Nextdoor Holdings Correlations

KIND Stock

USD 2.75 0.01 0.36%

The current 90-days correlation between Nextdoor Holdings and Groupon is 0.26 (i.e., Modest diversification). The correlation of Nextdoor Holdings 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.

Nextdoor Holdings Correlation With Market

Weak diversification

The correlation between Nextdoor Holdings and DJI is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nextdoor Holdings and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Nextdoor Holdings. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

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

Moving together with Nextdoor Stock

0.63	Z	Zillow Group Class Earnings Call This Week	Pair Corr
0.64	BZ	Kanzhun Ltd ADR	Pair Corr
0.62	EVER	EverQuote Class A	Pair Corr
0.65	TEM	Tempus AI, Class Buyout Trend	Pair Corr
0.66	TME	Tencent Music Entert Buyout Trend	Pair Corr
0.69	META	Meta Platforms Aggressive Push	Pair Corr

Moving against Nextdoor Stock

0.36	DJTWW	Trump Media Technology Symbol Change	Pair Corr
0.33	DJT	Trump Media Technology Symbol Change	Pair Corr
0.5	GITS	Global Interactive Symbol Change	Pair Corr

Related Correlations Analysis

	IAC	YELP	GRPN	OB	SNAP	TWLO	FVRR	SPOT	BIDU	PINS
IAC		-0.55	-0.26	-0.67	0.29	-0.5	-0.01	-0.31	0.1	-0.22	IAC
YELP	-0.55		0.6	0.64	0.16	0.66	0.43	0.41	0.33	0.44	YELP
GRPN	-0.26	0.6		0.71	0.31	0.31	0.48	0.23	0.28	0.4	GRPN
OB	-0.67	0.64	0.71		-0.04	0.41	0.42	0.31	0.27	0.31	OB
SNAP	0.29	0.16	0.31	-0.04		-0.21	0.52	-0.27	-0.15	-0.12	SNAP
TWLO	-0.5	0.66	0.31	0.41	-0.21		-0.03	0.86	0.57	0.76	TWLO
FVRR	-0.01	0.43	0.48	0.42	0.52	-0.03		0.01	0.06	0.11	FVRR
SPOT	-0.31	0.41	0.23	0.31	-0.27	0.86	0.01		0.59	0.88	SPOT
BIDU	0.1	0.33	0.28	0.27	-0.15	0.57	0.06	0.59		0.6	BIDU
PINS	-0.22	0.44	0.4	0.31	-0.12	0.76	0.11	0.88	0.6		PINS
	IAC	YELP	GRPN	OB	SNAP	TWLO	FVRR	SPOT	BIDU	PINS

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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

PINS	+ 0.88	SPOT
SPOT	+ 0.86	TWLO
PINS	+ 0.76	TWLO
OB	+ 0.71	GRPN
TWLO	+ 0.66	YELP
OB	+ 0.64	YELP

High negative correlations

OB	- 0.67	IAC
YELP	- 0.55	IAC
TWLO	- 0.5	IAC
SPOT	- 0.31	IAC
SPOT	- 0.27	SNAP
GRPN	- 0.26	IAC

Risk-Adjusted Indicators

There is a big difference between Nextdoor Stock performing well and Nextdoor Holdings 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 Nextdoor Holdings' 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
IAC	1.60	(0.17)	0.00	(0.29)	0.00	0.00	3.07	(3.33)	15.63
YELP	1.43	0.07	0.03	0.10	2.11	(1.46)	2.93	(3.45)	8.76
GRPN	3.24	0.39	0.06	(2.09)	5.54	(3.35)	8.24	(5.28)	34.33
OB	2.71	0.51	0.20	0.91	2.35	(3.50)	7.66	(4.15)	19.65
SNAP	2.33	(0.12)	0.00	(0.24)	0.00	0.00	5.01	(5.24)	15.79
TWLO	2.06	0.52	0.16	0.50	2.97	(2.39)	3.69	(2.82)	21.34
FVRR	2.10	0.20	0.09	0.39	2.02	(2.61)	4.83	(3.81)	10.50
SPOT	1.75	0.73	0.35	0.77	1.50	(2.08)	3.41	(3.23)	16.86
BIDU	2.08	0.17	0.06	0.32	2.75	(2.03)	5.07	(4.58)	12.45
PINS	1.98	0.47	0.25	(1.40)	1.46	(2.47)	4.75	(3.41)	20.27

Nextdoor Holdings Corporate Management

Kelsey Grady	Head Communications	Profile
Bryan Power	Chief Officer	Profile
Jose Gaztelu	Head Strategy	Profile
Matt Anderson	Head Relations	Profile
Jennie Sager	Global Director	Profile
John Williams	Head Relations	Profile

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