Snowflake Correlations

S2NW34 Stock

BRL 22.18 1.43 6.89%

The current 90-days correlation between Snowflake and Ameriprise Financial is -0.29 (i.e., Very good 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 -0.75 (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.

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

0.89	N1OW34	ServiceNow Split	Pair Corr
0.85	U1BE34	Uber Technologies	Pair Corr
0.86	D1DG34	Datadog Earnings Call This Week	Pair Corr
0.79	A1UT34	Autodesk	Pair Corr
0.75	T1AM34	Atlassian Plc	Pair Corr
0.9	T2TD34	Trade Desk Earnings Call This Week	Pair Corr
0.88	SNEC34	Sony Group Earnings Call This Week	Pair Corr
0.71	H1DB34	HDFC Bank Limited	Pair Corr
0.76	JDCO34	JD Inc	Pair Corr

Moving against Snowflake Stock

0.86	M1UF34	Mitsubishi UFJ Financial Earnings Call This Week	Pair Corr
0.86	B1SA34	Banco Santander Chile	Pair Corr
0.86	BCPX39	Global X Funds Split	Pair Corr
0.84	S1MF34	Sumitomo Mitsui Financial	Pair Corr
0.84	BBSE3	BB Seguridade Partic Earnings Call This Week	Pair Corr
0.78	TMCO34	Toyota Motor	Pair Corr
0.74	TSMC34	Taiwan Semiconductor	Pair Corr
0.73	NMRH34	Nomura Holdings	Pair Corr
0.7	S1SN34	SSC Technologies Holdings	Pair Corr
0.65	LUPA3	Lupatech SA	Pair Corr
0.41	CPLE3	Companhia Paranaense	Pair Corr

Related Correlations Analysis

	CLOV34	M1LM34	A1MP34	O2NS34	SSFO34	BCPX39	S1MF34	E1DU34
CLOV34		0.27	-0.26	-0.21	0.61	-0.41	-0.4	0.13	CLOV34
M1LM34	0.27		-0.84	-0.88	-0.11	-0.78	-0.79	-0.43	M1LM34
A1MP34	-0.26	-0.84		0.87	0.03	0.83	0.86	0.67	A1MP34
O2NS34	-0.21	-0.88	0.87		-0.06	0.9	0.88	0.58	O2NS34
SSFO34	0.61	-0.11	0.03	-0.06		-0.29	-0.21	-0.05	SSFO34
BCPX39	-0.41	-0.78	0.83	0.9	-0.29		0.94	0.59	BCPX39
S1MF34	-0.4	-0.79	0.86	0.88	-0.21	0.94		0.55	S1MF34
E1DU34	0.13	-0.43	0.67	0.58	-0.05	0.59	0.55		E1DU34
	CLOV34	M1LM34	A1MP34	O2NS34	SSFO34	BCPX39	S1MF34	E1DU34

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

S1MF34	+ 0.94	BCPX39
BCPX39	+ 0.9	O2NS34
S1MF34	+ 0.88	O2NS34
O2NS34	+ 0.87	A1MP34
S1MF34	+ 0.86	A1MP34
BCPX39	+ 0.83	A1MP34

High negative correlations

O2NS34	- 0.88	M1LM34
A1MP34	- 0.84	M1LM34
S1MF34	- 0.79	M1LM34
BCPX39	- 0.78	M1LM34
E1DU34	- 0.43	M1LM34
BCPX39	- 0.41	CLOV34

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
CLOV34	2.94	(0.87)	0.00	(0.71)	0.00	0.00	5.69	(9.00)	25.01
M1LM34	0.01	(0.02)	0.00	1.91	0.00	0.00	0.00	0.00	0.59
A1MP34	1.22	0.24	0.08	(0.55)	1.37	(1.23)	2.98	(2.54)	7.65
O2NS34	1.74	0.20	0.08	0.27	1.55	(3.17)	4.38	(3.41)	14.72
SSFO34	2.11	(0.56)	0.00	(0.68)	0.00	0.00	3.24	(6.27)	13.13
BCPX39	2.31	0.46	0.13	(2.19)	2.41	(2.68)	5.06	(4.16)	16.95
S1MF34	1.09	0.38	0.19	1.61	0.33	(2.97)	3.35	(1.75)	14.84
E1DU34	1.68	0.08	0.00	(0.95)	2.15	(2.50)	4.73	(4.51)	12.98

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.

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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

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