Cerence Correlations

CRNC Stock

USD 19.33 11.40 143.76%

The current 90-days correlation between Cerence and Alkami Technology is 0.12 (i.e., Average diversification). The correlation of Cerence 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.

Cerence Correlation With Market

Average diversification

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

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

Moving together with Cerence Stock

0.68	U	Unity Software	Pair Corr
0.61	DJCO	Daily Journal Corp	Pair Corr
0.8	AI	C3 Ai Inc	Pair Corr
0.68	BL	Blackline	Pair Corr
0.61	DV	DoubleVerify Holdings	Pair Corr
0.67	ML	MoneyLion	Pair Corr
0.81	WK	Workiva	Pair Corr
0.63	ZM	Zoom Video Communications	Pair Corr
0.75	DOCU	DocuSign	Pair Corr
0.68	VERX	Vertex	Pair Corr
0.63	DSGX	Descartes Systems	Pair Corr
0.72	DUOL	Duolingo	Pair Corr
0.72	DUOT	Duos Technologies	Pair Corr
0.75	EGAN	eGain	Pair Corr
0.74	ENFN	Enfusion	Pair Corr
0.84	WFCF	Where Food Comes	Pair Corr
0.77	ESTC	Elastic NV	Pair Corr
0.79	EXFY	Expensify	Pair Corr

Moving against Cerence Stock

0.49	VERB	VERB TECHNOLOGY PANY	Pair Corr
0.74	XELAP	Exela Technologies	Pair Corr
0.7	VTEX	VTEX	Pair Corr
0.65	EVOL	Evolving Systems	Pair Corr
0.6	SBIGW	SpringBig Holdings	Pair Corr
0.45	ETWO	E2open Parent Holdings Earnings Call This Week	Pair Corr
0.44	ILLRW	Triller Group Symbol Change	Pair Corr

Related Correlations Analysis

	ALKT	AMSWA	ADEA	MNTV	PYCR	ENV	BLKB	DV	BRZE	PCTY
ALKT		0.81	0.52	0.62	0.73	-0.05	-0.07	0.7	0.62	0.75	ALKT
AMSWA	0.81		0.62	0.58	0.83	0.23	-0.4	0.74	0.78	0.76	AMSWA
ADEA	0.52	0.62		0.34	0.73	0.5	-0.61	0.48	0.74	0.45	ADEA
MNTV	0.62	0.58	0.34		0.41	-0.08	-0.16	0.41	0.34	0.45	MNTV
PYCR	0.73	0.83	0.73	0.41		0.39	-0.46	0.91	0.95	0.86	PYCR
ENV	-0.05	0.23	0.5	-0.08	0.39		-0.51	0.23	0.6	0.04	ENV
BLKB	-0.07	-0.4	-0.61	-0.16	-0.46	-0.51		-0.17	-0.54	-0.18	BLKB
DV	0.7	0.74	0.48	0.41	0.91	0.23	-0.17		0.84	0.93	DV
BRZE	0.62	0.78	0.74	0.34	0.95	0.6	-0.54	0.84		0.73	BRZE
PCTY	0.75	0.76	0.45	0.45	0.86	0.04	-0.18	0.93	0.73		PCTY
	ALKT	AMSWA	ADEA	MNTV	PYCR	ENV	BLKB	DV	BRZE	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

BRZE	+ 0.95	PYCR
PCTY	+ 0.93	DV
DV	+ 0.91	PYCR
PCTY	+ 0.86	PYCR
BRZE	+ 0.84	DV
PYCR	+ 0.83	AMSWA

High negative correlations

BLKB	- 0.61	ADEA
BRZE	- 0.54	BLKB
BLKB	- 0.51	ENV
BLKB	- 0.46	PYCR
BLKB	- 0.4	AMSWA
PCTY	- 0.18	BLKB

Risk-Adjusted Indicators

There is a big difference between Cerence Stock performing well and Cerence 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 Cerence'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
ALKT	2.08	0.31	0.11	0.88	2.59	(2.23)	5.03	(5.27)	12.66
AMSWA	1.44	0.29	0.19	1.32	1.18	(1.67)	3.79	(2.53)	10.40
ADEA	1.97	0.33	0.07	(2.00)	3.66	(2.07)	4.95	(3.11)	28.06
MNTV	0.90	0.49	2.57	5.24	0.00	(1.77)	0.43	(0.21)	20.63
PYCR	1.46	0.43	0.21	1.35	1.51	(1.58)	3.12	(2.96)	7.75
ENV	0.09	0.00	(0.10)	0.07	0.09	(0.10)	0.22	(0.22)	0.68
BLKB	1.50	(0.16)	0.00	(0.24)	0.00	0.00	2.83	(2.68)	16.70
DV	1.53	0.24	0.13	0.48	1.66	(1.69)	3.51	(2.49)	10.96
BRZE	1.92	0.52	0.26	(3.98)	1.56	(2.28)	5.06	(3.08)	10.65
PCTY	1.36	0.31	0.17	1.41	1.40	(1.48)	3.31	(2.80)	12.80

Cerence Corporate Management

Katherine Roman	Corporate VP	Profile
Dennis Close	VP Treasurer	Profile
Nils Lenke	VP Applications	Profile
Bridget Collins	Chief Officer	Profile
Daniel Tempesta	Chief Officer	Profile
Sachin Sahney	Chief Officer	Profile

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