Salesforce Correlations

CRM Stock

USD 184.30 5.42 2.86%

The current 90-days correlation between Salesforce and Shopify is 0.32 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Salesforce moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Salesforce moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Salesforce Correlation With Market

Very good diversification

The correlation between Salesforce and DJI is -0.29 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Salesforce and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Salesforce Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Salesforce. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in real.

To learn how to invest in Salesforce Stock, please use our How to Invest in Salesforce guide.

Moving together with Salesforce Stock

0.9	U	Unity Software	Pair Corr
0.71	BGE	Bridge Saas	Pair Corr
0.7	9NY	BYTES TECHGRP LS	Pair Corr
0.89	BL	Blackline	Pair Corr
0.78	DT	Dynatrace Holdings LLC	Pair Corr
0.87	DV	DoubleVerify Holdings	Pair Corr
0.8	35U	PAR TECHNOLOGY DL	Pair Corr
0.86	MQ	Marqeta	Pair Corr
0.69	PD	Pagerduty	Pair Corr
0.71	QH	Quhuo	Pair Corr
0.78	WK	Workiva	Pair Corr
0.68	DMRC	Digimarc	Pair Corr
0.87	RM	RM Plc	Pair Corr
0.64	2TY	PagerDuty	Pair Corr
0.89	DOCU	DocuSign	Pair Corr
0.87	VERI	Veritone Downward Rally	Pair Corr
0.82	VERX	Vertex	Pair Corr
0.86	6NCA	NCINO INC DL	Pair Corr
0.92	DSGX	Descartes Systems	Pair Corr
0.66	LY0	Lyft Inc	Pair Corr
0.81	0M5	Bill Holdings	Pair Corr
0.61	AN5	Alpha Systems	Pair Corr

Moving against Salesforce Stock

0.83	60Z	UNIFIEDPOST GRP SANV	Pair Corr
0.65	JG	Aurora Mobile	Pair Corr
0.65	DSG	Dillistone Group PLC	Pair Corr
0.55	RNI	OXFORD METRICS LS	Pair Corr
0.54	XV7	SERESCO 16	Pair Corr
0.62	89P	CLAVISTER HOLDING	Pair Corr
0.33	MKQ	Mitek Systems	Pair Corr
0.33	EGHT	8x8 Common Stock	Pair Corr

Related Correlations Analysis

	SHOP	UBER	APP	MU	NOW	IBM	CSCO	LRCX
SHOP		0.55	0.94	-0.61	0.75	0.66	-0.55	-0.53	SHOP
UBER	0.55		0.48	-0.62	0.79	0.61	-0.45	-0.6	UBER
APP	0.94	0.48		-0.57	0.72	0.63	-0.39	-0.5	APP
MU	-0.61	-0.62	-0.57		-0.9	-0.44	0.31	0.98	MU
NOW	0.75	0.79	0.72	-0.9		0.6	-0.44	-0.89	NOW
IBM	0.66	0.61	0.63	-0.44	0.6		-0.15	-0.39	IBM
CSCO	-0.55	-0.45	-0.39	0.31	-0.44	-0.15		0.26	CSCO
LRCX	-0.53	-0.6	-0.5	0.98	-0.89	-0.39	0.26		LRCX
	SHOP	UBER	APP	MU	NOW	IBM	CSCO	LRCX

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

LRCX	+ 0.98	MU
APP	+ 0.94	SHOP
NOW	+ 0.79	UBER
NOW	+ 0.75	SHOP
NOW	+ 0.72	APP
IBM	+ 0.66	SHOP

High negative correlations

NOW	- 0.9	MU
LRCX	- 0.89	NOW
MU	- 0.62	UBER
MU	- 0.61	SHOP
LRCX	- 0.6	UBER
MU	- 0.57	APP

Risk-Adjusted Indicators

There is a big difference between Salesforce Stock performing well and Salesforce 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 Salesforce'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
SHOP	2.58	(0.48)	0.00	(1.35)	0.00	0.00	5.33	(6.78)	15.50
UBER	1.50	(0.42)	0.00	1.46	0.00	0.00	2.41	(3.82)	11.09
APP	3.84	(0.64)	0.00	(1.89)	0.00	0.00	6.44	(8.66)	32.87
MU	3.57	0.84	0.20	(3.28)	3.47	(4.13)	9.94	(5.56)	20.06
NOW	2.10	(0.68)	0.00	2.08	0.00	0.00	2.69	(6.97)	13.48
IBM	1.58	(0.33)	0.00	(0.20)	0.00	0.00	2.61	(4.69)	11.62
CSCO	1.30	0.10	0.03	0.17	2.41	(1.40)	3.06	(2.35)	16.94
LRCX	2.78	0.57	0.16	2.35	3.06	(3.05)	7.00	(5.07)	17.49

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