Pegasystems Correlations

PEGA Stock

USD 45.18 2.10 4.87%

The current 90-days correlation between Pegasystems and Manhattan Associates is 0.56 (i.e., Very weak diversification). The correlation of Pegasystems 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.

Pegasystems Correlation With Market

Very good diversification

The correlation between Pegasystems and DJI is -0.48 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pegasystems and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Pegasystems Stock

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

For information on how to trade Pegasystems Stock refer to our How to Trade Pegasystems Stock guide.

Moving together with Pegasystems Stock

0.89	U	Unity Software Aggressive Push	Pair Corr
0.72	BGE	Bridge Saas	Pair Corr
0.66	9NY	BYTES TECHGRP LS	Pair Corr
0.87	BL	Blackline	Pair Corr
0.91	DT	Dynatrace Holdings LLC	Pair Corr
0.84	DV	DoubleVerify Holdings Earnings Call This Week	Pair Corr
0.9	35U	PAR TECHNOLOGY DL Earnings Call Today	Pair Corr
0.93	MQ	Marqeta Earnings Call This Week	Pair Corr
0.84	PD	Pagerduty	Pair Corr
0.7	QH	Quhuo	Pair Corr
0.62	VS	Versus Systems	Pair Corr
0.83	WK	Workiva	Pair Corr
0.79	DMRC	Digimarc Earnings Call This Week	Pair Corr
0.9	RM	RM Plc	Pair Corr
0.82	2TY	PagerDuty	Pair Corr
0.93	DOCU	DocuSign	Pair Corr
0.73	DOMO	Domo Inc Earnings Call This Week	Pair Corr
0.76	1Q5	Dropbox	Pair Corr
0.9	VERI	Veritone	Pair Corr
0.81	VERX	Vertex Buyout Trend	Pair Corr
0.88	6NCA	NCINO INC DL	Pair Corr
0.9	DSGX	Descartes Systems	Pair Corr
0.81	LY0	Lyft Inc	Pair Corr
0.63	DTCX	Datacentrex Symbol Change	Pair Corr
0.88	0M5	Bill Holdings	Pair Corr

Moving against Pegasystems Stock

0.87	60Z	UNIFIEDPOST GRP SANV Earnings Call Today	Pair Corr
0.74	RNI	OXFORD METRICS LS	Pair Corr
0.71	JG	Aurora Mobile	Pair Corr
0.67	DSG	Dillistone Group PLC	Pair Corr
0.41	LUS1	Lang Schwarz Aktieng	Pair Corr
0.4	TRB	Tribal Group plc	Pair Corr
0.37	ZM	Zoom Video Communications	Pair Corr
0.36	XV7	SERESCO 16	Pair Corr
0.72	89P	CLAVISTER HOLDING	Pair Corr
0.51	MKQ	Mitek Systems	Pair Corr

Related Correlations Analysis

	MANH	GTM	PAYC	IDCC	OTEX	APPF	AKAM	DAY	QXO	MNDY
MANH		0.95	0.95	-0.42	0.94	0.96	-0.69	-0.54	-0.5	0.93	MANH
GTM	0.95		0.96	-0.5	0.95	0.97	-0.77	-0.49	-0.49	0.96	GTM
PAYC	0.95	0.96		-0.36	0.97	0.96	-0.78	-0.6	-0.63	0.97	PAYC
IDCC	-0.42	-0.5	-0.36		-0.33	-0.44	0.33	-0.07	0.03	-0.43	IDCC
OTEX	0.94	0.95	0.97	-0.33		0.95	-0.77	-0.62	-0.58	0.93	OTEX
APPF	0.96	0.97	0.96	-0.44	0.95		-0.75	-0.53	-0.57	0.96	APPF
AKAM	-0.69	-0.77	-0.78	0.33	-0.77	-0.75		0.55	0.63	-0.8	AKAM
DAY	-0.54	-0.49	-0.6	-0.07	-0.62	-0.53	0.55		0.74	-0.55	DAY
QXO	-0.5	-0.49	-0.63	0.03	-0.58	-0.57	0.63	0.74		-0.62	QXO
MNDY	0.93	0.96	0.97	-0.43	0.93	0.96	-0.8	-0.55	-0.62		MNDY
	MANH	GTM	PAYC	IDCC	OTEX	APPF	AKAM	DAY	QXO	MNDY

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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

APPF	+ 0.97	GTM
OTEX	+ 0.97	PAYC
MNDY	+ 0.97	PAYC
APPF	+ 0.96	MANH
PAYC	+ 0.96	GTM
MNDY	+ 0.96	GTM

High negative correlations

MNDY	- 0.8	AKAM
AKAM	- 0.78	PAYC
AKAM	- 0.77	OTEX
AKAM	- 0.77	GTM
AKAM	- 0.75	APPF
AKAM	- 0.69	MANH

Risk-Adjusted Indicators

There is a big difference between Pegasystems Stock performing well and Pegasystems 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 Pegasystems' 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
MANH	1.80	(0.50)	0.00	(0.20)	0.00	0.00	2.52	(4.64)	14.73
GTM	2.23	(0.77)	0.00	(0.31)	0.00	0.00	4.11	(6.51)	17.95
PAYC	1.72	(0.43)	0.00	(0.67)	0.00	0.00	3.83	(4.37)	9.96
IDCC	2.14	0.16	0.04	0.39	2.45	(2.49)	5.50	(3.96)	16.69
OTEX	1.66	(0.60)	0.00	(0.26)	0.00	0.00	2.44	(4.20)	16.91
APPF	1.79	(0.56)	0.00	(0.28)	0.00	0.00	3.09	(5.17)	11.62
AKAM	2.08	0.24	0.05	1.28	3.00	(2.27)	4.66	(3.59)	24.42
DAY	0.15	0.02	(0.48)	1.66	0.00	(0.19)	0.29	(0.25)	0.93
QXO	2.96	0.39	0.20	0.23	2.66	(3.91)	5.47	(4.21)	27.19
MNDY	2.66	(1.12)	0.00	(0.65)	0.00	0.00	3.58	(8.39)	24.99

Pegasystems Corporate Management

Leon Trefler	Sr. VP of Global Customer Success	Profile
Efstathios Kouninis	Chief Accounting Officer and VP of Fin.	Profile
Peter Welburn	Vice Relations	Profile
Katherine Parente	Chief Officer	Profile
Matthew JD	Chief VP	Profile
Benjamin Ostapuk	Chief Secretary	Profile
Kerim Akgonul	Chief Officer	Profile

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