Endava Correlations

DAVA Stock

USD 6.25 0.07 1.11%

The current 90-days correlation between Endava and Priority Technology Holdings is 0.17 (i.e., Average 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

Good diversification

The correlation between Endava and DJI is -0.19 (i.e., 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 inflation.

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

Moving together with Endava Stock

0.71	DUG	DUG Technology	Pair Corr
0.71	BV4	BOUVET ASA NK	Pair Corr
0.78	CN6	BII Railway Transpor	Pair Corr
0.62	TDTH	Trident Digital Tech	Pair Corr
0.87	TSSI	TSS Common Stock Potential Growth	Pair Corr

Moving against Endava Stock

0.66	E3M	EPAM Systems	Pair Corr
0.58	FPG	Union Technologies	Pair Corr
0.51	INFY	Infosys Ltd ADR	Pair Corr
0.38	CGM	Capgemini SE	Pair Corr
0.35	GIB	CGI Inc	Pair Corr
0.35	WIT	Wipro Limited ADR Buyout Trend	Pair Corr
0.33	DM	Datametrex AI	Pair Corr
0.79	TLKMF	Telkom Indonesia Tbk	Pair Corr
0.67	PXXXF	PolarX Limited	Pair Corr
0.62	PPERY	Bank Mandiri Persero Earnings Call This Week	Pair Corr
0.6	TLK	Telkom Indonesia Tbk	Pair Corr
0.55	CTSH	Cognizant Technology Earnings Call This Week	Pair Corr
0.41	FET	Forum Energy Technologies	Pair Corr
0.38	TYHOF	Toyota Tsusho Earnings Call Tomorrow	Pair Corr
0.34	EC	Ecopetrol SA ADR	Pair Corr
0.31	PTAIY	Astra International Tbk	Pair Corr

Related Correlations Analysis

	PRTH	CCSI	OSPN	CINT	IMXI	BAND	IBEX	BLZE	CLMB	ARQQ
PRTH		0.7	0.48	0.44	-0.4	0.56	0.27	0.84	0.62	0.71	PRTH
CCSI	0.7		0.4	0.19	-0.65	0.65	0.19	0.9	0.3	0.83	CCSI
OSPN	0.48	0.4		-0.04	-0.31	0.71	0.29	0.52	0.41	0.55	OSPN
CINT	0.44	0.19	-0.04		0.16	0.03	0.31	0.22	0.58	0.14	CINT
IMXI	-0.4	-0.65	-0.31	0.16		-0.45	0.4	-0.71	0.04	-0.73	IMXI
BAND	0.56	0.65	0.71	0.03	-0.45		0.29	0.67	0.16	0.65	BAND
IBEX	0.27	0.19	0.29	0.31	0.4	0.29		0.16	0.49	-0.02	IBEX
BLZE	0.84	0.9	0.52	0.22	-0.71	0.67	0.16		0.48	0.91	BLZE
CLMB	0.62	0.3	0.41	0.58	0.04	0.16	0.49	0.48		0.39	CLMB
ARQQ	0.71	0.83	0.55	0.14	-0.73	0.65	-0.02	0.91	0.39		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	+ 0.91	BLZE
BLZE	+ 0.9	CCSI
BLZE	+ 0.84	PRTH
ARQQ	+ 0.83	CCSI
ARQQ	+ 0.71	PRTH
BAND	+ 0.71	OSPN

High negative correlations

ARQQ	- 0.73	IMXI
BLZE	- 0.71	IMXI
IMXI	- 0.65	CCSI
BAND	- 0.45	IMXI
IMXI	- 0.4	PRTH
IMXI	- 0.31	OSPN

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	2.48	(0.32)	0.00	(0.08)	0.00	0.00	5.63	(4.74)	34.79
CCSI	2.07	(0.41)	0.00	(0.17)	0.00	0.00	3.55	(5.06)	20.98
OSPN	2.14	(0.40)	0.00	(0.38)	0.00	0.00	3.47	(4.97)	28.76
CINT	2.14	0.01	0.01	0.04	2.73	(2.22)	5.51	(4.74)	12.99
IMXI	0.19	0.05	0.08	0.86	0.00	(0.27)	0.40	(0.33)	1.45
BAND	1.68	(0.30)	0.00	(0.34)	0.00	0.00	3.66	(3.75)	12.36
IBEX	1.34	(0.07)	0.00	(0.03)	0.00	0.00	2.60	(3.06)	8.63
BLZE	2.75	(1.20)	0.00	(0.42)	0.00	0.00	3.85	(6.25)	36.91
CLMB	2.05	(0.16)	0.00	(0.09)	0.00	0.00	4.28	(5.36)	13.98
ARQQ	4.33	(1.23)	0.00	(0.34)	0.00	0.00	7.11	(9.81)	21.99

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