Mitek Systems Correlations

MITK Stock

USD 9.44 0.08 0.84%

The current 90-days correlation between Mitek Systems and Nerdy Inc is 0.1 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Mitek Systems moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Mitek Systems moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Mitek Systems Correlation With Market

Weak diversification

The correlation between Mitek Systems and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mitek Systems and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Mitek Stock

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

For more information on how to buy Mitek Stock please use our How to buy in Mitek Stock guide.

Moving together with Mitek Stock

0.73	DJCO	Daily Journal Corp	Pair Corr
0.75	AI	C3 Ai Inc	Pair Corr
0.95	BL	Blackline	Pair Corr
0.93	DT	Dynatrace Holdings LLC	Pair Corr
0.86	DV	DoubleVerify Holdings	Pair Corr
0.81	EB	Eventbrite Class A	Pair Corr
0.79	DOMO	Domo Inc Upward Rally	Pair Corr
0.78	VERB	Verb Technology	Pair Corr
0.78	DUOT	Duos Technologies	Pair Corr
0.92	VTEX	VTEX Downward Rally	Pair Corr
0.77	EGAN	eGain	Pair Corr
0.87	ETWO	E2open Parent Holdings	Pair Corr
0.84	API	Agora Inc	Pair Corr
0.83	APP	Applovin Corp	Pair Corr

Moving against Mitek Stock

0.63	QH	Quhuo Tech Boost	Pair Corr
0.41	VERX	Vertex	Pair Corr
0.72	WETO	Webus International Tech Boost	Pair Corr
0.71	EXFY	Expensify	Pair Corr
0.69	VMEO	Vimeo Inc	Pair Corr
0.63	WALDW	Waldencast Acquisition	Pair Corr
0.56	EPWK	EPWK Holdings	Pair Corr
0.46	WFCF	Where Food Comes	Pair Corr
0.4	WALD	Waldencast Acquisition	Pair Corr
0.58	FRGT	Freight Technologies	Pair Corr

Related Correlations Analysis

	NRDY	LTCH	DCBO	GWRE	GDDY	ATEN	CEVA	ALRM	VERI
NRDY		0.0	-0.21	0.47	0.5	0.31	-0.22	0.72	-0.31	NRDY
LTCH	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	LTCH
DCBO	-0.21	0.0		-0.43	-0.11	-0.29	0.8	-0.67	0.59	DCBO
GWRE	0.47	0.0	-0.43		-0.03	0.71	-0.42	0.64	-0.76	GWRE
GDDY	0.5	0.0	-0.11	-0.03		-0.1	-0.04	0.44	0.03	GDDY
ATEN	0.31	0.0	-0.29	0.71	-0.1		-0.29	0.63	-0.73	ATEN
CEVA	-0.22	0.0	0.8	-0.42	-0.04	-0.29		-0.58	0.57	CEVA
ALRM	0.72	0.0	-0.67	0.64	0.44	0.63	-0.58		-0.63	ALRM
VERI	-0.31	0.0	0.59	-0.76	0.03	-0.73	0.57	-0.63		VERI
	NRDY	LTCH	DCBO	GWRE	GDDY	ATEN	CEVA	ALRM	VERI

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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

CEVA	+ 0.8	DCBO
ALRM	+ 0.72	NRDY
ATEN	+ 0.71	GWRE
ALRM	+ 0.64	GWRE
ALRM	+ 0.63	ATEN
VERI	+ 0.59	DCBO

High negative correlations

VERI	- 0.76	GWRE
VERI	- 0.73	ATEN
ALRM	- 0.67	DCBO
VERI	- 0.63	ALRM
ALRM	- 0.58	CEVA
GWRE	- 0.43	DCBO

Risk-Adjusted Indicators

There is a big difference between Mitek Stock performing well and Mitek Systems 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 Mitek Systems' 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
NRDY	2.40	(0.15)	(0.01)	0.05	2.85	(2.68)	4.61	(4.71)	18.53
LTCH	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DCBO	1.67	(0.08)	(0.02)	0.06	3.44	(1.64)	3.21	(2.42)	22.92
GWRE	1.24	0.16	0.07	0.43	1.25	(1.36)	2.70	(2.21)	20.07
GDDY	1.18	(0.11)	0.00	(0.03)	0.00	0.00	2.42	(2.48)	12.96
ATEN	1.29	0.15	0.08	0.31	1.49	(1.39)	2.64	(2.46)	7.63
CEVA	2.38	(0.12)	(0.02)	0.05	3.98	(2.78)	5.50	(4.02)	28.76
ALRM	1.32	(0.05)	(0.01)	0.09	1.32	(1.52)	2.49	(2.10)	10.28
VERI	4.35	0.00	0.02	0.13	4.73	(5.20)	11.11	(8.77)	24.84

Mitek Systems Corporate Management

Jason JD	Chief Officer	Profile
Scott Marcus	G Counsel	Profile
David Lyle	Chief Officer	Profile
Michael Diamond	Chief Revenue Officer	Profile
Stephen Ritter	Chief Officer	Profile

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