Blackline Correlations

BL Stock

USD 36.58 0.57 1.58%

The current 90-days correlation between Blackline and Dave Inc is 0.54 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Blackline moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Blackline moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Blackline Correlation With Market

Excellent diversification

The correlation between Blackline and DJI is -0.58 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Blackline and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Blackline Stock

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

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

Moving together with Blackline Stock

0.97	U	Unity Software Buyout Trend	Pair Corr
0.76	9NY	BYTES TECHGRP LS	Pair Corr
0.92	DT	Dynatrace Holdings LLC	Pair Corr
0.85	DV	DoubleVerify Holdings Earnings Call Today	Pair Corr
0.93	35U	PAR TECHNOLOGY DL	Pair Corr
0.9	MQ	Marqeta Earnings Call Today	Pair Corr
0.97	PD	Pagerduty Tech Boost	Pair Corr
0.62	QH	Quhuo	Pair Corr
0.89	VS	Versus Systems	Pair Corr
0.98	WK	Workiva	Pair Corr
0.61	ZD	Ziff Davis Trending	Pair Corr
0.63	MTLO	Martello Technologies	Pair Corr
0.88	DMRC	Digimarc Earnings Call Today	Pair Corr
0.89	RM	RM Plc	Pair Corr
0.97	2TY	PagerDuty	Pair Corr
0.95	DOCU	DocuSign	Pair Corr
0.89	DOMO	Domo Inc Earnings Call Tomorrow	Pair Corr
0.85	1Q5	Dropbox	Pair Corr
0.92	VERI	Veritone	Pair Corr
0.95	VERX	Vertex	Pair Corr
0.97	6NCA	NCINO INC DL	Pair Corr
0.94	DSGX	Descartes Systems Earnings Call This Week	Pair Corr
0.95	LY0	Lyft Inc	Pair Corr
0.68	DTCX	Datacentrex Symbol Change	Pair Corr
0.69	DUOT	Duos Technologies	Pair Corr
0.75	0M5	Bill Holdings	Pair Corr

Moving against Blackline Stock

0.88	60Z	UNIFIEDPOST GRP SANV	Pair Corr
0.87	DSG	Dillistone Group PLC	Pair Corr
0.78	RNI	OXFORD METRICS LS	Pair Corr
0.67	JG	Aurora Mobile	Pair Corr
0.44	LUS1	Lang Schwarz Aktieng	Pair Corr
0.44	TRB	Tribal Group plc	Pair Corr
0.82	MKQ	Mitek Systems	Pair Corr
0.77	89P	CLAVISTER HOLDING	Pair Corr
0.46	PR1	Pri0r1ty Intelligence	Pair Corr

Related Correlations Analysis

	DAVE	AGYS	PTRN	ASAN	GBTG	VERX	KC	FRSH	YOU	BLKB
DAVE		0.72	0.17	0.69	0.71	0.63	-0.72	0.62	0.22	0.77	DAVE
AGYS	0.72		0.44	0.96	0.94	0.88	-0.71	0.93	-0.13	0.92	AGYS
PTRN	0.17	0.44		0.44	0.58	0.64	-0.02	0.59	-0.27	0.33	PTRN
ASAN	0.69	0.96	0.44		0.94	0.92	-0.72	0.97	-0.09	0.96	ASAN
GBTG	0.71	0.94	0.58	0.94		0.95	-0.68	0.96	-0.08	0.93	GBTG
VERX	0.63	0.88	0.64	0.92	0.95		-0.63	0.97	-0.06	0.88	VERX
KC	-0.72	-0.71	-0.02	-0.72	-0.68	-0.63		-0.65	-0.2	-0.73	KC
FRSH	0.62	0.93	0.59	0.97	0.96	0.97	-0.65		-0.1	0.92	FRSH
YOU	0.22	-0.13	-0.27	-0.09	-0.08	-0.06	-0.2	-0.1		0.0	YOU
BLKB	0.77	0.92	0.33	0.96	0.93	0.88	-0.73	0.92	0.0		BLKB
	DAVE	AGYS	PTRN	ASAN	GBTG	VERX	KC	FRSH	YOU	BLKB

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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

FRSH	+ 0.97	ASAN
FRSH	+ 0.97	VERX
ASAN	+ 0.96	AGYS
BLKB	+ 0.96	ASAN
FRSH	+ 0.96	GBTG
VERX	+ 0.95	GBTG

High negative correlations

BLKB	- 0.73	KC
KC	- 0.72	ASAN
KC	- 0.72	DAVE
KC	- 0.71	AGYS
KC	- 0.68	GBTG
FRSH	- 0.65	KC

Risk-Adjusted Indicators

There is a big difference between Blackline Stock performing well and Blackline 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 Blackline'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
DAVE	3.10	(0.04)	0.01	0.02	4.50	(2.85)	6.01	(6.67)	26.09
AGYS	2.21	(0.73)	0.00	(0.34)	0.00	0.00	3.31	(6.03)	25.48
PTRN	3.69	(0.37)	0.00	(0.11)	0.00	0.00	9.15	(10.31)	25.95
ASAN	2.76	(0.78)	0.00	(0.46)	0.00	0.00	4.49	(7.03)	17.13
GBTG	2.31	(0.50)	0.00	(0.25)	0.00	0.00	3.82	(6.32)	17.40
VERX	2.50	(0.44)	0.00	(0.26)	0.00	0.00	5.96	(5.41)	21.09
KC	3.42	(0.09)	0.00	(0.04)	0.00	0.00	8.10	(7.04)	30.56
FRSH	2.63	(0.59)	0.00	(0.36)	0.00	0.00	4.07	(7.60)	22.32
YOU	2.60	0.56	0.25	0.56	1.82	(3.60)	3.59	(3.97)	40.19
BLKB	1.97	(0.19)	0.00	(0.14)	0.00	0.00	2.87	(5.28)	12.40

Blackline Corporate Management

Sumit Johar	Chief Officer	Profile
Jill Knesek	Chief Officer	Profile
Alexandra Geller	VP Relations	Profile
Emily Campbell	Chief Officer	Profile
Dominick DiPaolo	Senior Sales	Profile
Jeremy Ung	Chief Officer	Profile

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