Snowflake Correlations

SNOW Stock

USD 215.28 2.65 1.22%

The current 90-days correlation between Snowflake and MicroStrategy Incorporated is 0.43 (i.e., Very weak diversification). The correlation of Snowflake 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.

Snowflake Correlation With Market

Weak diversification

The correlation between Snowflake 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 Snowflake and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Snowflake Stock

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

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

Moving against Snowflake Stock

0.63	JPSTF	JAPAN POST BANK	Pair Corr
0.6	TIG	Team Internet Group	Pair Corr
0.46	MBFJF	Mitsubishi UFJ Financial	Pair Corr
0.43	GDDY	Godaddy	Pair Corr
0.37	FCT	Firstwave Cloud Tech	Pair Corr
0.57	MBWM	Mercantile Bank	Pair Corr
0.48	ULTA	Ulta Beauty	Pair Corr
0.61	VGZ	Vista Gold	Pair Corr
0.52	CRKN	Crown Electrokinetics	Pair Corr

Related Correlations Analysis

	MSTR	CRWV	CDNS	SNPS	ADSK	WDAY	NET	MSI	GLW	DDOG
MSTR		0.89	0.78	0.54	0.8	0.68	0.56	0.96	-0.33	-0.44	MSTR
CRWV	0.89		0.7	0.59	0.6	0.74	0.62	0.84	0.0	-0.35	CRWV
CDNS	0.78	0.7		0.81	0.86	0.51	0.54	0.76	-0.15	-0.61	CDNS
SNPS	0.54	0.59	0.81		0.7	0.48	0.22	0.53	0.1	-0.63	SNPS
ADSK	0.8	0.6	0.86	0.7		0.47	0.36	0.82	-0.42	-0.65	ADSK
WDAY	0.68	0.74	0.51	0.48	0.47		0.46	0.63	-0.05	-0.23	WDAY
NET	0.56	0.62	0.54	0.22	0.36	0.46		0.44	0.18	0.09	NET
MSI	0.96	0.84	0.76	0.53	0.82	0.63	0.44		-0.41	-0.53	MSI
GLW	-0.33	0.0	-0.15	0.1	-0.42	-0.05	0.18	-0.41		0.38	GLW
DDOG	-0.44	-0.35	-0.61	-0.63	-0.65	-0.23	0.09	-0.53	0.38		DDOG
	MSTR	CRWV	CDNS	SNPS	ADSK	WDAY	NET	MSI	GLW	DDOG

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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

MSI	+ 0.96	MSTR
CRWV	+ 0.89	MSTR
ADSK	+ 0.86	CDNS
MSI	+ 0.84	CRWV
MSI	+ 0.82	ADSK
SNPS	+ 0.81	CDNS

High negative correlations

DDOG	- 0.65	ADSK
DDOG	- 0.63	SNPS
DDOG	- 0.61	CDNS
DDOG	- 0.53	MSI
DDOG	- 0.44	MSTR
GLW	- 0.42	ADSK

Risk-Adjusted Indicators

There is a big difference between Snowflake Stock performing well and Snowflake 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 Snowflake'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
MSTR	3.33	(0.98)	0.00	(0.46)	0.00	0.00	5.78	(7.15)	15.70
CRWV	3.73	(0.50)	0.00	(0.45)	0.00	0.00	7.60	(8.30)	28.00
CDNS	1.38	(0.22)	0.00	(0.11)	0.00	0.00	2.34	(3.16)	11.29
SNPS	2.07	(0.03)	0.01	0.05	2.84	(2.16)	4.08	(4.75)	22.25
ADSK	0.96	(0.20)	0.00	(0.13)	0.00	0.00	1.58	(2.20)	6.14
WDAY	1.52	(0.08)	(0.03)	0.00	2.22	(1.49)	3.28	(3.15)	15.10
NET	2.21	(0.22)	0.00	(0.09)	0.00	0.00	4.08	(3.95)	19.97
MSI	0.93	(0.48)	0.00	(0.80)	0.00	0.00	1.09	(3.31)	7.63
GLW	1.85	0.15	0.07	0.16	2.75	(1.83)	3.56	(4.48)	11.93
DDOG	2.13	0.08	0.03	0.19	2.25	(3.06)	4.45	(3.25)	32.62

Snowflake Corporate Management

Marcin Zukowski	CoFounder Engineering	Profile
Brad Burns	Chief Officer	Profile
Muralidhar	Chief Officer	Profile
Mike Blandina	Chief Officer	Profile
Brian Robins	Chief Officer	Profile
Tyler Prince	Senior Channels	Profile

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