Aspen Technology Correlations

AZPN Stock

USD 248.49 3.19 1.30%

The current 90-days correlation between Aspen Technology and Bentley Systems is 0.37 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Aspen Technology moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Aspen Technology moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Aspen Technology Correlation With Market

Very weak diversification

The correlation between Aspen Technology and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Aspen Technology and DJI in the same portfolio, assuming nothing else is changed.

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

To learn how to invest in Aspen Stock, please use our How to Invest in Aspen Technology guide.

Moving together with Aspen Stock

0.66	DJCO	Daily Journal Corp	Pair Corr
0.65	AI	C3 Ai Inc Trending	Pair Corr
0.83	BL	Blackline	Pair Corr
0.66	DT	Dynatrace Holdings LLC	Pair Corr
0.7	KC	Kingsoft Cloud Holdings Tech Boost	Pair Corr
0.68	QH	Quhuo	Pair Corr
0.72	WK	Workiva	Pair Corr
0.71	ZM	Zoom Video Communications Earnings Call This Week	Pair Corr
0.81	DOCU	DocuSign	Pair Corr
0.81	VERX	Vertex	Pair Corr
0.81	DSGX	Descartes Systems	Pair Corr
0.89	DUOL	Duolingo	Pair Corr
0.77	DUOT	Duos Technologies Downward Rally	Pair Corr
0.75	EGHT	8x8 Common Stock	Pair Corr
0.79	ENFN	Enfusion	Pair Corr

Moving against Aspen Stock

0.74	VERB	VERB TECHNOLOGY PANY Tech Boost	Pair Corr
0.57	EGAN	eGain	Pair Corr
0.5	VTEX	VTEX Potential Growth	Pair Corr
0.41	DMAN	Innovativ Media Group	Pair Corr
0.36	VCSA	Vacasa Inc	Pair Corr
0.79	EVOL	Evolving Systems	Pair Corr
0.72	SBIGW	SpringBig Holdings	Pair Corr
0.63	ETWO	E2open Parent Holdings	Pair Corr
0.58	XELAP	Exela Technologies Earnings Call This Week	Pair Corr
0.57	BMR	Beamr Imaging	Pair Corr
0.53	WBTN	WEBTOON Entertainment	Pair Corr
0.52	WRNT	Warrantee American	Pair Corr
0.48	ELCO	Elcom International	Pair Corr
0.44	EZFL	EzFill Holdings	Pair Corr
0.32	BSY	Bentley Systems	Pair Corr

Related Correlations Analysis

	BSY	TYL	BLKB	SSNC	CVLT	ENV	MANH	AGYS	BL	DV
BSY		-0.33	0.18	0.33	-0.15	-0.45	0.24	-0.13	-0.22	-0.13	BSY
TYL	-0.33		0.03	-0.27	0.53	0.48	0.22	0.38	0.72	0.28	TYL
BLKB	0.18	0.03		0.6	-0.11	-0.05	0.5	0.46	0.32	-0.02	BLKB
SSNC	0.33	-0.27	0.6		-0.05	-0.13	0.51	0.42	0.11	-0.02	SSNC
CVLT	-0.15	0.53	-0.11	-0.05		0.49	0.15	0.44	0.49	0.52	CVLT
ENV	-0.45	0.48	-0.05	-0.13	0.49		-0.2	0.56	0.45	0.73	ENV
MANH	0.24	0.22	0.5	0.51	0.15	-0.2		0.5	0.61	-0.33	MANH
AGYS	-0.13	0.38	0.46	0.42	0.44	0.56	0.5		0.71	0.5	AGYS
BL	-0.22	0.72	0.32	0.11	0.49	0.45	0.61	0.71		0.13	BL
DV	-0.13	0.28	-0.02	-0.02	0.52	0.73	-0.33	0.5	0.13		DV
	BSY	TYL	BLKB	SSNC	CVLT	ENV	MANH	AGYS	BL	DV

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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

DV	+ 0.73	ENV
BL	+ 0.72	TYL
BL	+ 0.71	AGYS
BL	+ 0.61	MANH
SSNC	+ 0.6	BLKB
AGYS	+ 0.56	ENV

High negative correlations

ENV	- 0.45	BSY
DV	- 0.33	MANH
TYL	- 0.33	BSY
SSNC	- 0.27	TYL
BL	- 0.22	BSY
MANH	- 0.2	ENV

Risk-Adjusted Indicators

There is a big difference between Aspen Stock performing well and Aspen Technology 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 Aspen Technology'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
BSY	1.26	(0.14)	0.00	(0.11)	0.00	0.00	2.30	(3.12)	8.31
TYL	0.82	0.02	(0.07)	0.25	0.86	(0.98)	1.37	(1.56)	7.85
BLKB	1.33	(0.03)	0.01	0.08	2.92	(1.29)	2.93	(2.08)	18.39
SSNC	0.83	(0.07)	(0.04)	0.04	1.51	(0.77)	1.60	(1.31)	8.66
CVLT	2.04	0.07	0.05	0.14	2.59	(2.30)	4.06	(4.03)	28.40
ENV	0.09	(0.01)	(0.72)	(0.15)	0.10	(0.10)	0.22	(0.22)	0.68
MANH	1.26	(0.08)	(0.02)	0.04	1.95	(1.26)	2.22	(2.66)	10.50
AGYS	1.89	0.08	0.07	0.13	2.95	(1.81)	3.43	(5.24)	14.47
BL	1.45	0.14	0.12	0.19	1.40	(1.59)	3.61	(2.28)	7.65
DV	1.64	(0.11)	(0.03)	0.03	2.01	(1.85)	3.51	(4.04)	10.96

Aspen Technology Corporate Management

Sharon Vinci	Chief Officer	Profile
Christopher Cooper	Interim Officer	Profile
Willie Chan	Chief Officer	Profile
Sophia Xu	Chief Officer	Profile
Filipe SoaresPinto	Senior Sales	Profile
Lawrence Schwartz	VP Officer	Profile
Rasha Hasaneen	Chief Officer	Profile

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