Endava Correlations

DAVA Stock

USD 4.91 0.16 3.37%

The current 90-days correlation between Endava and Priority Technology Holdings is 0.43 (i.e., Very weak diversification). The correlation of Endava 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.

Endava Correlation With Market

Very good diversification

The correlation between Endava and DJI is -0.33 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Endava and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Endava Stock

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

For information on how to trade Endava Stock refer to our How to Trade Endava Stock guide.

Moving together with Endava Stock

0.82	SOP	Sopra Steria Group	Pair Corr
0.93	IT	Gartner	Pair Corr
0.89	KD	Kyndryl Holdings	Pair Corr
0.68	IL8	IT Link SA	Pair Corr
0.65	DUG	DUG Technology	Pair Corr
0.7	AN3	Alten SA	Pair Corr
0.73	CVB	Computer And Technologies	Pair Corr
0.89	7XU	KYNDRYL HLDGS INC	Pair Corr
0.92	EPAM	EPAM Systems	Pair Corr
0.72	NCR1	NCR Corporation	Pair Corr
0.94	LHV	ExlService Holdings	Pair Corr
0.95	ACN	Accenture plc	Pair Corr
0.62	1S3	SeSa SpA	Pair Corr
0.73	BAH	Booz Allen Hamilton	Pair Corr
0.9	DOX	Amdocs	Pair Corr
0.72	DXC	DXC Technology	Pair Corr

Moving against Endava Stock

0.68	MI	NFT Limited	Pair Corr
0.59	BEO	Beonic	Pair Corr
0.48	FDM	FDM Group Holdings	Pair Corr
0.43	DM	Datametrex AI Earnings Call This Week	Pair Corr
0.46	G40	GDS Holdings Limited	Pair Corr

Related Correlations Analysis

	PRTH	CCSI	OSPN	CINT	IMXI	BAND	IBEX	BLZE	CLMB	ARQQ
PRTH		-0.35	0.25	0.21	0.01	0.06	0.45	0.47	0.27	0.43	PRTH
CCSI	-0.35		-0.54	0.32	0.67	-0.17	-0.83	-0.62	-0.11	-0.66	CCSI
OSPN	0.25	-0.54		-0.6	-0.46	0.7	0.78	0.82	-0.21	0.78	OSPN
CINT	0.21	0.32	-0.6		0.53	-0.45	-0.33	-0.42	0.5	-0.47	CINT
IMXI	0.01	0.67	-0.46	0.53		-0.26	-0.45	-0.36	0.35	-0.59	IMXI
BAND	0.06	-0.17	0.7	-0.45	-0.26		0.45	0.52	-0.48	0.47	BAND
IBEX	0.45	-0.83	0.78	-0.33	-0.45	0.45		0.8	0.14	0.7	IBEX
BLZE	0.47	-0.62	0.82	-0.42	-0.36	0.52	0.8		0.1	0.83	BLZE
CLMB	0.27	-0.11	-0.21	0.5	0.35	-0.48	0.14	0.1		-0.16	CLMB
ARQQ	0.43	-0.66	0.78	-0.47	-0.59	0.47	0.7	0.83	-0.16		ARQQ
	PRTH	CCSI	OSPN	CINT	IMXI	BAND	IBEX	BLZE	CLMB	ARQQ

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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

ARQQ	+ 0.83	BLZE
BLZE	+ 0.82	OSPN
BLZE	+ 0.8	IBEX
IBEX	+ 0.78	OSPN
ARQQ	+ 0.78	OSPN
BAND	+ 0.7	OSPN

High negative correlations

IBEX	- 0.83	CCSI
ARQQ	- 0.66	CCSI
BLZE	- 0.62	CCSI
CINT	- 0.6	OSPN
ARQQ	- 0.59	IMXI
OSPN	- 0.54	CCSI

Risk-Adjusted Indicators

There is a big difference between Endava Stock performing well and Endava 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 Endava'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
PRTH	1.77	(0.03)	0.01	0.09	1.95	(2.09)	4.14	(3.14)	11.39
CCSI	2.18	0.52	0.24	0.50	1.85	(2.69)	4.59	(4.18)	13.90
OSPN	1.73	(0.21)	0.00	(0.04)	0.00	0.00	3.63	(5.10)	10.77
CINT	2.28	0.02	0.04	0.12	2.74	(2.46)	5.51	(5.14)	12.99
IMXI	0.19	0.05	(0.31)	0.71	0.00	(0.28)	0.40	(0.20)	1.35
BAND	2.00	0.09	0.03	0.22	2.63	(2.19)	4.40	(3.75)	19.60
IBEX	1.70	(0.36)	0.00	(0.16)	0.00	0.00	2.70	(5.15)	12.38
BLZE	2.37	(0.27)	0.00	(0.12)	0.00	0.00	5.49	(4.76)	21.75
CLMB	2.01	(0.27)	0.00	(0.12)	0.00	0.00	4.03	(6.01)	16.27
ARQQ	4.06	(0.78)	0.00	(0.10)	0.00	0.00	7.88	(9.18)	25.62

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