SimilarWeb Correlations

SMWB Stock

USD 4.92 0.29 5.57%

The current 90-days correlation between SimilarWeb and NXDR is 0.16 (i.e., Average 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

Excellent diversification

The correlation between SimilarWeb and DJI is -0.6 (i.e., Excellent 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 american community survey.

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

Moving together with SimilarWeb Stock

0.91	DT	Dynatrace Holdings LLC Earnings Call Tomorrow	Pair Corr
0.86	DOCU	DocuSign	Pair Corr
0.94	OTEX	Open Text Corp Earnings Call This Week	Pair Corr
0.65	WKEY	Wisekey International	Pair Corr
0.85	BSY	Bentley Systems	Pair Corr
0.86	MRT	Marti Technologies	Pair Corr
0.61	XNET	Xunlei Ltd Adr	Pair Corr
0.83	SAP	SAP SE ADR	Pair Corr
0.84	WCT	Wellchange Holdings	Pair Corr
0.76	KXS	Kinaxis	Pair Corr
0.79	LMN	Lumine Group	Pair Corr
0.63	MYSE	Myseum Symbol Change	Pair Corr
0.88	TOI	Topicus	Pair Corr
0.85	PERF	Perfect Corp	Pair Corr
0.87	AEYE	AudioEye	Pair Corr
0.79	AMST	Amesite Operating	Pair Corr
0.68	SMSI	Smith Micro Software	Pair Corr
0.71	STEX	Streamex Corp Symbol Change	Pair Corr

Moving against SimilarWeb Stock

0.81	LTCH	Latch Inc	Pair Corr
0.79	API	Agora Inc	Pair Corr
0.74	ONTF	ON24 Inc	Pair Corr
0.72	MGIC	Magic Software Enter	Pair Corr
0.57	MITK	Mitek Systems	Pair Corr
0.54	MTC	MMTEC Inc Upward Rally	Pair Corr
0.37	JG	Aurora Mobile	Pair Corr
0.34	IBEX	IBEX	Pair Corr
0.89	NHYDY	Norsk Hydro ASA	Pair Corr
0.81	ASML	ASML Holding NV	Pair Corr
0.77	TCX	Tucows Inc	Pair Corr
0.73	LOVFF	Cannara Biotech	Pair Corr
0.68	BWA	BorgWarner Earnings Call This Week	Pair Corr
0.64	AXIN	Axiom Intelligence	Pair Corr
0.59	MNMD	Mind Medicine Symbol Change	Pair Corr
0.56	MTSFY	Mitsui Fudosan Earnings Call This Week	Pair Corr

Related Correlations Analysis

	NXDR	ATHM	GETY	NN	SSTK	EVER	FVRR	GRPN	ANGI	SIFY
NXDR		-0.14	-0.28	0.72	-0.35	0.24	-0.16	-0.16	0.63	0.21	NXDR
ATHM	-0.14		0.69	-0.43	0.73	-0.51	0.31	0.67	0.05	-0.08	ATHM
GETY	-0.28	0.69		-0.61	0.9	-0.42	0.72	0.73	-0.12	-0.52	GETY
NN	0.72	-0.43	-0.61		-0.67	0.45	-0.36	-0.35	0.55	0.31	NN
SSTK	-0.35	0.73	0.9	-0.67		-0.65	0.54	0.68	-0.13	-0.28	SSTK
EVER	0.24	-0.51	-0.42	0.45	-0.65		0.12	-0.17	-0.04	-0.32	EVER
FVRR	-0.16	0.31	0.72	-0.36	0.54	0.12		0.7	-0.19	-0.84	FVRR
GRPN	-0.16	0.67	0.73	-0.35	0.68	-0.17	0.7		-0.02	-0.47	GRPN
ANGI	0.63	0.05	-0.12	0.55	-0.13	-0.04	-0.19	-0.02		0.45	ANGI
SIFY	0.21	-0.08	-0.52	0.31	-0.28	-0.32	-0.84	-0.47	0.45		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

SSTK	+ 0.9	GETY
SSTK	+ 0.73	ATHM
GRPN	+ 0.73	GETY
NN	+ 0.72	NXDR
FVRR	+ 0.72	GETY
GRPN	+ 0.7	FVRR

High negative correlations

SIFY	- 0.84	FVRR
SSTK	- 0.67	NN
EVER	- 0.65	SSTK
NN	- 0.61	GETY
SIFY	- 0.52	GETY
EVER	- 0.51	ATHM

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	3.08	0.01	0.01	0.05	3.73	(4.00)	8.06	(5.73)	40.31
ATHM	1.39	(0.22)	0.00	(0.35)	0.00	0.00	2.84	(3.43)	7.71
GETY	2.36	(0.71)	0.00	(0.44)	0.00	0.00	5.51	(6.63)	18.86
NN	3.15	0.21	0.06	0.15	4.34	(3.56)	6.53	(6.11)	30.05
SSTK	2.23	(0.37)	0.00	(0.15)	0.00	0.00	4.72	(4.09)	11.66
EVER	1.90	0.19	0.07	0.37	2.08	(2.01)	4.31	(3.84)	14.16
FVRR	1.83	(0.54)	0.00	(0.40)	0.00	0.00	3.22	(4.82)	11.60
GRPN	2.71	(0.52)	0.00	(0.27)	0.00	0.00	5.05	(6.87)	18.61
ANGI	2.36	(0.11)	0.00	(0.06)	0.00	0.00	4.29	(4.24)	18.99
SIFY	3.52	0.52	0.11	0.45	4.46	(3.53)	8.16	(5.83)	27.94

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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