SPS Commerce Correlations

SPSC Stock

USD 90.07 1.17 1.28%

The current 90-days correlation between SPS Commerce and Euronet Worldwide is 0.11 (i.e., Average diversification). The correlation of SPS Commerce 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.

SPS Commerce Correlation With Market

Modest diversification

The correlation between SPS Commerce and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPS Commerce and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with SPS Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in SPS Commerce. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

For information on how to trade SPS Stock refer to our How to Trade SPS Stock guide.

Moving together with SPS Stock

0.65	DV	DoubleVerify Holdings	Pair Corr
0.83	JG	Aurora Mobile Tech Boost	Pair Corr
0.86	QH	Quhuo	Pair Corr
0.63	VS	Versus Systems	Pair Corr
0.67	ZD	Ziff Davis	Pair Corr
0.73	VEEA	Veea Inc	Pair Corr
0.88	VERX	Vertex	Pair Corr
0.81	DSGX	Descartes Systems	Pair Corr
0.7	NOW	NowVertical Group	Pair Corr

Moving against SPS Stock

0.48	BL	Blackline	Pair Corr
0.38	U	Unity Software	Pair Corr
0.51	300845	Zhengzhou J	Pair Corr
0.41	RM	RM Plc	Pair Corr
0.4	IOM	iomart Group plc	Pair Corr
0.31	MKT	DeepMarkit Corp	Pair Corr

Related Correlations Analysis

	EEFT	PAGS	WRD	AVPT	BB	DOCN	YOU	BLKB	NSIT	ODD
EEFT		-0.47	0.67	0.76	0.3	-0.44	-0.38	0.61	0.67	0.79	EEFT
PAGS	-0.47		-0.21	-0.4	-0.46	0.51	0.35	-0.28	-0.56	-0.46	PAGS
WRD	0.67	-0.21		0.75	0.41	-0.31	-0.62	0.69	0.66	0.59	WRD
AVPT	0.76	-0.4	0.75		0.42	-0.41	-0.42	0.8	0.6	0.64	AVPT
BB	0.3	-0.46	0.41	0.42		-0.68	-0.51	0.33	0.72	0.59	BB
DOCN	-0.44	0.51	-0.31	-0.41	-0.68		0.52	-0.32	-0.67	-0.69	DOCN
YOU	-0.38	0.35	-0.62	-0.42	-0.51	0.52		-0.24	-0.74	-0.47	YOU
BLKB	0.61	-0.28	0.69	0.8	0.33	-0.32	-0.24		0.41	0.57	BLKB
NSIT	0.67	-0.56	0.66	0.6	0.72	-0.67	-0.74	0.41		0.7	NSIT
ODD	0.79	-0.46	0.59	0.64	0.59	-0.69	-0.47	0.57	0.7		ODD
	EEFT	PAGS	WRD	AVPT	BB	DOCN	YOU	BLKB	NSIT	ODD

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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

BLKB	+ 0.8	AVPT
ODD	+ 0.79	EEFT
AVPT	+ 0.76	EEFT
AVPT	+ 0.75	WRD
NSIT	+ 0.72	BB
ODD	+ 0.7	NSIT

High negative correlations

NSIT	- 0.74	YOU
ODD	- 0.69	DOCN
DOCN	- 0.68	BB
NSIT	- 0.67	DOCN
YOU	- 0.62	WRD
NSIT	- 0.56	PAGS

Risk-Adjusted Indicators

There is a big difference between SPS Stock performing well and SPS Commerce 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 SPS Commerce'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
EEFT	1.27	(0.30)	0.00	(0.35)	0.00	0.00	2.04	(2.67)	7.90
PAGS	2.12	0.09	0.05	0.15	2.58	(2.24)	4.76	(4.93)	11.71
WRD	3.14	(0.42)	0.00	(0.08)	0.00	0.00	5.14	(6.66)	24.73
AVPT	1.78	(0.29)	0.00	(0.16)	0.00	0.00	2.99	(3.63)	18.33
BB	1.80	(0.28)	0.00	(0.20)	0.00	0.00	3.37	(3.12)	16.62
DOCN	2.62	0.32	0.14	0.30	2.47	(3.16)	6.72	(3.94)	24.58
YOU	2.13	0.16	0.05	0.31	2.13	(2.64)	5.49	(3.81)	18.67
BLKB	1.69	(0.26)	0.00	(0.29)	0.00	0.00	2.59	(4.13)	11.92
NSIT	1.47	(0.49)	0.00	(0.31)	0.00	0.00	2.42	(3.62)	7.12
ODD	2.35	(0.61)	0.00	(0.44)	0.00	0.00	4.24	(5.12)	18.82

SPS Commerce Corporate Management

Erica Koenig	Senior Officer	Profile
Karin MBA	VP Officer	Profile
Michael Svatek	Senior Officer	Profile
Dan Juckniess	Senior Officer	Profile
Daniel Juckniess	Executive Officer	Profile

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