Akamai Technologies Correlations

AKAM Stock

USD 97.93 3.91 4.16%

The current 90-days correlation between Akamai Technologies and Fleetcor Technologies is -0.07 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Akamai Technologies moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Akamai Technologies moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Akamai Technologies Correlation With Market

Weak diversification

The correlation between Akamai Technologies and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Akamai Technologies and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Akamai Technologies. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

To learn how to invest in Akamai Stock, please use our How to Invest in Akamai Technologies guide.

Moving together with Akamai Stock

0.66	MQ	Marqeta	Pair Corr
0.65	VERI	Veritone	Pair Corr
0.76	VRNS	Varonis Systems	Pair Corr

Moving against Akamai Stock

0.81	FLYW	Flywire Corp	Pair Corr
0.7	FIVN	Five9 Inc	Pair Corr
0.62	EVTC	Evertec	Pair Corr
0.61	NN	Nextnav Acquisition Corp	Pair Corr
0.54	EVCM	EverCommerce	Pair Corr
0.39	GB	Global Blue Group	Pair Corr
0.38	CETXP	Cemtrex Pref	Pair Corr
0.36	ZS	Zscaler	Pair Corr
0.8	LIDRW	AEye Inc	Pair Corr
0.68	FTNT	Fortinet	Pair Corr
0.64	BOX	Box Inc Earnings Call Tomorrow	Pair Corr
0.62	GDDY	Godaddy	Pair Corr
0.55	GEN	Gen Digital	Pair Corr
0.54	DLO	Dlocal	Pair Corr
0.52	WIX	WixCom	Pair Corr
0.47	MDB	MongoDB Earnings Call Tomorrow	Pair Corr
0.39	IOT	Samsara	Pair Corr
0.32	DBX	Dropbox	Pair Corr

Related Correlations Analysis

	FLT	CHKP	VRSN	QLYS	FFIV	GDDY	CYBR	DOX	TENB	RPD
FLT		0.31	0.12	-0.38	-0.05	-0.47	-0.32	0.52	-0.04	0.0	FLT
CHKP	0.31		0.48	-0.55	-0.58	-0.49	-0.14	0.16	0.21	-0.26	CHKP
VRSN	0.12	0.48		0.16	-0.04	0.03	0.25	0.37	0.47	0.21	VRSN
QLYS	-0.38	-0.55	0.16		0.8	0.88	0.73	0.15	0.5	0.62	QLYS
FFIV	-0.05	-0.58	-0.04	0.8		0.84	0.73	0.25	0.46	0.79	FFIV
GDDY	-0.47	-0.49	0.03	0.88	0.84		0.88	0.07	0.57	0.75	GDDY
CYBR	-0.32	-0.14	0.25	0.73	0.73	0.88		0.12	0.73	0.77	CYBR
DOX	0.52	0.16	0.37	0.15	0.25	0.07	0.12		0.44	0.46	DOX
TENB	-0.04	0.21	0.47	0.5	0.46	0.57	0.73	0.44		0.72	TENB
RPD	0.0	-0.26	0.21	0.62	0.79	0.75	0.77	0.46	0.72		RPD
	FLT	CHKP	VRSN	QLYS	FFIV	GDDY	CYBR	DOX	TENB	RPD

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

GDDY	+ 0.88	QLYS
CYBR	+ 0.88	GDDY
GDDY	+ 0.84	FFIV
FFIV	+ 0.8	QLYS
RPD	+ 0.79	FFIV
RPD	+ 0.77	CYBR

High negative correlations

FFIV	- 0.58	CHKP
QLYS	- 0.55	CHKP
GDDY	- 0.49	CHKP
GDDY	- 0.47	FLT
QLYS	- 0.38	FLT
CYBR	- 0.32	FLT

Risk-Adjusted Indicators

There is a big difference between Akamai Stock performing well and Akamai Technologies 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 Akamai Technologies' 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
FLT	1.09	(0.03)	0.00	0.55	0.00	0.00	1.95	(1.95)	9.73
CHKP	1.10	(0.16)	0.00	(0.06)	0.00	0.00	2.75	(1.86)	17.62
VRSN	0.93	(0.05)	(0.08)	0.06	1.01	(1.08)	2.06	(1.96)	6.38
QLYS	1.77	(0.02)	0.14	0.12	1.38	(2.23)	3.17	(2.59)	26.78
FFIV	0.97	0.25	0.20	0.45	0.79	(1.12)	1.83	(1.77)	12.18
GDDY	1.20	0.14	0.09	0.26	1.38	(1.27)	3.13	(2.10)	6.71
CYBR	1.51	0.09	0.05	0.21	1.64	(1.60)	3.32	(2.86)	8.13
DOX	0.79	(0.07)	(0.07)	0.04	1.29	(0.72)	1.76	(1.55)	7.31
TENB	1.22	(0.14)	(0.06)	0.03	1.57	(1.23)	2.52	(2.63)	10.29
RPD	1.70	0.02	0.05	0.14	1.63	(1.98)	4.23	(2.74)	10.83

Akamai Technologies Corporate Management

Anthony Williams	Chief VP	Profile
Charlie Rice	Senior Development	Profile
Kim Jackson	Executive Officer	Profile
Mani Sundaram	Executive Group	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC