Veritone Correlations

VERI Stock

USD 4.94 0.16 3.14%

The current 90-days correlation between Veritone and Lesaka Technologies is 0.2 (i.e., Modest diversification). The correlation of Veritone 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.

Veritone Correlation With Market

Weak diversification

The correlation between Veritone and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Veritone and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Veritone Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Veritone. 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 detail on how to invest in Veritone Stock please use our How to Invest in Veritone guide.

Moving together with Veritone Stock

0.73	RXT	Rackspace Technology	Pair Corr
0.62	SAP	SAP SE ADR	Pair Corr
0.74	CLSK	CleanSpark Aggressive Push	Pair Corr
0.74	HPQ	HP Inc	Pair Corr

Moving against Veritone Stock

0.49	EC	Ecopetrol SA ADR	Pair Corr
0.38	MGIC	Magic Software Enter	Pair Corr
0.72	TRV	The Travelers Companies	Pair Corr
0.51	JNJ	Johnson Johnson	Pair Corr
0.47	VZ	Verizon Communications	Pair Corr
0.45	KO	Coca Cola Sell-off Trend	Pair Corr
0.44	CSCO	Cisco Systems	Pair Corr
0.4	FTV	Fortive Corp	Pair Corr
0.34	CASXF	Casa Minerals	Pair Corr

Related Correlations Analysis

	LSAK	GRRR	RPAY	RXT	PDYN	REKR	BKKT	MVIS	DDD	RMNI
LSAK		-0.05	0.28	0.12	-0.07	-0.11	-0.07	0.03	0.0	0.24	LSAK
GRRR	-0.05		0.8	0.75	0.93	0.54	0.92	0.93	0.89	0.83	GRRR
RPAY	0.28	0.8		0.84	0.87	0.53	0.85	0.89	0.87	0.89	RPAY
RXT	0.12	0.75	0.84		0.83	0.79	0.78	0.8	0.88	0.74	RXT
PDYN	-0.07	0.93	0.87	0.83		0.64	0.98	0.96	0.94	0.8	PDYN
REKR	-0.11	0.54	0.53	0.79	0.64		0.59	0.53	0.75	0.46	REKR
BKKT	-0.07	0.92	0.85	0.78	0.98	0.59		0.96	0.93	0.79	BKKT
MVIS	0.03	0.93	0.89	0.8	0.96	0.53	0.96		0.9	0.84	MVIS
DDD	0.0	0.89	0.87	0.88	0.94	0.75	0.93	0.9		0.81	DDD
RMNI	0.24	0.83	0.89	0.74	0.8	0.46	0.79	0.84	0.81		RMNI
	LSAK	GRRR	RPAY	RXT	PDYN	REKR	BKKT	MVIS	DDD	RMNI

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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

BKKT	+ 0.98	PDYN
MVIS	+ 0.96	PDYN
MVIS	+ 0.96	BKKT
DDD	+ 0.94	PDYN
PDYN	+ 0.93	GRRR
MVIS	+ 0.93	GRRR

High negative correlations

REKR	- 0.11	LSAK
BKKT	- 0.07	LSAK
PDYN	- 0.07	LSAK
GRRR	- 0.05	LSAK
DDD	- 0.0	LSAK

Risk-Adjusted Indicators

There is a big difference between Veritone Stock performing well and Veritone 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 Veritone'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
LSAK	1.94	0.28	0.08	(3.01)	2.21	(2.21)	4.74	(4.06)	11.28
GRRR	3.51	(0.59)	0.00	(0.20)	0.00	0.00	9.43	(7.66)	21.87
RPAY	2.71	(0.62)	0.00	(0.26)	0.00	0.00	4.76	(6.73)	22.07
RXT	3.37	(0.54)	0.00	(0.18)	0.00	0.00	8.21	(6.00)	37.89
PDYN	4.28	(0.96)	0.00	(0.12)	0.00	0.00	10.02	(8.52)	25.43
REKR	4.36	(0.07)	0.00	0.04	4.41	(5.85)	9.70	(7.97)	32.89
BKKT	6.96	(1.27)	0.00	(0.14)	0.00	0.00	19.44	(13.07)	48.33
MVIS	3.33	(0.57)	0.00	(0.15)	0.00	0.00	6.38	(7.83)	21.67
DDD	3.98	(0.74)	0.00	(0.09)	0.00	0.00	7.61	(10.58)	38.44
RMNI	1.71	(0.39)	0.00	(0.17)	0.00	0.00	2.53	(4.63)	17.73

Veritone Corporate Management

Jonathan Gacek	General Unit	Profile
Sean King	Chief Commercial	Profile
John Newsom	Ex VP	Profile
Locke Truong	VP Monetization	Profile
Ben Ha	Sales Engineer	Profile

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