Manhattan Associates Correlations

MANH Stock

USD 183.91 1.08 0.59%

The current 90-days correlation between Manhattan Associates and Blackbaud is 0.01 (i.e., Significant diversification). The correlation of Manhattan Associates 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.

Manhattan Associates Correlation With Market

Good diversification

The correlation between Manhattan Associates and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Manhattan Associates and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Manhattan Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Manhattan Associates. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

For more detail on how to invest in Manhattan Stock please use our How to Invest in Manhattan Associates guide.

Moving together with Manhattan Stock

0.77	BL	Blackline	Pair Corr
0.74	DT	Dynatrace Holdings LLC	Pair Corr
0.69	DV	DoubleVerify Holdings	Pair Corr
0.63	WK	Workiva	Pair Corr
0.89	ZM	Zoom Video Communications	Pair Corr
0.73	DMRC	Digimarc	Pair Corr
0.81	DOCU	DocuSign	Pair Corr
0.66	VERX	Vertex	Pair Corr
0.73	VERB	Verb Technology	Pair Corr
0.79	DSGX	Descartes Systems	Pair Corr
0.75	DUOT	Duos Technologies Earnings Call This Week	Pair Corr
0.69	VMEO	Vimeo Inc	Pair Corr
0.75	VTEX	VTEX	Pair Corr
0.72	EGAN	eGain	Pair Corr
0.65	EGHT	8x8 Common Stock	Pair Corr
0.73	ELWS	Earlyworks Co,	Pair Corr
0.82	WDAY	Workday	Pair Corr
0.7	ESTC	Elastic NV	Pair Corr
0.79	ETWO	E2open Parent Holdings	Pair Corr
0.62	EXFY	Expensify	Pair Corr
0.79	ANY	Sphere 3D Corp Earnings Call This Week	Pair Corr
0.72	APP	Applovin Corp Buyout Trend	Pair Corr
0.87	BMR	Beamr Imaging	Pair Corr
0.75	BSY	Bentley Systems	Pair Corr
0.8	CRM	Salesforce	Pair Corr

Moving against Manhattan Stock

0.4	ML	MoneyLion	Pair Corr
0.33	VCSA	Vacasa Inc	Pair Corr

Related Correlations Analysis

	BLKB	BSY	PCTY	ANSS	BL	AZPN	DV	ROP	GWRE	CDAY
BLKB		0.69	0.82	0.73	0.83	-0.61	0.84	0.32	0.61	0.0	BLKB
BSY	0.69		0.81	0.73	0.56	-0.53	0.81	0.27	0.78	0.0	BSY
PCTY	0.82	0.81		0.86	0.67	-0.71	0.89	0.39	0.73	0.0	PCTY
ANSS	0.73	0.73	0.86		0.77	-0.69	0.77	0.52	0.73	0.0	ANSS
BL	0.83	0.56	0.67	0.77		-0.47	0.66	0.37	0.62	0.0	BL
AZPN	-0.61	-0.53	-0.71	-0.69	-0.47		-0.72	-0.46	-0.24	0.0	AZPN
DV	0.84	0.81	0.89	0.77	0.66	-0.72		0.34	0.62	0.0	DV
ROP	0.32	0.27	0.39	0.52	0.37	-0.46	0.34		0.11	0.0	ROP
GWRE	0.61	0.78	0.73	0.73	0.62	-0.24	0.62	0.11		0.0	GWRE
CDAY	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		CDAY
	BLKB	BSY	PCTY	ANSS	BL	AZPN	DV	ROP	GWRE	CDAY

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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

DV	+ 0.89	PCTY
ANSS	+ 0.86	PCTY
DV	+ 0.84	BLKB
BL	+ 0.83	BLKB
PCTY	+ 0.82	BLKB
PCTY	+ 0.81	BSY

High negative correlations

DV	- 0.72	AZPN
AZPN	- 0.71	PCTY
AZPN	- 0.69	ANSS
AZPN	- 0.61	BLKB
AZPN	- 0.53	BSY
AZPN	- 0.47	BL

Risk-Adjusted Indicators

There is a big difference between Manhattan Stock performing well and Manhattan Associates 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 Manhattan Associates' 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
BLKB	1.58	(0.24)	0.00	(0.58)	0.00	0.00	2.18	(3.44)	13.34
BSY	1.61	0.02	0.07	(0.46)	1.78	(1.76)	2.92	(2.44)	10.95
PCTY	1.64	0.00	0.00	(0.11)	0.00	0.00	2.38	(3.52)	12.33
ANSS	1.19	0.06	0.00	(0.05)	0.00	0.00	2.51	(2.34)	13.01
BL	1.77	(0.13)	0.00	(0.23)	0.00	0.00	4.52	(3.20)	19.73
AZPN	0.51	0.07	0.23	(2.63)	0.65	(0.59)	1.12	(0.87)	6.87
DV	2.60	(0.40)	0.00	(0.61)	0.00	0.00	3.94	(4.65)	38.99
ROP	1.13	(0.03)	0.06	0.01	1.90	(0.99)	1.92	(2.51)	9.88
GWRE	1.86	0.12	0.04	0.00	2.54	(1.93)	3.55	(4.30)	13.55
CDAY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Manhattan Associates Corporate Management

Bruce Richards	Chief Legal Officer, Sr. VP and Secretary	Profile
Ann Ruckstuhl	Senior Officer	Profile
Henri Seroux	Senior EMEA	Profile
Suzanne Hough	Senior Officer	Profile

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