Backblaze Correlations

Backblaze Correlation With Market

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Backblaze. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation. For information on how to trade Backblaze Stock refer to our How to Trade Backblaze Stock guide.

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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    OSPN + 0.93 RELY SANG + 0.85 GB SANG + 0.81 RELY CSGS + 0.78 ACIW PRTH + 0.78 RELY GB + 0.77 RELY

High negative correlations    GB - 0.62 EVCM SANG - 0.54 EVCM LSAK - 0.5 RELY CSGS - 0.49 LSAK SANG - 0.48 LSAK OSPN - 0.43 LSAK

Risk-Adjusted Indicators

There is a big difference between Backblaze Stock performing well and Backblaze 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 Backblaze'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.