SPS Commerce Correlations

SPSC Stock

USD 81.55 0.70 0.85%

The current 90-days correlation between SPS Commerce and Swvl Holdings Corp is 0.08 (i.e., Significant 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 main economic indicators.

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

Moving together with SPS Stock

0.79	BSY	Bentley Systems	Pair Corr
0.72	SAP	SAP SE ADR	Pair Corr
0.63	MTEC	Made Tech Group	Pair Corr
0.79	MANH	Manhattan Associates	Pair Corr
0.8	MSTR	MicroStrategy Incorporated	Pair Corr
0.84	PAYC	Paycom Soft	Pair Corr

Moving against SPS Stock

0.87	601360	360 Security Technology	Pair Corr
0.63	PCOR	Procore Technologies	Pair Corr
0.36	ZM	Zoom Video Communications	Pair Corr
0.35	BKS	Beeks Trading	Pair Corr
0.32	PEGA	Pegasystems	Pair Corr
0.68	BK	Bank of New York	Pair Corr
0.6	688111	Beijing Kingsoft Office	Pair Corr
0.58	BKKPF	Bangkok Bank Public	Pair Corr
0.54	GS	Goldman Sachs Group	Pair Corr
0.43	SNPHF	Santen Pharmaceutical	Pair Corr
0.43	NEE	Nextera Energy	Pair Corr
0.43	FET	Forum Energy Technologies Earnings Call Tomorrow	Pair Corr
0.39	OPHLF	Ono Pharmaceutical	Pair Corr
0.35	DRDGF	Drdgold	Pair Corr
0.32	GEBHF	Genting Berhad	Pair Corr

Related Correlations Analysis

	SWVL	SPPL	CSAI	VBIX	CREX	GREE	TGHL	NTCL	ANY	EBON
SWVL		-0.78	0.23	0.03	-0.47	-0.6	0.07	0.79	-0.39	-0.47	SWVL
SPPL	-0.78		-0.17	0.24	0.45	0.83	-0.29	-0.77	0.6	0.65	SPPL
CSAI	0.23	-0.17		-0.03	0.04	-0.17	-0.23	0.11	-0.19	-0.08	CSAI
VBIX	0.03	0.24	-0.03		0.23	0.45	-0.15	0.01	0.51	0.25	VBIX
CREX	-0.47	0.45	0.04	0.23		0.46	-0.54	-0.73	0.16	-0.08	CREX
GREE	-0.6	0.83	-0.17	0.45	0.46		-0.33	-0.64	0.74	0.68	GREE
TGHL	0.07	-0.29	-0.23	-0.15	-0.54	-0.33		0.46	0.1	0.2	TGHL
NTCL	0.79	-0.77	0.11	0.01	-0.73	-0.64	0.46		-0.33	-0.24	NTCL
ANY	-0.39	0.6	-0.19	0.51	0.16	0.74	0.1	-0.33		0.73	ANY
EBON	-0.47	0.65	-0.08	0.25	-0.08	0.68	0.2	-0.24	0.73		EBON
	SWVL	SPPL	CSAI	VBIX	CREX	GREE	TGHL	NTCL	ANY	EBON

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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

GREE	+ 0.83	SPPL
NTCL	+ 0.79	SWVL
ANY	+ 0.74	GREE
EBON	+ 0.73	ANY
EBON	+ 0.68	GREE
EBON	+ 0.65	SPPL

High negative correlations

SPPL	- 0.78	SWVL
NTCL	- 0.77	SPPL
NTCL	- 0.73	CREX
NTCL	- 0.64	GREE
GREE	- 0.6	SWVL
TGHL	- 0.54	CREX

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
SWVL	3.09	(0.44)	0.00	(0.39)	0.00	0.00	5.43	(5.98)	21.02
SPPL	4.49	0.87	0.20	0.77	3.77	(5.48)	13.16	(5.52)	33.21
CSAI	6.12	(0.15)	0.00	(0.05)	0.00	0.00	15.13	(11.19)	44.14
VBIX	3.88	(0.52)	0.00	0.52	0.00	0.00	7.18	(6.74)	59.97
CREX	2.83	0.07	0.02	0.14	3.05	(3.73)	9.13	(6.00)	23.79
GREE	5.81	(0.09)	0.02	0.05	6.53	(6.84)	13.50	(10.22)	57.17
TGHL	5.53	(2.58)	0.00	2.66	0.00	0.00	6.38	(14.08)	58.63
NTCL	3.20	(0.69)	0.00	0.93	0.00	0.00	6.31	(7.30)	18.45
ANY	4.61	(0.33)	0.00	(0.10)	0.00	0.00	11.76	(9.09)	32.96
EBON	3.68	(0.15)	0.00	0.02	4.37	(3.99)	7.43	(6.80)	27.07

SPS Commerce Corporate Management

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

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