Bill Correlations

BILL Stock

USD 91.51 1.53 1.70%

The current 90-days correlation between Bill Com Holdings and Datadog is 0.02 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Bill moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Bill Com Holdings moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Bill Correlation With Market

Weak diversification

The correlation between Bill Com Holdings and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bill Com Holdings and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Bill Com Holdings. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with Bill Stock

0.88	DJCO	Daily Journal Corp	Pair Corr
0.77	AI	C3 Ai Inc Trending	Pair Corr
0.73	BL	Blackline	Pair Corr
0.64	DV	DoubleVerify Holdings	Pair Corr
0.75	EB	Eventbrite Class A	Pair Corr
0.84	KC	Kingsoft Cloud Holdings Trending	Pair Corr
0.97	ML	MoneyLion	Pair Corr
0.91	WK	Workiva	Pair Corr
0.89	ZM	Zoom Video Communications Earnings Call Today	Pair Corr
0.83	DOCU	DocuSign	Pair Corr
0.82	DOMO	Domo Inc Earnings Call This Week	Pair Corr
0.89	VERX	Vertex	Pair Corr
0.85	DSGX	Descartes Systems Earnings Call This Week	Pair Corr
0.62	DTRK	DATATRAK International	Pair Corr
0.67	DUOL	Duolingo	Pair Corr
0.7	DUOT	Duos Technologies Downward Rally	Pair Corr
0.84	VMEO	Vimeo Inc	Pair Corr
0.9	EGHT	8x8 Common Stock	Pair Corr
0.71	ENFN	Enfusion	Pair Corr
0.62	WDAY	Workday Earnings Call Tomorrow	Pair Corr

Moving against Bill Stock

0.69	VTEX	VTEX	Pair Corr
0.55	VERB	VERB TECHNOLOGY PANY Trending	Pair Corr
0.32	DMAN	Innovativ Media Group	Pair Corr
0.81	XELAP	Exela Technologies Earnings Call This Week	Pair Corr
0.78	BMR	Beamr Imaging	Pair Corr
0.62	SBIGW	SpringBig Holdings	Pair Corr
0.59	WRNT	Warrantee American	Pair Corr
0.57	ETWO	E2open Parent Holdings	Pair Corr
0.56	EVOL	Evolving Systems	Pair Corr
0.54	ELCO	Elcom International	Pair Corr
0.44	EZFL	EzFill Holdings	Pair Corr
0.32	WALDW	Waldencast Acquisition	Pair Corr

Related Correlations Analysis

	DDOG	ASAN	GTLB	TEAM	TTD	NOW	SNOW	U	MNDY	FROG
DDOG		0.46	0.66	0.78	0.85	0.8	0.83	0.52	0.55	0.76	DDOG
ASAN	0.46		0.41	0.66	0.4	0.43	0.63	-0.23	-0.01	0.34	ASAN
GTLB	0.66	0.41		0.87	0.75	0.86	0.7	0.31	0.29	0.83	GTLB
TEAM	0.78	0.66	0.87		0.86	0.91	0.73	0.22	0.35	0.8	TEAM
TTD	0.85	0.4	0.75	0.86		0.92	0.63	0.56	0.67	0.86	TTD
NOW	0.8	0.43	0.86	0.91	0.92		0.69	0.47	0.47	0.82	NOW
SNOW	0.83	0.63	0.7	0.73	0.63	0.69		0.31	0.17	0.63	SNOW
U	0.52	-0.23	0.31	0.22	0.56	0.47	0.31		0.65	0.53	U
MNDY	0.55	-0.01	0.29	0.35	0.67	0.47	0.17	0.65		0.57	MNDY
FROG	0.76	0.34	0.83	0.8	0.86	0.82	0.63	0.53	0.57		FROG
	DDOG	ASAN	GTLB	TEAM	TTD	NOW	SNOW	U	MNDY	FROG

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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

NOW	+ 0.92	TTD
NOW	+ 0.91	TEAM
TEAM	+ 0.87	GTLB
NOW	+ 0.86	GTLB
TTD	+ 0.86	TEAM
FROG	+ 0.86	TTD

High negative correlations

U	- 0.23	ASAN
MNDY	- 0.01	ASAN

Risk-Adjusted Indicators

There is a big difference between Bill Stock performing well and Bill 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 Bill'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
DDOG	1.68	0.34	0.18	0.47	1.59	(1.99)	4.39	(2.63)	8.50
ASAN	2.14	(0.02)	0.06	0.11	2.40	(2.36)	5.67	(4.94)	10.82
GTLB	2.25	0.39	0.22	0.33	1.83	(2.75)	5.93	(3.26)	26.58
TEAM	2.01	0.64	0.42	0.55	1.16	(2.75)	3.90	(2.40)	22.97
TTD	1.50	0.23	0.11	0.34	1.78	(1.64)	3.36	(3.12)	12.33
NOW	1.34	0.26	0.19	0.36	1.17	(1.64)	3.04	(2.24)	8.12
SNOW	2.09	0.40	0.24	0.32	1.62	(2.32)	4.20	(3.40)	8.92
U	3.33	0.32	0.13	0.27	3.29	(3.78)	8.52	(5.61)	17.78
MNDY	1.98	(0.04)	0.01	0.10	3.56	(1.94)	5.04	(3.23)	21.57
FROG	1.76	0.15	0.09	0.21	2.05	(1.77)	4.43	(3.72)	13.97

Bill Corporate Management

Rinki Sethi	VP Officer	Profile
Loren Padelford	Chief Officer	Profile
Steven Piaker	Independent Director	Profile
Kenneth Moss	Chief Officer	Profile
Brian Jacobs	Independent Director	Profile
Michael DeAngelo	Chief Officer	Profile
Thomas Clayton	Chief Revenue Office	Profile

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