Autodesk Correlations

ADSK Stock

USD 276.58 17.21 5.86%

The current 90-days correlation between Autodesk and Workday is 0.47 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Autodesk moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Autodesk moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Autodesk Correlation With Market

Very weak diversification

The correlation between Autodesk and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Autodesk and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Autodesk Stock

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

For more information on how to buy Autodesk Stock please use our How to buy in Autodesk Stock guide.

Moving together with Autodesk Stock

0.66	JG	Aurora Mobile	Pair Corr
0.75	SAP	SAP SE ADR	Pair Corr
0.68	TTD	Trade Desk	Pair Corr
0.67	CLSK	CleanSpark Aggressive Push	Pair Corr
0.64	UPLD	Upland Software	Pair Corr
0.68	HPQ	HP Inc	Pair Corr
0.72	HD	Home Depot	Pair Corr

Moving against Autodesk Stock

0.66	PTITF	PT Indosat Tbk	Pair Corr
0.59	EC	Ecopetrol SA ADR	Pair Corr
0.58	KEP	Korea Electric Power	Pair Corr
0.55	TLK	Telkom Indonesia Tbk	Pair Corr
0.52	MGIC	Magic Software Enter	Pair Corr
0.52	TLKMF	Telkom Indonesia Tbk	Pair Corr
0.51	RDZN	Roadzen	Pair Corr
0.48	PTAIY	Astra International Tbk	Pair Corr
0.32	USDC	USDATA Corp	Pair Corr
0.61	CSCO	Cisco Systems	Pair Corr
0.58	CAT	Caterpillar	Pair Corr
0.56	XOM	Exxon Mobil Corp	Pair Corr
0.49	JNJ	Johnson Johnson	Pair Corr
0.46	FTV	Fortive Corp	Pair Corr
0.46	MRK	Merck Company	Pair Corr
0.45	AXP	American Express	Pair Corr
0.44	ADAMI	New York Mortgage Symbol Change	Pair Corr

Related Correlations Analysis

	WDAY	FTNT	MSTR	MSI	CRWV	DDOG	INFY	FICO	CDNS	SNPS
WDAY		0.74	0.86	0.78	0.82	0.36	-0.64	-0.33	0.61	-0.14	WDAY
FTNT	0.74		0.75	0.63	0.76	0.2	-0.49	-0.14	0.85	0.16	FTNT
MSTR	0.86	0.75		0.93	0.94	0.33	-0.76	-0.31	0.72	0.01	MSTR
MSI	0.78	0.63	0.93		0.92	0.12	-0.61	-0.43	0.65	0.21	MSI
CRWV	0.82	0.76	0.94	0.92		0.19	-0.67	-0.48	0.75	0.15	CRWV
DDOG	0.36	0.2	0.33	0.12	0.19		-0.57	0.07	0.05	-0.74	DDOG
INFY	-0.64	-0.49	-0.76	-0.61	-0.67	-0.57		0.25	-0.35	0.4	INFY
FICO	-0.33	-0.14	-0.31	-0.43	-0.48	0.07	0.25		-0.13	-0.13	FICO
CDNS	0.61	0.85	0.72	0.65	0.75	0.05	-0.35	-0.13		0.43	CDNS
SNPS	-0.14	0.16	0.01	0.21	0.15	-0.74	0.4	-0.13	0.43		SNPS
	WDAY	FTNT	MSTR	MSI	CRWV	DDOG	INFY	FICO	CDNS	SNPS

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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

CRWV	+ 0.94	MSTR
MSI	+ 0.93	MSTR
CRWV	+ 0.92	MSI
MSTR	+ 0.86	WDAY
CDNS	+ 0.85	FTNT
CRWV	+ 0.82	WDAY

High negative correlations

INFY	- 0.76	MSTR
SNPS	- 0.74	DDOG
INFY	- 0.67	CRWV
INFY	- 0.64	WDAY
INFY	- 0.61	MSI
INFY	- 0.57	DDOG

Risk-Adjusted Indicators

There is a big difference between Autodesk Stock performing well and Autodesk 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 Autodesk'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
WDAY	1.42	(0.22)	0.00	(0.19)	0.00	0.00	3.03	(3.27)	11.69
FTNT	1.28	(0.16)	0.00	(0.11)	0.00	0.00	2.01	(3.65)	8.99
MSTR	3.32	(1.21)	0.00	(0.64)	0.00	0.00	5.01	(7.55)	15.68
MSI	0.88	(0.29)	0.00	(0.75)	0.00	0.00	1.52	(2.19)	7.63
CRWV	4.06	(0.79)	0.00	(0.48)	0.00	0.00	8.05	(8.30)	28.02
DDOG	1.99	(0.09)	0.00	(0.11)	0.00	0.00	3.65	(3.25)	32.62
INFY	1.55	0.16	0.08	0.31	1.65	(1.76)	3.54	(2.59)	10.66
FICO	1.69	(0.28)	0.00	(0.24)	0.00	0.00	3.89	(3.24)	11.41
CDNS	1.31	(0.18)	0.00	(0.12)	0.00	0.00	2.32	(2.96)	9.36
SNPS	1.70	0.08	0.04	0.11	2.59	(1.65)	3.78	(3.17)	11.80

Autodesk Corporate Management

Steven Blum	Sr. VP of Worldwide Sales and Services	Profile
Prakash Kota	Chief Officer	Profile
Greg Lutz	Founder	Profile
Carl White	Senior CIO	Profile
John Walker	Founder	Profile
Dan Drake	Founder	Profile
Sidharth Haksar	Senior Strategy	Profile

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