Snowflake Correlations

SNOW Stock

USD 208.18 3.10 1.47%

The current 90-days correlation between Snowflake and Workday is -0.12 (i.e., Good 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

Poor diversification

The correlation between Snowflake and DJI is 0.74 (i.e., Poor 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 persons.

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

Moving together with Snowflake Stock

0.81	U	Unity Software Downward Rally	Pair Corr
0.81	DJCO	Daily Journal Corp	Pair Corr
0.92	BL	Blackline	Pair Corr
0.9	DT	Dynatrace Holdings LLC	Pair Corr
0.79	EB	Eventbrite Class A	Pair Corr
0.78	ZM	Zoom Video Communications	Pair Corr
0.9	DOMO	Domo Inc	Pair Corr
0.86	VERB	Verb Technology	Pair Corr
0.63	DSGX	Descartes Systems	Pair Corr
0.81	DUOL	Duolingo	Pair Corr
0.84	DUOT	Duos Technologies	Pair Corr
0.94	VTEX	VTEX	Pair Corr
0.79	EGAN	eGain	Pair Corr
0.85	ETWO	E2open Parent Holdings	Pair Corr
0.86	ANY	Sphere 3D Corp	Pair Corr
0.92	APP	Applovin Corp	Pair Corr
0.85	BMR	Beamr Imaging	Pair Corr
0.9	BSY	Bentley Systems	Pair Corr

Moving against Snowflake Stock

0.79	WETO	Webus International	Pair Corr
0.78	QH	Quhuo	Pair Corr
0.76	WFCF	Where Food Comes	Pair Corr
0.53	VMEO	Vimeo Inc	Pair Corr
0.38	WALD	Waldencast Acquisition	Pair Corr
0.31	KC	Kingsoft Cloud Holdings	Pair Corr
0.69	EXFY	Expensify	Pair Corr
0.58	CXAIW	CXApp Inc	Pair Corr
0.53	FRGT	Freight Technologies	Pair Corr
0.43	XHLD	TEN Holdings, Common	Pair Corr
0.42	WALDW	Waldencast Acquisition	Pair Corr

Related Correlations Analysis

	AI	WDAY	INTU	ZM	CRM	TTD	NOW	ADSK
AI		0.58	0.84	0.81	0.48	0.79	0.79	0.8	AI
WDAY	0.58		0.47	0.85	0.87	0.76	0.76	0.72	WDAY
INTU	0.84	0.47		0.66	0.27	0.82	0.82	0.89	INTU
ZM	0.81	0.85	0.66		0.71	0.84	0.89	0.86	ZM
CRM	0.48	0.87	0.27	0.71		0.6	0.57	0.5	CRM
TTD	0.79	0.76	0.82	0.84	0.6		0.86	0.9	TTD
NOW	0.79	0.76	0.82	0.89	0.57	0.86		0.95	NOW
ADSK	0.8	0.72	0.89	0.86	0.5	0.9	0.95		ADSK
	AI	WDAY	INTU	ZM	CRM	TTD	NOW	ADSK

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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
AI	3.06	0.17	0.06	0.13	3.03	(3.97)	5.29	(5.53)	26.86
WDAY	1.60	0.08	0.01	(0.32)	3.06	(1.40)	2.95	(3.00)	22.47
INTU	1.46	0.43	0.20	(4.07)	1.47	(1.60)	3.15	(2.83)	12.65
ZM	1.31	0.03	0.01	0.07	1.88	(1.38)	2.73	(2.53)	11.09
CRM	1.65	(0.03)	0.00	0.42	0.00	0.00	3.02	(4.45)	13.13
TTD	3.23	0.39	0.07	(11.07)	4.16	(3.24)	6.37	(6.50)	28.51
NOW	2.04	0.38	0.14	(3.21)	2.15	(2.27)	4.30	(3.74)	18.66
ADSK	1.28	0.28	0.16	(1.34)	1.30	(1.54)	2.75	(2.51)	12.85

Snowflake Corporate Management

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

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