Blackline Correlations

BL Stock

USD 41.71 3.17 7.06%

The current 90-days correlation between Blackline and Dave Inc is 0.34 (i.e., 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

Very good diversification

The correlation between Blackline and DJI is -0.32 (i.e., Very good 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 metropolitan statistical area.

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

Moving together with Blackline Stock

0.75	U	Unity Software	Pair Corr
0.79	DT	Dynatrace Holdings LLC	Pair Corr
0.77	MQ	Marqeta	Pair Corr
0.61	TTD	Trade Desk	Pair Corr
0.73	HUBS	HubSpot	Pair Corr
0.88	INTU	Intuit Inc	Pair Corr
0.61	LPSN	LivePerson	Pair Corr
0.62	MNDY	MondayCom Earnings Call This Week	Pair Corr
0.79	PAYC	Paycom Software Earnings Call This Week	Pair Corr
0.84	ADSK	Autodesk	Pair Corr
0.84	TEAM	Atlassian Corp Plc	Pair Corr

Moving against Blackline Stock

0.5	SLF	Sun Life Financial Earnings Call This Week	Pair Corr
0.48	ASUR	Asure Software	Pair Corr
0.87	CVX	Chevron Corp	Pair Corr
0.85	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.71	KO	Coca Cola Aggressive Push	Pair Corr
0.68	CAT	Caterpillar	Pair Corr
0.64	PG	Procter Gamble	Pair Corr
0.63	JNJ	Johnson Johnson	Pair Corr
0.6	INTC	Intel	Pair Corr
0.55	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.52	HD	Home Depot	Pair Corr
0.51	BA	Boeing	Pair Corr
0.44	GLUC	Glucose Health	Pair Corr
0.44	MRK	Merck Company Aggressive Push	Pair Corr
0.32	CSCO	Cisco Systems Earnings Call This Week	Pair Corr

Related Correlations Analysis

	DAVE	AGYS	PTRN	ASAN	GBTG	VERX	KC	FRSH	YOU	BLKB
DAVE		0.7	0.26	0.66	0.71	0.6	-0.52	0.31	0.18	0.67	DAVE
AGYS	0.7		0.18	0.78	0.69	0.67	-0.57	0.68	0.36	0.74	AGYS
PTRN	0.26	0.18		-0.15	-0.07	0.21	0.36	-0.27	-0.27	-0.17	PTRN
ASAN	0.66	0.78	-0.15		0.75	0.66	-0.58	0.77	0.41	0.92	ASAN
GBTG	0.71	0.69	-0.07	0.75		0.68	-0.49	0.66	0.39	0.8	GBTG
VERX	0.6	0.67	0.21	0.66	0.68		-0.24	0.65	0.31	0.78	VERX
KC	-0.52	-0.57	0.36	-0.58	-0.49	-0.24		-0.41	-0.51	-0.58	KC
FRSH	0.31	0.68	-0.27	0.77	0.66	0.65	-0.41		0.58	0.77	FRSH
YOU	0.18	0.36	-0.27	0.41	0.39	0.31	-0.51	0.58		0.38	YOU
BLKB	0.67	0.74	-0.17	0.92	0.8	0.78	-0.58	0.77	0.38		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

BLKB	+ 0.92	ASAN
BLKB	+ 0.8	GBTG
ASAN	+ 0.78	AGYS
BLKB	+ 0.78	VERX
FRSH	+ 0.77	ASAN
BLKB	+ 0.77	FRSH

High negative correlations

BLKB	- 0.58	KC
KC	- 0.58	ASAN
KC	- 0.57	AGYS
KC	- 0.52	DAVE
YOU	- 0.51	KC
KC	- 0.49	GBTG

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	3.16	(0.69)	0.00	(0.18)	0.00	0.00	5.29	(8.15)	19.07
AGYS	2.14	(0.62)	0.00	(0.30)	0.00	0.00	3.41	(5.71)	25.48
PTRN	3.44	(0.62)	0.00	(0.24)	0.00	0.00	7.93	(10.08)	25.95
ASAN	2.23	(0.58)	0.00	7.14	0.00	0.00	3.44	(6.30)	15.87
GBTG	2.22	(0.54)	0.00	(0.24)	0.00	0.00	3.82	(6.32)	15.25
VERX	1.97	(0.65)	0.00	(0.47)	0.00	0.00	3.45	(4.88)	21.09
KC	2.92	0.01	0.00	0.05	3.30	(3.25)	8.10	(4.76)	29.29
FRSH	2.02	(0.37)	0.00	(0.30)	0.00	0.00	3.12	(5.31)	16.54
YOU	2.10	0.12	0.05	0.23	2.03	(2.81)	5.49	(3.81)	18.67
BLKB	1.87	(0.50)	0.00	(0.56)	0.00	0.00	2.47	(4.33)	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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