Spotify Technology Correlations

SPOT Stock

USD 508.58 8.23 1.64%

The current 90-days correlation between Spotify Technology and DoorDash Class A is 0.11 (i.e., Average diversification). The correlation of Spotify Technology 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.

Spotify Technology Correlation With Market

Excellent diversification

The correlation between Spotify Technology SA and DJI is -0.69 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Spotify Technology SA and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Spotify Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Spotify Technology SA. 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.

Moving together with Spotify Stock

0.75	WA7	Seven West Media Earnings Call This Week	Pair Corr
0.75	8MN	LINMON MEDIA LTD	Pair Corr
0.81	AIM	Ai Media Technologies	Pair Corr
0.65	ZIN	Zinc Media Group	Pair Corr
0.71	MYPS	Playstudios	Pair Corr
0.73	IB5A	i CABLE Communications	Pair Corr
0.73	EMAN	Everyman Media Group	Pair Corr
0.74	BLIBQ	BB Liquidating B	Pair Corr
0.73	SEAT	Vivid Seats	Pair Corr
0.61	TEAD	Teads BV Symbol Change	Pair Corr
0.73	ENSV	Enservco	Pair Corr

Moving against Spotify Stock

0.77	SJ	Scienjoy Holding Corp	Pair Corr
0.63	9DB	Dave Busters Enterta	Pair Corr
0.58	MSGM	Motorsport Gaming	Pair Corr
0.77	TLSNF	Telia Company	Pair Corr
0.75	STGW	Stagwell	Pair Corr
0.74	SRRK	Scholar Rock Holding	Pair Corr
0.72	BODI	Beachbody	Pair Corr
0.67	TNSGF	Findev Inc	Pair Corr
0.64	ISNPY	Intesa Sanpaolo SpA	Pair Corr
0.63	D2V	PARKEN Sport Enterta	Pair Corr
0.47	50077LBJ4	US50077LBJ44	Pair Corr
0.46	TYIDF	Toyota Industries Corp Earnings Call Today	Pair Corr
0.44	BMRC	Bank of Marin	Pair Corr

Related Correlations Analysis

	DASH	T	VZ	CMCSA	NBIS	RDDT	TME	BIDU
DASH		-0.3	-0.36	0.04	0.47	0.25	0.5	-0.11	DASH
T	-0.3		0.6	-0.46	-0.14	-0.54	0.24	-0.5	T
VZ	-0.36	0.6		0.15	-0.45	-0.28	-0.32	0.02	VZ
CMCSA	0.04	-0.46	0.15		-0.17	0.24	-0.55	0.81	CMCSA
NBIS	0.47	-0.14	-0.45	-0.17		-0.06	0.68	0.11	NBIS
RDDT	0.25	-0.54	-0.28	0.24	-0.06		-0.34	0.24	RDDT
TME	0.5	0.24	-0.32	-0.55	0.68	-0.34		-0.46	TME
BIDU	-0.11	-0.5	0.02	0.81	0.11	0.24	-0.46		BIDU
	DASH	T	VZ	CMCSA	NBIS	RDDT	TME	BIDU

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

BIDU	+ 0.81	CMCSA
TME	+ 0.68	NBIS
VZ	+ 0.6	T
TME	+ 0.5	DASH
NBIS	+ 0.47	DASH
RDDT	+ 0.25	DASH

High negative correlations

TME	- 0.55	CMCSA
RDDT	- 0.54	T
BIDU	- 0.5	T
BIDU	- 0.46	TME
CMCSA	- 0.46	T
NBIS	- 0.45	VZ

Risk-Adjusted Indicators

There is a big difference between Spotify Stock performing well and Spotify Technology 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 Spotify Technology'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
DASH	2.03	(0.33)	0.00	1.83	0.00	0.00	4.00	(4.60)	19.23
T	0.96	0.04	0.01	0.21	1.04	(1.02)	1.85	(1.85)	3.77
VZ	0.97	0.22	0.14	2.51	0.94	(1.08)	2.10	(2.08)	5.34
CMCSA	1.44	0.12	0.05	0.31	1.78	(1.43)	2.92	(2.55)	7.92
NBIS	4.39	(0.45)	0.00	(0.18)	0.00	0.00	7.98	(8.24)	24.80
RDDT	3.08	(0.27)	0.00	(0.15)	0.00	0.00	6.11	(7.76)	21.40
TME	1.63	(0.49)	0.00	(1.57)	0.00	0.00	3.47	(4.93)	12.10
BIDU	2.29	0.25	0.09	0.33	2.42	(2.50)	6.07	(4.54)	18.81

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