Manhattan Associates Correlations

MANH Stock

USD 290.74 10.34 3.69%

The current 90-days correlation between Manhattan Associates and Blackbaud is 0.51 (i.e., Very weak diversification). The correlation of Manhattan Associates 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.

Manhattan Associates Correlation With Market

Poor diversification

The correlation between Manhattan Associates and DJI is 0.63 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Manhattan Associates 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 Manhattan Associates. 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 more detail on how to invest in Manhattan Stock please use our How to Invest in Manhattan Associates guide.

Moving together with Manhattan Stock

0.71	U	Unity Software Trending	Pair Corr
0.68	DT	Dynatrace Holdings LLC Sell-off Trend	Pair Corr
0.69	QH	Quhuo	Pair Corr

Moving against Manhattan Stock

0.57	VERB	VERB TECHNOLOGY PANY Trending	Pair Corr
0.54	DMAN	Innovativ Media Group	Pair Corr
0.5	EGAN	eGain	Pair Corr
0.49	VCSA	Vacasa Inc	Pair Corr
0.35	DTRK	DATATRAK International	Pair Corr
0.33	EB	Eventbrite Class A	Pair Corr
0.48	EVOL	Evolving Systems	Pair Corr
0.47	WALDW	Waldencast Acquisition	Pair Corr
0.4	ETWO	E2open Parent Holdings	Pair Corr
0.4	EZFL	EzFill Holdings	Pair Corr
0.33	SBIGW	SpringBig Holdings	Pair Corr
0.32	EXFY	Expensify Tech Boost	Pair Corr
0.31	WBTN	WEBTOON Entertainment	Pair Corr

Related Correlations Analysis

	BLKB	BSY	PCTY	ANSS	BL	AZPN	DV	ROP	GWRE	CDAY
BLKB		0.18	0.09	0.28	0.33	0.27	0.04	0.52	0.25	0.02	BLKB
BSY	0.18		-0.34	-0.1	-0.23	-0.32	-0.16	0.16	-0.33	-0.28	BSY
PCTY	0.09	-0.34		0.82	0.83	0.78	0.52	0.43	0.7	0.63	PCTY
ANSS	0.28	-0.1	0.82		0.82	0.71	0.49	0.5	0.67	0.63	ANSS
BL	0.33	-0.23	0.83	0.82		0.84	0.19	0.35	0.87	0.68	BL
AZPN	0.27	-0.32	0.78	0.71	0.84		0.15	0.37	0.86	0.45	AZPN
DV	0.04	-0.16	0.52	0.49	0.19	0.15		0.48	-0.14	0.45	DV
ROP	0.52	0.16	0.43	0.5	0.35	0.37	0.48		0.2	0.09	ROP
GWRE	0.25	-0.33	0.7	0.67	0.87	0.86	-0.14	0.2		0.39	GWRE
CDAY	0.02	-0.28	0.63	0.63	0.68	0.45	0.45	0.09	0.39		CDAY
	BLKB	BSY	PCTY	ANSS	BL	AZPN	DV	ROP	GWRE	CDAY

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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

GWRE	+ 0.87	BL
GWRE	+ 0.86	AZPN
AZPN	+ 0.84	BL
BL	+ 0.83	PCTY
ANSS	+ 0.82	PCTY
BL	+ 0.82	ANSS

High negative correlations

PCTY	- 0.34	BSY
GWRE	- 0.33	BSY
AZPN	- 0.32	BSY
CDAY	- 0.28	BSY
BL	- 0.23	BSY
DV	- 0.16	BSY

Risk-Adjusted Indicators

There is a big difference between Manhattan Stock performing well and Manhattan Associates 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 Manhattan Associates' 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
BLKB	1.35	(0.04)	0.01	0.10	2.92	(1.33)	2.93	(2.08)	18.39
BSY	1.27	(0.12)	0.00	(0.05)	0.00	0.00	2.30	(3.12)	8.31
PCTY	1.44	0.27	0.21	0.30	1.24	(1.68)	3.31	(2.49)	12.27
ANSS	1.18	(0.01)	0.00	0.11	1.38	(1.23)	2.76	(2.32)	10.35
BL	1.42	0.18	0.16	0.23	1.29	(1.59)	3.61	(2.19)	7.65
AZPN	1.04	0.12	0.07	0.27	1.11	(1.13)	2.39	(2.08)	8.52
DV	1.60	(0.09)	(0.02)	0.06	1.94	(1.80)	3.51	(4.04)	10.96
ROP	0.76	(0.08)	(0.09)	0.04	0.94	(0.80)	1.34	(1.47)	6.98
GWRE	0.98	0.44	0.43	1.01	0.00	(1.26)	2.79	(1.56)	14.09
CDAY	1.80	0.05	(0.05)	(0.01)	2.40	(1.87)	3.66	(3.19)	11.32

Manhattan Associates Corporate Management

Bruce Richards	Chief Legal Officer, Sr. VP and Secretary	Profile
Ann Ruckstuhl	Senior Officer	Profile
Henri Seroux	Senior EMEA	Profile
Suzanne Hough	Senior Officer	Profile

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