Procore Technologies Correlations

PCOR Stock

USD 48.86 3.48 6.65%

The current 90-days correlation between Procore Technologies and Dayforce is 0.11 (i.e., Average 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

Excellent diversification

The correlation between Procore Technologies and DJI is -0.58 (i.e., Excellent 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 metropolitan statistical area.

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

Moving together with Procore Stock

0.94	U	Unity Software	Pair Corr
0.61	BGE	Bridge Saas	Pair Corr
0.67	9NY	BYTES TECHGRP LS	Pair Corr
0.94	BL	Blackline Sell-off Trend	Pair Corr
0.93	DT	Dynatrace Holdings LLC	Pair Corr
0.8	DV	DoubleVerify Holdings Earnings Call This Week	Pair Corr
0.93	35U	PAR TECHNOLOGY DL Earnings Call Tomorrow	Pair Corr
0.9	MQ	Marqeta Earnings Call This Week	Pair Corr
0.9	PD	Pagerduty	Pair Corr
0.61	QH	Quhuo	Pair Corr
0.79	VS	Versus Systems	Pair Corr
0.94	WK	Workiva	Pair Corr
0.84	DMRC	Digimarc Earnings Call This Week	Pair Corr
0.89	RM	RM Plc	Pair Corr
0.89	2TY	PagerDuty	Pair Corr
0.97	DOCU	DocuSign	Pair Corr
0.83	DOMO	Domo Inc Buyout Trend	Pair Corr
0.85	1Q5	Dropbox	Pair Corr
0.9	VERI	Veritone	Pair Corr
0.89	VERX	Vertex Buyout Trend	Pair Corr
0.94	6NCA	NCINO INC DL	Pair Corr
0.94	DSGX	Descartes Systems	Pair Corr
0.91	LY0	Lyft Inc	Pair Corr
0.68	DTCX	Datacentrex Symbol Change	Pair Corr
0.78	0M5	Bill Holdings	Pair Corr

Moving against Procore Stock

0.88	60Z	UNIFIEDPOST GRP SANV Earnings Call Tomorrow	Pair Corr
0.82	RNI	OXFORD METRICS LS	Pair Corr
0.76	DSG	Dillistone Group PLC	Pair Corr
0.73	JG	Aurora Mobile	Pair Corr
0.53	TRB	Tribal Group plc	Pair Corr
0.5	ZM	Zoom Video Communications Earnings Call Today	Pair Corr
0.41	XV7	SERESCO 16	Pair Corr
0.4	LUS1	Lang Schwarz Aktieng	Pair Corr
0.7	89P	CLAVISTER HOLDING	Pair Corr
0.68	MKQ	Mitek Systems	Pair Corr

Related Correlations Analysis

	DAY	GTM	QXO	MANH	PEGA	PAYC	IDCC	ESTC	MNDY	DUOL
DAY		-0.48	0.74	-0.54	-0.43	-0.61	-0.14	-0.46	-0.56	-0.55	DAY
GTM	-0.48		-0.47	0.95	0.92	0.95	-0.47	0.86	0.95	0.94	GTM
QXO	0.74	-0.47		-0.5	-0.39	-0.62	0.02	-0.49	-0.62	-0.59	QXO
MANH	-0.54	0.95	-0.5		0.88	0.95	-0.38	0.86	0.92	0.9	MANH
PEGA	-0.43	0.92	-0.39	0.88		0.9	-0.34	0.83	0.88	0.92	PEGA
PAYC	-0.61	0.95	-0.62	0.95	0.9		-0.33	0.86	0.97	0.95	PAYC
IDCC	-0.14	-0.47	0.02	-0.38	-0.34	-0.33		-0.45	-0.39	-0.26	IDCC
ESTC	-0.46	0.86	-0.49	0.86	0.83	0.86	-0.45		0.87	0.84	ESTC
MNDY	-0.56	0.95	-0.62	0.92	0.88	0.97	-0.39	0.87		0.96	MNDY
DUOL	-0.55	0.94	-0.59	0.9	0.92	0.95	-0.26	0.84	0.96		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

MNDY	+ 0.97	PAYC
DUOL	+ 0.96	MNDY
MANH	+ 0.95	GTM
PAYC	+ 0.95	GTM
MNDY	+ 0.95	GTM
PAYC	+ 0.95	MANH

High negative correlations

MNDY	- 0.62	QXO
PAYC	- 0.62	QXO
PAYC	- 0.61	DAY
DUOL	- 0.59	QXO
MNDY	- 0.56	DAY
DUOL	- 0.55	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	0.15	0.03	(0.43)	(0.24)	0.00	(0.19)	0.29	(0.25)	0.93
GTM	2.20	(0.80)	0.00	(0.34)	0.00	0.00	4.11	(6.51)	17.95
QXO	2.94	0.43	0.21	0.23	2.62	(3.91)	5.47	(4.21)	27.19
MANH	1.78	(0.51)	0.00	(0.22)	0.00	0.00	2.52	(4.64)	14.73
PEGA	2.61	(0.38)	0.00	(0.27)	0.00	0.00	5.03	(7.45)	17.31
PAYC	1.67	(0.48)	0.00	(0.87)	0.00	0.00	3.22	(4.37)	9.96
IDCC	2.06	0.11	0.02	0.31	2.46	(2.35)	5.50	(3.96)	16.69
ESTC	2.56	(0.77)	0.00	(0.41)	0.00	0.00	3.82	(7.71)	14.67
MNDY	2.69	(1.13)	0.00	(0.66)	0.00	0.00	3.58	(8.39)	24.99
DUOL	2.45	(0.75)	0.00	(8.86)	0.00	0.00	4.69	(6.02)	16.65

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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