SimilarWeb Correlations

SMWB Stock

USD 2.64 0.09 3.53%

The current 90-days correlation between SimilarWeb and NXDR is 0.03 (i.e., Significant 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 -0.64 (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 private.

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

Moving together with SimilarWeb Stock

0.91	U	Unity Software	Pair Corr
0.63	9NY	BYTES TECHGRP LS	Pair Corr
0.96	BL	Blackline Sell-off Trend	Pair Corr
0.93	DT	Dynatrace Holdings LLC	Pair Corr
0.74	DV	DoubleVerify Holdings Earnings Call This Week	Pair Corr
0.87	35U	PAR TECHNOLOGY DL Earnings Call Tomorrow	Pair Corr
0.87	MQ	Marqeta Earnings Call This Week	Pair Corr
0.92	PD	Pagerduty	Pair Corr
0.89	VS	Versus Systems	Pair Corr
0.97	WK	Workiva	Pair Corr
0.85	DMRC	Digimarc Earnings Call This Week	Pair Corr
0.83	RM	RM Plc	Pair Corr
0.93	2TY	PagerDuty	Pair Corr
0.96	DOCU	DocuSign	Pair Corr
0.91	DOMO	Domo Inc Buyout Trend	Pair Corr
0.87	1Q5	Dropbox	Pair Corr
0.86	VERI	Veritone	Pair Corr
0.9	VERX	Vertex Buyout Trend	Pair Corr
0.93	6NCA	NCINO INC DL	Pair Corr
0.87	DSGX	Descartes Systems	Pair Corr
0.94	LY0	Lyft Inc	Pair Corr
0.74	DTCX	Datacentrex Symbol Change	Pair Corr
0.72	0M5	Bill Holdings	Pair Corr

Moving against SimilarWeb Stock

0.87	RNI	OXFORD METRICS LS	Pair Corr
0.82	60Z	UNIFIEDPOST GRP SANV Earnings Call Tomorrow	Pair Corr
0.8	DSG	Dillistone Group PLC	Pair Corr
0.79	JG	Aurora Mobile	Pair Corr
0.57	TRB	Tribal Group plc	Pair Corr
0.52	LUS1	Lang Schwarz Aktieng	Pair Corr
0.46	ZM	Zoom Video Communications Earnings Call Today	Pair Corr
0.39	XV7	SERESCO 16	Pair Corr
0.81	MKQ	Mitek Systems	Pair Corr
0.78	89P	CLAVISTER HOLDING	Pair Corr

Related Correlations Analysis

	NXDR	ATHM	GETY	NN	SSTK	EVER	FVRR	GRPN	ANGI	SIFY
NXDR		0.44	0.34	0.43	0.21	0.57	0.41	0.5	0.69	-0.23	NXDR
ATHM	0.44		0.66	-0.05	0.6	0.75	0.59	0.77	0.64	-0.35	ATHM
GETY	0.34	0.66		-0.35	0.88	0.85	0.91	0.73	0.66	-0.74	GETY
NN	0.43	-0.05	-0.35		-0.48	-0.07	-0.2	-0.06	0.04	0.19	NN
SSTK	0.21	0.6	0.88	-0.48		0.67	0.71	0.58	0.64	-0.47	SSTK
EVER	0.57	0.75	0.85	-0.07	0.67		0.9	0.93	0.72	-0.7	EVER
FVRR	0.41	0.59	0.91	-0.2	0.71	0.9		0.84	0.61	-0.87	FVRR
GRPN	0.5	0.77	0.73	-0.06	0.58	0.93	0.84		0.66	-0.65	GRPN
ANGI	0.69	0.64	0.66	0.04	0.64	0.72	0.61	0.66		-0.27	ANGI
SIFY	-0.23	-0.35	-0.74	0.19	-0.47	-0.7	-0.87	-0.65	-0.27		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	+ 0.93	EVER
FVRR	+ 0.91	GETY
FVRR	+ 0.9	EVER
SSTK	+ 0.88	GETY
EVER	+ 0.85	GETY
GRPN	+ 0.84	FVRR

High negative correlations

SIFY	- 0.87	FVRR
SIFY	- 0.74	GETY
SIFY	- 0.7	EVER
SIFY	- 0.65	GRPN
SSTK	- 0.48	NN
SIFY	- 0.47	SSTK

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	3.10	0.02	0.01	0.10	3.87	(3.82)	8.06	(6.28)	40.31
ATHM	1.36	(0.19)	0.00	(0.19)	0.00	0.00	2.84	(3.40)	7.73
GETY	3.05	(1.28)	0.00	(0.40)	0.00	0.00	5.59	(10.84)	20.27
NN	3.03	0.26	0.09	0.20	3.78	(3.69)	8.36	(3.87)	30.05
SSTK	2.37	(0.46)	0.00	(0.17)	0.00	0.00	4.44	(5.07)	17.96
EVER	2.30	(0.78)	0.00	(0.45)	0.00	0.00	4.30	(5.25)	19.99
FVRR	2.24	(1.03)	0.00	(0.49)	0.00	0.00	3.22	(7.05)	13.85
GRPN	2.48	(0.46)	0.00	3.81	0.00	0.00	4.70	(5.69)	12.72
ANGI	2.96	(0.41)	0.00	(0.42)	0.00	0.00	4.29	(5.92)	35.74
SIFY	2.99	0.36	0.10	0.28	4.05	(2.98)	7.50	(5.78)	23.38

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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