MondayCom Correlations

MNDY Stock

USD 126.70 6.11 4.60%

The current 90-days correlation between MondayCom and Paycom Software is 0.28 (i.e., Modest 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

Average diversification

The correlation between MondayCom and DJI is 0.16 (i.e., Average 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 small area income & poverty estimates.

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	BSY	Bentley Systems	Pair Corr
0.88	PTC	PTC Inc Sell-off Trend	Pair Corr
0.87	SAP	SAP SE ADR	Pair Corr
0.92	TTD	Trade Desk	Pair Corr
0.74	TYL	Tyler Technologies	Pair Corr
0.83	GWRE	Guidewire Software	Pair Corr
0.84	FNMFO	Federal National Mortgage	Pair Corr

Moving against MondayCom Stock

0.8	DBD	Diebold Nixdorf	Pair Corr
0.7	KB	KB Financial Group	Pair Corr
0.57	SHG	Shinhan Financial	Pair Corr
0.51	SSNC	SSC Technologies Holdings	Pair Corr
0.33	AVAL	Grupo Aval	Pair Corr
0.31	MQ	Marqeta	Pair Corr
0.8	BCH	Banco De Chile	Pair Corr
0.75	WSFS	WSFS Financial	Pair Corr
0.69	ATI	Allegheny Technologies	Pair Corr
0.63	WF	Woori Financial Group	Pair Corr
0.63	ACR-PC	ACRES Commercial Realty	Pair Corr
0.62	NMIH	NMI Holdings	Pair Corr
0.61	ACN	Accenture plc	Pair Corr
0.54	F	Ford Motor	Pair Corr
0.5	SANM	Sanmina Tech Boost	Pair Corr
0.43	BOF	BranchOut Food Common	Pair Corr
0.37	ASXSF	Elysee Development Corp	Pair Corr

Related Correlations Analysis

	PAYC	IDCC	PEGA	MANH	OTEX	GTM	DAY	PCOR	APPF	ESTC
PAYC		0.71	0.32	0.91	0.97	0.61	-0.85	-0.11	0.38	0.52	PAYC
IDCC	0.71		0.34	0.53	0.78	0.57	-0.79	0.24	0.63	0.56	IDCC
PEGA	0.32	0.34		0.15	0.41	0.7	-0.13	0.35	0.5	0.38	PEGA
MANH	0.91	0.53	0.15		0.85	0.46	-0.76	-0.06	0.22	0.35	MANH
OTEX	0.97	0.78	0.41	0.85		0.71	-0.87	-0.03	0.5	0.58	OTEX
GTM	0.61	0.57	0.7	0.46	0.71		-0.46	0.21	0.71	0.59	GTM
DAY	-0.85	-0.79	-0.13	-0.76	-0.87	-0.46		0.03	-0.47	-0.61	DAY
PCOR	-0.11	0.24	0.35	-0.06	-0.03	0.21	0.03		0.44	0.25	PCOR
APPF	0.38	0.63	0.5	0.22	0.5	0.71	-0.47	0.44		0.71	APPF
ESTC	0.52	0.56	0.38	0.35	0.58	0.59	-0.61	0.25	0.71		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
MANH	+ 0.91	PAYC
OTEX	+ 0.85	MANH
OTEX	+ 0.78	IDCC
IDCC	+ 0.71	PAYC
GTM	+ 0.71	OTEX

High negative correlations

DAY	- 0.87	OTEX
DAY	- 0.85	PAYC
DAY	- 0.79	IDCC
DAY	- 0.76	MANH
ESTC	- 0.61	DAY
APPF	- 0.47	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	1.40	(0.54)	0.00	(0.39)	0.00	2.58	(3.50)	13.60
IDCC	1.97	(0.25)	0.00	(0.30)	0.00	3.47	(4.57)	17.55
PEGA	1.97	(0.14)	0.00	(0.10)	0.00	4.17	(3.87)	21.06
MANH	1.24	(0.27)	0.00	(0.35)	0.00	2.32	(3.48)	7.27
OTEX	1.10	(0.46)	0.00	(0.42)	0.00	1.45	(3.31)	7.58
GTM	1.76	(0.28)	0.00	(0.14)	0.00	3.87	(4.63)	10.86
DAY	0.11	0.01	(0.72)	0.18	(0.14)	0.29	(0.14)	0.67
PCOR	1.56	(0.16)	0.00	(0.08)	0.00	3.15	(3.71)	14.37
APPF	1.46	(0.16)	0.00	(0.05)	0.00	3.16	(3.72)	12.22
ESTC	1.97	(0.25)	0.00	(0.21)	0.00	3.42	(3.82)	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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