Bentley Systems Correlations

BSY Stock

USD 41.65 0.36 0.86%

The current 90-days correlation between Bentley Systems and Appfolio is 0.4 (i.e., Very weak diversification). The correlation of Bentley Systems 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.

Bentley Systems Correlation With Market

Very weak diversification

The correlation between Bentley Systems and DJI is 0.48 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bentley Systems 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 Bentley Systems. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state.

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

Moving together with Bentley Stock

0.67	DJCO	Daily Journal Corp	Pair Corr
0.9	AI	C3 Ai Inc	Pair Corr
0.72	BL	Blackline	Pair Corr
0.79	DV	DoubleVerify Holdings	Pair Corr
0.92	EB	Eventbrite Class A	Pair Corr
0.66	PD	Pagerduty Tech Boost	Pair Corr
0.66	WK	Workiva	Pair Corr
0.81	ZM	Zoom Video Communications	Pair Corr
0.79	DOCU	DocuSign Tech Boost	Pair Corr
0.83	VERX	Vertex	Pair Corr
0.86	DSGX	Descartes Systems	Pair Corr
0.83	VMEO	Vimeo Inc	Pair Corr
0.8	VTEX	VTEX	Pair Corr
0.61	EGAN	eGain	Pair Corr
0.79	EGHT	8x8 Common Stock	Pair Corr
0.79	ELWS	Earlyworks Co,	Pair Corr
0.81	WBTN	WEBTOON Entertainment	Pair Corr
0.66	WDAY	Workday	Pair Corr
0.7	WFCF	Where Food Comes	Pair Corr
0.83	ETWO	E2open Parent Holdings	Pair Corr
0.77	ANY	Sphere 3D Corp	Pair Corr

Moving against Bentley Stock

0.51	KC	Kingsoft Cloud Holdings	Pair Corr
0.49	VCSA	Vacasa Inc	Pair Corr
0.41	QH	Quhuo	Pair Corr
0.38	ZI	ZoomInfo Technologies	Pair Corr
0.46	ENFN	Enfusion	Pair Corr

Related Correlations Analysis

	APPF	WK	ALRM	NCNO	AZPN	TYL	BLKB	SSNC	MANH	PCTY
APPF		0.87	0.6	0.73	-0.91	-0.18	0.68	-0.82	0.96	-0.06	APPF
WK	0.87		0.5	0.71	-0.87	-0.29	0.69	-0.83	0.87	-0.07	WK
ALRM	0.6	0.5		0.79	-0.39	0.41	0.77	-0.36	0.6	0.41	ALRM
NCNO	0.73	0.71	0.79		-0.61	0.36	0.84	-0.44	0.74	0.49	NCNO
AZPN	-0.91	-0.87	-0.39	-0.61		0.38	-0.51	0.86	-0.93	0.23	AZPN
TYL	-0.18	-0.29	0.41	0.36	0.38		0.19	0.56	-0.19	0.83	TYL
BLKB	0.68	0.69	0.77	0.84	-0.51	0.19		-0.43	0.65	0.47	BLKB
SSNC	-0.82	-0.83	-0.36	-0.44	0.86	0.56	-0.43		-0.82	0.45	SSNC
MANH	0.96	0.87	0.6	0.74	-0.93	-0.19	0.65	-0.82		-0.05	MANH
PCTY	-0.06	-0.07	0.41	0.49	0.23	0.83	0.47	0.45	-0.05		PCTY
	APPF	WK	ALRM	NCNO	AZPN	TYL	BLKB	SSNC	MANH	PCTY

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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

MANH	+ 0.96	APPF
WK	+ 0.87	APPF
MANH	+ 0.87	WK
SSNC	+ 0.86	AZPN
BLKB	+ 0.84	NCNO
PCTY	+ 0.83	TYL

High negative correlations

MANH	- 0.93	AZPN
AZPN	- 0.91	APPF
AZPN	- 0.87	WK
SSNC	- 0.83	WK
MANH	- 0.82	SSNC
SSNC	- 0.82	APPF

Risk-Adjusted Indicators

There is a big difference between Bentley Stock performing well and Bentley Systems 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 Bentley Systems' 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
APPF	1.56	(0.18)	0.00	(0.25)	0.00	0.00	2.40	(3.87)	11.12
WK	2.01	(0.15)	0.00	(0.27)	0.00	0.00	3.72	(3.42)	17.17
ALRM	1.12	(0.17)	0.00	(0.41)	0.00	0.00	1.70	(2.18)	5.79
NCNO	1.46	(0.24)	0.00	(0.25)	0.00	0.00	2.05	(2.98)	9.37
AZPN	0.51	0.07	0.19	(2.42)	0.65	(0.59)	1.12	(0.87)	6.87
TYL	1.30	(0.04)	0.00	(0.12)	0.00	0.00	2.07	(2.76)	9.09
BLKB	1.35	(0.29)	0.00	(0.61)	0.00	0.00	2.18	(3.36)	14.16
SSNC	0.97	0.17	0.14	0.15	1.13	(1.05)	2.09	(2.19)	9.48
MANH	2.14	(0.67)	0.00	(0.70)	0.00	0.00	3.03	(3.98)	27.65
PCTY	1.48	(0.01)	0.00	(0.09)	0.00	0.00	2.28	(2.98)	8.44

Bentley Systems Corporate Management

Brock Ballard	Chief Officer	Profile
Thomas Trimback	Chief Controller	Profile
Nicholas Cumins	Chief Officer	Profile
David Hollister	Chief Officer	Profile
John Riddle	Senior Global	Profile
Michael Campbell	Chief Officer	Profile

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