Zoom Video Correlations

0A1O Stock

82.85 0.72 0.88%

The current 90-days correlation between Zoom Video Communications and Endeavour Mining Corp is -0.15 (i.e., Good diversification). The correlation of Zoom Video 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.

Zoom Video Correlation With Market

Average diversification

The correlation between Zoom Video Communications and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Zoom Video Communications and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Zoom Video could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Zoom Video when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Zoom Video - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Zoom Video Communications to buy it.

Moving against Zoom Stock

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0.57	0QK6	Logitech International	Pair Corr
0.54	0JPO	KLA Corp	Pair Corr
0.46	MLVN	Malvern International	Pair Corr
0.39	SHEL	Shell plc	Pair Corr
0.38	0NL3	Trelleborg AB ser	Pair Corr

Related Correlations Analysis

	EDV	0W19	CRTM	DATA	0LEE	0Y9S	VINO
EDV		-0.23	-0.58	-0.34	-0.52	0.81	0.53	EDV
0W19	-0.23		0.22	0.04	0.54	-0.42	-0.28	0W19
CRTM	-0.58	0.22		0.33	0.63	-0.81	-0.69	CRTM
DATA	-0.34	0.04	0.33		0.53	-0.52	-0.68	DATA
0LEE	-0.52	0.54	0.63	0.53		-0.79	-0.86	0LEE
0Y9S	0.81	-0.42	-0.81	-0.52	-0.79		0.75	0Y9S
VINO	0.53	-0.28	-0.69	-0.68	-0.86	0.75		VINO
	EDV	0W19	CRTM	DATA	0LEE	0Y9S	VINO

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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

0Y9S	+ 0.81	EDV
VINO	+ 0.75	0Y9S
0LEE	+ 0.63	CRTM
0LEE	+ 0.54	0W19
VINO	+ 0.53	EDV
0LEE	+ 0.53	DATA

High negative correlations

VINO	- 0.86	0LEE
0Y9S	- 0.81	CRTM
0Y9S	- 0.79	0LEE
VINO	- 0.69	CRTM
VINO	- 0.68	DATA
CRTM	- 0.58	EDV

Risk-Adjusted Indicators

There is a big difference between Zoom Stock performing well and Zoom Video 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 Zoom Video'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
EDV	1.60	0.34	0.19	(2.13)	1.67	(1.80)	3.68	(3.47)	12.42
0W19	1.69	(0.07)	0.00	(0.14)	0.00	0.00	4.81	(2.96)	10.71
CRTM	0.81	(0.07)	0.00	0.38	0.00	0.00	2.94	(1.96)	20.12
DATA	1.46	(0.33)	0.00	(0.94)	0.00	0.00	3.20	(3.11)	17.40
0LEE	1.49	(0.46)	0.00	2.01	0.00	0.00	2.97	(2.42)	21.75
0Y9S	1.19	0.34	0.27	0.48	0.97	(1.40)	3.30	(1.79)	9.49
VINO	1.89	0.60	0.23	4.60	1.15	(4.50)	6.74	(3.17)	14.64

Zoom Video Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Zoom Video stock to make a market-neutral strategy. Peer analysis of Zoom Video could also be used in its relative valuation, which is a method of valuing Zoom Video by comparing valuation metrics with similar companies.

Endeavour Mining Corp Datagroup SE Critical Metals Plc GlobalData PLC Teradata Corp Check Point Software Virgin Wines UK American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp Chevron Corp

Risk & Return

Correlation

Zoom Video Corporate Management

Elected by the shareholders, the Zoom Video's board of directors comprises two types of representatives: Zoom Video inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Zoom. The board's role is to monitor Zoom Video's management team and ensure that shareholders' interests are well served. Zoom Video'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, Zoom Video's outside directors are responsible for providing unbiased perspectives on the board's policies.

Kelly Steckelberg	Chief Officer	Profile
Lynn Haaland	Chief Officer	Profile
Michelle Chang	Chief Officer	Profile
Xuedong Huang	Chief Officer	Profile
Brendan Ittelson	Chief Officer	Profile

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