ASPEN TECHINC Correlations

YV0 Stock

232.00 4.00 1.75%

The current 90-days correlation between ASPEN TECHINC DL and Salesforce is 0.15 (i.e., Average diversification). The correlation of ASPEN TECHINC 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.

ASPEN TECHINC Correlation With Market

Average diversification

The correlation between ASPEN TECHINC DL and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ASPEN TECHINC DL and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to ASPEN TECHINC could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ASPEN TECHINC when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back ASPEN TECHINC - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling ASPEN TECHINC DL to buy it.

Moving together with ASPEN Stock

0.89	FOO	Salesforce Earnings Call This Week	Pair Corr
0.85	SAP	SAP SE	Pair Corr
0.76	NEM	Nemetschek AG ON	Pair Corr
0.81	0WKA	Workiva	Pair Corr
0.63	2Y7	Fastly Inc	Pair Corr
0.86	UN3	United Natural Foods	Pair Corr
0.77	EK7	AGRICUL BK CHINA	Pair Corr

Moving against ASPEN Stock

0.84	TG4	Oxurion NV	Pair Corr
0.63	BUU	DevEx Resources	Pair Corr
0.53	DBPD	Xtrackers ShortDAX	Pair Corr
0.32	RKET	Rocket Internet SE	Pair Corr

Related Correlations Analysis

	FOO	NEM	2TY	8SP	6NM	39O1	2DG	TLX	TM9	INVN
FOO		0.83	0.65	-0.82	-0.32	0.05	-0.88	-0.33	-0.08	0.88	FOO
NEM	0.83		0.59	-0.69	-0.15	0.3	-0.69	-0.43	-0.05	0.79	NEM
2TY	0.65	0.59		-0.64	-0.5	-0.14	-0.37	-0.03	-0.07	0.59	2TY
8SP	-0.82	-0.69	-0.64		0.6	0.25	0.69	0.38	0.27	-0.72	8SP
6NM	-0.32	-0.15	-0.5	0.6		0.5	0.09	0.19	0.14	-0.31	6NM
39O1	0.05	0.3	-0.14	0.25	0.5		0.03	-0.21	0.35	0.01	39O1
2DG	-0.88	-0.69	-0.37	0.69	0.09	0.03		0.26	0.22	-0.75	2DG
TLX	-0.33	-0.43	-0.03	0.38	0.19	-0.21	0.26		0.05	-0.26	TLX
TM9	-0.08	-0.05	-0.07	0.27	0.14	0.35	0.22	0.05		0.0	TM9
INVN	0.88	0.79	0.59	-0.72	-0.31	0.01	-0.75	-0.26	0.0		INVN
	FOO	NEM	2TY	8SP	6NM	39O1	2DG	TLX	TM9	INVN

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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

INVN	+ 0.88	FOO
NEM	+ 0.83	FOO
INVN	+ 0.79	NEM
2DG	+ 0.69	8SP
2TY	+ 0.65	FOO
6NM	+ 0.6	8SP

High negative correlations

2DG	- 0.88	FOO
8SP	- 0.82	FOO
INVN	- 0.75	2DG
INVN	- 0.72	8SP
2DG	- 0.69	NEM
8SP	- 0.69	NEM

Risk-Adjusted Indicators

There is a big difference between ASPEN Stock performing well and ASPEN TECHINC 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 ASPEN TECHINC'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
FOO	1.37	0.39	0.30	0.41	0.92	(1.61)	4.15	(2.26)	11.42
NEM	1.14	0.07	0.02	0.23	1.16	(1.43)	2.92	(1.67)	8.28
2TY	2.07	0.00	0.00	0.10	3.77	(2.31)	3.56	(2.97)	22.01
8SP	2.15	(0.05)	0.00	0.17	0.00	0.00	3.43	(4.74)	21.59
6NM	1.20	0.08	(0.02)	(0.14)	1.75	(1.29)	2.79	(2.69)	9.64
39O1	3.91	0.32	0.07	0.61	3.52	(5.55)	9.64	(5.38)	34.42
2DG	3.88	(1.67)	0.00	(16.40)	0.00	0.00	6.06	(8.57)	52.42
TLX	0.97	0.04	(0.06)	(0.87)	1.14	(1.11)	2.67	(1.64)	7.58
TM9	2.80	(0.01)	(0.02)	0.08	4.32	(3.01)	5.56	(6.43)	36.50
INVN	2.17	0.17	0.02	(0.67)	2.57	(2.55)	5.61	(4.98)	14.01

Be your own money manager

Our tools can tell you how much better you can do entering a position in ASPEN TECHINC without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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