Blackline Correlations

BL Stock

USD 64.37 0.01 0.02%

The current 90-days correlation between Blackline and Manhattan Associates 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

Significant diversification

The correlation between Blackline and DJI is 0.09 (i.e., Significant 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.

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 bureau of economic analysis.

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

Moving together with Blackline Stock

0.65	U	Unity Software Buyout Trend	Pair Corr
0.62	DJCO	Daily Journal Corp	Pair Corr
0.79	AI	C3 Ai Inc	Pair Corr
0.8	DV	DoubleVerify Holdings	Pair Corr
0.71	EB	Eventbrite Class A	Pair Corr
0.69	ML	MoneyLion	Pair Corr
0.67	PD	Pagerduty	Pair Corr
0.85	ZM	Zoom Video Communications Buyout Trend	Pair Corr
0.67	DOCU	DocuSign	Pair Corr
0.7	VERX	Vertex	Pair Corr
0.84	DSGX	Descartes Systems	Pair Corr
0.82	DUOL	Duolingo	Pair Corr
0.76	VMEO	Vimeo Inc	Pair Corr
0.73	EGHT	8x8 Common Stock Earnings Call Today	Pair Corr
0.86	WDAY	Workday	Pair Corr
0.79	ESTC	Elastic NV Upward Rally	Pair Corr
0.76	EXFY	Expensify Tech Boost	Pair Corr

Moving against Blackline Stock

0.38	VERB	VERB TECHNOLOGY PANY	Pair Corr
0.31	VS	Versus Systems	Pair Corr
0.33	VTEX	VTEX Tech Boost	Pair Corr
0.31	EVOL	Evolving Systems	Pair Corr
0.31	SBIGW	SpringBig Holdings	Pair Corr

Related Correlations Analysis

	MANH	AZPN	DV	ANSS	ALKT	WK	AGYS	AMSWA	APPF	QTWO
MANH		0.28	0.53	0.32	0.54	0.14	0.29	-0.04	0.44	0.56	MANH
AZPN	0.28		0.79	0.76	-0.19	0.73	0.29	0.73	0.86	0.57	AZPN
DV	0.53	0.79		0.78	0.19	0.66	0.59	0.57	0.88	0.88	DV
ANSS	0.32	0.76	0.78		0.0	0.48	0.32	0.49	0.75	0.59	ANSS
ALKT	0.54	-0.19	0.19	0.0		-0.14	0.37	-0.25	0.06	0.45	ALKT
WK	0.14	0.73	0.66	0.48	-0.14		0.69	0.85	0.8	0.61	WK
AGYS	0.29	0.29	0.59	0.32	0.37	0.69		0.47	0.58	0.75	AGYS
AMSWA	-0.04	0.73	0.57	0.49	-0.25	0.85	0.47		0.71	0.47	AMSWA
APPF	0.44	0.86	0.88	0.75	0.06	0.8	0.58	0.71		0.77	APPF
QTWO	0.56	0.57	0.88	0.59	0.45	0.61	0.75	0.47	0.77		QTWO
	MANH	AZPN	DV	ANSS	ALKT	WK	AGYS	AMSWA	APPF	QTWO

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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

APPF	+ 0.88	DV
QTWO	+ 0.88	DV
APPF	+ 0.86	AZPN
AMSWA	+ 0.85	WK
APPF	+ 0.8	WK
DV	+ 0.79	AZPN

High negative correlations

AMSWA	- 0.25	ALKT
ALKT	- 0.19	AZPN
WK	- 0.14	ALKT
AMSWA	- 0.04	MANH
ALKT	- 0.0	ANSS

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
MANH	1.35	(0.03)	0.00	(0.72)	0.00	0.00	3.16	(3.75)	10.03
AZPN	0.68	0.14	0.09	0.57	0.67	(0.74)	1.50	(1.05)	3.86
DV	1.54	0.21	0.09	0.56	1.71	(1.74)	3.85	(3.21)	10.96
ANSS	1.10	0.10	0.02	0.51	1.55	(1.10)	2.27	(2.73)	11.30
ALKT	1.98	(0.09)	0.00	1.27	0.00	0.00	3.76	(5.27)	12.66
WK	1.74	0.32	0.08	(9.32)	2.72	(1.85)	3.72	(2.72)	19.52
AGYS	2.77	(0.29)	0.00	0.64	0.00	0.00	4.39	(8.05)	31.17
AMSWA	1.44	0.30	0.15	(2.85)	1.18	(1.67)	3.79	(2.53)	10.40
APPF	1.60	0.36	0.19	0.49	1.53	(1.90)	3.36	(3.87)	15.04
QTWO	1.67	0.18	0.05	0.86	2.54	(1.73)	3.35	(2.54)	23.89

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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