BlackBerry Correlations

BB Stock

USD 5.25 0.09 1.74%

The current 90-days correlation between BlackBerry and Uipath Inc is 0.46 (i.e., Very weak diversification). The correlation of BlackBerry 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.

BlackBerry Correlation With Market

Good diversification

The correlation between BlackBerry 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 BlackBerry 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 BlackBerry. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

For information on how to trade BlackBerry Stock refer to our How to Trade BlackBerry Stock guide.

Moving together with BlackBerry Stock

0.8	GB	Global Blue Group	Pair Corr
0.66	VRAR	Glimpse Group	Pair Corr
0.96	VRSN	VeriSign	Pair Corr
0.74	EXOD	Exodus Movement,	Pair Corr
0.81	FFIV	F5 Networks	Pair Corr
0.66	FOUR	Shift4 Payments	Pair Corr
0.89	DBX	Dropbox Earnings Call This Week	Pair Corr
0.73	DLO	Dlocal	Pair Corr
0.71	HCP	Hashicorp Sell-off Trend	Pair Corr
0.86	NET	Cloudflare Upward Rally	Pair Corr

Moving against BlackBerry Stock

0.91	VRNS	Varonis Systems	Pair Corr
0.77	EVCM	EverCommerce	Pair Corr
0.76	DTSS	Datasea	Pair Corr
0.74	S	SentinelOne	Pair Corr
0.71	EVTC	Evertec	Pair Corr
0.65	EEFT	Euronet Worldwide	Pair Corr
0.56	NN	Nextnav Acquisition Corp	Pair Corr
0.33	MQ	Marqeta	Pair Corr
0.32	ZS	Zscaler	Pair Corr
0.82	FMTO	FMTO Symbol Change	Pair Corr
0.78	GEN	Gen Digital	Pair Corr
0.63	GCT	GigaCloud Technology	Pair Corr
0.46	FLYW	Flywire Corp	Pair Corr
0.35	BOX	Box Inc	Pair Corr
0.34	FAASW	DigiAsia Corp Symbol Change	Pair Corr
0.73	SOS	SOS Limited	Pair Corr
0.7	RPD	Rapid7 Inc	Pair Corr
0.57	MDB	MongoDB Sell-off Trend	Pair Corr
0.51	TCX	Tucows Inc	Pair Corr
0.51	TLS	Telos Corp	Pair Corr
0.32	WEX	Wex Inc	Pair Corr

Related Correlations Analysis

	AFRM	SQ	PATH	TOST	NET	DLO	GCT	MOGO	MSFT	PANW
AFRM		0.0	0.54	0.6	0.31	0.56	-0.03	0.71	0.42	0.44	AFRM
SQ	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	SQ
PATH	0.54	0.0		0.48	0.49	0.51	0.35	0.48	0.39	0.42	PATH
TOST	0.6	0.0	0.48		0.28	0.5	0.29	0.71	0.06	0.41	TOST
NET	0.31	0.0	0.49	0.28		0.86	-0.4	-0.05	0.16	-0.2	NET
DLO	0.56	0.0	0.51	0.5	0.86		-0.42	0.23	0.3	-0.14	DLO
GCT	-0.03	0.0	0.35	0.29	-0.4	-0.42		0.39	-0.18	0.51	GCT
MOGO	0.71	0.0	0.48	0.71	-0.05	0.23	0.39		0.3	0.61	MOGO
MSFT	0.42	0.0	0.39	0.06	0.16	0.3	-0.18	0.3		0.38	MSFT
PANW	0.44	0.0	0.42	0.41	-0.2	-0.14	0.51	0.61	0.38		PANW
	AFRM	SQ	PATH	TOST	NET	DLO	GCT	MOGO	MSFT	PANW

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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

DLO	+ 0.86	NET
MOGO	+ 0.71	AFRM
MOGO	+ 0.71	TOST
PANW	+ 0.61	MOGO
TOST	+ 0.6	AFRM
DLO	+ 0.56	AFRM

High negative correlations

GCT	- 0.42	DLO
GCT	- 0.4	NET
PANW	- 0.2	NET
MSFT	- 0.18	GCT
PANW	- 0.14	DLO
MOGO	- 0.05	NET

Risk-Adjusted Indicators

There is a big difference between BlackBerry Stock performing well and BlackBerry 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 BlackBerry'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
AFRM	3.86	0.95	0.25	3.95	3.26	(5.07)	9.65	(5.07)	34.55
SQ	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PATH	2.47	0.13	0.04	0.22	2.87	(2.68)	5.47	(5.10)	15.59
TOST	2.16	0.38	0.13	0.45	2.50	(2.43)	4.59	(3.88)	24.81
NET	2.40	1.04	0.40	(7.72)	1.65	(2.93)	5.54	(2.66)	15.25
DLO	2.10	0.67	0.27	(5.03)	1.65	(2.37)	5.42	(3.04)	16.14
GCT	3.82	(0.22)	0.00	(0.06)	0.00	0.00	7.91	(7.41)	30.15
MOGO	3.61	0.54	0.11	(4.95)	3.50	(4.65)	10.31	(5.67)	32.36
MSFT	1.03	(0.01)	(0.05)	0.01	1.66	(0.99)	2.20	(2.14)	10.31
PANW	1.49	0.09	0.01	0.40	2.22	(1.42)	3.05	(3.61)	11.36

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