Manhattan Associates Correlations

MANH Stock

USD 208.90 9.95 5.00%

The current 90-days correlation between Manhattan Associates and Bentley Systems is 0.17 (i.e., Average 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

Very weak diversification

The correlation between Manhattan Associates and DJI is 0.51 (i.e., Very weak 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 various price indices.

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

Moving against Manhattan Stock

0.42	SSNLF	Samsung Electronics	Pair Corr
0.4	SSVFF	Southern Silver Expl	Pair Corr
0.31	LLY	Eli Lilly	Pair Corr

Related Correlations Analysis

	BSY	TYL	BLKB	SSNC	PRGS	PCTY
BSY		0.31	-0.03	-0.71	0.76	0.69	BSY
TYL	0.31		0.0	-0.33	0.22	0.79	TYL
BLKB	-0.03	0.0		0.43	-0.19	0.1	BLKB
SSNC	-0.71	-0.33	0.43		-0.6	-0.51	SSNC
PRGS	0.76	0.22	-0.19	-0.6		0.58	PRGS
PCTY	0.69	0.79	0.1	-0.51	0.58		PCTY
	BSY	TYL	BLKB	SSNC	PRGS	PCTY

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

PCTY	+ 0.79	TYL
PRGS	+ 0.76	BSY
PCTY	+ 0.69	BSY
PCTY	+ 0.58	PRGS
SSNC	+ 0.43	BLKB
TYL	+ 0.31	BSY

High negative correlations

SSNC	- 0.71	BSY
PRGS	- 0.6	SSNC
PCTY	- 0.51	SSNC
SSNC	- 0.33	TYL
PRGS	- 0.19	BLKB
BLKB	- 0.03	BSY

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
BSY	1.19	(0.20)	0.00	(0.14)	0.00	0.00	2.32	(3.08)	14.36
TYL	1.26	(0.21)	0.00	(0.40)	0.00	0.00	2.90	(2.24)	9.67
BLKB	1.44	(0.16)	0.00	(0.04)	0.00	0.00	2.32	(3.17)	16.87
SSNC	0.71	0.02	0.01	0.10	0.78	(0.71)	1.77	(1.24)	4.08
PRGS	1.63	(0.32)	0.00	(0.11)	0.00	0.00	3.22	(3.01)	8.02
PCTY	1.29	(0.36)	0.00	(0.22)	0.00	0.00	2.41	(2.68)	7.48

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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