Rackspace Technology Correlations

RXT Stock

USD 1.05 0.06 5.41%

The current 90-days correlation between Rackspace Technology and Lesaka Technologies is -0.02 (i.e., Good diversification). The correlation of Rackspace 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.

Rackspace Technology Correlation With Market

Weak diversification

The correlation between Rackspace Technology and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Rackspace Technology and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Rackspace Stock

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

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

Moving together with Rackspace Stock

0.69

DMRC

Digimarc Downward Rally

Pair Corr

Moving against Rackspace Stock

0.35	MQ	Marqeta	Pair Corr
0.44	300845	Zhengzhou J	Pair Corr
0.34	688078	Beijing LongRuan Tec	Pair Corr
0.41	IOM	iomart Group plc Earnings Call This Week	Pair Corr
0.33	NOW	NowVertical Group	Pair Corr

Related Correlations Analysis

	LSAK	RPAY	VERI	GRRR	BKKT	PDYN	REKR	CMRC	LAW	DDD
LSAK		0.76	-0.56	0.24	-0.47	-0.01	-0.56	-0.4	-0.78	-0.26	LSAK
RPAY	0.76		-0.56	0.67	-0.41	0.25	-0.67	-0.06	-0.61	-0.11	RPAY
VERI	-0.56	-0.56		-0.14	0.7	0.37	0.88	0.23	0.71	0.71	VERI
GRRR	0.24	0.67	-0.14		0.11	0.65	-0.31	0.23	-0.21	0.34	GRRR
BKKT	-0.47	-0.41	0.7	0.11		0.7	0.65	0.12	0.46	0.83	BKKT
PDYN	-0.01	0.25	0.37	0.65	0.7		0.21	0.21	0.07	0.81	PDYN
REKR	-0.56	-0.67	0.88	-0.31	0.65	0.21		0.19	0.69	0.66	REKR
CMRC	-0.4	-0.06	0.23	0.23	0.12	0.21	0.19		0.58	0.25	CMRC
LAW	-0.78	-0.61	0.71	-0.21	0.46	0.07	0.69	0.58		0.38	LAW
DDD	-0.26	-0.11	0.71	0.34	0.83	0.81	0.66	0.25	0.38		DDD
	LSAK	RPAY	VERI	GRRR	BKKT	PDYN	REKR	CMRC	LAW	DDD

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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

REKR	+ 0.88	VERI
DDD	+ 0.83	BKKT
DDD	+ 0.81	PDYN
RPAY	+ 0.76	LSAK
LAW	+ 0.71	VERI
DDD	+ 0.71	VERI

High negative correlations

LAW	- 0.78	LSAK
REKR	- 0.67	RPAY
LAW	- 0.61	RPAY
VERI	- 0.56	RPAY
REKR	- 0.56	LSAK
VERI	- 0.56	LSAK

Risk-Adjusted Indicators

There is a big difference between Rackspace Stock performing well and Rackspace 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 Rackspace 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
LSAK	1.80	(0.29)	0.00	0.43	0.00	0.00	4.17	(4.42)	13.42
RPAY	2.77	(0.93)	0.00	(0.34)	0.00	0.00	3.85	(6.73)	22.07
VERI	7.52	1.44	0.19	(0.46)	6.45	(9.51)	24.26	(9.14)	76.19
GRRR	3.18	(0.36)	0.00	(0.15)	0.00	0.00	5.96	(6.51)	22.72
BKKT	8.34	1.50	0.20	0.31	6.97	(9.88)	28.61	(12.57)	62.06
PDYN	3.53	(0.46)	0.00	(0.08)	0.00	0.00	7.29	(8.52)	25.43
REKR	4.81	1.11	0.21	1.46	4.27	(5.76)	16.57	(7.97)	32.89
CMRC	2.63	(0.13)	0.00	(0.01)	0.00	0.00	6.65	(4.43)	16.77
LAW	2.68	0.40	0.15	0.29	2.34	(3.18)	5.80	(4.15)	19.49
DDD	4.29	0.05	0.03	0.05	4.87	(5.43)	10.27	(9.12)	35.00

Rackspace Technology Corporate Management

Srini Koushik	Ex CTO	Profile
Kathleen Schneider	Chief Officer	Profile
Greg Hrncir	Chief Officer	Profile
Michael Bross	Senior Officer	Profile
Sagar Hebbar	Head Relations	Profile
Gajen Kandiah	Chief Officer	Profile
JD Esq	Chief EVP	Profile

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