SoundHound Correlations

SOUN Stock

USD 7.83 0.29 3.85%

The current 90-days correlation between SoundHound AI and Lam Research Corp is 0.41 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as SoundHound moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if SoundHound AI moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

SoundHound Correlation With Market

Excellent diversification

The correlation between SoundHound AI and DJI is -0.62 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SoundHound AI and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with SoundHound Stock

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

Moving together with SoundHound Stock

0.86	U	Unity Software	Pair Corr
0.91	BL	Blackline	Pair Corr
0.88	DT	Dynatrace Holdings LLC	Pair Corr
0.61	DV	DoubleVerify Holdings	Pair Corr
0.84	35U	PAR TECHNOLOGY DL Earnings Call This Week	Pair Corr
0.84	MQ	Marqeta	Pair Corr
0.85	PD	Pagerduty	Pair Corr
0.83	VS	Versus Systems	Pair Corr
0.94	WK	Workiva	Pair Corr
0.86	DMRC	Digimarc	Pair Corr
0.75	RM	RM Plc	Pair Corr
0.83	2TY	PagerDuty	Pair Corr
0.89	DOCU	DocuSign	Pair Corr
0.83	DOMO	Domo Inc Downward Rally	Pair Corr
0.88	1Q5	Dropbox	Pair Corr
0.8	VERI	Veritone	Pair Corr
0.84	VERX	Vertex	Pair Corr
0.85	DSGX	Descartes Systems	Pair Corr
0.89	LY0	Lyft Inc	Pair Corr
0.65	0M5	Bill Holdings	Pair Corr
0.86	AN5	Alpha Systems	Pair Corr

Moving against SoundHound Stock

0.74	60Z	UNIFIEDPOST GRP SANV Earnings Call This Week	Pair Corr
0.67	RNI	OXFORD METRICS LS	Pair Corr
0.64	DSG	Dillistone Group PLC	Pair Corr
0.63	JG	Aurora Mobile	Pair Corr
0.63	TRB	Tribal Group plc	Pair Corr
0.57	ZM	Zoom Video Communications Earnings Call This Week	Pair Corr
0.43	XV7	SERESCO 16	Pair Corr
0.7	MKQ	Mitek Systems	Pair Corr
0.59	89P	CLAVISTER HOLDING	Pair Corr
0.48	EGHT	8x8 Common Stock	Pair Corr

Related Correlations Analysis

	SHOP	UBER	APP	MU	NOW	IBM	CSCO	LRCX
SHOP		0.62	0.95	-0.64	0.79	0.68	-0.5	-0.57	SHOP
UBER	0.62		0.58	-0.64	0.81	0.66	-0.44	-0.63	UBER
APP	0.95	0.58		-0.62	0.77	0.7	-0.34	-0.56	APP
MU	-0.64	-0.64	-0.62		-0.9	-0.47	0.27	0.98	MU
NOW	0.79	0.81	0.77	-0.9		0.6	-0.41	-0.9	NOW
IBM	0.68	0.66	0.7	-0.47	0.6		-0.1	-0.43	IBM
CSCO	-0.5	-0.44	-0.34	0.27	-0.41	-0.1		0.24	CSCO
LRCX	-0.57	-0.63	-0.56	0.98	-0.9	-0.43	0.24		LRCX
	SHOP	UBER	APP	MU	NOW	IBM	CSCO	LRCX

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

LRCX	+ 0.98	MU
APP	+ 0.95	SHOP
NOW	+ 0.81	UBER
NOW	+ 0.79	SHOP
NOW	+ 0.77	APP
IBM	+ 0.7	APP

High negative correlations

LRCX	- 0.9	NOW
NOW	- 0.9	MU
MU	- 0.64	UBER
MU	- 0.64	SHOP
LRCX	- 0.63	UBER
MU	- 0.62	APP

Risk-Adjusted Indicators

There is a big difference between SoundHound Stock performing well and SoundHound 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 SoundHound'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
SHOP	2.59	(0.29)	0.00	(0.12)	0.00	0.00	5.67	(6.78)	15.50
UBER	1.54	(0.36)	0.00	(0.71)	0.00	0.00	2.46	(3.82)	11.09
APP	3.79	(0.40)	0.00	(0.18)	0.00	0.00	7.44	(8.24)	32.87
MU	3.57	0.86	0.23	0.58	3.26	(4.24)	9.94	(5.56)	20.06
NOW	2.11	(0.69)	0.00	(1.21)	0.00	0.00	2.69	(6.97)	13.48
IBM	1.56	(0.32)	0.00	(0.17)	0.00	0.00	2.61	(4.69)	11.62
CSCO	1.22	(0.01)	0.00	0.05	2.46	(1.23)	2.96	(2.35)	15.57
LRCX	2.66	0.61	0.20	0.35	2.81	(2.99)	7.00	(5.07)	17.49

SoundHound Corporate Management

Timothy Stonehocker	Chief Officer	Profile
Michael Zagorsek	Chief Officer	Profile
Warren JD	Senior Counsel	Profile
Nitesh CFA	Chief Officer	Profile
Warren Heit	Senior Counsel	Profile
Shawnna DelHierro	Senior Officer	Profile

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