Snowflake Correlations

SNOW Stock

USD 129.12 1.12 0.86%

The current 90-days correlation between Snowflake and Workday is 0.29 (i.e., Modest diversification). The correlation of Snowflake 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.

Snowflake Correlation With Market

Very weak diversification

The correlation between Snowflake and DJI is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Snowflake 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 Snowflake. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

For more information on how to buy Snowflake Stock please use our How to Invest in Snowflake guide.

Moving together with Snowflake Stock

0.77	AI	C3 Ai Inc Tech Boost	Pair Corr
0.61	AZ	A2Z Smart Technologies	Pair Corr
0.62	BL	Blackline	Pair Corr
0.67	ML	MoneyLion Downward Rally	Pair Corr
0.72	WK	Workiva	Pair Corr
0.65	DOCU	DocuSign	Pair Corr
0.73	DOMO	Domo Inc Earnings Call This Week	Pair Corr
0.63	VERX	Vertex	Pair Corr
0.69	DSGX	Descartes Systems	Pair Corr
0.73	VTSI	VirTra Inc	Pair Corr

Moving against Snowflake Stock

0.52	DMAN	Innovativ Media Group	Pair Corr
0.38	VERB	VERB TECHNOLOGY PANY Upward Rally	Pair Corr
0.69	ELCO	Elcom International	Pair Corr
0.54	ETWO	E2open Parent Holdings	Pair Corr
0.53	EZFL	EzFill Holdings	Pair Corr
0.52	XELAP	Exela Technologies Earnings Call This Week	Pair Corr
0.42	WRNT	Warrantee American	Pair Corr
0.33	SBIGW	SpringBig Holdings	Pair Corr
0.32	EVOL	Evolving Systems	Pair Corr

Related Correlations Analysis

	AI	SHOP	WDAY	INTU	ZM	CRM	TTD	NOW	ADSK
AI		0.74	0.13	0.33	0.66	0.83	0.78	0.77	0.81	AI
SHOP	0.74		0.39	0.59	0.76	0.88	0.72	0.83	0.8	SHOP
WDAY	0.13	0.39		0.54	0.49	0.2	0.05	0.2	0.18	WDAY
INTU	0.33	0.59	0.54		0.51	0.44	0.31	0.49	0.38	INTU
ZM	0.66	0.76	0.49	0.51		0.86	0.81	0.82	0.85	ZM
CRM	0.83	0.88	0.2	0.44	0.86		0.93	0.92	0.95	CRM
TTD	0.78	0.72	0.05	0.31	0.81	0.93		0.91	0.95	TTD
NOW	0.77	0.83	0.2	0.49	0.82	0.92	0.91		0.95	NOW
ADSK	0.81	0.8	0.18	0.38	0.85	0.95	0.95	0.95		ADSK
	AI	SHOP	WDAY	INTU	ZM	CRM	TTD	NOW	ADSK

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Risk-Adjusted Indicators

There is a big difference between Snowflake Stock performing well and Snowflake 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 Snowflake'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
AI	2.31	0.34	0.13	0.29	2.43	(2.49)	6.75	(5.04)	13.55
SHOP	2.00	0.44	0.22	0.44	1.71	(2.39)	4.91	(2.68)	26.26
WDAY	1.32	0.09	0.06	0.16	1.35	(1.46)	2.45	(1.91)	16.94
INTU	1.23	(0.11)	0.00	(0.03)	0.00	0.00	1.93	(2.37)	9.88
ZM	1.46	0.40	0.22	0.70	1.26	(1.65)	2.93	(2.72)	16.91
CRM	1.25	0.24	0.20	0.30	0.94	(1.47)	3.18	(1.91)	9.09
TTD	1.49	0.22	0.10	0.29	1.78	(1.62)	3.36	(3.12)	12.33
NOW	1.33	0.21	0.15	0.28	1.22	(1.59)	3.04	(2.24)	8.12
ADSK	0.98	0.21	0.18	0.26	0.93	(1.07)	2.14	(1.74)	6.06

Snowflake Corporate Management

Marcin Zukowski	CoFounder Engineering	Profile
Brad Burns	Chief Officer	Profile
Muralidhar	Chief Officer	Profile
Tyler Prince	Senior Channels	Profile
Sylvia Pagan	Chief Officer	Profile
Thierry Cruanes	CoFounder CTO	Profile

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