DigitalOcean Holdings Correlations

DOCN Stock

USD 47.66 1.51 3.07%

The current 90-days correlation between DigitalOcean Holdings and Dlocal is 0.35 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as DigitalOcean Holdings moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if DigitalOcean Holdings moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

DigitalOcean Holdings Correlation With Market

Modest diversification

The correlation between DigitalOcean Holdings and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding DigitalOcean Holdings and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with DigitalOcean Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in DigitalOcean Holdings. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in world development indicators.

To learn how to invest in DigitalOcean Stock, please use our How to Invest in DigitalOcean Holdings guide.

Moving together with DigitalOcean Stock

0.61	PNGM	Er Therapeutics	Pair Corr
0.71	SBKFF	State Bank	Pair Corr
0.86	MTC	MMTEC Inc	Pair Corr
0.8	CSCO	Cisco Systems	Pair Corr
0.82	JBHT	JB Hunt Transport	Pair Corr
0.68	GKOS	Glaukos Corp	Pair Corr
0.82	NHIC	NewHold Investment Corp	Pair Corr
0.75	AAPL	Apple Inc	Pair Corr
0.83	COPL	Copley Acquisition Corp	Pair Corr
0.76	DRXGF	Drax Group plc	Pair Corr

Moving against DigitalOcean Stock

0.75	TIG	Team Internet Group	Pair Corr
0.74	AAGH	America Great Health	Pair Corr
0.71	FCT	Firstwave Cloud Tech	Pair Corr
0.68	GDDY	Godaddy	Pair Corr

Related Correlations Analysis

	DLO	SPSC	VRNS	CLBT	QLYS	TENB	BOX	BL	WRD	PLXS
DLO		0.73	0.65	0.25	-0.52	0.78	0.73	-0.35	0.72	0.22	DLO
SPSC	0.73		0.94	0.49	-0.68	0.91	0.79	-0.63	0.83	-0.02	SPSC
VRNS	0.65	0.94		0.5	-0.65	0.9	0.79	-0.75	0.78	-0.06	VRNS
CLBT	0.25	0.49	0.5		-0.29	0.26	0.31	-0.44	0.41	0.26	CLBT
QLYS	-0.52	-0.68	-0.65	-0.29		-0.67	-0.54	0.58	-0.67	0.36	QLYS
TENB	0.78	0.91	0.9	0.26	-0.67		0.87	-0.54	0.85	-0.08	TENB
BOX	0.73	0.79	0.79	0.31	-0.54	0.87		-0.52	0.73	0.01	BOX
BL	-0.35	-0.63	-0.75	-0.44	0.58	-0.54	-0.52		-0.43	0.27	BL
WRD	0.72	0.83	0.78	0.41	-0.67	0.85	0.73	-0.43		0.1	WRD
PLXS	0.22	-0.02	-0.06	0.26	0.36	-0.08	0.01	0.27	0.1		PLXS
	DLO	SPSC	VRNS	CLBT	QLYS	TENB	BOX	BL	WRD	PLXS

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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

VRNS	+ 0.94	SPSC
TENB	+ 0.91	SPSC
TENB	+ 0.9	VRNS
BOX	+ 0.87	TENB
WRD	+ 0.85	TENB
WRD	+ 0.83	SPSC

High negative correlations

BL	- 0.75	VRNS
QLYS	- 0.68	SPSC
WRD	- 0.67	QLYS
TENB	- 0.67	QLYS
QLYS	- 0.65	VRNS
BL	- 0.63	SPSC

Risk-Adjusted Indicators

There is a big difference between DigitalOcean Stock performing well and DigitalOcean Holdings 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 DigitalOcean Holdings' 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
DLO	2.01	(0.08)	0.01	0.03	2.88	(1.99)	4.19	(4.02)	17.44
SPSC	1.66	(0.43)	0.00	(0.34)	0.00	0.00	2.42	(3.12)	24.69
VRNS	2.44	(0.60)	0.00	(0.38)	0.00	0.00	3.86	(2.93)	54.22
CLBT	2.02	0.19	0.04	(3.28)	2.43	(2.21)	3.60	(4.33)	25.03
QLYS	1.49	0.14	0.08	0.20	1.50	(1.69)	2.70	(3.05)	25.04
TENB	1.14	(0.30)	0.00	(0.21)	0.00	0.00	2.35	(2.31)	8.15
BOX	0.99	(0.18)	0.00	(0.20)	0.00	0.00	2.76	(2.85)	9.51
BL	1.45	0.02	0.02	0.09	1.97	(1.40)	3.24	(3.79)	10.66
WRD	3.79	(0.28)	0.00	(0.03)	0.00	0.00	9.21	(6.66)	27.07
PLXS	1.89	0.08	0.05	0.11	2.58	(1.95)	4.29	(4.18)	12.46

DigitalOcean Holdings Corporate Management

Cherie Barrett	Senior Officer	Profile
Wade Wegner	Chief Officer	Profile
Gabriel Monroy	Chief Officer	Profile
Bratin Saha	Chief Officer	Profile
Lawrence DAngelo	Chief Officer	Profile
Warren Jenson	Independent Director	Profile

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