SimilarWeb Correlations

SMWB Stock

USD 7.49 0.04 0.54%

The current 90-days correlation between SimilarWeb and NXDR is 0.22 (i.e., Modest diversification). The correlation of SimilarWeb 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.

SimilarWeb Correlation With Market

Weak diversification

The correlation between SimilarWeb and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SimilarWeb and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with SimilarWeb Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in SimilarWeb. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

For information on how to trade SimilarWeb Stock refer to our How to Trade SimilarWeb Stock guide.

Moving together with SimilarWeb Stock

0.87	DT	Dynatrace Holdings LLC	Pair Corr
0.8	JG	Aurora Mobile	Pair Corr
0.76	PD	Pagerduty	Pair Corr
0.79	QH	Quhuo	Pair Corr
0.92	VS	Versus Systems	Pair Corr
0.66	DSG	Dillistone Group	Pair Corr
0.7	688078	Beijing LongRuan Tec	Pair Corr
0.8	DMRC	Digimarc	Pair Corr
0.9	DOMO	Domo Inc	Pair Corr
0.79	002410	Glodon Software	Pair Corr
0.81	VERX	Vertex	Pair Corr
0.74	600588	Yonyou Network Technology	Pair Corr
0.95	VRAR	Glimpse Group	Pair Corr
0.81	603383	Fujian Apex Software	Pair Corr

Moving against SimilarWeb Stock

0.65	BL	Blackline	Pair Corr
0.55	U	Unity Software	Pair Corr
0.5	ZM	Zoom Video Communications Sell-off Trend	Pair Corr
0.47	BGE	Bridge Saas	Pair Corr
0.41	NN	Nextnav Acquisition Corp	Pair Corr
0.31	WK	Workiva	Pair Corr
0.68	RM	RM Plc	Pair Corr
0.58	DTST	Data Storage Corp	Pair Corr
0.44	DUOT	Duos Technologies Downward Rally	Pair Corr
0.41	300036	Beijing SuperMap Software	Pair Corr
0.34	TRB	Tribal Group plc	Pair Corr
0.85	MKT	DeepMarkit Corp	Pair Corr
0.81	ELWS	Earlyworks Co, Trending	Pair Corr
0.64	VMEO	Vimeo Inc	Pair Corr

Related Correlations Analysis

	NXDR	ATHM	GETY	NN	SSTK	EVER	FVRR	GRPN	ANGI	SIFY
NXDR		0.15	0.07	0.72	-0.15	0.06	0.12	0.14	0.59	0.3	NXDR
ATHM	0.15		0.9	-0.31	0.63	-0.76	0.89	0.92	0.76	0.63	ATHM
GETY	0.07	0.9		-0.47	0.81	-0.87	0.83	0.86	0.63	0.63	GETY
NN	0.72	-0.31	-0.47		-0.64	0.58	-0.27	-0.27	0.26	0.02	NN
SSTK	-0.15	0.63	0.81	-0.64		-0.87	0.57	0.63	0.27	0.31	SSTK
EVER	0.06	-0.76	-0.87	0.58	-0.87		-0.65	-0.73	-0.43	-0.54	EVER
FVRR	0.12	0.89	0.83	-0.27	0.57	-0.65		0.87	0.76	0.56	FVRR
GRPN	0.14	0.92	0.86	-0.27	0.63	-0.73	0.87		0.77	0.65	GRPN
ANGI	0.59	0.76	0.63	0.26	0.27	-0.43	0.76	0.77		0.56	ANGI
SIFY	0.3	0.63	0.63	0.02	0.31	-0.54	0.56	0.65	0.56		SIFY
	NXDR	ATHM	GETY	NN	SSTK	EVER	FVRR	GRPN	ANGI	SIFY

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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

GRPN	+ 0.92	ATHM
GETY	+ 0.9	ATHM
FVRR	+ 0.89	ATHM
GRPN	+ 0.87	FVRR
GRPN	+ 0.86	GETY
FVRR	+ 0.83	GETY

High negative correlations

EVER	- 0.87	SSTK
EVER	- 0.87	GETY
EVER	- 0.76	ATHM
GRPN	- 0.73	EVER
FVRR	- 0.65	EVER
SSTK	- 0.64	NN

Risk-Adjusted Indicators

There is a big difference between SimilarWeb Stock performing well and SimilarWeb 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 SimilarWeb'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
NXDR	3.16	0.03	0.03	0.08	3.71	(4.04)	8.06	(5.73)	40.31
ATHM	1.24	(0.35)	0.00	(0.41)	0.00	0.00	1.82	(3.06)	6.79
GETY	3.31	(0.73)	0.00	(0.31)	0.00	0.00	7.09	(7.35)	22.29
NN	2.75	0.02	0.02	0.07	3.33	(2.98)	6.21	(6.04)	14.69
SSTK	2.68	(0.22)	0.00	(0.04)	0.00	0.00	6.03	(4.66)	20.80
EVER	1.91	0.15	0.06	0.22	2.08	(1.96)	4.31	(3.22)	12.23
FVRR	1.81	(0.44)	0.00	(0.29)	0.00	0.00	2.61	(4.24)	10.84
GRPN	2.91	(0.46)	0.00	(0.12)	0.00	0.00	5.13	(7.67)	18.61
ANGI	2.25	(0.44)	0.00	(0.24)	0.00	0.00	4.27	(5.38)	12.67
SIFY	4.38	0.02	0.00	0.09	5.84	(4.59)	9.64	(7.02)	28.17

SimilarWeb Corporate Management

Susan Dunn	Chief Officer	Profile
Jason CPA	Chief Officer	Profile
Tzipi Ozerarmon	Director	Profile
Stephen Kraus	Chief Insights	Profile
Guy Gomberg	Chief Officer	Profile
Naama Kushnir	Chief Officer	Profile

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