Phunware Correlations

PHUN Stock

USD 1.71 0.04 2.40%

The current 90-days correlation between Phunware and Lam Research Corp is 0.25 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Phunware moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Phunware moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Phunware Correlation With Market

Very good diversification

The correlation between Phunware and DJI is -0.41 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Phunware and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Phunware Stock

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

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

Moving together with Phunware Stock

0.71	U	Unity Software	Pair Corr
0.72	BL	Blackline Sell-off Trend	Pair Corr
0.77	DT	Dynatrace Holdings LLC	Pair Corr
0.67	MQ	Marqeta Earnings Call This Week	Pair Corr
0.67	VS	Versus Systems	Pair Corr
0.73	WK	Workiva	Pair Corr
0.78	DMRC	Digimarc Earnings Call This Week	Pair Corr
0.74	DOCU	DocuSign	Pair Corr
0.73	DOMO	Domo Inc Buyout Trend	Pair Corr
0.75	1Q5	Dropbox	Pair Corr
0.72	VERI	Veritone	Pair Corr
0.62	6NCA	NCINO INC DL	Pair Corr
0.67	DSGX	Descartes Systems	Pair Corr
0.72	LY0	Lyft Inc	Pair Corr
0.68	DTCX	Datacentrex Symbol Change	Pair Corr
0.63	0M5	Bill Holdings	Pair Corr

Moving against Phunware Stock

0.72	RNI	OXFORD METRICS LS	Pair Corr
0.59	TRB	Tribal Group plc	Pair Corr
0.51	60Z	UNIFIEDPOST GRP SANV Earnings Call Tomorrow	Pair Corr
0.5	DSG	Dillistone Group PLC	Pair Corr
0.43	JG	Aurora Mobile	Pair Corr
0.35	XV7	SERESCO 16	Pair Corr
0.33	LUS1	Lang Schwarz Aktieng	Pair Corr
0.58	89P	CLAVISTER HOLDING	Pair Corr
0.51	MKQ	Mitek Systems	Pair Corr

Related Correlations Analysis

	SHOP	UBER	APP	INTU	MU	NOW	IBM	CSCO	LRCX
SHOP		0.73	0.95	0.92	-0.7	0.84	0.68	-0.5	-0.65	SHOP
UBER	0.73		0.7	0.8	-0.66	0.82	0.71	-0.46	-0.64	UBER
APP	0.95	0.7		0.9	-0.68	0.83	0.72	-0.34	-0.64	APP
INTU	0.92	0.8	0.9		-0.83	0.95	0.74	-0.45	-0.82	INTU
MU	-0.7	-0.66	-0.68	-0.83		-0.91	-0.51	0.28	0.98	MU
NOW	0.84	0.82	0.83	0.95	-0.91		0.64	-0.42	-0.9	NOW
IBM	0.68	0.71	0.72	0.74	-0.51	0.64		-0.11	-0.5	IBM
CSCO	-0.5	-0.46	-0.34	-0.45	0.28	-0.42	-0.11		0.25	CSCO
LRCX	-0.65	-0.64	-0.64	-0.82	0.98	-0.9	-0.5	0.25		LRCX
	SHOP	UBER	APP	INTU	MU	NOW	IBM	CSCO	LRCX

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

LRCX	+ 0.98	MU
APP	+ 0.95	SHOP
NOW	+ 0.95	INTU
INTU	+ 0.92	SHOP
INTU	+ 0.9	APP
NOW	+ 0.84	SHOP

High negative correlations

NOW	- 0.91	MU
LRCX	- 0.9	NOW
MU	- 0.83	INTU
LRCX	- 0.82	INTU
MU	- 0.7	SHOP
MU	- 0.68	APP

Risk-Adjusted Indicators

There is a big difference between Phunware Stock performing well and Phunware 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 Phunware'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
SHOP	2.66	(0.40)	0.00	(0.12)	0.00	0.00	5.67	(7.07)	15.50
UBER	1.61	(0.41)	0.00	(0.51)	0.00	0.00	2.46	(4.25)	11.09
APP	3.92	(0.47)	0.00	(0.14)	0.00	0.00	7.44	(9.09)	32.87
INTU	1.99	(0.98)	0.00	(0.69)	0.00	0.00	2.74	(5.52)	15.22
MU	3.48	0.87	0.25	0.67	3.08	(4.20)	9.94	(4.80)	20.06
NOW	2.17	(0.73)	0.00	(1.08)	0.00	0.00	2.69	(6.97)	13.48
IBM	1.74	(0.49)	0.00	(0.17)	0.00	0.00	2.62	(4.87)	18.28
CSCO	1.24	(0.06)	(0.02)	0.03	2.52	(1.21)	2.96	(2.35)	15.57
LRCX	2.58	0.69	0.24	0.45	2.73	(2.94)	7.00	(5.07)	17.49

Phunware Corporate Management

Christopher Olive	General VP	Profile
Mike Snavely	Ex Marketing	Profile
Alan Knitowski	President, CoFounder	Profile
Troy Reisner	Chief Officer	Profile
Jeremy Kidd	Senior Marketing	Profile

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