Cerence Correlations

CRNC Stock

USD 10.44 0.18 1.75%

The current 90-days correlation between Cerence and Plaza Retail REIT is 0.12 (i.e., Average diversification). The correlation of Cerence 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.

Cerence Correlation With Market

Weak diversification

The correlation between Cerence and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cerence and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Cerence Stock

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

For information on how to trade Cerence Stock refer to our How to Trade Cerence Stock guide.

Moving together with Cerence Stock

0.81	AI	C3 Ai Inc Earnings Call This Week	Pair Corr
0.66	ANY	Sphere 3D Corp	Pair Corr
0.67	ORCL	Oracle	Pair Corr
0.67	RIOT	Riot Blockchain Aggressive Push	Pair Corr
0.72	ATEN	A10 Network	Pair Corr
0.71	SVCO	Silvaco Group, Common	Pair Corr
0.62	GRAB	Grab Holdings	Pair Corr
0.61	NIO	Nio Class A	Pair Corr

Moving against Cerence Stock

0.68	300369	Nsfocus Information	Pair Corr
0.59	OS	OneStream, Class A	Pair Corr
0.55	600756	Inspur Software	Pair Corr
0.52	FROG	Jfrog	Pair Corr
0.51	TDC	Teradata Corp	Pair Corr
0.52	QLYS	Qualys Inc	Pair Corr
0.48	HOKCY	Hong Kong	Pair Corr
0.36	F	Ford Motor	Pair Corr
0.36	RIVN	Rivian Automotive Aggressive Push	Pair Corr

Related Correlations Analysis

	DYFWF	ROST	HTOCF	PAZRF	CUPUF	CASY	TSRYF	INREF
DYFWF		0.0	0.0	0.0	0.0	0.0	0.0	1.0	DYFWF
ROST	0.0		0.69	-0.69	-0.1	0.15	-0.79	0.0	ROST
HTOCF	0.0	0.69		-0.74	-0.12	0.32	-0.74	0.0	HTOCF
PAZRF	0.0	-0.69	-0.74		0.1	-0.26	0.71	0.0	PAZRF
CUPUF	0.0	-0.1	-0.12	0.1		0.46	0.34	0.0	CUPUF
CASY	0.0	0.15	0.32	-0.26	0.46		-0.01	0.0	CASY
TSRYF	0.0	-0.79	-0.74	0.71	0.34	-0.01		0.0	TSRYF
INREF	1.0	0.0	0.0	0.0	0.0	0.0	0.0		INREF
	DYFWF	ROST	HTOCF	PAZRF	CUPUF	CASY	TSRYF	INREF

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

INREF	+ 1.0	DYFWF
TSRYF	+ 0.71	PAZRF
HTOCF	+ 0.69	ROST
CASY	+ 0.46	CUPUF
TSRYF	+ 0.34	CUPUF
CASY	+ 0.32	HTOCF

High negative correlations

TSRYF	- 0.79	ROST
TSRYF	- 0.74	HTOCF
PAZRF	- 0.74	HTOCF
PAZRF	- 0.69	ROST
CASY	- 0.26	PAZRF
CUPUF	- 0.12	HTOCF

Risk-Adjusted Indicators

There is a big difference between Cerence Stock performing well and Cerence 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 Cerence'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
DYFWF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ROST	1.00	0.22	0.20	0.28	0.75	(1.09)	2.57	(1.47)	8.34
HTOCF	0.09	0.03	0.00	5.37	0.00	0.00	0.00	0.00	1.52
PAZRF	0.47	(0.04)	0.00	(0.96)	0.00	0.00	1.33	(1.97)	5.75
CUPUF	0.66	0.02	(0.03)	0.00	0.98	(1.83)	2.74	(2.23)	6.96
CASY	1.08	0.19	0.13	0.56	1.06	(1.27)	2.88	(2.09)	7.28
TSRYF	1.24	(0.27)	0.00	2.21	0.00	0.00	1.12	(5.33)	17.79
INREF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Cerence Corporate Management

Katherine Roman	Corporate VP	Profile
Dennis Close	VP Treasurer	Profile
Nils Lenke	VP Applications	Profile
Bridget Collins	Chief Officer	Profile
Daniel Tempesta	Chief Officer	Profile
Sachin Sahney	Chief Officer	Profile

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