Digital Turbine Correlations

APPS Stock

USD 3.34 0.11 3.19%

The current 90-days correlation between Digital Turbine and C3 Ai Inc is 0.13 (i.e., Average diversification). The correlation of Digital Turbine 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.

Digital Turbine Correlation With Market

Average diversification

The correlation between Digital Turbine and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Digital Turbine 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 Digital Turbine. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

For more information on how to buy Digital Stock please use our How to Invest in Digital Turbine guide.

Moving together with Digital Stock

0.84	KC	Kingsoft Cloud Holdings	Pair Corr
0.74	DOMO	Domo Inc	Pair Corr

Moving against Digital Stock

0.68	DJCO	Daily Journal Corp	Pair Corr
0.67	WK	Workiva	Pair Corr
0.61	VERB	Verb Technology	Pair Corr
0.46	BL	Blackline	Pair Corr
0.41	DOCU	DocuSign Tech Boost	Pair Corr
0.37	AI	C3 Ai Inc	Pair Corr
0.32	VERX	Vertex	Pair Corr
0.67	FICO	Fair Isaac	Pair Corr
0.64	ANY	Sphere 3D Corp	Pair Corr
0.56	WBTN	WEBTOON Entertainment	Pair Corr
0.54	FTFT	Future Fintech Group	Pair Corr
0.53	CYN	Cyngn Inc	Pair Corr
0.53	DMN	Damon Common Stock	Pair Corr
0.53	FRGT	Freight Technologies	Pair Corr
0.49	DAY	Dayforce Sell-off Trend	Pair Corr
0.48	BMR	Beamr Imaging	Pair Corr
0.4	WFCF	Where Food Comes	Pair Corr
0.39	FSLY	Fastly Inc	Pair Corr

Related Correlations Analysis

	ADSK	INTU	ZM	SNOW	NOW	AI	SHOP	CRM	WDAY
ADSK		0.28	0.88	0.63	0.86	0.85	0.76	0.94	0.69	ADSK
INTU	0.28		0.23	-0.31	0.55	0.59	-0.07	0.47	0.41	INTU
ZM	0.88	0.23		0.58	0.71	0.78	0.74	0.87	0.69	ZM
SNOW	0.63	-0.31	0.58		0.33	0.27	0.84	0.46	0.5	SNOW
NOW	0.86	0.55	0.71	0.33		0.89	0.43	0.94	0.56	NOW
AI	0.85	0.59	0.78	0.27	0.89		0.52	0.91	0.62	AI
SHOP	0.76	-0.07	0.74	0.84	0.43	0.52		0.62	0.68	SHOP
CRM	0.94	0.47	0.87	0.46	0.94	0.91	0.62		0.68	CRM
WDAY	0.69	0.41	0.69	0.5	0.56	0.62	0.68	0.68		WDAY
	ADSK	INTU	ZM	SNOW	NOW	AI	SHOP	CRM	WDAY

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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

CRM	+ 0.94	ADSK
CRM	+ 0.94	NOW
CRM	+ 0.91	AI
AI	+ 0.89	NOW
ZM	+ 0.88	ADSK
CRM	+ 0.87	ZM

High negative correlations

SNOW	- 0.31	INTU
SHOP	- 0.07	INTU

Risk-Adjusted Indicators

There is a big difference between Digital Stock performing well and Digital Turbine 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 Digital Turbine'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
ADSK	1.25	(0.13)	(0.20)	2.43	(2.88)	8.00
INTU	1.46	(0.10)	(0.23)	2.29	(2.35)	17.47
ZM	1.34	(0.13)	(0.27)	2.44	(3.30)	16.58
SNOW	2.10	(0.02)	(0.09)	3.60	(3.93)	19.02
NOW	1.79	(0.34)	(0.34)	2.61	(4.82)	14.05
AI	3.24	(0.63)	(0.61)	5.97	(7.40)	19.50
SHOP	2.54	(0.03)	(0.09)	4.70	(6.41)	16.75
CRM	1.40	(0.27)	(0.32)	2.72	(3.81)	8.88
WDAY	1.58	(0.04)	(0.12)	2.93	(3.27)	10.21

Digital Turbine Corporate Management

Matthew Gillis	Pres Officer	Profile
Joshua Kinsell	Chief Officer	Profile
David Wesch	Chief Accounting Officer, Controller	Profile
Barrett Garrison	Strategic Advisor	Profile
Michael Miller	Chief Officer	Profile
Senthilkumaran Kanagaratnam	Chief Officer	Profile
Senthil Kumaran	Chief Officer	Profile

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