Progress Software Correlations

PRGS Stock

USD 39.49 0.22 0.55%

The current 90-days correlation between Progress Software and StoneCo is 0.13 (i.e., Average diversification). The correlation of Progress Software 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.

Progress Software Correlation With Market

Very good diversification

The correlation between Progress Software and DJI is -0.33 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Progress Software and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Progress Stock

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Progress Software. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in census.

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

Moving together with Progress Stock

0.67	AI	C3 Ai Inc Tech Boost	Pair Corr
0.69	BB	BlackBerry	Pair Corr
0.64	ZS	Zscaler Tech Boost	Pair Corr
0.7	ANY	Sphere 3D Corp Buyout Trend	Pair Corr
0.65	BTQ	BTQ Technologies Corp	Pair Corr
0.61	FROG	Jfrog	Pair Corr
0.64	FUBO	Fubotv Inc	Pair Corr
0.67	NOW	ServiceNow Aggressive Push	Pair Corr
0.65	PGY	Pagaya Technologies	Pair Corr
0.73	RPD	Rapid7 Inc Tech Boost	Pair Corr
0.62	TLS	Telos Corp Earnings Call This Week	Pair Corr
0.66	GTLB	Gitlab Inc	Pair Corr
0.61	INTZ	Intrusion	Pair Corr
0.64	LSPD	Lightspeed Commerce	Pair Corr
0.66	MSFT	Microsoft Aggressive Push	Pair Corr
0.67	NABL	N Able Inc Tech Boost	Pair Corr
0.68	OSPN	OneSpan Earnings Call This Week	Pair Corr
0.71	PATH	Uipath Inc Earnings Call This Week	Pair Corr
0.65	PLTR	Palantir Technologies Aggressive Push	Pair Corr
0.64	QLYS	Qualys Inc	Pair Corr
0.66	RBRK	Rubrik Earnings Call This Week	Pair Corr

Moving against Progress Stock

0.57	OS	OneStream Class A	Pair Corr
0.51	GROV	Virgin Group Acquisition	Pair Corr
0.35	TDC	Teradata Corp	Pair Corr
0.47	ATEN	A10 Network	Pair Corr
0.38	BKRKF	PT Bank Rakyat	Pair Corr

Related Correlations Analysis

	WEX	FOUR	STNE	CORZ	ACIW	FROG	QLYS	BOX	OS
WEX		-0.27	-0.07	0.28	-0.19	-0.29	-0.33	-0.28	0.5	WEX
FOUR	-0.27		-0.25	-0.03	0.74	0.81	0.84	0.75	-0.55	FOUR
STNE	-0.07	-0.25		0.48	-0.6	-0.42	-0.42	-0.6	0.4	STNE
CORZ	0.28	-0.03	0.48		-0.45	-0.19	-0.14	-0.41	0.57	CORZ
ACIW	-0.19	0.74	-0.6	-0.45		0.86	0.81	0.93	-0.74	ACIW
FROG	-0.29	0.81	-0.42	-0.19	0.86		0.94	0.86	-0.72	FROG
QLYS	-0.33	0.84	-0.42	-0.14	0.81	0.94		0.86	-0.65	QLYS
BOX	-0.28	0.75	-0.6	-0.41	0.93	0.86	0.86		-0.77	BOX
OS	0.5	-0.55	0.4	0.57	-0.74	-0.72	-0.65	-0.77		OS
	WEX	FOUR	STNE	CORZ	ACIW	FROG	QLYS	BOX	OS

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

QLYS	+ 0.94	FROG
BOX	+ 0.93	ACIW
FROG	+ 0.86	ACIW
BOX	+ 0.86	FROG
BOX	+ 0.86	QLYS
QLYS	+ 0.84	FOUR

High negative correlations

OS	- 0.77	BOX
OS	- 0.74	ACIW
OS	- 0.72	FROG
OS	- 0.65	QLYS
BOX	- 0.6	STNE
ACIW	- 0.6	STNE

Risk-Adjusted Indicators

There is a big difference between Progress Stock performing well and Progress Software 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 Progress Software'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
WEX	1.80	0.22	0.09	0.13	2.17	(2.01)	3.59	(3.62)	14.87
FOUR	2.32	(0.58)	0.00	(0.46)	0.00	0.00	5.12	(7.10)	23.18
STNE	2.64	(0.23)	0.00	(0.10)	0.00	0.00	4.89	(6.68)	27.22
CORZ	3.41	(0.08)	0.00	(0.03)	0.00	0.00	7.30	(7.56)	20.64
ACIW	1.66	(0.10)	0.00	(0.10)	0.00	0.00	2.96	(4.48)	12.00
FROG	3.37	(0.47)	0.00	(2.19)	0.00	0.00	6.39	(7.95)	31.73
QLYS	1.84	(0.53)	0.00	9.20	0.00	0.00	2.67	(5.54)	15.94
BOX	1.80	(0.18)	0.00	(0.18)	0.00	0.00	3.87	(4.59)	12.81
OS	1.45	0.27	0.11	0.49	1.76	(1.75)	3.71	(3.04)	29.32

Progress Software Corporate Management

Amanda Arria	Chief Officer	Profile
Michael Micciche	Senior Relations	Profile
Sundar Subramanian	Executive Management	Profile
Jeremy Segal	Executive Development	Profile

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