Snowflake Correlations
| S2NW34 Stock | BRL 22.08 0.10 0.45% |
The current 90-days correlation between Snowflake and Broadridge Financial Solutions is 0.09 (i.e., Significant diversification). The correlation of Snowflake 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.
Snowflake Correlation With Market
Pay attention - limited upside
The correlation between Snowflake and DJI is -0.76 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Snowflake and DJI in the same portfolio, assuming nothing else is changed.
Snowflake |
The ability to find closely correlated positions to Snowflake could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Snowflake when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Snowflake - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Snowflake to buy it.
Moving together with Snowflake Stock
| 0.92 | N1OW34 | ServiceNow Split | PairCorr |
| 0.9 | U1BE34 | Uber Technologies | PairCorr |
| 0.83 | S2HO34 | Shopify | PairCorr |
| 0.9 | D1DG34 | Datadog | PairCorr |
| 0.92 | A1UT34 | Autodesk | PairCorr |
| 0.89 | T1AM34 | Atlassian Plc | PairCorr |
| 0.92 | T2TD34 | Trade Desk | PairCorr |
| 0.69 | S1SN34 | SSC Technologies Holdings | PairCorr |
| 0.92 | SNEC34 | Sony Group | PairCorr |
| 0.76 | H1DB34 | HDFC Bank Limited | PairCorr |
| 0.84 | JDCO34 | JD Inc Earnings Call Tomorrow | PairCorr |
Moving against Snowflake Stock
| 0.86 | TSMC34 | Taiwan Semiconductor | PairCorr |
| 0.85 | S1MF34 | Sumitomo Mitsui Financial | PairCorr |
| 0.82 | M1UF34 | Mitsubishi UFJ Financial | PairCorr |
| 0.79 | TMCO34 | Toyota Motor | PairCorr |
| 0.77 | B1SA34 | Banco Santander Chile | PairCorr |
| 0.56 | NMRH34 | Nomura Holdings | PairCorr |
| 0.89 | C1FG34 | Citizens Financial | PairCorr |
| 0.87 | KLBN3 | Klabin SA Split | PairCorr |
| 0.84 | FESA4F | FESA4F | PairCorr |
| 0.82 | BBAS3 | Banco do Brasil | PairCorr |
| 0.8 | BBDC3 | Banco Bradesco SA | PairCorr |
| 0.77 | CMIG4 | Companhia Energtica | PairCorr |
| 0.75 | E1CO34 | Ecopetrol SA | PairCorr |
| 0.74 | LUPA3 | Lupatech SA | PairCorr |
| 0.71 | SMTO3F | SMTO3F | PairCorr |
| 0.67 | JOPA3 | JOSAPAR Joaquim Oliveira | PairCorr |
| 0.39 | RAPT3 | Randon SA Implementos | PairCorr |
| 0.37 | KEPL3 | Kepler Weber SA | PairCorr |
| 0.37 | KEPL3F | KEPL3F | PairCorr |
| 0.34 | WUNI34 | Western Union | PairCorr |
| 0.33 | BILB34 | Banco Bilbao Vizcaya | PairCorr |
| 0.94 | CATP34 | Caterpillar | PairCorr |
| 0.9 | ABCB4 | Banco ABC Brasil | PairCorr |
| 0.88 | BRSR6 | Banco do Estado | PairCorr |
| 0.88 | EUCA4 | Eucatex SA Indstria | PairCorr |
Related Correlations Analysis
| -0.33 | 0.68 | -0.44 | 0.3 | 0.8 | P2AX34 | ||
| -0.33 | -0.86 | 0.89 | -0.77 | -0.7 | J1BH34 | ||
| 0.68 | -0.86 | -0.87 | 0.81 | 0.9 | TRAD3 | ||
| -0.44 | 0.89 | -0.87 | -0.67 | -0.76 | TSMC34 | ||
| 0.3 | -0.77 | 0.81 | -0.67 | 0.65 | AVGO34 | ||
| 0.8 | -0.7 | 0.9 | -0.76 | 0.65 | B1RF34 | ||
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Snowflake Stock performing well and Snowflake 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 Snowflake'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| P2AX34 | 1.26 | (0.23) | 0.00 | (0.87) | 0.00 | 2.93 | 15.94 | |||
| J1BH34 | 0.73 | 0.33 | 0.00 | 2.06 | 0.00 | 0.25 | 13.38 | |||
| TRAD3 | 1.58 | (0.94) | 0.00 | (1.91) | 0.00 | 3.09 | 15.28 | |||
| TSMC34 | 1.71 | 0.35 | 0.17 | 0.72 | 1.53 | 4.09 | 10.38 | |||
| AVGO34 | 2.19 | (0.15) | 0.00 | (0.48) | 0.00 | 3.58 | 22.74 | |||
| B1RF34 | 1.25 | (0.45) | 0.00 | (0.31) | 0.00 | 2.13 | 15.97 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Snowflake without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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ETF CategoriesList of ETF categories grouped based on various criteria, such as the investment strategy or type of investments |
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Snowflake Corporate Management
Elected by the shareholders, the Snowflake's board of directors comprises two types of representatives: Snowflake inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Snowflake. The board's role is to monitor Snowflake's management team and ensure that shareholders' interests are well served. Snowflake's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Snowflake's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Michael Scarpelli | Chief Officer | Profile | |
| Marcin Zukowski | CoFounder Engineering | Profile | |
| Thierry Cruanes | CoFounder CTO | Profile | |
| Sundeep Bedi | Chief Officer | Profile | |
| Derk Lupinek | Sec Counsel | Profile | |
| Benoit Dageville | Pres CoFounder | Profile | |
| Christopher Degnan | Chief Officer | Profile |