Snap Correlations

SNAP Stock

USD 5.14 0.14 2.80%

The current 90-days correlation between Snap Inc and Twilio Inc is 0.58 (i.e., Very weak diversification). The correlation of Snap 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Snap Correlation With Market

Excellent diversification

The correlation between Snap Inc and DJI is -0.52 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Snap Inc and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Snap Stock

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

Moving together with Snap Stock

0.76	BZ	Kanzhun Ltd ADR	Pair Corr
0.72	MH	McGraw Hill	Pair Corr
0.61	1PX	PHOENIX NEW MEDADR	Pair Corr
0.86	2UA	Auto Trader Group	Pair Corr
0.69	AD1	Adneo	Pair Corr
0.77	TWH	Twilio Inc	Pair Corr
0.68	2V8	Opera Limited Earnings Call This Week	Pair Corr
0.84	WBTN	WEBTOON Entertainment	Pair Corr
0.91	EVER	EverQuote Class A Earnings Call Tomorrow	Pair Corr
0.74	639	Spotify Technology	Pair Corr
0.73	DUO	Fangdd Network Group	Pair Corr
0.94	GTM	ZoomInfo Technologies Earnings Call Tomorrow	Pair Corr
0.69	IPM	Intelligent Protection	Pair Corr
0.88	MAX	MediaAlpha	Pair Corr
0.98	1SI	Snap Inc	Pair Corr
0.93	Y9L	Yelp Inc	Pair Corr
0.72	SLE	Super League Enterprise	Pair Corr
0.98	1SI	Snap Inc	Pair Corr

Moving against Snap Stock

0.81	DHX	DHI Group	Pair Corr
0.6	LOCAL	Solocal Group SA	Pair Corr
0.56	PU11	Social Chain	Pair Corr
0.49	SY	So Young International	Pair Corr
0.59	GITS	Global Interactive	Pair Corr

Related Correlations Analysis

	TWLO	Z	ROKU	OMC	NWSA	FYBR	TKO	JOYY
TWLO		0.68	0.86	0.63	0.7	-0.39	0.19	0.25	TWLO
Z	0.68		0.6	0.29	0.78	-0.74	-0.34	0.12	Z
ROKU	0.86	0.6		0.77	0.81	-0.18	0.3	0.49	ROKU
OMC	0.63	0.29	0.77		0.62	0.14	0.41	0.52	OMC
NWSA	0.7	0.78	0.81	0.62		-0.36	-0.07	0.46	NWSA
FYBR	-0.39	-0.74	-0.18	0.14	-0.36		0.61	0.38	FYBR
TKO	0.19	-0.34	0.3	0.41	-0.07	0.61		0.32	TKO
JOYY	0.25	0.12	0.49	0.52	0.46	0.38	0.32		JOYY
	TWLO	Z	ROKU	OMC	NWSA	FYBR	TKO	JOYY

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

ROKU	+ 0.86	TWLO
NWSA	+ 0.81	ROKU
NWSA	+ 0.78	Z
OMC	+ 0.77	ROKU
NWSA	+ 0.7	TWLO
Z	+ 0.68	TWLO

High negative correlations

FYBR	- 0.74	Z
FYBR	- 0.39	TWLO
FYBR	- 0.36	NWSA
TKO	- 0.34	Z
FYBR	- 0.18	ROKU
TKO	- 0.07	NWSA

Risk-Adjusted Indicators

There is a big difference between Snap Stock performing well and Snap 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 Snap'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
TWLO	2.12	(0.19)	0.00	(0.13)	0.00	0.00	4.10	(5.24)	14.05
Z	2.15	(0.69)	0.00	(0.39)	0.00	0.00	3.15	(4.73)	22.75
ROKU	2.02	(0.23)	0.00	(0.12)	0.00	0.00	3.80	(5.24)	12.47
OMC	1.89	0.23	0.07	0.52	2.58	(1.90)	4.66	(2.96)	16.86
NWSA	1.13	(0.17)	0.00	(0.49)	0.00	0.00	2.07	(2.56)	10.65
FYBR	0.13	0.03	(0.28)	(2.78)	0.00	(0.18)	0.29	(0.21)	0.68
TKO	1.43	0.18	0.07	0.36	1.90	(1.42)	3.19	(2.69)	9.86
JOYY	1.52	0.13	0.03	7.63	1.81	(1.71)	3.17	(3.10)	11.39

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