Mitek Systems Correlations

MITK Stock

USD 10.69 0.24 2.30%

The current 90-days correlation between Mitek Systems and Nerdy Inc is -0.03 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Mitek Systems moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Mitek Systems moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Mitek Systems Correlation With Market

Very weak diversification

The correlation between Mitek Systems and DJI is 0.52 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mitek Systems and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Mitek Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Mitek Systems. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

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

Moving together with Mitek Stock

0.62

Eventbrite Class A

Pair Corr

Moving against Mitek Stock

0.47	DSGX	Descartes Systems	Pair Corr
0.34	KC	Kingsoft Cloud Holdings	Pair Corr
0.31	VBIX	Viewbix Common Stock	Pair Corr
0.37	ELWS	Earlyworks Co,	Pair Corr

Related Correlations Analysis

	NRDY	LTCH	DCBO	GWRE	GDDY	ATEN	CEVA	ALRM	VERI
NRDY		0.0	-0.56	0.52	0.87	0.34	-0.37	0.46	-0.61	NRDY
LTCH	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	LTCH
DCBO	-0.56	0.0		-0.4	-0.79	0.19	0.79	-0.55	0.82	DCBO
GWRE	0.52	0.0	-0.4		0.45	0.36	-0.15	0.36	-0.53	GWRE
GDDY	0.87	0.0	-0.79	0.45		0.24	-0.52	0.57	-0.8	GDDY
ATEN	0.34	0.0	0.19	0.36	0.24		0.46	-0.06	-0.22	ATEN
CEVA	-0.37	0.0	0.79	-0.15	-0.52	0.46		-0.36	0.48	CEVA
ALRM	0.46	0.0	-0.55	0.36	0.57	-0.06	-0.36		-0.51	ALRM
VERI	-0.61	0.0	0.82	-0.53	-0.8	-0.22	0.48	-0.51		VERI
	NRDY	LTCH	DCBO	GWRE	GDDY	ATEN	CEVA	ALRM	VERI

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

GDDY	+ 0.87	NRDY
VERI	+ 0.82	DCBO
CEVA	+ 0.79	DCBO
ALRM	+ 0.57	GDDY
GWRE	+ 0.52	NRDY
VERI	+ 0.48	CEVA

High negative correlations

VERI	- 0.8	GDDY
GDDY	- 0.79	DCBO
VERI	- 0.61	NRDY
DCBO	- 0.56	NRDY
ALRM	- 0.55	DCBO
VERI	- 0.53	GWRE

Risk-Adjusted Indicators

There is a big difference between Mitek Stock performing well and Mitek Systems 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 Mitek Systems' 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
NRDY	2.55	(0.48)	0.00	(0.20)	0.00	0.00	4.09	(5.30)	21.81
LTCH	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DCBO	1.58	0.13	0.08	0.15	1.79	(1.63)	3.21	(2.83)	9.52
GWRE	1.21	(0.01)	(0.04)	0.00	1.54	(1.26)	1.69	(2.21)	20.07
GDDY	1.19	(0.43)	0.00	(0.53)	0.00	0.00	1.63	(2.95)	12.87
ATEN	1.47	(0.11)	0.00	(0.02)	0.00	0.00	2.65	(3.50)	9.96
CEVA	2.15	(0.02)	0.02	0.05	2.29	(2.66)	4.50	(4.02)	15.02
ALRM	1.18	(0.14)	0.00	(0.04)	0.00	0.00	2.62	(2.17)	6.26
VERI	5.83	0.50	0.10	0.26	5.41	(7.07)	15.89	(8.77)	42.16

Mitek Systems Corporate Management

Jason JD	Chief Officer	Profile
Scott Marcus	G Counsel	Profile
David Lyle	Chief Officer	Profile
Michael Diamond	Chief Revenue Officer	Profile
Stephen Ritter	Chief Officer	Profile

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