Autodesk Correlations

ADSK Stock

USD 255.68 12.65 4.71%

The current 90-days correlation between Autodesk and Workday is 0.5 (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

Excellent diversification

The correlation between Autodesk and DJI is -0.55 (i.e., Excellent 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 main economic indicators.

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

Moving together with Autodesk Stock

0.76	DOMO	Domo Inc	Pair Corr
0.73	ID	Identillect Technologies	Pair Corr
0.73	ALFA	Alfa Financial Software	Pair Corr
0.83	FNMFO	Federal National Mortgage	Pair Corr
0.62	SONG	Music Licensing	Pair Corr

Moving against Autodesk Stock

0.83	300830	Jinxiandai Information	Pair Corr
0.76	VENZ	Venzee Technologies	Pair Corr
0.65	688246	Goodwill E Health	Pair Corr
0.58	ATG	Auction Technology	Pair Corr
0.57	IAM	Income Asset Management	Pair Corr
0.43	WNDR	WonderFi Technologies	Pair Corr
0.8	HBM	Hudbay Minerals	Pair Corr
0.78	BCH	Banco De Chile Earnings Call This Week	Pair Corr
0.74	KFII	KF Growth Acquisition	Pair Corr
0.71	NMM	Navios Maritime Partners	Pair Corr
0.69	URG	Ur Energy	Pair Corr
0.67	KNYJF	KONE Oyj Earnings Call This Week	Pair Corr
0.63	KB	KB Financial Group	Pair Corr
0.63	MGTC	Megatech Corp	Pair Corr
0.62	AVAL	Grupo Aval	Pair Corr
0.6	JRVR	James River Group	Pair Corr
0.57	SHG	Shinhan Financial	Pair Corr
0.56	WFC-PL	Wells Fargo	Pair Corr
0.52	WF	Woori Financial Group	Pair Corr
0.32	SUNFF	Sun Life Financial	Pair Corr

Related Correlations Analysis

	WDAY	FTNT	MSTR	MSI	CRWV	DDOG	INFY	FICO	CDNS	SNPS
WDAY		0.64	0.68	0.02	0.22	0.68	-0.56	0.59	0.41	-0.65	WDAY
FTNT	0.64		0.65	0.28	0.51	0.48	-0.48	0.27	0.67	-0.33	FTNT
MSTR	0.68	0.65		0.62	0.78	0.59	-0.7	0.0	0.63	-0.43	MSTR
MSI	0.02	0.28	0.62		0.86	-0.03	-0.25	-0.61	0.49	0.21	MSI
CRWV	0.22	0.51	0.78	0.86		0.12	-0.4	-0.48	0.69	0.08	CRWV
DDOG	0.68	0.48	0.59	-0.03	0.12		-0.71	0.49	0.12	-0.87	DDOG
INFY	-0.56	-0.48	-0.7	-0.25	-0.4	-0.71		-0.09	-0.24	0.64	INFY
FICO	0.59	0.27	0.0	-0.61	-0.48	0.49	-0.09		-0.03	-0.57	FICO
CDNS	0.41	0.67	0.63	0.49	0.69	0.12	-0.24	-0.03		0.17	CDNS
SNPS	-0.65	-0.33	-0.43	0.21	0.08	-0.87	0.64	-0.57	0.17		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	+ 0.86	MSI
CRWV	+ 0.78	MSTR
CDNS	+ 0.69	CRWV
MSTR	+ 0.68	WDAY
DDOG	+ 0.68	WDAY
CDNS	+ 0.67	FTNT

High negative correlations

SNPS	- 0.87	DDOG
INFY	- 0.71	DDOG
INFY	- 0.7	MSTR
SNPS	- 0.65	WDAY
FICO	- 0.61	MSI
SNPS	- 0.57	FICO

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	1.52	(0.52)	0.00	(0.65)	0.00	0.00	3.03	(4.19)	11.69
FTNT	1.37	(0.10)	0.00	(0.11)	0.00	0.00	2.47	(2.63)	8.99
MSTR	3.42	(1.04)	0.00	(1.00)	0.00	0.00	5.78	(7.76)	15.68
MSI	0.88	(0.15)	0.00	(0.30)	0.00	0.00	1.52	(2.19)	6.99
CRWV	4.38	(0.35)	0.00	(0.17)	0.00	0.00	10.73	(8.30)	28.57
DDOG	2.19	(0.25)	0.00	(0.73)	0.00	0.00	5.00	(3.97)	32.62
INFY	1.57	0.03	0.00	0.12	1.62	(1.99)	3.57	(2.59)	13.18
FICO	1.63	(0.21)	0.00	(0.12)	0.00	0.00	3.93	(3.16)	9.68
CDNS	1.33	(0.23)	0.00	(0.23)	0.00	0.00	2.67	(3.17)	9.36
SNPS	1.70	0.01	0.01	0.06	2.39	(1.63)	3.78	(4.05)	9.95

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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