Backblaze Correlations

BLZE Stock

USD 5.52 0.12 2.22%

The current 90-days correlation between Backblaze and Lesaka Technologies is 0.06 (i.e., Significant diversification). The correlation of Backblaze 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.

Backblaze Correlation With Market

Modest diversification

The correlation between Backblaze and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Backblaze 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 Backblaze. 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.

For information on how to trade Backblaze Stock refer to our How to Trade Backblaze Stock guide.

Moving together with Backblaze Stock

0.74	S	SentinelOne	Pair Corr
0.61	VRNT	Verint Systems Earnings Call This Week	Pair Corr
0.65	EVCM	EverCommerce	Pair Corr
0.76	FIVN	Five9 Inc	Pair Corr
0.61	FLYW	Flywire Corp	Pair Corr
0.67	BOX	Box Inc Sell-off Trend	Pair Corr
0.73	DLO	Dlocal	Pair Corr
0.8	IOT	Samsara	Pair Corr
0.87	MDB	MongoDB	Pair Corr
0.77	RXT	Rackspace Technology	Pair Corr

Moving against Backblaze Stock

0.43	GB	Global Blue Group	Pair Corr
0.36	MQ	Marqeta Tech Boost	Pair Corr
0.35	HCP	Hashicorp	Pair Corr
0.31	EVTC	Evertec	Pair Corr
0.39	XNET	Xunlei Ltd Adr Upward Rally	Pair Corr

Related Correlations Analysis

	ACIW	ESMT	RELY	EVCM	GB	LSAK	PRTH	CSGS	OSPN	SANG
ACIW		0.0	0.01	0.19	-0.26	0.06	-0.2	-0.01	0.15	0.17	ACIW
ESMT	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	ESMT
RELY	0.01	0.0		0.13	-0.1	0.11	0.69	0.35	0.6	0.41	RELY
EVCM	0.19	0.0	0.13		-0.68	0.59	0.34	-0.49	0.6	0.51	EVCM
GB	-0.26	0.0	-0.1	-0.68		-0.08	0.0	0.04	-0.37	-0.16	GB
LSAK	0.06	0.0	0.11	0.59	-0.08		0.41	-0.76	0.56	0.75	LSAK
PRTH	-0.2	0.0	0.69	0.34	0.0	0.41		0.01	0.44	0.36	PRTH
CSGS	-0.01	0.0	0.35	-0.49	0.04	-0.76	0.01		-0.34	-0.6	CSGS
OSPN	0.15	0.0	0.6	0.6	-0.37	0.56	0.44	-0.34		0.81	OSPN
SANG	0.17	0.0	0.41	0.51	-0.16	0.75	0.36	-0.6	0.81		SANG
	ACIW	ESMT	RELY	EVCM	GB	LSAK	PRTH	CSGS	OSPN	SANG

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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

SANG	+ 0.81	OSPN
SANG	+ 0.75	LSAK
PRTH	+ 0.69	RELY
OSPN	+ 0.6	RELY
OSPN	+ 0.6	EVCM
LSAK	+ 0.59	EVCM

High negative correlations

CSGS	- 0.76	LSAK
GB	- 0.68	EVCM
SANG	- 0.6	CSGS
CSGS	- 0.49	EVCM
OSPN	- 0.37	GB
OSPN	- 0.34	CSGS

Risk-Adjusted Indicators

There is a big difference between Backblaze Stock performing well and Backblaze 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 Backblaze'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
ACIW	1.55	0.10	0.00	(0.01)	0.00	0.00	3.64	(3.04)	11.88
ESMT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RELY	1.76	0.00	0.00	(0.10)	0.00	0.00	4.55	(3.39)	12.44
EVCM	1.61	(0.12)	0.00	(0.19)	0.00	0.00	3.22	(3.52)	10.24
GB	1.80	0.34	0.19	3.30	1.74	(2.16)	3.86	(3.54)	18.44
LSAK	1.69	(0.14)	0.00	(0.69)	0.00	0.00	3.68	(3.97)	11.38
PRTH	4.18	(0.08)	0.00	(0.35)	0.00	0.00	7.33	(11.78)	33.24
CSGS	1.26	0.28	0.18	0.23	1.37	(1.29)	2.80	(2.15)	8.74
OSPN	2.00	(0.11)	0.00	(0.22)	0.00	0.00	3.27	(5.00)	13.77
SANG	2.56	(0.39)	0.00	(1.63)	0.00	0.00	5.83	(5.86)	16.89

Backblaze Corporate Management

Gleb Budman	CEO CoFounder	Profile
Anu Patil	Vice Operations	Profile
Tina Cessna	Senior Engineering	Profile
Tim Nufire	Chief Director	Profile
Patrick Thomas	Vice Marketing	Profile
III CFA	Vice Relations	Profile

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