Digimarc Correlations

DMRC Stock

USD 32.47 0.29 0.89%

The current 90-days correlation between Digimarc and The Hackett Group is 0.15 (i.e., Average diversification). The correlation of Digimarc 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.

Digimarc Correlation With Market

Weak diversification

The correlation between Digimarc and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Digimarc and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Digimarc. 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.

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

Moving together with Digimarc Stock

0.85	FI	Fiserv,	Pair Corr
0.67	IT	Gartner	Pair Corr
0.72	SAIHW	SAIHEAT Limited Symbol Change	Pair Corr
0.68	WEBB	Web Global Holdings	Pair Corr
0.78	EXLS	ExlService Holdings	Pair Corr
0.75	FIS	Fidelity National	Pair Corr
0.7	PSN	Parsons Corp	Pair Corr
0.7	UIS	Unisys	Pair Corr
0.68	WIT	Wipro Limited ADR	Pair Corr
0.83	GDYN	Grid Dynamics Holdings Tech Boost	Pair Corr
0.79	GLOB	Globant SA	Pair Corr
0.65	JDZG	JIADE LIMITED Common	Pair Corr
0.62	JKHY	Jack Henry Associates	Pair Corr
0.81	LDOS	Leidos Holdings	Pair Corr

Moving against Digimarc Stock

0.78	GMM	Global Mofy Metaverse	Pair Corr
0.82	NTRP	NextTrip Symbol Change	Pair Corr
0.78	NOTE	FiscalNote Holdings	Pair Corr
0.58	NABL	N Able Inc	Pair Corr
0.52	WNS	WNS Holdings	Pair Corr
0.52	TRIRF	Triterras	Pair Corr
0.45	DTSTW	Data Storage	Pair Corr
0.42	INFY	Infosys Ltd ADR Sell-off Trend	Pair Corr
0.37	PSCO	ProtoSource	Pair Corr
0.34	IMCI	Infinite Group, Common	Pair Corr

Related Correlations Analysis

	CTG	HCKT	CSPI	NYAX	WNS	ASGN	TASK	PRFT
CTG		0.32	-0.09	0.75	-0.75	0.5	0.08	0.58	CTG
HCKT	0.32		0.05	0.29	0.15	0.6	0.72	0.32	HCKT
CSPI	-0.09	0.05		-0.37	0.37	0.04	0.3	-0.49	CSPI
NYAX	0.75	0.29	-0.37		-0.64	0.39	0.17	0.74	NYAX
WNS	-0.75	0.15	0.37	-0.64		-0.24	0.44	-0.54	WNS
ASGN	0.5	0.6	0.04	0.39	-0.24		0.28	0.33	ASGN
TASK	0.08	0.72	0.3	0.17	0.44	0.28		0.09	TASK
PRFT	0.58	0.32	-0.49	0.74	-0.54	0.33	0.09		PRFT
	CTG	HCKT	CSPI	NYAX	WNS	ASGN	TASK	PRFT

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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

NYAX	+ 0.75	CTG
PRFT	+ 0.74	NYAX
TASK	+ 0.72	HCKT
ASGN	+ 0.6	HCKT
PRFT	+ 0.58	CTG
ASGN	+ 0.5	CTG

High negative correlations

WNS	- 0.75	CTG
WNS	- 0.64	NYAX
PRFT	- 0.54	WNS
PRFT	- 0.49	CSPI
NYAX	- 0.37	CSPI
ASGN	- 0.24	WNS

Risk-Adjusted Indicators

There is a big difference between Digimarc Stock performing well and Digimarc 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 Digimarc'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
CTG	1.34	0.17	0.05	0.56	1.26	(1.72)	2.72	(2.11)	8.01
HCKT	1.35	0.12	0.21	0.23	0.77	(1.75)	2.61	(1.66)	19.06
CSPI	2.31	(0.42)	0.00	(0.47)	0.00	0.00	4.30	(4.81)	17.68
NYAX	2.37	0.09	0.04	0.23	2.70	(2.73)	5.78	(4.29)	15.42
WNS	1.55	(0.17)	0.00	(0.03)	0.00	0.00	2.95	(2.52)	13.98
ASGN	1.43	(0.12)	0.01	0.10	1.41	(1.70)	3.32	(2.47)	10.48
TASK	2.40	0.03	0.02	0.18	3.96	(2.65)	4.93	(4.67)	40.44
PRFT	0.10	0.02	(1.15)	(0.61)	0.00	(0.12)	0.23	(0.21)	0.58

Digimarc Corporate Management

Niall Murphy	Exec Officer	Profile
Ken Sickles	Executive Officer	Profile
Jill SPHR	Executive Officer	Profile
Carle Quinn	Executive Officer	Profile

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