Spotify Technology Correlations

SPOT Stock

USD 717.49 8.34 1.18%

The current 90-days correlation between Spotify Technology and Snap Inc is 0.15 (i.e., Average diversification). The correlation of Spotify Technology 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.

Spotify Technology Correlation With Market

Very weak diversification

The correlation between Spotify Technology SA and DJI is 0.4 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Spotify Technology SA and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Spotify Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Spotify Technology SA. 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.

Moving together with Spotify Stock

0.82	BZ	Kanzhun Ltd ADR	Pair Corr
0.87	EB	Eventbrite Class A	Pair Corr
0.92	WB	Weibo Corp	Pair Corr
0.64	EVER	EverQuote Class A	Pair Corr
0.61	FENG	Phoenix New Media	Pair Corr
0.65	IAC	IAC Inc	Pair Corr
0.87	MAX	MediaAlpha	Pair Corr
0.79	TEM	Tempus AI, Class	Pair Corr
0.92	TME	Tencent Music Entert	Pair Corr
0.81	GOOG	Alphabet Class C Earnings Call This Week	Pair Corr
0.83	ZDGE	Zedge Inc Upward Rally	Pair Corr
0.74	IZEA	IZEA Inc	Pair Corr
0.88	JFIN	Jiayin Group	Pair Corr
0.91	JOYY	JOYY Inc Symbol Change	Pair Corr
0.69	KIND	Nextdoor Holdings	Pair Corr
0.77	KRKR	36Kr Holdings	Pair Corr
0.85	MATH	Metalpha Technology	Pair Corr
0.93	META	Meta Platforms	Pair Corr
0.89	MOMO	Hello Group	Pair Corr
0.72	MTCH	Match Group	Pair Corr

Moving against Spotify Stock

0.66	SLE	Super League Enterprise Downward Rally	Pair Corr
0.53	CCG	Cheche Group Class Earnings Call This Week	Pair Corr
0.45	DJT	Trump Media Technology	Pair Corr
0.73	GIFT	RDE, Inc Symbol Change	Pair Corr
0.61	SEATW	Vivid Seats Warrant	Pair Corr
0.87	ONFOW	Onfolio Holdings Warrant	Pair Corr
0.84	NAMI	Jinxin Technology Holding	Pair Corr

Related Correlations Analysis

	SNAP	TWLO	FVRR	BIDU	PINS	GOOGL	META	GOOG	Z	TCEHY
SNAP		0.51	0.25	0.55	0.56	0.46	0.56	0.56	0.74	0.39	SNAP
TWLO	0.51		0.81	0.27	0.93	0.81	0.94	0.82	0.73	0.92	TWLO
FVRR	0.25	0.81		0.18	0.64	0.55	0.62	0.54	0.37	0.86	FVRR
BIDU	0.55	0.27	0.18		0.18	0.15	0.21	0.21	0.45	0.38	BIDU
PINS	0.56	0.93	0.64	0.18		0.82	0.98	0.85	0.78	0.8	PINS
GOOGL	0.46	0.81	0.55	0.15	0.82		0.85	0.92	0.71	0.72	GOOGL
META	0.56	0.94	0.62	0.21	0.98	0.85		0.88	0.81	0.8	META
GOOG	0.56	0.82	0.54	0.21	0.85	0.92	0.88		0.75	0.7	GOOG
Z	0.74	0.73	0.37	0.45	0.78	0.71	0.81	0.75		0.59	Z
TCEHY	0.39	0.92	0.86	0.38	0.8	0.72	0.8	0.7	0.59		TCEHY
	SNAP	TWLO	FVRR	BIDU	PINS	GOOGL	META	GOOG	Z	TCEHY

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

Risk-Adjusted Indicators

There is a big difference between Spotify Stock performing well and Spotify Technology 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 Spotify Technology'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
SNAP	2.97	(0.12)	0.07	0.20	3.43	(3.57)	7.59	(4.34)	34.42
TWLO	1.97	0.21	0.14	0.39	2.16	(2.25)	4.70	(3.55)	19.88
FVRR	2.00	0.30	0.00	(1.42)	2.07	(2.32)	3.89	(3.21)	15.43
BIDU	1.49	(0.01)	(0.04)	0.24	1.65	(1.62)	3.98	(2.95)	10.39
PINS	1.97	0.19	0.18	0.37	1.54	(2.46)	5.12	(2.68)	20.81
GOOGL	1.69	0.42	0.04	(0.90)	1.80	(1.96)	3.25	(2.31)	16.94
META	1.86	0.14	0.15	0.34	1.48	(2.23)	4.23	(2.56)	21.50
GOOG	1.62	0.09	0.05	0.34	1.80	(1.88)	3.01	(2.28)	17.39
Z	1.64	0.09	0.07	0.32	1.90	(1.73)	4.05	(2.89)	14.92
TCEHY	1.01	0.20	(0.05)	(9.65)	0.90	(1.20)	2.42	(2.19)	6.84

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC