Remitly Global Correlations

RELY Stock

USD 23.50 0.23 0.97%

The current 90-days correlation between Remitly Global and ACI Worldwide is 0.15 (i.e., Average diversification). The correlation of Remitly Global 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.

Remitly Global Correlation With Market

Modest diversification

The correlation between Remitly Global and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Remitly Global 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 Remitly Global. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

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

Moving together with Remitly Stock

0.81	BB	BlackBerry Aggressive Push	Pair Corr
0.77	GB	Global Blue Group	Pair Corr
0.64	VRAR	Glimpse Group	Pair Corr
0.85	VRSN	VeriSign Earnings Call This Week	Pair Corr
0.65	EXOD	Exodus Movement,	Pair Corr
0.83	CETXP	Cemtrex Pref	Pair Corr
0.71	FIVN	Five9 Inc	Pair Corr
0.89	DBX	Dropbox	Pair Corr
0.81	DLO	Dlocal Tech Boost	Pair Corr
0.77	FTNT	Fortinet Earnings Call This Week	Pair Corr
0.82	NET	Cloudflare Earnings Call This Week	Pair Corr
0.63	LIDRW	AEye Inc	Pair Corr
0.8	SWI	SolarWinds Corp Earnings Call This Week	Pair Corr

Moving against Remitly Stock

0.91	VRNS	Varonis Systems Earnings Call This Week	Pair Corr
0.8	VHAI	VHAI	Pair Corr
0.76	MQ	Marqeta	Pair Corr
0.63	S	SentinelOne	Pair Corr
0.62	FAASW	DigiAsia Corp Symbol Change	Pair Corr
0.58	DTSS	Datasea	Pair Corr
0.47	FAAS	DigiAsia Corp Symbol Change	Pair Corr
0.4	DOCN	DigitalOcean Holdings	Pair Corr
0.32	VERI	Veritone	Pair Corr
0.69	TCX	Tucows Inc	Pair Corr
0.6	PGY	Pagaya Technologies	Pair Corr
0.56	APCXW	AppTech Payments Corp	Pair Corr
0.45	YEXT	Yext Inc	Pair Corr
0.44	DOX	Amdocs Earnings Call This Week	Pair Corr
0.42	TLS	Telos Corp	Pair Corr
0.36	RXT	Rackspace Technology Buyout Trend	Pair Corr
0.34	RPD	Rapid7 Inc Earnings Call This Week	Pair Corr
0.32	MDB	MongoDB	Pair Corr

Related Correlations Analysis

	ACIW	ESMT	EVCM	GB	CSGS	SCWX	EVTC	VRNT	IIIV	CCCS
ACIW		-0.14	0.65	-0.28	0.78	-0.06	0.72	0.21	0.53	0.66	ACIW
ESMT	-0.14		-0.23	0.69	0.13	0.77	-0.27	0.5	-0.25	0.16	ESMT
EVCM	0.65	-0.23		-0.62	0.31	-0.1	0.9	0.4	0.03	0.79	EVCM
GB	-0.28	0.69	-0.62		0.04	0.59	-0.48	0.22	-0.06	-0.24	GB
CSGS	0.78	0.13	0.31	0.04		0.33	0.39	0.33	0.62	0.49	CSGS
SCWX	-0.06	0.77	-0.1	0.59	0.33		-0.15	0.69	-0.09	0.23	SCWX
EVTC	0.72	-0.27	0.9	-0.48	0.39	-0.15		0.36	0.11	0.81	EVTC
VRNT	0.21	0.5	0.4	0.22	0.33	0.69	0.36		-0.23	0.58	VRNT
IIIV	0.53	-0.25	0.03	-0.06	0.62	-0.09	0.11	-0.23		-0.01	IIIV
CCCS	0.66	0.16	0.79	-0.24	0.49	0.23	0.81	0.58	-0.01		CCCS
	ACIW	ESMT	EVCM	GB	CSGS	SCWX	EVTC	VRNT	IIIV	CCCS

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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

EVTC	+ 0.9	EVCM
CCCS	+ 0.81	EVTC
CCCS	+ 0.79	EVCM
CSGS	+ 0.78	ACIW
SCWX	+ 0.77	ESMT
EVTC	+ 0.72	ACIW

High negative correlations

GB	- 0.62	EVCM
EVTC	- 0.48	GB
GB	- 0.28	ACIW
EVTC	- 0.27	ESMT
IIIV	- 0.25	ESMT
CCCS	- 0.24	GB

Risk-Adjusted Indicators

There is a big difference between Remitly Stock performing well and Remitly Global 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 Remitly Global'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
ACIW	1.65	0.10	0.05	0.18	1.78	(1.76)	4.57	(3.07)	12.56
ESMT	1.57	0.08	0.02	0.24	1.90	(1.59)	3.90	(2.93)	9.34
EVCM	1.54	(0.06)	0.00	(0.06)	0.00	0.00	3.22	(3.32)	13.03
GB	2.25	0.39	0.11	11.36	2.69	(2.45)	4.77	(4.49)	22.78
CSGS	1.20	0.30	0.21	0.47	0.99	(1.43)	2.66	(1.49)	13.96
SCWX	0.13	0.02	(0.29)	(1.39)	0.00	(0.20)	0.36	(0.24)	1.07
EVTC	1.15	(0.03)	(0.04)	(0.01)	1.70	(1.09)	2.77	(2.30)	10.78
VRNT	2.14	0.28	0.09	(15.15)	2.16	(2.41)	3.89	(4.11)	27.29
IIIV	1.48	0.10	0.04	0.25	1.80	(1.62)	3.97	(3.03)	11.13
CCCS	1.10	(0.02)	(0.04)	0.03	1.31	(1.24)	2.21	(2.48)	6.90

Remitly Global Corporate Management

Stephen Shulstein	Vice Relations	Profile
Ankur Sinha	Chief Officer	Profile
Robert Kaskel	Chief Officer	Profile
Vanessa Bicomong	Marketing Region	Profile
Rene Yoakum	Executive Culture	Profile
Rina Hahn	Chief Officer	Profile

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