Roadzen Correlations

RDZNW Stock

0.04 0.01 25.68%

The current 90-days correlation between Roadzen and Daily Journal Corp is 0.16 (i.e., Average diversification). The correlation of Roadzen 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.

Roadzen Correlation With Market

Average diversification

The correlation between Roadzen and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Roadzen and DJI in the same portfolio, assuming nothing else is changed.

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

For more information on how to buy Roadzen Stock please use our How to Invest in Roadzen guide.

Moving against Roadzen Stock

0.59	EB	Eventbrite Class A	Pair Corr
0.51	DTRK	DATATRAK International	Pair Corr
0.45	DV	DoubleVerify Holdings	Pair Corr
0.42	ML	MoneyLion	Pair Corr
0.41	ZM	Zoom Video Communications	Pair Corr
0.41	VMEO	Vimeo Inc	Pair Corr
0.4	DOMO	Domo Inc	Pair Corr
0.39	DJCO	Daily Journal Corp	Pair Corr
0.38	VCSA	Vacasa Inc Trending	Pair Corr
0.37	KC	Kingsoft Cloud Holdings Upward Rally	Pair Corr
0.32	WK	Workiva	Pair Corr
0.31	AI	C3 Ai Inc Earnings Call This Week	Pair Corr
0.57	EXFY	Expensify	Pair Corr
0.45	ESTC	Elastic NV Tech Boost	Pair Corr
0.41	EGHT	8x8 Common Stock	Pair Corr
0.39	WDAY	Workday Downward Rally	Pair Corr
0.39	APP	Applovin Corp	Pair Corr
0.38	CXM	Sprinklr Earnings Call This Week	Pair Corr
0.32	ANY	Sphere 3D Corp	Pair Corr

Related Correlations Analysis

	U	DJCO	AI	AZ	BL	DT	DV	EB	ML	PD
U		0.25	0.55	0.33	0.57	0.74	-0.2	-0.08	0.16	0.2	U
DJCO	0.25		0.75	0.79	0.73	0.34	0.79	0.86	0.93	0.8	DJCO
AI	0.55	0.75		0.77	0.79	0.55	0.56	0.64	0.8	0.72	AI
AZ	0.33	0.79	0.77		0.88	0.61	0.5	0.76	0.81	0.61	AZ
BL	0.57	0.73	0.79	0.88		0.76	0.37	0.55	0.75	0.64	BL
DT	0.74	0.34	0.55	0.61	0.76		-0.06	0.15	0.27	0.34	DT
DV	-0.2	0.79	0.56	0.5	0.37	-0.06		0.86	0.8	0.83	DV
EB	-0.08	0.86	0.64	0.76	0.55	0.15	0.86		0.86	0.76	EB
ML	0.16	0.93	0.8	0.81	0.75	0.27	0.8	0.86		0.77	ML
PD	0.2	0.8	0.72	0.61	0.64	0.34	0.83	0.76	0.77		PD
	U	DJCO	AI	AZ	BL	DT	DV	EB	ML	PD

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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

ML	+ 0.93	DJCO
BL	+ 0.88	AZ
EB	+ 0.86	DJCO
EB	+ 0.86	DV
ML	+ 0.86	EB
PD	+ 0.83	DV

High negative correlations

DV	- 0.2	U
EB	- 0.08	U
DV	- 0.06	DT

Risk-Adjusted Indicators

There is a big difference between Roadzen Stock performing well and Roadzen 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 Roadzen'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
U	3.25	0.31	0.11	0.27	3.30	(3.58)	8.52	(5.61)	17.78
DJCO	1.88	(0.08)	0.06	0.09	2.02	(2.13)	3.45	(3.02)	17.89
AI	2.51	0.52	0.20	0.40	2.25	(2.71)	6.94	(5.04)	28.15
AZ	5.67	2.36	0.49	1.82	3.76	(7.26)	15.58	(7.28)	44.37
BL	1.39	0.15	0.13	0.22	1.35	(1.49)	3.61	(2.19)	7.65
DT	1.06	0.06	0.03	0.18	1.32	(1.14)	2.01	(2.52)	6.98
DV	1.62	(0.08)	(0.01)	0.06	1.94	(1.82)	3.51	(4.04)	10.96
EB	2.28	0.11	0.04	0.23	2.63	(2.59)	4.74	(3.55)	14.41
ML	3.63	0.64	0.23	0.30	3.17	(4.07)	8.65	(5.05)	30.38
PD	1.74	(0.12)	0.00	0.05	2.46	(1.66)	3.71	(4.46)	9.49

Roadzen Corporate Management

Ankur Kamboj	Chief Officer	Profile
Bruce Goldberg	General Counsel	Profile
Mohit Pasricha	Senior Finance	Profile
Xavier Blanchard	Executive Officer	Profile
JeanNoel Gallardo	Chief Officer	Profile
Sanya Soni	Chief Staff	Profile

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