Backblaze Correlations

BLZE Stock

USD 5.12 0.03 0.58%

The current 90-days correlation between Backblaze and Arqit Quantum is 0.29 (i.e., Modest diversification). The correlation of Backblaze 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.

Backblaze Correlation With Market

Weak diversification

The correlation between Backblaze and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Backblaze and DJI in the same portfolio, assuming nothing else is changed.

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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.

Moving together with Backblaze Stock

0.85	002410	Glodon Software	Pair Corr
0.89	AUR	Aurora Innovation Aggressive Push	Pair Corr
0.84	688590	Shanghai Newtouch	Pair Corr
0.94	BSY	Bentley Systems	Pair Corr
0.96	PTC	PTC Inc	Pair Corr
0.92	SAP	SAP SE ADR	Pair Corr
0.95	TTD	Trade Desk	Pair Corr
0.81	TYL	Tyler Technologies	Pair Corr
0.84	GWRE	Guidewire Software	Pair Corr
0.88	EVPL	Everplay Group PLC	Pair Corr
0.62	688118	Primeton Information	Pair Corr
0.85	300378	Digiwin Software	Pair Corr
0.78	002232	Qiming Information	Pair Corr
0.87	002657	Sinodata	Pair Corr
0.7	ALFA	Alfa Financial Software	Pair Corr
0.86	600536	China National Software	Pair Corr
0.88	688588	Linkage Software	Pair Corr
0.68	688232	Guotai Epoint Software	Pair Corr
0.65	688579	Dareway Software	Pair Corr
0.61	300496	Thunder Software Tec	Pair Corr

Moving against Backblaze Stock

0.85	DBD	Diebold Nixdorf	Pair Corr
0.53	300659	Zhongfu Information	Pair Corr
0.42	ZM	Zoom Video Communications	Pair Corr
0.35	MQ	Marqeta	Pair Corr
0.54	688109	Hangzhou Pinming Software	Pair Corr
0.49	603636	Linewell Software	Pair Corr
0.48	688229	Bonree Data Technology	Pair Corr
0.36	603171	Servyou Software	Pair Corr
0.76	688227	Bingo Software	Pair Corr
0.76	LNDNF	Lundin Energy AB	Pair Corr
0.51	300578	BizConf Telecom	Pair Corr
0.5	SFT	Software Circle plc	Pair Corr

Related Correlations Analysis

	ARQQ	SPT	CCSI	PRTH	CINT	NBP	DOMO	DAVA	BMBL	POET
ARQQ		0.35	0.77	0.86	0.11	0.68	0.77	0.8	0.88	0.61	ARQQ
SPT	0.35		0.32	0.42	0.25	0.19	-0.03	0.28	0.33	0.74	SPT
CCSI	0.77	0.32		0.83	0.38	0.53	0.73	0.9	0.92	0.49	CCSI
PRTH	0.86	0.42	0.83		0.2	0.61	0.69	0.78	0.93	0.65	PRTH
CINT	0.11	0.25	0.38	0.2		-0.33	0.22	0.33	0.24	0.02	CINT
NBP	0.68	0.19	0.53	0.61	-0.33		0.45	0.53	0.63	0.53	NBP
DOMO	0.77	-0.03	0.73	0.69	0.22	0.45		0.77	0.8	0.1	DOMO
DAVA	0.8	0.28	0.9	0.78	0.33	0.53	0.77		0.91	0.47	DAVA
BMBL	0.88	0.33	0.92	0.93	0.24	0.63	0.8	0.91		0.57	BMBL
POET	0.61	0.74	0.49	0.65	0.02	0.53	0.1	0.47	0.57		POET
	ARQQ	SPT	CCSI	PRTH	CINT	NBP	DOMO	DAVA	BMBL	POET

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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

BMBL	+ 0.93	PRTH
BMBL	+ 0.92	CCSI
BMBL	+ 0.91	DAVA
DAVA	+ 0.9	CCSI
BMBL	+ 0.88	ARQQ
PRTH	+ 0.86	ARQQ

High negative correlations

NBP	- 0.33	CINT
DOMO	- 0.03	SPT

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ARQQ	5.67	(1.13)	0.00	(0.15)	0.00	0.00	11.26	(10.64)	46.11
SPT	2.41	(0.27)	0.00	(0.13)	0.00	0.00	4.85	(4.92)	15.22
CCSI	2.16	(0.46)	0.00	(0.18)	0.00	0.00	3.56	(4.81)	20.98
PRTH	2.93	(0.36)	0.00	(0.05)	0.00	0.00	5.63	(5.03)	35.34
CINT	2.12	(0.14)	0.00	(0.58)	0.00	0.00	4.63	(4.74)	12.82
NBP	4.26	(0.10)	0.00	(0.08)	0.00	0.00	8.79	(9.15)	33.43
DOMO	2.58	(1.03)	0.00	(0.38)	0.00	0.00	5.02	(7.11)	28.80
DAVA	2.68	(0.50)	0.00	(0.26)	0.00	0.00	4.93	(5.07)	34.91
BMBL	2.63	(0.86)	0.00	(0.35)	0.00	0.00	3.85	(5.00)	29.73
POET	5.77	0.17	0.07	0.11	6.03	(6.63)	13.11	(9.96)	38.39

Backblaze Corporate Management

Gleb Budman	CEO CoFounder	Profile
Anu Patil	Vice Operations	Profile
Jason Wakeam	Chief Officer	Profile
Tina Cessna	Senior Engineering	Profile
Tim Nufire	Chief Director	Profile
Patrick Thomas	Vice Marketing	Profile

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