Shotspotter Correlations

SSTI Stock

USD 12.93 0.49 3.94%

The current 90-days correlation between Shotspotter and Red Violet is 0.28 (i.e., Modest diversification). The correlation of Shotspotter 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.

Shotspotter Correlation With Market

Good diversification

The correlation between Shotspotter and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Shotspotter and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Shotspotter Stock

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

For more detail on how to invest in Shotspotter Stock please use our How to Invest in Shotspotter guide.

Moving together with Shotspotter Stock

0.77	ZM	Zoom Video Communications	Pair Corr
0.69	VERX	Vertex	Pair Corr
0.89	DUOL	Duolingo	Pair Corr
0.73	VMEO	Vimeo Inc	Pair Corr
0.8	WDAY	Workday	Pair Corr
0.69	WETO	Webus International	Pair Corr
0.69	FICO	Fair Isaac	Pair Corr

Moving against Shotspotter Stock

0.81	YB	Yuanbao American Dep	Pair Corr
0.76	U	Unity Software	Pair Corr
0.7	DOMO	Domo Inc Earnings Call This Week	Pair Corr
0.62	KC	Kingsoft Cloud Holdings	Pair Corr
0.55	DV	DoubleVerify Holdings	Pair Corr
0.45	WK	Workiva	Pair Corr
0.32	PD	Pagerduty	Pair Corr
0.63	ELWS	Earlyworks Co,	Pair Corr
0.58	VERB	Verb Technology	Pair Corr
0.57	ETWO	E2open Parent Holdings	Pair Corr
0.43	EGHT	8x8 Common Stock	Pair Corr
0.36	WBTN	WEBTOON Entertainment	Pair Corr
0.78	BSY	Bentley Systems	Pair Corr
0.77	FRGE	Forge Global Holdings	Pair Corr
0.76	DBD	Diebold Nixdorf,	Pair Corr
0.37	CYN	Cyngn Inc	Pair Corr

Related Correlations Analysis

	RDVT	RMBS	LSCC	GNSS	SMTC
RDVT		-0.61	-0.52	-0.01	-0.59	RDVT
RMBS	-0.61		0.79	0.19	0.86	RMBS
LSCC	-0.52	0.79		0.29	0.67	LSCC
GNSS	-0.01	0.19	0.29		0.4	GNSS
SMTC	-0.59	0.86	0.67	0.4		SMTC
	RDVT	RMBS	LSCC	GNSS	SMTC

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

SMTC	+ 0.86	RMBS
LSCC	+ 0.79	RMBS
SMTC	+ 0.67	LSCC
SMTC	+ 0.4	GNSS
GNSS	+ 0.29	LSCC
GNSS	+ 0.19	RMBS

High negative correlations

RMBS	- 0.61	RDVT
SMTC	- 0.59	RDVT
LSCC	- 0.52	RDVT
GNSS	- 0.01	RDVT

Risk-Adjusted Indicators

There is a big difference between Shotspotter Stock performing well and Shotspotter 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 Shotspotter'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
RDVT	1.84	0.03	0.00	0.06	0.00	0.00	5.20	(3.45)	10.65
RMBS	2.05	0.59	0.16	(0.48)	2.15	(2.31)	4.59	(3.19)	21.78
LSCC	2.26	0.50	0.21	11.10	1.64	(3.20)	4.54	(2.90)	17.85
GNSS	2.54	0.25	0.06	0.83	2.85	(2.88)	4.69	(4.64)	14.57
SMTC	2.50	0.56	0.13	(0.56)	2.64	(2.79)	6.33	(4.86)	15.81

Shotspotter Corporate Executives

Elected by the shareholders, the Shotspotter's board of directors comprises two types of representatives: Shotspotter inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Shotspotter. The board's role is to monitor Shotspotter's management team and ensure that shareholders' interests are well served. Shotspotter's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Shotspotter's outside directors are responsible for providing unbiased perspectives on the board's policies.

Robert Calhoun	Co-Founder	Profile
Robert Showen	Founder, Chief Scientist	Profile
Jason Dunham	Co-Founder	Profile

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