Altair Engineering Correlations

ALTR Stock

USD 111.75 0.21 0.19%

The current 90-days correlation between Altair Engineering and Global Blue Group is -0.05 (i.e., Good diversification). The correlation of Altair Engineering 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.

Altair Engineering Correlation With Market

Average diversification

The correlation between Altair Engineering 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 Altair Engineering 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 Altair Engineering. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

To learn how to invest in Altair Stock, please use our How to Invest in Altair Engineering guide.

Moving together with Altair Stock

0.72	KC	Kingsoft Cloud Holdings	Pair Corr
0.8	VCSA	Vacasa Inc	Pair Corr

Moving against Altair Stock

0.8	AI	C3 Ai Inc	Pair Corr
0.77	DJCO	Daily Journal Corp	Pair Corr
0.71	WK	Workiva	Pair Corr
0.69	BL	Blackline	Pair Corr
0.69	VERB	Verb Technology	Pair Corr
0.67	WALD	Waldencast Acquisition	Pair Corr
0.65	DOCU	DocuSign	Pair Corr
0.64	VMEO	Vimeo Inc	Pair Corr
0.62	WBTN	WEBTOON Entertainment	Pair Corr
0.54	EB	Eventbrite Class A	Pair Corr
0.54	VERX	Vertex	Pair Corr
0.5	WDAY	Workday	Pair Corr
0.47	ZM	Zoom Video Communications	Pair Corr
0.47	DSGX	Descartes Systems	Pair Corr
0.46	ELWS	Earlyworks Co,	Pair Corr
0.42	PD	Pagerduty	Pair Corr
0.35	EGAN	eGain	Pair Corr
0.32	VTEX	VTEX	Pair Corr
0.89	CYN	Cyngn Inc	Pair Corr
0.83	FICO	Fair Isaac	Pair Corr
0.77	ANY	Sphere 3D Corp	Pair Corr
0.73	DAY	Dayforce	Pair Corr
0.7	FSLY	Fastly Inc	Pair Corr
0.7	CXAIW	CXApp Inc	Pair Corr
0.69	ETWO	E2open Parent Holdings	Pair Corr
0.68	DMN	Damon Common Stock	Pair Corr

Related Correlations Analysis

	GB	EVCM	CSGS	CCSI	IIIV	CCCS	SPSC	EVTC	NTCT	AVDX
GB		-0.61	-0.01	-0.24	-0.14	-0.44	-0.29	0.13	-0.37	-0.45	GB
EVCM	-0.61		-0.48	0.04	-0.05	0.81	0.64	-0.29	0.24	0.76	EVCM
CSGS	-0.01	-0.48		0.48	0.71	-0.67	-0.76	0.31	0.42	-0.57	CSGS
CCSI	-0.24	0.04	0.48		0.75	0.09	0.06	-0.43	0.82	0.28	CCSI
IIIV	-0.14	-0.05	0.71	0.75		-0.19	-0.35	-0.14	0.75	-0.07	IIIV
CCCS	-0.44	0.81	-0.67	0.09	-0.19		0.91	-0.62	0.26	0.87	CCCS
SPSC	-0.29	0.64	-0.76	0.06	-0.35	0.91		-0.67	0.16	0.89	SPSC
EVTC	0.13	-0.29	0.31	-0.43	-0.14	-0.62	-0.67		-0.52	-0.71	EVTC
NTCT	-0.37	0.24	0.42	0.82	0.75	0.26	0.16	-0.52		0.42	NTCT
AVDX	-0.45	0.76	-0.57	0.28	-0.07	0.87	0.89	-0.71	0.42		AVDX
	GB	EVCM	CSGS	CCSI	IIIV	CCCS	SPSC	EVTC	NTCT	AVDX

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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

SPSC	+ 0.91	CCCS
AVDX	+ 0.89	SPSC
AVDX	+ 0.87	CCCS
NTCT	+ 0.82	CCSI
CCCS	+ 0.81	EVCM
AVDX	+ 0.76	EVCM

High negative correlations

SPSC	- 0.76	CSGS
AVDX	- 0.71	EVTC
EVTC	- 0.67	SPSC
CCCS	- 0.67	CSGS
EVTC	- 0.62	CCCS
EVCM	- 0.61	GB

Risk-Adjusted Indicators

There is a big difference between Altair Stock performing well and Altair Engineering 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 Altair Engineering'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
GB	1.78	0.34	0.17	3.93	1.74	(2.15)	3.86	(3.54)	18.44
EVCM	1.57	(0.19)	0.00	(0.22)	0.00	0.00	3.22	(3.52)	10.24
CSGS	1.24	0.24	0.16	0.21	1.41	(1.29)	2.82	(2.16)	8.74
CCSI	1.99	0.09	0.02	0.00	3.01	(1.83)	4.01	(4.21)	20.81
IIIV	1.56	0.22	0.13	0.20	1.66	(1.72)	3.09	(2.66)	13.80
CCCS	1.05	(0.42)	0.00	(0.88)	0.00	0.00	1.50	(3.06)	7.62
SPSC	1.57	(0.52)	0.00	(0.84)	0.00	0.00	2.35	(3.40)	17.08
EVTC	1.25	0.14	0.12	0.20	1.33	(1.53)	2.03	(1.85)	18.48
NTCT	1.42	0.02	0.00	(0.05)	0.00	0.00	2.20	(3.31)	16.99
AVDX	1.96	(0.29)	0.00	(0.39)	0.00	0.00	3.09	(3.93)	23.74

Altair Engineering Corporate Management

Matthew Brown	Chief Officer	Profile
Nelson Dias	Chief Officer	Profile
Stephanie Buckner	Chief Officer	Profile
Srikanth Mahalingam	Chief Officer	Profile
Gilma Saravia	Chief Officer	Profile
Martin Nichols	Chief Officer	Profile
David Simon	Senior Relations	Profile

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