Progress Software Correlations

PRGS Stock

USD 42.83 0.17 0.40%

The current 90-days correlation between Progress Software and DoubleVerify Holdings is -0.01 (i.e., Good diversification). The correlation of Progress Software 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.

Progress Software Correlation With Market

Average diversification

The correlation between Progress Software and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Progress Software and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Progress Stock

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Progress Software. 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 more information on how to buy Progress Stock please use our How to Invest in Progress Software guide.

Moving together with Progress Stock

0.7	AI	C3 Ai Inc	Pair Corr
0.73	GETB	GetBusy PLC	Pair Corr

Moving against Progress Stock

0.67	600756	Inspur Software	Pair Corr
0.62	OS	OneStream, Class A	Pair Corr
0.4	300311	Surfilter Network	Pair Corr
0.36	FROG	Jfrog	Pair Corr
0.34	TDC	Teradata Corp	Pair Corr
0.31	300379	Beijing Tongtech	Pair Corr
0.65	300365	Beijing Forever Tech	Pair Corr
0.58	APPN	Appian Corp	Pair Corr
0.55	300369	Nsfocus Information	Pair Corr
0.41	QLYS	Qualys Inc	Pair Corr
0.32	300352	Beijing VRV Software	Pair Corr

Related Correlations Analysis

	DV	PLUS	CXM	IE	PRCH	JAMF	EVTC	ADEA	LSPD	NTCT
DV		-0.61	0.7	0.14	0.69	-0.53	0.65	0.7	0.14	-0.24	DV
PLUS	-0.61		-0.23	0.05	-0.94	0.8	-0.62	-0.78	0.03	0.44	PLUS
CXM	0.7	-0.23		0.37	0.34	-0.23	0.36	0.44	0.36	0.21	CXM
IE	0.14	0.05	0.37		-0.11	-0.12	-0.24	0.2	0.05	0.2	IE
PRCH	0.69	-0.94	0.34	-0.11		-0.82	0.72	0.81	0.01	-0.47	PRCH
JAMF	-0.53	0.8	-0.23	-0.12	-0.82		-0.72	-0.75	0.12	0.61	JAMF
EVTC	0.65	-0.62	0.36	-0.24	0.72	-0.72		0.62	-0.15	-0.6	EVTC
ADEA	0.7	-0.78	0.44	0.2	0.81	-0.75	0.62		0.25	-0.24	ADEA
LSPD	0.14	0.03	0.36	0.05	0.01	0.12	-0.15	0.25		0.7	LSPD
NTCT	-0.24	0.44	0.21	0.2	-0.47	0.61	-0.6	-0.24	0.7		NTCT
	DV	PLUS	CXM	IE	PRCH	JAMF	EVTC	ADEA	LSPD	NTCT

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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

ADEA	+ 0.81	PRCH
JAMF	+ 0.8	PLUS
EVTC	+ 0.72	PRCH
CXM	+ 0.7	DV
ADEA	+ 0.7	DV
NTCT	+ 0.7	LSPD

High negative correlations

PRCH	- 0.94	PLUS
JAMF	- 0.82	PRCH
ADEA	- 0.78	PLUS
ADEA	- 0.75	JAMF
EVTC	- 0.72	JAMF
EVTC	- 0.62	PLUS

Risk-Adjusted Indicators

There is a big difference between Progress Stock performing well and Progress Software 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 Progress Software'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
DV	1.66	(0.12)	0.00	(0.06)	0.00	0.00	3.14	(3.40)	17.80
PLUS	1.54	0.23	0.17	0.22	1.38	(1.87)	3.32	(2.65)	19.34
CXM	1.06	(0.09)	0.00	(0.03)	0.00	0.00	2.60	(2.67)	8.12
IE	4.31	0.66	0.18	0.27	4.29	(4.70)	10.42	(6.25)	22.90
PRCH	2.68	(1.10)	0.00	(0.38)	0.00	0.00	4.27	(5.25)	42.64
JAMF	1.14	0.28	0.12	1.01	1.17	(1.36)	3.05	(2.59)	15.40
EVTC	1.47	(0.21)	0.00	(5.48)	0.00	0.00	2.63	(3.14)	9.49
ADEA	2.63	(0.02)	0.02	0.06	4.02	(2.80)	5.29	(4.94)	28.14
LSPD	2.13	(0.05)	0.00	0.04	2.67	(2.20)	3.03	(4.61)	21.17
NTCT	1.35	0.05	0.02	0.12	1.64	(1.47)	2.52	(3.06)	11.36

Progress Software Corporate Management

Amanda Arria	Chief Officer	Profile
Michael Micciche	Senior Relations	Profile
Sundar Subramanian	Executive Management	Profile
Jeremy Segal	Executive Development	Profile

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