SAP SE Correlations

SAPGF Stock

USD 230.74 4.03 1.72%

The current 90-days correlation between SAP SE and Salesforce is 0.18 (i.e., Average diversification). The correlation of SAP SE 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.

SAP SE Correlation With Market

Modest diversification

The correlation between SAP SE and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SAP SE and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to SAP SE could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace SAP SE 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 SAP SE - 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 SAP SE to buy it.

Moving together with SAP Pink Sheet

0.76	CRM	Salesforce Earnings Call This Week	Pair Corr
0.97	SAP	SAP SE ADR Fiscal Year End 28th of January 2025	Pair Corr
0.79	NOW	ServiceNow Fiscal Year End 22nd of January 2025	Pair Corr
0.66	APP	Applovin Corp Tech Boost	Pair Corr
0.7	MSTR	MicroStrategy Incorporated Aggressive Push	Pair Corr
0.78	MRVL	Marvell Technology Earnings Call This Week	Pair Corr
0.79	STLD	Steel Dynamics Fiscal Year End 28th of January 2025	Pair Corr
0.69	APLD	Applied Blockchain Trending	Pair Corr
0.77	CRWD	Crowdstrike Holdings Earnings Call This Week	Pair Corr
0.82	NVDA	NVIDIA	Pair Corr
0.83	ADSK	Autodesk	Pair Corr
0.64	GM	General Motors	Pair Corr
0.61	ZM	Zoom Video Communications Earnings Call This Week	Pair Corr
0.79	ALAB	Astera Labs, Common Tech Boost	Pair Corr

Moving against SAP Pink Sheet

0.65	AMIX	Autonomix Medical, Common Trending	Pair Corr
0.42	VNTN	VentureNet Capital	Pair Corr
0.41	AFFL	Affiliated Resources Corp	Pair Corr

Related Correlations Analysis

	CRM	SAP	NOW	INTU	UBER	SHOP	APP	MSTR	CDNS
CRM		0.75	0.93	0.49	0.08	0.89	0.93	0.92	0.73	CRM
SAP	0.75		0.8	0.19	0.37	0.54	0.67	0.69	0.49	SAP
NOW	0.93	0.8		0.55	0.03	0.84	0.92	0.88	0.74	NOW
INTU	0.49	0.19	0.55		-0.46	0.63	0.63	0.5	0.73	INTU
UBER	0.08	0.37	0.03	-0.46		-0.08	-0.15	-0.09	-0.21	UBER
SHOP	0.89	0.54	0.84	0.63	-0.08		0.92	0.89	0.72	SHOP
APP	0.93	0.67	0.92	0.63	-0.15	0.92		0.96	0.75	APP
MSTR	0.92	0.69	0.88	0.5	-0.09	0.89	0.96		0.7	MSTR
CDNS	0.73	0.49	0.74	0.73	-0.21	0.72	0.75	0.7		CDNS
	CRM	SAP	NOW	INTU	UBER	SHOP	APP	MSTR	CDNS

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

MSTR	+ 0.96	APP
NOW	+ 0.93	CRM
APP	+ 0.93	CRM
MSTR	+ 0.92	CRM
APP	+ 0.92	NOW
APP	+ 0.92	SHOP

High negative correlations

UBER	- 0.46	INTU
CDNS	- 0.21	UBER
APP	- 0.15	UBER
MSTR	- 0.09	UBER
SHOP	- 0.08	UBER

Risk-Adjusted Indicators

There is a big difference between SAP Pink Sheet performing well and SAP SE 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 SAP SE'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
CRM	1.28	0.27	0.23	0.33	0.92	(1.51)	3.18	(1.91)	9.09
SAP	1.07	0.06	0.01	0.22	1.14	(1.23)	2.16	(1.91)	6.50
NOW	1.36	0.23	0.17	0.30	1.23	(1.65)	3.04	(2.24)	8.12
INTU	1.28	(0.07)	(0.04)	0.03	1.85	(1.36)	3.34	(2.37)	9.88
UBER	1.56	(0.16)	0.00	(0.06)	0.00	0.00	2.53	(2.44)	20.10
SHOP	2.01	0.43	0.22	0.45	1.70	(2.41)	4.91	(2.68)	26.26
APP	3.31	2.01	0.95	2.65	0.75	(4.01)	9.39	(2.70)	48.02
MSTR	5.23	1.47	0.35	0.56	4.01	(6.65)	12.96	(6.05)	33.64
CDNS	1.79	0.02	0.02	0.12	2.08	(1.93)	3.47	(4.40)	17.32

Be your own money manager

Our tools can tell you how much better you can do entering a position in SAP SE 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?

Run Equity Valuation Now

Equity Valuation

Check real value of public entities based on technical and fundamental data

All Next

Launch Module

SAP SE Corporate Management

Sabine Bendiek	Labor Officer	Profile
Juergen Mller	CTO Board	Profile
Scott Russell	Head Board	Profile
Julia White	Chief Board	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC