Snap Correlations

SNAP Stock

USD 8.72 0.58 7.13%

The current 90-days correlation between Snap Inc and Twilio Inc is 0.74 (i.e., Poor 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

Poor diversification

The correlation between Snap Inc and DJI is 0.71 (i.e., Poor 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

0.66	ZG	Zillow Group	Pair Corr
0.78	ZH	Zhihu Inc ADR	Pair Corr
0.64	DOYU	DouYu International	Pair Corr
0.68	EVER	EverQuote Class A	Pair Corr
0.8	IAC	IAC Inc	Pair Corr
0.68	YELP	Yelp Inc	Pair Corr

Related Correlations Analysis

	TWLO	FVRR	SPOT	BIDU	PINS	GOOGL	META	GOOG
TWLO		0.87	0.88	0.14	0.9	0.85	0.96	0.84	TWLO
FVRR	0.87		0.72	-0.04	0.66	0.71	0.76	0.69	FVRR
SPOT	0.88	0.72		0.0	0.76	0.82	0.9	0.8	SPOT
BIDU	0.14	-0.04	0.0		0.24	0.12	0.11	0.13	BIDU
PINS	0.9	0.66	0.76	0.24		0.79	0.94	0.78	PINS
GOOGL	0.85	0.71	0.82	0.12	0.79		0.87	1.0	GOOGL
META	0.96	0.76	0.9	0.11	0.94	0.87		0.85	META
GOOG	0.84	0.69	0.8	0.13	0.78	1.0	0.85		GOOG
	TWLO	FVRR	SPOT	BIDU	PINS	GOOGL	META	GOOG

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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

GOOG	+ 1.0	GOOGL
META	+ 0.96	TWLO
META	+ 0.94	PINS
PINS	+ 0.9	TWLO
META	+ 0.9	SPOT
SPOT	+ 0.88	TWLO

High negative correlations

BIDU	- 0.04	FVRR
BIDU	- 0.0	SPOT

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	2.11	0.19	0.07	0.16	3.02	(2.15)	3.89	(4.01)	19.88
FVRR	2.25	0.10	0.04	0.16	2.54	(2.41)	4.13	(4.50)	15.43
SPOT	2.37	0.34	0.12	0.38	2.66	(2.83)	5.65	(4.11)	14.02
BIDU	1.75	(0.18)	0.00	(0.14)	0.00	0.00	3.32	(4.32)	10.43
PINS	2.38	0.03	0.02	0.06	3.23	(2.66)	5.12	(4.97)	20.81
GOOGL	1.84	0.04	0.02	0.09	2.28	(1.99)	3.25	(3.85)	16.94
META	2.11	0.21	0.09	0.18	2.43	(2.44)	4.23	(4.29)	21.50
GOOG	1.81	0.02	0.01	0.07	2.32	(1.95)	3.01	(3.59)	17.39

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