| BSY Stock | | | USD 48.51 0.73 1.53% |
The current 90-days correlation between Bentley Systems and Paycor HCM is 0.3 (i.e., Weak diversification). The correlation of Bentley Systems 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. If the correlation is 0, the equities are not correlated; they are entirely random.
Bentley Systems Correlation With Market
Weak diversification
The correlation between Bentley Systems and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bentley Systems 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 Bentley Systems. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as
signals in state.
For more information on how to buy Bentley Stock please use our
How to Invest in Bentley Systems guide.