Shutterstock Correlations

SSTK Stock

USD 19.43 0.56 2.80%

The current 90-days correlation between Shutterstock and EverQuote Class A is 0.06 (i.e., Significant 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

0.88	SLE	Super League Enterprise	Pair Corr
0.94	GETY	Getty Images Holdings	Pair Corr
0.92	AUTO	Auto Trader Group	Pair Corr
0.83	ATHM	Autohome	Pair Corr
0.85	BZFD	BuzzFeed	Pair Corr

Moving against Shutterstock Stock

0.8	PPERY	Bank Mandiri Persero Earnings Call This Week	Pair Corr
0.79	GOOG	Alphabet Class C Earnings Call This Week	Pair Corr
0.78	GOOGL	Alphabet Class A Earnings Call This Week	Pair Corr
0.76	EVER	EverQuote Class A	Pair Corr
0.39	SHO	Sportshero	Pair Corr
0.84	SMC	Summit Midstream	Pair Corr
0.7	WAL	Western Alliance Ban	Pair Corr
0.62	GALNF	Galenica AG	Pair Corr
0.6	WF	Woori Financial Group	Pair Corr
0.57	NXST	Nexstar Broadcasting	Pair Corr
0.52	DAR	Darling Ingredients	Pair Corr
0.5	LINC	Lincoln Educational	Pair Corr
0.49	CPPKF	Copperbank Resources Corp	Pair Corr
0.48	KB	KB Financial Group	Pair Corr
0.46	SMDRF	Sierra Madre Gold	Pair Corr
0.39	LUNR	Intuitive Machines Upward Rally	Pair Corr
0.37	SHG	Shinhan Financial	Pair Corr
0.35	GLASF	Glass House Brands	Pair Corr
0.7	GS	Goldman Sachs Group	Pair Corr
0.7	EGTIF	eGuarantee	Pair Corr

Related Correlations Analysis

	EVER	ATHM	GETY	FVRR	DLX	NXDR	GRPN	SMWB	MAX	ANGI
EVER		-0.72	-0.63	-0.15	0.41	0.26	-0.5	-0.22	0.63	-0.19	EVER
ATHM	-0.72		0.79	0.4	-0.45	-0.13	0.76	0.51	-0.18	0.26	ATHM
GETY	-0.63	0.79		0.74	-0.78	-0.23	0.81	0.82	0.1	0.12	GETY
FVRR	-0.15	0.4	0.74		-0.82	-0.13	0.7	0.92	0.54	-0.03	FVRR
DLX	0.41	-0.45	-0.78	-0.82		0.49	-0.68	-0.84	-0.29	0.27	DLX
NXDR	0.26	-0.13	-0.23	-0.13	0.49		-0.14	-0.19	0.09	0.67	NXDR
GRPN	-0.5	0.76	0.81	0.7	-0.68	-0.14		0.76	0.24	0.2	GRPN
SMWB	-0.22	0.51	0.82	0.92	-0.84	-0.19	0.76		0.5	-0.02	SMWB
MAX	0.63	-0.18	0.1	0.54	-0.29	0.09	0.24	0.5		-0.14	MAX
ANGI	-0.19	0.26	0.12	-0.03	0.27	0.67	0.2	-0.02	-0.14		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	+ 0.92	FVRR
SMWB	+ 0.82	GETY
GRPN	+ 0.81	GETY
GETY	+ 0.79	ATHM
GRPN	+ 0.76	ATHM
SMWB	+ 0.76	GRPN

High negative correlations

SMWB	- 0.84	DLX
DLX	- 0.82	FVRR
DLX	- 0.78	GETY
ATHM	- 0.72	EVER
GRPN	- 0.68	DLX
GETY	- 0.63	EVER

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	1.95	0.18	0.06	0.36	2.10	(2.01)	4.31	(3.84)	14.16
ATHM	1.33	(0.17)	0.00	(0.25)	0.00	0.00	2.84	(3.05)	7.71
GETY	2.44	(0.81)	0.00	(0.51)	0.00	0.00	5.51	(6.63)	18.86
FVRR	1.84	(0.51)	0.00	(0.36)	0.00	0.00	3.22	(4.82)	11.60
DLX	1.57	0.34	0.18	0.52	1.48	(1.85)	3.55	(2.39)	18.48
NXDR	3.09	(0.04)	0.01	0.05	3.72	(4.04)	8.06	(5.73)	40.31
GRPN	2.62	(0.52)	0.00	(0.29)	0.00	0.00	5.05	(6.87)	18.61
SMWB	2.38	(0.70)	0.00	(0.60)	0.00	0.00	3.90	(6.12)	15.47
MAX	1.96	(0.15)	0.00	(0.09)	0.00	0.00	4.25	(3.46)	17.70
ANGI	2.34	(0.11)	0.00	(0.04)	0.00	0.00	4.29	(4.24)	18.99

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