Shutterstock Correlations

SSTK Stock

USD 18.69 0.41 2.15%

The current 90-days correlation between Shutterstock and EverQuote Class A is 0.13 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Shutterstock moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Shutterstock moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Shutterstock Correlation With Market

Good diversification

The correlation between Shutterstock and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Shutterstock and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Shutterstock Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Shutterstock. 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 Shutterstock Stock please use our How to buy in Shutterstock Stock guide.

Moving together with Shutterstock Stock

0.81	YQ	17 Education Technology	Pair Corr
0.79	IPM	Intelligent Protection Symbol Change	Pair Corr
0.81	AUTO	Auto Trader Group	Pair Corr
0.74	TRNR	Interactive Strength	Pair Corr

Moving against Shutterstock Stock

0.76	CARS	Cars Inc	Pair Corr
0.76	FTV	Fortive Corp	Pair Corr
0.75	LCDX	Caliber Imaging Diag	Pair Corr
0.74	JOYY	JOYY Inc Symbol Change	Pair Corr
0.73	ADAMI	New York Mortgage Symbol Change	Pair Corr
0.62	MCHB	Mechanics Bank Symbol Change	Pair Corr
0.62	CASXF	Casa Minerals	Pair Corr
0.61	DB	Deutsche Bank AG	Pair Corr
0.56	SMXWW	SMX Public Limited	Pair Corr
0.55	BRK-A	Berkshire Hathaway	Pair Corr
0.49	NAUFF	NevGold Corp	Pair Corr
0.45	DGWPF	Drgerwerk AG	Pair Corr

Related Correlations Analysis

	EVER	ATHM	GETY	FVRR	DLX	NXDR	GRPN	SMWB	MAX	ANGI
EVER		-0.82	-0.87	-0.71	0.79	0.1	-0.78	-0.77	0.85	-0.45	EVER
ATHM	-0.82		0.9	0.83	-0.65	0.07	0.9	0.87	-0.72	0.64	ATHM
GETY	-0.87	0.9		0.87	-0.74	-0.02	0.86	0.93	-0.69	0.57	GETY
FVRR	-0.71	0.83	0.87		-0.6	-0.02	0.83	0.87	-0.52	0.61	FVRR
DLX	0.79	-0.65	-0.74	-0.6		0.42	-0.64	-0.71	0.59	-0.17	DLX
NXDR	0.1	0.07	-0.02	-0.02	0.42		0.04	-0.08	0.02	0.63	NXDR
GRPN	-0.78	0.9	0.86	0.83	-0.64	0.04		0.87	-0.57	0.65	GRPN
SMWB	-0.77	0.87	0.93	0.87	-0.71	-0.08	0.87		-0.52	0.55	SMWB
MAX	0.85	-0.72	-0.69	-0.52	0.59	0.02	-0.57	-0.52		-0.37	MAX
ANGI	-0.45	0.64	0.57	0.61	-0.17	0.63	0.65	0.55	-0.37		ANGI
	EVER	ATHM	GETY	FVRR	DLX	NXDR	GRPN	SMWB	MAX	ANGI

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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

SMWB	+ 0.93	GETY
GETY	+ 0.9	ATHM
GRPN	+ 0.9	ATHM
SMWB	+ 0.87	ATHM
FVRR	+ 0.87	GETY
SMWB	+ 0.87	FVRR

High negative correlations

GETY	- 0.87	EVER
ATHM	- 0.82	EVER
GRPN	- 0.78	EVER
SMWB	- 0.77	EVER
DLX	- 0.74	GETY
MAX	- 0.72	ATHM

Risk-Adjusted Indicators

There is a big difference between Shutterstock Stock performing well and Shutterstock 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 Shutterstock'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
EVER	2.00	0.22	0.07	1.07	2.22	(2.08)	4.31	(3.88)	14.16
ATHM	1.36	(0.28)	0.00	(0.66)	0.00	0.00	2.17	(3.43)	7.71
GETY	3.23	(0.74)	0.00	18.85	0.00	0.00	6.00	(7.35)	22.29
FVRR	1.70	(0.33)	0.00	(0.57)	0.00	0.00	2.61	(3.43)	10.84
DLX	1.49	0.20	0.11	0.33	1.54	(1.79)	2.89	(2.39)	18.48
NXDR	3.14	0.12	0.01	(1.60)	3.76	(4.08)	8.06	(5.73)	40.31
GRPN	2.89	(0.37)	0.00	(1.84)	0.00	0.00	5.13	(7.67)	18.61
SMWB	2.38	(0.39)	0.00	(6.13)	0.00	0.00	3.90	(6.12)	14.34
MAX	2.14	0.06	0.02	0.15	2.44	(2.43)	6.39	(3.57)	17.70
ANGI	2.23	(0.34)	0.00	(1.78)	0.00	0.00	4.27	(5.38)	12.67

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