MondayCom Correlations

MNDY Stock

USD 98.00 3.41 3.61%

The current 90-days correlation between MondayCom and Paycom Software is 0.35 (i.e., Weak diversification). The correlation of MondayCom 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. If the correlation is 0, the equities are not correlated; they are entirely random.

MondayCom Correlation With Market

Excellent diversification

The correlation between MondayCom and DJI is -0.6 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MondayCom and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with MondayCom Stock

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

For more information on how to buy MondayCom Stock please use our How to Invest in MondayCom guide.

Moving together with MondayCom Stock

0.94	DT	Dynatrace Holdings LLC	Pair Corr
0.85	PD	Pagerduty	Pair Corr
0.84	DOMO	Domo Inc	Pair Corr
0.81	ESTC	Elastic NV	Pair Corr
0.66	BMR	Beamr Imaging	Pair Corr
0.94	TTD	Trade Desk	Pair Corr
0.92	HUBS	HubSpot	Pair Corr
0.82	INTU	Intuit Inc	Pair Corr
0.88	LPSN	LivePerson	Pair Corr
0.92	PAYC	Paycom Software Earnings Call This Week	Pair Corr
0.87	PHUN	Phunware	Pair Corr
0.81	ADSK	Autodesk	Pair Corr
0.84	TEAM	Atlassian Corp Plc	Pair Corr
0.71	DDOG	Datadog Earnings Call This Week	Pair Corr

Moving against MondayCom Stock

0.66	SLF	Sun Life Financial Earnings Call This Week	Pair Corr
0.59	ASUR	Asure Software	Pair Corr
0.94	JNJ	Johnson Johnson	Pair Corr
0.89	MRK	Merck Company Aggressive Push	Pair Corr
0.86	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.8	KO	Coca Cola Aggressive Push	Pair Corr
0.77	CVX	Chevron Corp	Pair Corr
0.77	CAT	Caterpillar	Pair Corr
0.77	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.64	BA	Boeing	Pair Corr
0.64	INTC	Intel Aggressive Push	Pair Corr
0.62	CSCO	Cisco Systems Earnings Call This Week	Pair Corr
0.55	PG	Procter Gamble	Pair Corr
0.48	GLUC	Glucose Health	Pair Corr
0.34	TRV	The Travelers Companies	Pair Corr
0.33	HD	Home Depot	Pair Corr
0.32	NIHK	Video River Networks	Pair Corr

Related Correlations Analysis

	PAYC	IDCC	PEGA	MANH	OTEX	GTM	DAY	PCOR	APPF	ESTC
PAYC		0.47	0.85	0.87	0.97	0.91	-0.61	0.86	0.91	0.74	PAYC
IDCC	0.47		0.2	0.22	0.41	0.3	-0.59	0.25	0.45	0.39	IDCC
PEGA	0.85	0.2		0.85	0.91	0.92	-0.39	0.92	0.86	0.65	PEGA
MANH	0.87	0.22	0.85		0.89	0.88	-0.43	0.9	0.85	0.65	MANH
OTEX	0.97	0.41	0.91	0.89		0.95	-0.58	0.92	0.92	0.74	OTEX
GTM	0.91	0.3	0.92	0.88	0.95		-0.49	0.88	0.92	0.73	GTM
DAY	-0.61	-0.59	-0.39	-0.43	-0.58	-0.49		-0.51	-0.69	-0.7	DAY
PCOR	0.86	0.25	0.92	0.9	0.92	0.88	-0.51		0.86	0.69	PCOR
APPF	0.91	0.45	0.86	0.85	0.92	0.92	-0.69	0.86		0.83	APPF
ESTC	0.74	0.39	0.65	0.65	0.74	0.73	-0.7	0.69	0.83		ESTC
	PAYC	IDCC	PEGA	MANH	OTEX	GTM	DAY	PCOR	APPF	ESTC

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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

OTEX	+ 0.97	PAYC
GTM	+ 0.95	OTEX
GTM	+ 0.92	PEGA
PCOR	+ 0.92	PEGA
PCOR	+ 0.92	OTEX
APPF	+ 0.92	OTEX

High negative correlations

ESTC	- 0.7	DAY
APPF	- 0.69	DAY
DAY	- 0.61	PAYC
DAY	- 0.59	IDCC
DAY	- 0.58	OTEX
PCOR	- 0.51	DAY

Risk-Adjusted Indicators

There is a big difference between MondayCom Stock performing well and MondayCom 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 MondayCom'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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PAYC	1.60	(0.57)	0.00	(0.58)	0.00	2.58	(3.80)	11.72
IDCC	1.88	(0.11)	0.00	(0.15)	0.00	5.50	(3.96)	13.49
PEGA	2.13	(0.74)	0.00	(0.58)	0.00	4.59	(6.08)	15.04
MANH	1.53	(0.40)	0.00	(0.33)	0.00	2.52	(4.20)	13.27
OTEX	1.59	(0.73)	0.00	(0.40)	0.00	1.61	(3.92)	8.74
GTM	2.06	(0.82)	0.00	(0.43)	0.00	4.11	(5.69)	17.95
DAY	0.15	0.03	(0.36)	(0.27)	(0.19)	0.29	(0.25)	0.93
PCOR	1.90	(0.60)	0.00	(0.57)	0.00	3.26	(4.73)	20.52
APPF	1.60	(0.66)	0.00	(0.42)	0.00	2.91	(4.28)	11.62
ESTC	2.28	(0.70)	0.00	(0.51)	0.00	3.82	(7.02)	18.64

MondayCom Corporate Management

Byron Stephen	Director Relations	Profile
Daniel Lereya	Chief Officer	Profile
Adi Dar	Chief Officer	Profile
Eliran Glazer	Chief Officer	Profile
Roy Mann	CoCEO CoFounder	Profile
Yoni Osherov	Chief Officer	Profile
Ouriel Weisz	Vice Operations	Profile

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