Model N Correlations

Summary

MODNDelisted Stock

USD 30.00 0.02 0.07%

The current 90-days correlation between Model N and Enfusion is -0.12 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Model N moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Model N moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Model N Correlation With Market

Very good diversification

The correlation between Model N and DJI is -0.22 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Model N and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with Model Stock

0.64	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.69	HD	Home Depot	Pair Corr

Moving against Model Stock

0.39	KO	Coca Cola Aggressive Push	Pair Corr
0.39	JNJ	Johnson Johnson Sell-off Trend	Pair Corr

Related Correlations Analysis

	ENFN	ONTF	PYCR	PWSC	PRGS	PLUS	ENV	AMSWA	MLNK	CCRD
ENFN		0.4	0.62	0.8	0.77	-0.2	0.33	0.72	-0.12	0.54	ENFN
ONTF	0.4		0.61	0.38	0.34	-0.03	0.5	0.21	0.27	0.34	ONTF
PYCR	0.62	0.61		0.69	0.49	-0.53	0.78	0.48	0.43	0.82	PYCR
PWSC	0.8	0.38	0.69		0.82	-0.24	0.49	0.86	-0.1	0.46	PWSC
PRGS	0.77	0.34	0.49	0.82		-0.01	0.3	0.69	-0.4	0.19	PRGS
PLUS	-0.2	-0.03	-0.53	-0.24	-0.01		-0.61	-0.04	-0.21	-0.69	PLUS
ENV	0.33	0.5	0.78	0.49	0.3	-0.61		0.23	0.27	0.6	ENV
AMSWA	0.72	0.21	0.48	0.86	0.69	-0.04	0.23		-0.11	0.26	AMSWA
MLNK	-0.12	0.27	0.43	-0.1	-0.4	-0.21	0.27	-0.11		0.56	MLNK
CCRD	0.54	0.34	0.82	0.46	0.19	-0.69	0.6	0.26	0.56		CCRD
	ENFN	ONTF	PYCR	PWSC	PRGS	PLUS	ENV	AMSWA	MLNK	CCRD

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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

AMSWA	+ 0.86	PWSC
CCRD	+ 0.82	PYCR
PRGS	+ 0.82	PWSC
PWSC	+ 0.8	ENFN
ENV	+ 0.78	PYCR
PRGS	+ 0.77	ENFN

High negative correlations

CCRD	- 0.69	PLUS
ENV	- 0.61	PLUS
PLUS	- 0.53	PYCR
MLNK	- 0.4	PRGS
PLUS	- 0.24	PWSC
MLNK	- 0.21	PLUS

Risk-Adjusted Indicators

There is a big difference between Model Stock performing well and Model N 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 Model N'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
ENFN	1.61	0.22	0.15	0.29	1.44	(1.99)	3.93	(2.77)	10.11
ONTF	1.60	(0.15)	(0.03)	0.04	1.91	(1.77)	3.22	(2.86)	11.19
PYCR	1.48	0.19	0.12	0.27	1.44	(1.57)	3.05	(2.96)	9.64
PWSC	0.08	0.02	(0.74)	5.88	0.00	(0.11)	0.18	(0.13)	0.71
PRGS	1.12	0.24	0.18	0.49	0.70	(1.37)	2.49	(1.37)	14.18
PLUS	1.71	(0.38)	0.00	(0.06)	0.00	0.00	3.53	(3.01)	25.14
ENV	0.09	0.00	(0.85)	(0.07)	0.09	(0.10)	0.22	(0.22)	0.68
AMSWA	1.44	0.31	0.11	(1.75)	1.18	(1.67)	3.79	(2.53)	10.40
MLNK	1.64	(0.07)	(0.03)	0.05	2.32	(1.57)	3.17	(3.18)	14.62
CCRD	2.07	0.56	0.23	0.81	1.86	(2.39)	5.16	(3.71)	11.29

Model N Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Model N stock to make a market-neutral strategy. Peer analysis of Model N could also be used in its relative valuation, which is a method of valuing Model N by comparing valuation metrics with similar companies.

Enfusion ON24 Inc Paycor HCM Powerschool Holdings Progress Software ePlus inc Envestnet American Software Meridianlink CoreCard Corp Momentive Global Mix Telemats Clearwater Analytics Holdings Expensify American Airlines Group

Risk & Return

Correlation

Still Interested in Model N?

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