Datadog Correlations

D1DG34 Stock

BRL 57.13 2.59 4.34%

The current 90-days correlation between Datadog and Cognizant Technology Solutions is 0.06 (i.e., Significant diversification). The correlation of Datadog 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.

Datadog Correlation With Market

Pay attention - limited upside

The correlation between Datadog and DJI is -0.82 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Datadog and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Datadog could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Datadog when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Datadog - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Datadog to buy it.

Moving together with Datadog Stock

0.9	N1OW34	ServiceNow Split	Pair Corr
0.77	U1BE34	Uber Technologies	Pair Corr
0.68	S2HO34	Shopify	Pair Corr
0.91	S2NW34	Snowflake	Pair Corr
0.86	A1UT34	Autodesk	Pair Corr
0.81	T1AM34	Atlassian Plc	Pair Corr
0.81	T2TD34	Trade Desk	Pair Corr
0.91	SNEC34	Sony Group	Pair Corr
0.76	H1DB34	HDFC Bank Limited	Pair Corr
0.71	JDCO34	JD Inc Earnings Call This Week	Pair Corr

Moving against Datadog Stock

0.88	TSMC34	Taiwan Semiconductor	Pair Corr
0.87	S1MF34	Sumitomo Mitsui Financial	Pair Corr
0.86	TMCO34	Toyota Motor	Pair Corr
0.85	M1UF34	Mitsubishi UFJ Financial	Pair Corr
0.79	B1SA34	Banco Santander Chile	Pair Corr
0.77	NMRH34	Nomura Holdings	Pair Corr
0.88	C1FG34	Citizens Financial	Pair Corr
0.86	KLBN3	Klabin SA Split	Pair Corr
0.8	SMTO3F	SMTO3F	Pair Corr
0.79	E1CO34	Ecopetrol SA	Pair Corr
0.76	LUPA3	Lupatech SA	Pair Corr
0.7	BBDC3	Banco Bradesco SA	Pair Corr
0.69	CMIG4	Companhia Energtica	Pair Corr
0.69	BBAS3	Banco do Brasil	Pair Corr
0.66	FESA4F	FESA4F	Pair Corr
0.55	JOPA3	JOSAPAR Joaquim Oliveira	Pair Corr
0.5	KEPL3	Kepler Weber SA	Pair Corr
0.49	BILB34	Banco Bilbao Vizcaya	Pair Corr
0.41	RAPT3	Randon SA Implementos	Pair Corr
0.41	WUNI34	Western Union	Pair Corr
0.38	KEPL3F	KEPL3F	Pair Corr
0.89	BRSR6	Banco do Estado	Pair Corr
0.88	A1MT34	Applied Materials	Pair Corr
0.86	EUCA4	Eucatex SA Indstria	Pair Corr
0.86	TOPP11	Rbr Top Offices	Pair Corr

Related Correlations Analysis

	TELB4	TSMC34	CTSH34	S1KM34	D1RI34	M2PW34	S1PO34
TELB4		-0.47	-0.63	-0.27	-0.54	0.39	0.42	TELB4
TSMC34	-0.47		0.58	0.76	0.83	0.08	-0.77	TSMC34
CTSH34	-0.63	0.58		0.23	0.41	-0.35	-0.29	CTSH34
S1KM34	-0.27	0.76	0.23		0.73	0.05	-0.85	S1KM34
D1RI34	-0.54	0.83	0.41	0.73		-0.02	-0.85	D1RI34
M2PW34	0.39	0.08	-0.35	0.05	-0.02		0.05	M2PW34
S1PO34	0.42	-0.77	-0.29	-0.85	-0.85	0.05		S1PO34
	TELB4	TSMC34	CTSH34	S1KM34	D1RI34	M2PW34	S1PO34

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

D1RI34	+ 0.83	TSMC34
S1KM34	+ 0.76	TSMC34
D1RI34	+ 0.73	S1KM34
CTSH34	+ 0.58	TSMC34
S1PO34	+ 0.42	TELB4
D1RI34	+ 0.41	CTSH34

High negative correlations

S1PO34	- 0.85	D1RI34
S1PO34	- 0.85	S1KM34
S1PO34	- 0.77	TSMC34
CTSH34	- 0.63	TELB4
D1RI34	- 0.54	TELB4
TSMC34	- 0.47	TELB4

Risk-Adjusted Indicators

There is a big difference between Datadog Stock performing well and Datadog 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 Datadog'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
TELB4	1.62	0.02	(0.01)	0.13	2.11	(2.05)	4.55	(2.75)	13.98
TSMC34	1.71	0.35	0.16	0.75	1.53	(1.92)	4.09	(2.92)	10.38
CTSH34	0.63	0.23	0.00	0.64	0.00	0.00	0.27	0.00	17.88
S1KM34	1.55	0.57	0.25	1.15	0.60	(3.44)	4.13	(1.94)	17.45
D1RI34	0.45	0.14	0.00	0.79	0.00	0.00	0.00	0.00	12.28
M2PW34	2.12	0.36	0.08	(1.01)	2.54	(2.50)	4.94	(3.51)	19.37
S1PO34	2.53	(0.26)	0.00	0.91	0.00	0.00	4.66	(6.15)	24.61

Be your own money manager

Our tools can tell you how much better you can do entering a position in Datadog without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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