Endava Correlations

DAVA Stock

USD 19.12 0.35 1.86%

The correlation of Endava 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.

Endava Correlation With Market

Poor diversification

The correlation between Endava and DJI is 0.7 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Endava and DJI in the same portfolio, assuming nothing else is changed.

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

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

Moving together with Endava Stock

0.97	S	SentinelOne	Pair Corr
0.96	AI	C3 Ai Inc	Pair Corr
0.89	BB	BlackBerry Aggressive Push	Pair Corr
0.71	JG	Aurora Mobile	Pair Corr
0.86	DOCN	DigitalOcean Holdings Earnings Call Today	Pair Corr
0.93	VERI	Veritone	Pair Corr
0.89	DVLT	Datavault AI Symbol Change	Pair Corr
0.97	VRAR	Glimpse Group	Pair Corr
0.9	VRNT	Verint Systems	Pair Corr
0.81	FAAS	DigiAsia Corp	Pair Corr
0.92	FIVN	Five9 Inc	Pair Corr
0.77	FAASW	DigiAsia Corp	Pair Corr
0.96	FLYW	Flywire Corp Buyout Trend	Pair Corr
0.68	FMTO	Femto Technologies Symbol Change	Pair Corr
0.93	BOX	Box Inc	Pair Corr
0.76	DBX	Dropbox	Pair Corr
0.89	DLO	Dlocal Earnings Call This Week	Pair Corr
0.64	GEN	Gen Digital Buyout Trend	Pair Corr
0.66	FTNT	Fortinet	Pair Corr
0.92	IOT	Samsara	Pair Corr
0.91	MDB	MongoDB	Pair Corr
0.9	NET	Cloudflare	Pair Corr
0.8	LIDRW	AEye Inc	Pair Corr
0.96	RPD	Rapid7 Inc	Pair Corr
0.94	RXT	Rackspace Technology	Pair Corr

Moving against Endava Stock

0.88	GB	Global Blue Group	Pair Corr
0.7	VRSN	VeriSign	Pair Corr
0.37	MQ	Marqeta Potential Growth	Pair Corr
0.91	SWI	SolarWinds Corp	Pair Corr
0.51	XNET	Xunlei Ltd Adr	Pair Corr

Related Correlations Analysis

	PAGS	NTNX	SPLK	VMW	NEWR	BOX	DLO	STNE	EGIO	OKTA
PAGS		-0.15	0.0	0.0	0.0	-0.37	-0.29	0.95	0.0	0.34	PAGS
NTNX	-0.15		0.0	0.0	0.0	0.53	0.36	-0.25	0.0	0.35	NTNX
SPLK	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	SPLK
VMW	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	VMW
NEWR	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	NEWR
BOX	-0.37	0.53	0.0	0.0	0.0		0.87	-0.55	0.0	-0.3	BOX
DLO	-0.29	0.36	0.0	0.0	0.0	0.87		-0.49	0.0	-0.5	DLO
STNE	0.95	-0.25	0.0	0.0	0.0	-0.55	-0.49		0.0	0.37	STNE
EGIO	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	EGIO
OKTA	0.34	0.35	0.0	0.0	0.0	-0.3	-0.5	0.37	0.0		OKTA
	PAGS	NTNX	SPLK	VMW	NEWR	BOX	DLO	STNE	EGIO	OKTA

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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

STNE	+ 0.95	PAGS
DLO	+ 0.87	BOX
BOX	+ 0.53	NTNX
OKTA	+ 0.37	STNE
DLO	+ 0.36	NTNX
OKTA	+ 0.35	NTNX

High negative correlations

STNE	- 0.55	BOX
OKTA	- 0.5	DLO
STNE	- 0.49	DLO
BOX	- 0.37	PAGS
OKTA	- 0.3	BOX
DLO	- 0.29	PAGS

Risk-Adjusted Indicators

There is a big difference between Endava Stock performing well and Endava 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 Endava'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
PAGS	2.59	0.59	0.20	0.41	2.41	(2.94)	7.54	(3.94)	15.40
NTNX	2.51	0.35	0.07	0.10	3.53	(2.67)	4.12	(7.44)	20.06
SPLK	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
VMW	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NEWR	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BOX	1.17	(0.04)	0.00	(0.17)	0.00	0.00	2.06	(2.37)	7.77
DLO	2.82	(0.34)	0.00	(0.47)	0.00	0.00	4.74	(5.03)	39.00
STNE	2.50	0.75	0.33	0.72	2.03	(3.39)	6.15	(4.02)	22.64
EGIO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
OKTA	2.58	0.58	0.18	0.35	2.70	(2.91)	7.39	(4.85)	32.58

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