Shotspotter Correlations

SSTI Stock

USD 13.57 0.49 3.75%

The current 90-days correlation between Shotspotter and Enfusion is 0.17 (i.e., Average diversification). The correlation of Shotspotter 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.

Shotspotter Correlation With Market

Weak diversification

The correlation between Shotspotter and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Shotspotter 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 Shotspotter. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

For more detail on how to invest in Shotspotter Stock please use our How to Invest in Shotspotter guide.

Moving together with Shotspotter Stock

0.67	VCSA	Vacasa Inc Upward Rally	Pair Corr
0.65	VERB	VERB TECHNOLOGY PANY Trending	Pair Corr
0.78	EGAN	eGain	Pair Corr
0.64	WBTN	WEBTOON Entertainment	Pair Corr

Moving against Shotspotter Stock

0.8	QH	Quhuo	Pair Corr
0.72	DT	Dynatrace Holdings LLC	Pair Corr
0.7	DUOL	Duolingo	Pair Corr
0.61	DUOT	Duos Technologies Upward Rally	Pair Corr
0.56	U	Unity Software Aggressive Push	Pair Corr
0.55	BL	Blackline	Pair Corr
0.51	DOCU	DocuSign Sell-off Trend	Pair Corr
0.42	DSGX	Descartes Systems Earnings Call This Week	Pair Corr
0.39	VERX	Vertex	Pair Corr
0.34	ZI	ZoomInfo Technologies	Pair Corr
0.51	ENFN	Enfusion	Pair Corr
0.51	FICO	Fair Isaac	Pair Corr
0.5	CRM	Salesforce Earnings Call Tomorrow	Pair Corr
0.46	API	Agora Inc	Pair Corr
0.42	DIDIY	Didi Global ADR	Pair Corr
0.38	APP	Applovin Corp	Pair Corr
0.31	EGHT	8x8 Common Stock Tech Boost	Pair Corr

Related Correlations Analysis

	MODN	ENFN	ONTF	PYCR	PWSC	RSSS	RAYT	PCYG	IDXAF	ISDR
MODN		0.62	-0.03	0.27	0.66	0.03	0.0	0.55	0.64	-0.2	MODN
ENFN	0.62		0.44	0.64	0.8	0.5	0.0	0.65	0.41	-0.31	ENFN
ONTF	-0.03	0.44		0.63	0.41	0.39	0.0	0.37	-0.27	-0.3	ONTF
PYCR	0.27	0.64	0.63		0.71	0.49	0.0	0.61	0.11	-0.46	PYCR
PWSC	0.66	0.8	0.41	0.71		0.29	0.0	0.92	0.51	-0.44	PWSC
RSSS	0.03	0.5	0.39	0.49	0.29		0.0	0.12	-0.08	-0.22	RSSS
RAYT	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	RAYT
PCYG	0.55	0.65	0.37	0.61	0.92	0.12	0.0		0.35	-0.53	PCYG
IDXAF	0.64	0.41	-0.27	0.11	0.51	-0.08	0.0	0.35		0.13	IDXAF
ISDR	-0.2	-0.31	-0.3	-0.46	-0.44	-0.22	0.0	-0.53	0.13		ISDR
	MODN	ENFN	ONTF	PYCR	PWSC	RSSS	RAYT	PCYG	IDXAF	ISDR

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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

PCYG	+ 0.92	PWSC
PWSC	+ 0.8	ENFN
PWSC	+ 0.71	PYCR
PWSC	+ 0.66	MODN
PCYG	+ 0.65	ENFN
IDXAF	+ 0.64	MODN

High negative correlations

ISDR	- 0.53	PCYG
ISDR	- 0.46	PYCR
ISDR	- 0.44	PWSC
ISDR	- 0.31	ENFN
ISDR	- 0.3	ONTF
IDXAF	- 0.27	ONTF

Risk-Adjusted Indicators

There is a big difference between Shotspotter Stock performing well and Shotspotter 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 Shotspotter'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
MODN	0.50	0.12	0.05	0.45	0.29	(0.69)	1.01	(0.50)	10.58
ENFN	1.62	0.16	0.11	0.26	1.55	(1.98)	3.93	(2.90)	10.11
ONTF	1.59	(0.15)	(0.03)	0.03	1.91	(1.76)	3.04	(2.86)	11.19
PYCR	1.51	0.22	0.14	0.28	1.42	(1.62)	3.12	(2.96)	9.64
PWSC	0.08	0.02	(0.72)	2.31	0.00	(0.11)	0.18	(0.13)	0.71
RSSS	1.72	0.21	0.08	0.42	1.65	(2.33)	4.60	(3.35)	8.98
RAYT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PCYG	1.97	0.71	0.22	(1.35)	1.80	(2.38)	5.27	(3.23)	13.21
IDXAF	3.36	2.27	0.00	(0.35)	0.00	0.00	0.00	0.00	112.50
ISDR	2.80	(0.07)	0.00	0.07	2.86	(3.31)	8.57	(4.71)	19.72

Shotspotter Corporate Executives

Elected by the shareholders, the Shotspotter's board of directors comprises two types of representatives: Shotspotter inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Shotspotter. The board's role is to monitor Shotspotter's management team and ensure that shareholders' interests are well served. Shotspotter's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Shotspotter's outside directors are responsible for providing unbiased perspectives on the board's policies.

Robert Calhoun	Co-Founder	Profile
Robert Showen	Founder, Chief Scientist	Profile
Jason Dunham	Co-Founder	Profile

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