Procore Technologies Correlations

PCOR Stock

USD 51.30 5.30 9.36%

The current 90-days correlation between Procore Technologies and Dayforce is 0.31 (i.e., Weak diversification). The correlation of Procore Technologies 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.

Procore Technologies Correlation With Market

Very good diversification

The correlation between Procore Technologies and DJI is -0.39 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Procore Technologies and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Procore Stock

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Procore Technologies. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

To learn how to invest in Procore Stock, please use our How to Invest in Procore Technologies guide.

Moving together with Procore Stock

0.69	DT	Dynatrace Holdings LLC Earnings Call Tomorrow	Pair Corr
0.87	DOCU	DocuSign	Pair Corr
0.76	OTEX	Open Text Corp Earnings Call This Week	Pair Corr
0.64	CRM	Salesforce	Pair Corr
0.74	GEN	Gen Digital Earnings Call This Week	Pair Corr
0.72	MRT	Marti Technologies	Pair Corr
0.77	SAP	SAP SE ADR	Pair Corr
0.64	WCT	Wellchange Holdings	Pair Corr
0.91	KXS	Kinaxis	Pair Corr
0.68	DSG	Descartes Systems	Pair Corr
0.76	TOI	Topicus	Pair Corr
0.63	PERF	Perfect Corp	Pair Corr

Moving against Procore Stock

0.68	LTCH	Latch Inc	Pair Corr
0.62	ONTF	ON24 Inc	Pair Corr
0.58	API	Agora Inc	Pair Corr
0.57	JG	Aurora Mobile	Pair Corr
0.36	MITK	Mitek Systems	Pair Corr
0.32	MGIC	Magic Software Enter	Pair Corr
0.76	ASML	ASML Holding NV	Pair Corr
0.71	MNMD	Mind Medicine Symbol Change	Pair Corr
0.69	NHYDY	Norsk Hydro ASA	Pair Corr
0.57	LOVFF	Cannara Biotech	Pair Corr
0.53	BWA	BorgWarner Earnings Call This Week	Pair Corr
0.52	AXIN	Axiom Intelligence	Pair Corr
0.41	ATGVF	Active Energy Group	Pair Corr
0.39	TCX	Tucows Inc	Pair Corr

Related Correlations Analysis

	DAY	GTM	QXO	MANH	PEGA	PAYC	IDCC	ESTC	MNDY	DUOL
DAY		-0.43	0.77	-0.33	-0.29	-0.63	-0.79	-0.64	-0.75	-0.69	DAY
GTM	-0.43		-0.34	0.78	0.87	0.85	0.48	0.57	0.85	0.82	GTM
QXO	0.77	-0.34		-0.32	-0.23	-0.57	-0.67	-0.61	-0.62	-0.54	QXO
MANH	-0.33	0.78	-0.32		0.74	0.81	0.42	0.42	0.7	0.67	MANH
PEGA	-0.29	0.87	-0.23	0.74		0.78	0.37	0.47	0.74	0.73	PEGA
PAYC	-0.63	0.85	-0.57	0.81	0.78		0.68	0.63	0.92	0.94	PAYC
IDCC	-0.79	0.48	-0.67	0.42	0.37	0.68		0.48	0.78	0.76	IDCC
ESTC	-0.64	0.57	-0.61	0.42	0.47	0.63	0.48		0.7	0.57	ESTC
MNDY	-0.75	0.85	-0.62	0.7	0.74	0.92	0.78	0.7		0.95	MNDY
DUOL	-0.69	0.82	-0.54	0.67	0.73	0.94	0.76	0.57	0.95		DUOL
	DAY	GTM	QXO	MANH	PEGA	PAYC	IDCC	ESTC	MNDY	DUOL

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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

DUOL	+ 0.95	MNDY
DUOL	+ 0.94	PAYC
MNDY	+ 0.92	PAYC
PEGA	+ 0.87	GTM
PAYC	+ 0.85	GTM
MNDY	+ 0.85	GTM

High negative correlations

IDCC	- 0.79	DAY
MNDY	- 0.75	DAY
DUOL	- 0.69	DAY
IDCC	- 0.67	QXO
ESTC	- 0.64	DAY
PAYC	- 0.63	DAY

Risk-Adjusted Indicators

There is a big difference between Procore Stock performing well and Procore Technologies 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 Procore Technologies' 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
DAY	0.12	0.00	(0.28)	0.02	0.09	(0.15)	0.29	(0.25)	0.71
GTM	1.91	(0.58)	0.00	(0.46)	0.00	0.00	4.11	(5.51)	16.16
QXO	2.69	0.22	0.12	0.12	2.46	(3.64)	5.47	(3.95)	22.99
MANH	1.36	(0.34)	0.00	(0.43)	0.00	0.00	2.51	(4.10)	8.34
PEGA	1.95	(0.63)	0.00	(0.71)	0.00	0.00	4.17	(5.59)	15.04
PAYC	1.52	(0.63)	0.00	(0.58)	0.00	0.00	2.32	(3.80)	11.72
IDCC	1.91	(0.16)	0.00	(0.75)	0.00	0.00	3.53	(4.57)	17.55
ESTC	2.11	(0.41)	0.00	(6.94)	0.00	0.00	3.82	(3.82)	18.64
MNDY	2.26	(0.85)	0.00	(2.54)	0.00	0.00	3.19	(6.35)	17.07
DUOL	2.66	(1.19)	0.00	(0.74)	0.00	0.00	4.69	(5.75)	28.47

Procore Technologies Corporate Management

Sandra Benson	Head Transformation	Profile
Kevin Oconnor	Non-Executive Independent Director	Profile
Alexandra Geller	Head Relations	Profile
William Griffith	Non-Executive Independent Director	Profile
Linden Hillenbrand	Chief Officer	Profile
Joy Durling	Chief Officer	Profile
Lawrence Stack	Chief Officer	Profile

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