Mitek Systems Correlations

MITK Stock

USD 8.99 0.01 0.11%

The current 90-days correlation between Mitek Systems and eGain is 0.1 (i.e., Average 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 0.51 (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 various price indices.

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

Moving together with Mitek Stock

0.66	PRCH	Porch Group	Pair Corr
0.8	SSNC	SSC Technologies Holdings Earnings Call This Week	Pair Corr
0.77	BKRKY	Bank Rakyat	Pair Corr
0.75	TLK	Telkom Indonesia Tbk	Pair Corr
0.62	EC	Ecopetrol SA ADR	Pair Corr
0.75	VZ	Verizon Communications	Pair Corr
0.75	T	ATT Inc Earnings Call This Week	Pair Corr

Moving against Mitek Stock

0.71	DGXX	Digi Power X Symbol Change	Pair Corr
0.63	TTD	Trade Desk	Pair Corr
0.47	BKRKF	PT Bank Rakyat	Pair Corr
0.37	MTLS	Materialise NV Earnings Call This Week	Pair Corr
0.35	SSNLF	Samsung Electronics	Pair Corr
0.31	EGAN	eGain	Pair Corr
0.35	IBM	International Business Earnings Call This Week	Pair Corr

Related Correlations Analysis

	EGAN	RMNI	PUBM	LAW	CMRC	RPAY	MTLS	IMXI	XRX	SATL
EGAN		0.3	-0.45	0.7	0.28	-0.52	0.7	0.43	-0.51	0.1	EGAN
RMNI	0.3		0.2	0.28	0.45	-0.18	0.55	-0.13	0.28	0.08	RMNI
PUBM	-0.45	0.2		-0.81	-0.27	-0.29	0.02	-0.94	0.83	-0.15	PUBM
LAW	0.7	0.28	-0.81		0.56	0.07	0.33	0.78	-0.68	0.21	LAW
CMRC	0.28	0.45	-0.27	0.56		0.09	0.18	0.23	-0.16	0.17	CMRC
RPAY	-0.52	-0.18	-0.29	0.07	0.09		-0.65	0.35	-0.01	0.28	RPAY
MTLS	0.7	0.55	0.02	0.33	0.18	-0.65		0.03	0.02	0.1	MTLS
IMXI	0.43	-0.13	-0.94	0.78	0.23	0.35	0.03		-0.71	0.23	IMXI
XRX	-0.51	0.28	0.83	-0.68	-0.16	-0.01	0.02	-0.71		-0.02	XRX
SATL	0.1	0.08	-0.15	0.21	0.17	0.28	0.1	0.23	-0.02		SATL
	EGAN	RMNI	PUBM	LAW	CMRC	RPAY	MTLS	IMXI	XRX	SATL

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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

XRX	+ 0.83	PUBM
IMXI	+ 0.78	LAW
LAW	+ 0.7	EGAN
MTLS	+ 0.7	EGAN
CMRC	+ 0.56	LAW
MTLS	+ 0.55	RMNI

High negative correlations

IMXI	- 0.94	PUBM
LAW	- 0.81	PUBM
XRX	- 0.71	IMXI
XRX	- 0.68	LAW
MTLS	- 0.65	RPAY
RPAY	- 0.52	EGAN

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
EGAN	3.62	1.10	0.36	0.41	2.62	(4.62)	9.49	(4.91)	26.83
RMNI	2.00	(0.28)	0.00	(0.07)	0.00	0.00	3.54	(3.96)	16.75
PUBM	2.68	(0.74)	0.00	(0.33)	0.00	0.00	5.32	(6.28)	26.04
LAW	2.07	0.45	0.21	0.27	1.74	(2.50)	5.80	(3.41)	12.60
CMRC	2.70	(0.33)	0.00	(0.08)	0.00	0.00	6.65	(4.91)	14.20
RPAY	2.28	(0.17)	0.00	(0.03)	0.00	0.00	4.46	(5.14)	12.62
MTLS	2.20	(0.07)	0.00	0.02	3.05	(2.75)	4.96	(4.12)	16.67
IMXI	2.27	0.84	0.45	(3.09)	0.99	(3.23)	2.73	(3.11)	61.92
XRX	3.34	(0.79)	0.00	(0.14)	0.00	0.00	4.86	(7.61)	36.71
SATL	3.69	(0.43)	0.00	(0.09)	0.00	0.00	6.10	(6.53)	45.39

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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