Snap Correlations

SNAP Stock

USD 8.30 0.45 5.73%

The current 90-days correlation between Snap Inc and Twilio Inc is -0.22 (i.e., Very good diversification). The correlation of Snap 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Snap Correlation With Market

Good diversification

The correlation between Snap Inc and DJI is -0.16 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Snap Inc and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Snap Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Snap Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Snap Stock

0.92	EB	Eventbrite Class A	Pair Corr
0.92	OB	Outbrain	Pair Corr
0.62	WB	Weibo Corp	Pair Corr
0.83	DOYU	DouYu International	Pair Corr
0.86	WBTN	WEBTOON Entertainment	Pair Corr
0.68	FENG	Phoenix New Media	Pair Corr
0.82	DJT	Trump Media Technology Trending	Pair Corr
0.85	FVRR	Fiverr International	Pair Corr
0.89	MAX	MediaAlpha Earnings Call This Week	Pair Corr
0.92	MNY	MoneyHero Limited Class	Pair Corr
0.94	SLE	Super League Enterprise	Pair Corr
0.89	GETY	Getty Images Holdings	Pair Corr
0.9	GOOG	Alphabet Class C Earnings Call Today	Pair Corr
0.77	YELP	Yelp Inc	Pair Corr
0.73	MNYWW	MoneyHero Limited	Pair Corr
0.9	ZDGE	Zedge Inc	Pair Corr
0.8	SEATW	Vivid Seats Warrant	Pair Corr
0.93	IZEA	IZEA Inc	Pair Corr
0.91	KIND	Nextdoor Holdings	Pair Corr
0.93	LCFY	Locafy	Pair Corr
0.85	BZFDW	BuzzFeed	Pair Corr
0.9	META	Meta Platforms Earnings Call This Week	Pair Corr
0.8	MOMO	Hello Group	Pair Corr
0.9	MTCH	Match Group Sell-off Trend	Pair Corr

Moving against Snap Stock

0.79	GRPN	Groupon	Pair Corr
0.76	GIFT	RDE, Inc Symbol Change	Pair Corr
0.38	GENI	Genius Sports	Pair Corr
0.37	EVER	EverQuote Class A	Pair Corr
0.33	TME	Tencent Music Entert	Pair Corr
0.77	AREN	Arena Group Holdings Trending	Pair Corr
0.59	JFIN	Jiayin Group	Pair Corr

Related Correlations Analysis

	TWLO	FVRR	SPOT	BIDU	PINS	GOOGL	META	GOOG
TWLO		0.78	0.34	0.26	0.73	0.88	0.91	0.88	TWLO
FVRR	0.78		0.15	0.08	0.6	0.9	0.75	0.9	FVRR
SPOT	0.34	0.15		0.36	0.55	0.08	0.48	0.08	SPOT
BIDU	0.26	0.08	0.36		0.47	0.14	0.37	0.14	BIDU
PINS	0.73	0.6	0.55	0.47		0.61	0.92	0.61	PINS
GOOGL	0.88	0.9	0.08	0.14	0.61		0.81	1.0	GOOGL
META	0.91	0.75	0.48	0.37	0.92	0.81		0.81	META
GOOG	0.88	0.9	0.08	0.14	0.61	1.0	0.81		GOOG
	TWLO	FVRR	SPOT	BIDU	PINS	GOOGL	META	GOOG

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Risk-Adjusted Indicators

There is a big difference between Snap Stock performing well and Snap 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 Snap'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
TWLO	3.01	(0.04)	0.00	(0.16)	0.00	0.00	4.29	(7.08)	35.14
FVRR	2.64	(0.37)	0.00	(1.68)	0.00	0.00	4.83	(6.69)	13.39
SPOT	2.58	0.54	0.13	0.27	3.53	(2.60)	5.65	(6.42)	23.11
BIDU	2.66	0.24	0.08	0.15	3.39	(2.57)	5.43	(4.70)	17.21
PINS	2.72	0.04	0.00	(0.11)	0.00	0.00	5.04	(6.46)	31.42
GOOGL	1.87	(0.18)	0.00	(0.31)	0.00	0.00	2.57	(4.20)	13.39
META	2.19	0.01	0.00	(0.13)	0.00	0.00	3.22	(4.67)	21.50
GOOG	1.87	(0.17)	0.00	(0.30)	0.00	0.00	2.59	(4.03)	13.41

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