Brightcove Correlations

BCOV Stock

USD 3.19 0.18 5.98%

The current 90-days correlation between Brightcove and American Software is -0.14 (i.e., Good diversification). The correlation of Brightcove 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.

Brightcove Correlation With Market

Modest diversification

The correlation between Brightcove and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Brightcove 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 Brightcove. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

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

Moving together with Brightcove Stock

0.81	DJCO	Daily Journal Corp	Pair Corr
0.72	AI	C3 Ai Inc Trending	Pair Corr
0.72	AZ	A2Z Smart Technologies	Pair Corr
0.71	BL	Blackline	Pair Corr
0.65	EB	Eventbrite Class A	Pair Corr
0.89	ML	MoneyLion	Pair Corr
0.89	WK	Workiva	Pair Corr
0.83	ZM	Zoom Video Communications Earnings Call This Week	Pair Corr
0.79	DOCU	DocuSign	Pair Corr
0.78	DOMO	Domo Inc Earnings Call This Week	Pair Corr
0.88	VERX	Vertex	Pair Corr
0.8	DSGX	Descartes Systems	Pair Corr
0.64	DUOL	Duolingo Tech Boost	Pair Corr
0.66	DUOT	Duos Technologies Downward Rally	Pair Corr
0.85	VMEO	Vimeo Inc	Pair Corr
0.69	VTSI	VirTra Inc	Pair Corr
0.89	EGHT	8x8 Common Stock	Pair Corr
0.64	ENFN	Enfusion	Pair Corr

Moving against Brightcove Stock

0.59	VERB	VERB TECHNOLOGY PANY	Pair Corr
0.32	DMAN	Innovativ Media Group	Pair Corr
0.72	XELAP	Exela Technologies Earnings Call This Week	Pair Corr
0.52	ETWO	E2open Parent Holdings	Pair Corr
0.5	VTEX	VTEX	Pair Corr
0.47	ELCO	Elcom International	Pair Corr
0.41	ILLRW	Triller Group Symbol Change	Pair Corr

Related Correlations Analysis

	AMSWA	ALKT	ASUR	BLKB	ENFN	DUOT	ADEA	PYCR	APPF	AGYS
AMSWA		0.66	0.58	0.32	0.69	0.78	0.25	0.44	-0.44	0.4	AMSWA
ALKT	0.66		0.48	0.13	0.52	0.9	0.44	0.68	-0.39	0.53	ALKT
ASUR	0.58	0.48		0.41	0.3	0.46	0.44	0.21	-0.34	0.11	ASUR
BLKB	0.32	0.13	0.41		0.19	0.11	0.06	0.03	-0.06	0.46	BLKB
ENFN	0.69	0.52	0.3	0.19		0.68	-0.03	0.54	0.1	0.52	ENFN
DUOT	0.78	0.9	0.46	0.11	0.68		0.29	0.72	-0.36	0.56	DUOT
ADEA	0.25	0.44	0.44	0.06	-0.03	0.29		0.25	-0.2	0.02	ADEA
PYCR	0.44	0.68	0.21	0.03	0.54	0.72	0.25		0.17	0.55	PYCR
APPF	-0.44	-0.39	-0.34	-0.06	0.1	-0.36	-0.2	0.17		0.03	APPF
AGYS	0.4	0.53	0.11	0.46	0.52	0.56	0.02	0.55	0.03		AGYS
	AMSWA	ALKT	ASUR	BLKB	ENFN	DUOT	ADEA	PYCR	APPF	AGYS

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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

DUOT	+ 0.9	ALKT
DUOT	+ 0.78	AMSWA
PYCR	+ 0.72	DUOT
ENFN	+ 0.69	AMSWA
PYCR	+ 0.68	ALKT
DUOT	+ 0.68	ENFN

High negative correlations

APPF	- 0.44	AMSWA
APPF	- 0.39	ALKT
APPF	- 0.36	DUOT
APPF	- 0.34	ASUR
APPF	- 0.2	ADEA
APPF	- 0.06	BLKB

Risk-Adjusted Indicators

There is a big difference between Brightcove Stock performing well and Brightcove 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 Brightcove'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
AMSWA	1.44	0.31	0.13	(1.13)	1.18	(1.67)	3.79	(2.53)	10.40
ALKT	1.89	0.12	0.10	0.16	2.07	(2.16)	5.15	(4.11)	11.93
ASUR	1.84	0.08	0.04	0.15	2.91	(2.06)	5.27	(3.76)	19.48
BLKB	1.33	(0.03)	0.01	0.08	2.92	(1.29)	2.93	(2.08)	18.39
ENFN	1.58	0.34	0.13	(1.47)	1.47	(1.95)	3.93	(2.77)	10.11
DUOT	3.92	1.09	0.20	2.10	4.22	(4.48)	10.88	(7.49)	26.55
ADEA	1.95	(0.10)	(0.01)	0.04	3.91	(1.98)	3.82	(3.41)	28.09
PYCR	1.48	0.16	0.10	0.22	1.46	(1.56)	3.05	(2.96)	9.64
APPF	1.40	(0.05)	(0.01)	0.06	2.23	(1.49)	2.64	(2.27)	15.04
AGYS	1.89	0.08	0.07	0.13	2.95	(1.81)	3.43	(5.24)	14.47

Brightcove Corporate Management

Teresa Tang	Head VP	Profile
Jennifer Smith	Chief Officer	Profile
Jeff Ray	Advisor Officer	Profile
Marc DeBevoise	CEO Director	Profile
David Beck	Chief Officer	Profile

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