Absolute Software Correlations

Summary

ABSTDelisted Stock

USD 11.48 0.00 0.00%

The current 90-days correlation between Absolute Software and Model N is 0.01 (i.e., Significant diversification). The correlation of Absolute Software is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Absolute Software Correlation With Market

Good diversification

The correlation between Absolute Software and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Absolute Software and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with Absolute Stock

0.67	CRM	Salesforce Earnings Call Tomorrow	Pair Corr
0.77	SAP	SAP SE ADR Fiscal Year End 28th of January 2025	Pair Corr
0.7	NOW	ServiceNow Fiscal Year End 22nd of January 2025	Pair Corr
0.76	SAPGF	SAP SE	Pair Corr
0.7	STLD	Steel Dynamics Fiscal Year End 28th of January 2025	Pair Corr
0.79	APLD	Applied Blockchain Trending	Pair Corr
0.68	CRWD	Crowdstrike Holdings	Pair Corr
0.62	NVDA	NVIDIA	Pair Corr
0.7	ADSK	Autodesk	Pair Corr
0.63	ALAB	Astera Labs, Common	Pair Corr

Moving against Absolute Stock

0.61	VNTN	VentureNet Capital	Pair Corr
0.59	AMIX	Autonomix Medical, Common	Pair Corr
0.31	CTPR	CTPartners Executive	Pair Corr

Related Correlations Analysis

	MODN	ENFN	ONTF	PYCR	PWSC	AMSWA	APPF	AGYS	MIXT	ALKT
MODN		0.62	-0.03	0.27	0.66	0.74	-0.18	0.19	-0.69	0.35	MODN
ENFN	0.62		0.44	0.64	0.8	0.75	0.25	0.64	-0.63	0.6	ENFN
ONTF	-0.03	0.44		0.63	0.41	0.25	0.25	0.66	-0.27	0.63	ONTF
PYCR	0.27	0.64	0.63		0.71	0.5	0.29	0.64	-0.52	0.73	PYCR
PWSC	0.66	0.8	0.41	0.71		0.86	-0.14	0.6	-0.89	0.83	PWSC
AMSWA	0.74	0.75	0.25	0.5	0.86		-0.32	0.39	-0.86	0.68	AMSWA
APPF	-0.18	0.25	0.25	0.29	-0.14	-0.32		0.19	0.38	-0.21	APPF
AGYS	0.19	0.64	0.66	0.64	0.6	0.39	0.19		-0.33	0.61	AGYS
MIXT	-0.69	-0.63	-0.27	-0.52	-0.89	-0.86	0.38	-0.33		-0.77	MIXT
ALKT	0.35	0.6	0.63	0.73	0.83	0.68	-0.21	0.61	-0.77		ALKT
	MODN	ENFN	ONTF	PYCR	PWSC	AMSWA	APPF	AGYS	MIXT	ALKT

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

AMSWA	+ 0.86	PWSC
ALKT	+ 0.83	PWSC
PWSC	+ 0.8	ENFN
AMSWA	+ 0.75	ENFN
AMSWA	+ 0.74	MODN
ALKT	+ 0.73	PYCR

High negative correlations

MIXT	- 0.89	PWSC
MIXT	- 0.86	AMSWA
ALKT	- 0.77	MIXT
MIXT	- 0.69	MODN
MIXT	- 0.63	ENFN
MIXT	- 0.52	PYCR

Risk-Adjusted Indicators

There is a big difference between Absolute Stock performing well and Absolute Software Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Absolute Software's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
MODN	0.50	0.12	0.05	0.45	0.29	(0.69)	1.01	(0.50)	10.58
ENFN	1.62	0.16	0.11	0.26	1.55	(1.98)	3.93	(2.90)	10.11
ONTF	1.59	(0.15)	(0.03)	0.03	1.91	(1.76)	3.04	(2.86)	11.19
PYCR	1.51	0.22	0.14	0.28	1.42	(1.62)	3.12	(2.96)	9.64
PWSC	0.08	0.02	(0.72)	2.31	0.00	(0.11)	0.18	(0.13)	0.71
AMSWA	1.44	0.26	0.12	1.27	1.18	(1.67)	3.79	(2.53)	10.40
APPF	1.46	0.00	0.02	0.12	2.17	(1.57)	2.86	(2.27)	15.04
AGYS	1.92	0.08	0.07	0.15	2.89	(1.83)	4.17	(5.24)	14.47
MIXT	2.00	(0.21)	0.00	(0.54)	0.00	0.00	3.52	(3.34)	12.12
ALKT	1.93	0.12	0.11	0.17	2.00	(2.24)	5.03	(4.11)	11.93

View Absolute Software Related Equities

Model N Enfusion ON24 Inc Paycor HCM Powerschool Holdings American Software Appfolio Agilysys Mix Telemats Alkami Technology ADEIA P Momentive Global Clearwater Analytics Holdings nCino Inc Meridianlink

Risk & Return

Correlation

Absolute Software Corporate Management

Peter Chess	Gen Sec	Profile
Matt Meanchoff	Chief Officer	Profile
Alice Hansen	Chief Officer	Profile
JooHun Kim	MKR Relations	Profile
Christy Wyatt	Pres CEO	Profile
Robert Booker	Ex HR	Profile
Mark Grace	Chief Officer	Profile

Still Interested in Absolute Software?

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