FiscalNote Holdings Correlations

NOTE Stock

USD 0.52 0.01 1.89%

The current 90-days correlation between FiscalNote Holdings and Innodata is 0.41 (i.e., Very weak diversification). The correlation of FiscalNote Holdings 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.

FiscalNote Holdings Correlation With Market

Modest diversification

The correlation between FiscalNote Holdings and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding FiscalNote Holdings and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with FiscalNote Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in FiscalNote Holdings. 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 information on how to trade FiscalNote Stock refer to our How to Trade FiscalNote Stock guide.

Moving together with FiscalNote Stock

0.66	FI	Fiserv,	Pair Corr
0.62	JZ	Jianzhi Education Tech Boost	Pair Corr
0.9	VNET	VNET Group DRC	Pair Corr
0.71	DXC	DXC Technology	Pair Corr
0.87	GMM	Global Mofy Metaverse	Pair Corr
0.68	WIT	Wipro Limited ADR	Pair Corr
0.9	GDYN	Grid Dynamics Holdings	Pair Corr
0.63	GLOB	Globant SA	Pair Corr
0.84	HCKT	Hackett Group	Pair Corr

Moving against FiscalNote Stock

0.74	PSN	Parsons Corp	Pair Corr
0.66	VRRM	Verra Mobility Corp	Pair Corr
0.59	GIB	CGI Inc	Pair Corr
0.55	FIS	Fidelity National	Pair Corr
0.33	VEEA	Veea Inc Symbol Change	Pair Corr
0.58	LDOS	Leidos Holdings	Pair Corr
0.44	MGIC	Magic Software Enter	Pair Corr
0.37	LZMH	LZ Technology Holdings	Pair Corr
0.33	SAIC	Science Applications	Pair Corr

Related Correlations Analysis

	INOD	IBM	AUR	CYXT	ALYA	BBAI	CTG	GDYN	CLPS	ARBB
INOD		0.48	0.1	0.0	0.0	0.52	0.0	0.18	0.17	-0.35	INOD
IBM	0.48		-0.23	0.0	0.0	0.74	0.0	-0.35	-0.37	-0.66	IBM
AUR	0.1	-0.23		0.0	0.0	-0.12	0.0	0.64	0.41	0.5	AUR
CYXT	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	CYXT
ALYA	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	ALYA
BBAI	0.52	0.74	-0.12	0.0	0.0		0.0	-0.3	-0.38	-0.63	BBAI
CTG	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	CTG
GDYN	0.18	-0.35	0.64	0.0	0.0	-0.3	0.0		0.9	0.65	GDYN
CLPS	0.17	-0.37	0.41	0.0	0.0	-0.38	0.0	0.9		0.61	CLPS
ARBB	-0.35	-0.66	0.5	0.0	0.0	-0.63	0.0	0.65	0.61		ARBB
	INOD	IBM	AUR	CYXT	ALYA	BBAI	CTG	GDYN	CLPS	ARBB

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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

CLPS	+ 0.9	GDYN
BBAI	+ 0.74	IBM
ARBB	+ 0.65	GDYN
GDYN	+ 0.64	AUR
ARBB	+ 0.61	CLPS
BBAI	+ 0.52	INOD

High negative correlations

ARBB	- 0.66	IBM
ARBB	- 0.63	BBAI
CLPS	- 0.38	BBAI
CLPS	- 0.37	IBM
GDYN	- 0.35	IBM
ARBB	- 0.35	INOD

Risk-Adjusted Indicators

There is a big difference between FiscalNote Stock performing well and FiscalNote Holdings 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 FiscalNote Holdings' 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
INOD	4.99	(0.15)	0.00	(0.03)	0.00	0.00	11.68	(10.17)	31.43
IBM	1.46	0.15	0.06	0.21	2.10	(1.38)	2.46	(2.60)	13.04
AUR	4.22	(0.14)	0.00	(0.02)	0.00	0.00	8.93	(9.07)	26.01
CYXT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ALYA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BBAI	5.42	0.37	0.07	0.22	5.43	(6.62)	16.54	(9.12)	34.85
CTG	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
GDYN	2.33	(0.57)	0.00	(0.34)	0.00	0.00	4.74	(5.32)	20.42
CLPS	2.95	(0.39)	0.00	(0.40)	0.00	0.00	6.90	(5.71)	20.93
ARBB	5.93	(0.45)	0.00	(8.56)	0.00	0.00	13.99	(13.10)	65.00

FiscalNote Holdings Corporate Management

Sara Buda	Vice Relations	Profile
Dominique Taylor	Senior People	Profile
Nicholas Graham	Vice Affairs	Profile
Richard Henderson	Chief Officer	Profile
Taryn McKinnon	Vice Marketing	Profile
Frank Musso	Chief Officer	Profile

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