Zoom Video Correlations

5ZM Stock

72.11 1.73 2.46%

The current 90-days correlation between Zoom Video Communications and Quaker Chemical is 0.22 (i.e., Modest 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 0.19 (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 together with Zoom Stock

0.71	APC	Apple Inc	Pair Corr
0.7	APC	Apple Inc	Pair Corr
0.71	APC	Apple Inc	Pair Corr
0.7	APC	Apple Inc	Pair Corr
0.72	APC	Apple Inc	Pair Corr
0.67	APC	Apple Inc	Pair Corr
0.74	MSF	Microsoft	Pair Corr
0.74	MSF	Microsoft	Pair Corr
0.73	MSF	Microsoft	Pair Corr
0.74	MSF	Microsoft	Pair Corr
0.61	TEY	Teradyne	Pair Corr
0.77	03F	IDP EDUCATION LTD	Pair Corr

Moving against Zoom Stock

0.54

DBPE

Xtrackers LevDAX

Pair Corr

Related Correlations Analysis

	ITB	PL0	QUC	JAT	SUI	JATA	NH5	DHG
ITB		0.59	-0.1	-0.12	0.52	-0.27	0.26	0.39	ITB
PL0	0.59		-0.25	-0.29	0.49	-0.61	0.44	0.25	PL0
QUC	-0.1	-0.25		-0.11	-0.3	-0.01	-0.18	-0.74	QUC
JAT	-0.12	-0.29	-0.11		0.04	0.84	-0.18	0.0	JAT
SUI	0.52	0.49	-0.3	0.04		-0.09	0.27	0.3	SUI
JATA	-0.27	-0.61	-0.01	0.84	-0.09		-0.31	-0.06	JATA
NH5	0.26	0.44	-0.18	-0.18	0.27	-0.31		0.23	NH5
DHG	0.39	0.25	-0.74	0.0	0.3	-0.06	0.23		DHG
	ITB	PL0	QUC	JAT	SUI	JATA	NH5	DHG

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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

JATA	+ 0.84	JAT
PL0	+ 0.59	ITB
SUI	+ 0.52	ITB
SUI	+ 0.49	PL0
NH5	+ 0.44	PL0
DHG	+ 0.39	ITB

High negative correlations

DHG	- 0.74	QUC
JATA	- 0.61	PL0
NH5	- 0.31	JATA
SUI	- 0.3	QUC
JAT	- 0.29	PL0
JATA	- 0.27	ITB

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
ITB	0.67	0.09	0.09	2.58	0.88	(0.68)	1.28	(1.27)	4.68
PL0	1.53	0.42	0.30	(3.38)	0.88	(2.72)	2.61	(1.68)	32.59
QUC	1.56	(0.26)	0.00	0.83	0.00	0.00	3.01	(3.70)	10.60
JAT	1.05	0.02	0.02	(0.07)	1.48	(1.05)	2.22	(2.30)	8.00
SUI	1.11	0.16	0.12	2.55	0.97	(1.63)	1.91	(1.85)	15.37
JATA	0.86	(0.03)	0.00	0.18	0.00	0.00	2.56	(1.72)	5.91
NH5	0.59	0.03	0.03	0.10	0.76	(0.68)	2.11	(1.60)	4.34
DHG	1.59	0.35	0.24	1.01	1.12	(2.21)	4.28	(2.11)	18.43

Be your own money manager

Our tools can tell you how much better you can do entering a position in Zoom Video without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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