Shutterstock Correlations

SSTK Stock

USD 15.92 0.13 0.82%

The current 90-days correlation between Shutterstock and McGraw Hill is 0.31 (i.e., Weak 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

Very good diversification

The correlation between Shutterstock and DJI is -0.45 (i.e., Very 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 population.

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

Moving together with Shutterstock Stock

0.64	BZ	Kanzhun Ltd ADR	Pair Corr
0.71	2UA	Auto Trader Group	Pair Corr
0.62	WBTN	WEBTOON Entertainment Earnings Call This Week	Pair Corr
0.69	3ZD	ZOOMD TECHNOLOGIES LTD	Pair Corr
0.67	EVER	EverQuote Class A	Pair Corr
0.61	GTM	ZoomInfo Technologies Symbol Change	Pair Corr
0.64	IPM	Intelligent Protection	Pair Corr
0.62	MAX	MediaAlpha Upward Rally	Pair Corr
0.67	1SI	Snap Inc	Pair Corr
0.69	Y9L	Yelp Inc	Pair Corr

Moving against Shutterstock Stock

0.67	DHX	DHI Group	Pair Corr
0.58	LOCAL	Solocal Group SA	Pair Corr
0.44	EB	Eventbrite Class A Earnings Call Tomorrow	Pair Corr
0.31	MNY	MoneyHero Limited Class	Pair Corr

Related Correlations Analysis

	BZ	MH	SY	TC	WB	YQ	PU11	ABEA	1PX
BZ		0.9	-0.27	0.33	-0.15	0.7	-0.49	-0.03	0.83	BZ
MH	0.9		-0.23	0.33	-0.2	0.62	-0.58	-0.13	0.82	MH
SY	-0.27	-0.23		0.55	-0.45	0.18	0.33	-0.49	-0.02	SY
TC	0.33	0.33	0.55		-0.56	0.75	0.17	-0.32	0.67	TC
WB	-0.15	-0.2	-0.45	-0.56		-0.53	-0.29	0.72	-0.27	WB
YQ	0.7	0.62	0.18	0.75	-0.53		-0.08	-0.28	0.8	YQ
PU11	-0.49	-0.58	0.33	0.17	-0.29	-0.08		-0.08	-0.3	PU11
ABEA	-0.03	-0.13	-0.49	-0.32	0.72	-0.28	-0.08		-0.12	ABEA
1PX	0.83	0.82	-0.02	0.67	-0.27	0.8	-0.3	-0.12		1PX
	BZ	MH	SY	TC	WB	YQ	PU11	ABEA	1PX

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

MH	+ 0.9	BZ
1PX	+ 0.83	BZ
1PX	+ 0.82	MH
1PX	+ 0.8	YQ
YQ	+ 0.75	TC
ABEA	+ 0.72	WB

High negative correlations

PU11	- 0.58	MH
WB	- 0.56	TC
YQ	- 0.53	WB
ABEA	- 0.49	SY
PU11	- 0.49	BZ
WB	- 0.45	SY

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
BZ	1.67	(0.41)	0.00	(0.49)	0.00	0.00	3.03	(3.79)	11.97
MH	2.42	(0.34)	0.00	(0.28)	0.00	0.00	4.07	(4.78)	20.44
SY	3.29	(0.02)	(0.01)	0.06	4.68	(2.98)	7.04	(6.76)	21.31
TC	3.43	(0.37)	0.00	0.39	0.00	0.00	7.45	(9.74)	26.70
WB	1.25	(0.01)	(0.02)	0.07	1.35	(1.40)	3.02	(2.31)	9.22
YQ	3.89	(0.26)	0.00	0.22	0.00	0.00	7.01	(7.85)	27.50
PU11	28.69	9.97	0.40	(9.35)	15.97	(64.68)	40.00	(33.33)	432.35
ABEA	1.27	0.07	0.01	0.31	1.31	(1.45)	2.89	(2.46)	8.07
1PX	1.22	(0.32)	0.00	(1.64)	0.00	0.00	1.89	(3.12)	10.78

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