SimilarWeb Correlations

SMWB Stock

USD 16.21 0.80 4.70%

The current 90-days correlation between SimilarWeb and Olo Inc is 0.33 (i.e., Weak 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

Significant diversification

The correlation between SimilarWeb and DJI is 0.04 (i.e., Significant 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.

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 housing.

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

Moving together with SimilarWeb Stock

0.93	KC	Kingsoft Cloud Holdings Downward Rally	Pair Corr
0.79	ML	MoneyLion	Pair Corr
0.83	WK	Workiva	Pair Corr
0.8	DOCU	DocuSign	Pair Corr
0.86	VCSA	Vacasa Inc	Pair Corr
0.83	VERX	Vertex	Pair Corr
0.62	DSGX	Descartes Systems	Pair Corr
0.68	DUOT	Duos Technologies	Pair Corr
0.78	EGAN	eGain Earnings Call This Week	Pair Corr
0.92	ENFN	Enfusion	Pair Corr
0.8	WBTN	WEBTOON Entertainment	Pair Corr
0.75	WFCF	Where Food Comes	Pair Corr
0.72	ESTC	Elastic NV Tech Boost	Pair Corr
0.82	EXFY	Expensify	Pair Corr

Moving against SimilarWeb Stock

0.89	VERB	VERB TECHNOLOGY PANY	Pair Corr
0.63	VTEX	VTEX	Pair Corr
0.54	ZI	ZoomInfo Technologies	Pair Corr
0.45	DOMO	Domo Inc Tech Boost	Pair Corr
0.9	EVOL	Evolving Systems	Pair Corr
0.74	ETWO	E2open Parent Holdings	Pair Corr
0.71	SBIGW	SpringBig Holdings	Pair Corr
0.69	BSY	Bentley Systems	Pair Corr
0.65	CYN	Cyngn Inc	Pair Corr
0.62	XELAP	Exela Technologies	Pair Corr
0.41	ANY	Sphere 3D Corp	Pair Corr
0.39	FICO	Fair Isaac	Pair Corr

Related Correlations Analysis

	OLO	EXFY	LAW	RSKD	WKME	SEMR	MNDY	LTCH	MIXT
OLO		0.96	-0.47	0.65	0.29	0.07	-0.68	0.63	-0.83	OLO
EXFY	0.96		-0.34	0.68	0.36	0.14	-0.57	0.6	-0.74	EXFY
LAW	-0.47	-0.34		-0.28	0.0	-0.07	0.8	-0.63	0.75	LAW
RSKD	0.65	0.68	-0.28		0.25	0.56	-0.24	0.81	-0.53	RSKD
WKME	0.29	0.36	0.0	0.25		0.46	-0.07	0.23	-0.13	WKME
SEMR	0.07	0.14	-0.07	0.56	0.46		0.13	0.53	0.03	SEMR
MNDY	-0.68	-0.57	0.8	-0.24	-0.07	0.13		-0.56	0.84	MNDY
LTCH	0.63	0.6	-0.63	0.81	0.23	0.53	-0.56		-0.7	LTCH
MIXT	-0.83	-0.74	0.75	-0.53	-0.13	0.03	0.84	-0.7		MIXT
	OLO	EXFY	LAW	RSKD	WKME	SEMR	MNDY	LTCH	MIXT

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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

EXFY	+ 0.96	OLO
MIXT	+ 0.84	MNDY
LTCH	+ 0.81	RSKD
MNDY	+ 0.8	LAW
MIXT	+ 0.75	LAW
RSKD	+ 0.68	EXFY

High negative correlations

MIXT	- 0.83	OLO
MIXT	- 0.74	EXFY
MIXT	- 0.7	LTCH
MNDY	- 0.68	OLO
LTCH	- 0.63	LAW
MNDY	- 0.57	EXFY

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
OLO	2.17	0.56	0.20	0.95	2.18	(2.47)	5.32	(4.28)	16.44
EXFY	3.42	1.19	0.41	1.56	2.29	(4.50)	8.14	(3.85)	30.21
LAW	2.09	(0.14)	0.00	3.65	0.00	0.00	5.12	(4.79)	17.13
RSKD	1.63	0.22	0.08	0.56	1.89	(1.85)	3.15	(2.54)	12.56
WKME	0.19	0.01	(0.29)	0.17	0.17	(0.25)	0.51	(0.29)	2.17
SEMR	2.30	0.42	0.15	0.50	2.33	(2.50)	5.88	(4.37)	15.03
MNDY	2.81	(0.37)	0.00	(0.18)	0.00	0.00	6.35	(5.63)	21.57
LTCH	5.83	1.57	0.27	1.68	4.91	(7.27)	17.48	(8.26)	31.38
MIXT	2.00	(0.19)	0.00	(0.73)	0.00	0.00	3.52	(3.34)	12.12

SimilarWeb Corporate Management

Susan Dunn	Chief Officer	Profile
Tzipi Ozerarmon	Director	Profile
Stephen Kraus	Chief Insights	Profile
Guy Gomberg	Chief Officer	Profile
Kevin Spurway	Chief Marketing Officer	Profile
Lior Degani	Chief Officer	Profile

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