Salesforce Correlations

CRM Stock

USD 247.26 2.58 1.03%

The current 90-days correlation between Salesforce and Shopify Class A is 0.82 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Salesforce moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Salesforce moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Salesforce Correlation With Market

Poor diversification

The correlation between Salesforce and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Salesforce and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Salesforce Stock

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

To learn how to invest in Salesforce Stock, please use our How to Invest in Salesforce guide.

Moving together with Salesforce Stock

0.87	BL	Blackline	Pair Corr
0.85	DT	Dynatrace Holdings LLC	Pair Corr
0.89	DV	DoubleVerify Holdings	Pair Corr
0.74	PD	Pagerduty	Pair Corr
0.85	WK	Workiva	Pair Corr
0.91	ZM	Zoom Video Communications	Pair Corr
0.9	DOCU	DocuSign	Pair Corr
0.85	VERX	Vertex	Pair Corr
0.85	VERB	Verb Technology	Pair Corr
0.91	DSGX	Descartes Systems	Pair Corr
0.62	DUOL	Duolingo	Pair Corr
0.68	DUOT	Duos Technologies Tech Boost	Pair Corr
0.96	VMEO	Vimeo Inc Potential Growth	Pair Corr
0.87	VTEX	VTEX	Pair Corr
0.88	EGAN	eGain	Pair Corr
0.93	EGHT	8x8 Common Stock	Pair Corr
0.91	ELWS	Earlyworks Co,	Pair Corr
0.77	WALD	Waldencast Acquisition	Pair Corr
0.92	WBTN	WEBTOON Entertainment	Pair Corr
0.85	WDAY	Workday	Pair Corr
0.78	WFCF	Where Food Comes	Pair Corr
0.88	ESTC	Elastic NV	Pair Corr
0.95	ETWO	E2open Parent Holdings	Pair Corr
0.66	WALDW	Waldencast Acquisition	Pair Corr
0.76	EXFY	Expensify	Pair Corr
0.86	ANY	Sphere 3D Corp	Pair Corr
0.68	API	Agora Inc	Pair Corr
0.78	APP	Applovin Corp	Pair Corr
0.92	BMR	Beamr Imaging	Pair Corr
0.89	BSY	Bentley Systems Sell-off Trend	Pair Corr

Related Correlations Analysis

	ZM	AI	SHOP	WDAY	INTU	SNOW	TEAM	ADSK	NOW	TTD
ZM		0.89	0.88	0.82	0.08	0.89	0.84	0.91	0.8	0.79	ZM
AI	0.89		0.8	0.75	0.06	0.87	0.82	0.95	0.93	0.93	AI
SHOP	0.88	0.8		0.9	0.09	0.95	0.93	0.85	0.72	0.64	SHOP
WDAY	0.82	0.75	0.9		0.23	0.9	0.88	0.8	0.75	0.66	WDAY
INTU	0.08	0.06	0.09	0.23		0.1	-0.02	0.13	0.21	0.15	INTU
SNOW	0.89	0.87	0.95	0.9	0.1		0.95	0.9	0.83	0.75	SNOW
TEAM	0.84	0.82	0.93	0.88	-0.02	0.95		0.86	0.74	0.7	TEAM
ADSK	0.91	0.95	0.85	0.8	0.13	0.9	0.86		0.91	0.88	ADSK
NOW	0.8	0.93	0.72	0.75	0.21	0.83	0.74	0.91		0.93	NOW
TTD	0.79	0.93	0.64	0.66	0.15	0.75	0.7	0.88	0.93		TTD
	ZM	AI	SHOP	WDAY	INTU	SNOW	TEAM	ADSK	NOW	TTD

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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

ADSK	+ 0.95	AI
SNOW	+ 0.95	SHOP
TEAM	+ 0.95	SNOW
NOW	+ 0.93	AI
TTD	+ 0.93	AI
TEAM	+ 0.93	SHOP

High negative correlations

TEAM

- 0.02

INTU

Risk-Adjusted Indicators

There is a big difference between Salesforce Stock performing well and Salesforce 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 Salesforce'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
ZM	1.57	(0.01)	(0.14)	2.73	(3.30)	16.58
AI	3.15	(0.42)	(0.36)	4.81	(6.97)	20.27
SHOP	3.19	0.10	(0.08)	5.94	(6.56)	27.62
WDAY	1.82	(0.01)	(0.13)	2.97	(3.33)	12.84
INTU	1.66	0.07	(0.06)	3.01	(3.60)	18.76
SNOW	2.50	0.05	(0.09)	4.19	(6.70)	19.02
TEAM	2.79	(0.01)	(0.13)	4.74	(8.14)	26.36
ADSK	1.52	0.00	(0.12)	3.04	(3.03)	12.85
NOW	2.33	(0.20)	(0.26)	3.13	(6.06)	18.66
TTD	3.40	(0.87)	(0.61)	4.48	(8.96)	37.45

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