MongoDB Correlations

MDB Stock

USD 398.69 5.95 1.47%

The current 90-days correlation between MongoDB and CyberArk Software is 0.42 (i.e., Very weak diversification). The correlation of MongoDB 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.

MongoDB Correlation With Market

Poor diversification

The correlation between MongoDB and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MongoDB and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with MongoDB Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in MongoDB. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in small area income & poverty estimates.

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

Moving together with MongoDB Stock

0.68	DOCN	DigitalOcean Holdings	Pair Corr
0.64	GOOG	Alphabet Class C	Pair Corr
0.78	BMYMP	Bristol Myers Squibb	Pair Corr
0.72	AIZ	Assurant	Pair Corr
0.64	LMND	Lemonade	Pair Corr
0.71	MNHVF	Mowi ASA	Pair Corr
0.79	FCAP	First Capital	Pair Corr
0.63	USAS	Americas Silver Corp Trending	Pair Corr
0.83	KEYS	Keysight Technologies	Pair Corr

Moving against MongoDB Stock

0.76	FCT	Firstwave Cloud Tech	Pair Corr
0.54	MAPSW	WM Technology	Pair Corr
0.5	MSFT	Microsoft Earnings Call This Week	Pair Corr
0.36	GDDY	Godaddy	Pair Corr

Related Correlations Analysis

	CYBR	SMCI	IOT	SNDK	VRSN	TER	AFRM	ZM	CRDO	CHKP
CYBR		0.87	0.47	-0.45	-0.14	-0.58	0.04	-0.14	0.44	0.79	CYBR
SMCI	0.87		0.39	-0.51	-0.01	-0.68	-0.05	-0.2	0.34	0.56	SMCI
IOT	0.47	0.39		-0.68	-0.18	-0.4	-0.27	0.43	0.51	0.66	IOT
SNDK	-0.45	-0.51	-0.68		0.09	0.8	0.3	-0.13	-0.29	-0.49	SNDK
VRSN	-0.14	-0.01	-0.18	0.09		-0.18	-0.1	-0.26	-0.11	-0.19	VRSN
TER	-0.58	-0.68	-0.4	0.8	-0.18		0.31	0.28	-0.07	-0.44	TER
AFRM	0.04	-0.05	-0.27	0.3	-0.1	0.31		0.32	-0.2	0.09	AFRM
ZM	-0.14	-0.2	0.43	-0.13	-0.26	0.28	0.32		0.13	0.14	ZM
CRDO	0.44	0.34	0.51	-0.29	-0.11	-0.07	-0.2	0.13		0.4	CRDO
CHKP	0.79	0.56	0.66	-0.49	-0.19	-0.44	0.09	0.14	0.4		CHKP
	CYBR	SMCI	IOT	SNDK	VRSN	TER	AFRM	ZM	CRDO	CHKP

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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

SMCI	+ 0.87	CYBR
TER	+ 0.8	SNDK
CHKP	+ 0.79	CYBR
CHKP	+ 0.66	IOT
CHKP	+ 0.56	SMCI
CRDO	+ 0.51	IOT

High negative correlations

SNDK	- 0.68	IOT
TER	- 0.68	SMCI
TER	- 0.58	CYBR
SNDK	- 0.51	SMCI
CHKP	- 0.49	SNDK
SNDK	- 0.45	CYBR

Risk-Adjusted Indicators

There is a big difference between MongoDB Stock performing well and MongoDB 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 MongoDB'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
CYBR	1.22	(0.24)	0.00	(0.33)	0.00	0.00	1.92	(2.43)	8.14
SMCI	2.84	(0.89)	0.00	(0.46)	0.00	0.00	5.77	(6.60)	18.12
IOT	2.17	(0.30)	0.00	(0.12)	0.00	0.00	4.36	(4.37)	19.39
SNDK	5.77	1.78	0.30	0.50	5.43	(6.81)	15.31	(7.88)	36.75
VRSN	1.01	(0.13)	0.00	(0.16)	0.00	0.00	1.99	(2.77)	5.79
TER	2.56	0.68	0.25	0.41	2.28	(2.82)	6.80	(4.05)	27.80
AFRM	2.86	(0.11)	(0.01)	0.02	3.26	(3.31)	6.01	(5.17)	18.92
ZM	1.46	0.00	0.01	0.07	1.75	(1.60)	3.43	(3.14)	13.95
CRDO	3.97	(0.16)	0.00	(0.07)	0.00	0.00	10.04	(7.23)	23.45
CHKP	1.38	(0.15)	0.00	(0.11)	0.00	0.00	2.18	(2.74)	9.86

MongoDB Corporate Management

Andrew Stephens	General Secretary	Profile
Paul Capombassis	Chief Officer	Profile
May Petry	Chief Officer	Profile
Michael Berry	Chief Officer	Profile
Jess Lubert	Vice Relations	Profile

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