Cantaloupe Correlations

CTLP Stock

USD 9.05 0.34 3.62%

The current 90-days correlation between Cantaloupe and FiscalNote Holdings is 0.2 (i.e., Modest diversification). The correlation of Cantaloupe 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.

Cantaloupe Correlation With Market

Weak diversification

The correlation between Cantaloupe and DJI is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cantaloupe 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 Cantaloupe. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

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

Moving together with Cantaloupe Stock

0.7	BR	Broadridge Financial	Pair Corr
0.88	FI	Fiserv,	Pair Corr
0.72	IT	Gartner	Pair Corr
0.74	DMRC	Digimarc	Pair Corr
0.84	WEBB	Web Global Holdings	Pair Corr
0.76	ACN	Accenture plc Sell-off Trend	Pair Corr
0.73	AUR	Aurora Innovation Buyout Trend	Pair Corr
0.78	FIS	Fidelity National	Pair Corr
0.72	GDS	GDS Holdings Buyout Trend	Pair Corr
0.64	PSN	Parsons Corp	Pair Corr
0.74	UIS	Unisys	Pair Corr
0.63	WIT	Wipro Limited ADR	Pair Corr
0.76	GDYN	Grid Dynamics Holdings	Pair Corr
0.82	GLOB	Globant SA	Pair Corr
0.69	LDOS	Leidos Holdings	Pair Corr
0.85	AUROW	Aurora Innovation Tech Boost	Pair Corr

Moving against Cantaloupe Stock

0.5	VEEA	Veea Inc Symbol Change	Pair Corr
0.73	TRIRF	Triterras	Pair Corr
0.7	NOTE	FiscalNote Holdings	Pair Corr
0.69	NTRP	NextTrip Symbol Change	Pair Corr
0.51	PSCO	ProtoSource	Pair Corr
0.5	XRX	Xerox Corp Sell-off Trend	Pair Corr
0.49	NABL	N Able Inc	Pair Corr
0.46	INFY	Infosys Ltd ADR	Pair Corr

Related Correlations Analysis

	NOTE	CLPS	CYXT	AGIL	FORTY	CSPI	NYAX	III	ALYA	CTG
NOTE		0.22	0.73	0.54	-0.71	-0.29	-0.85	-0.26	0.29	-0.79	NOTE
CLPS	0.22		-0.21	-0.38	0.02	-0.33	-0.02	-0.63	-0.33	-0.16	CLPS
CYXT	0.73	-0.21		0.86	-0.78	-0.25	-0.86	0.06	0.49	-0.76	CYXT
AGIL	0.54	-0.38	0.86		-0.6	-0.17	-0.67	0.17	0.46	-0.58	AGIL
FORTY	-0.71	0.02	-0.78	-0.6		0.2	0.78	0.05	-0.53	0.75	FORTY
CSPI	-0.29	-0.33	-0.25	-0.17	0.2		0.35	0.68	0.43	0.41	CSPI
NYAX	-0.85	-0.02	-0.86	-0.67	0.78	0.35		0.21	-0.39	0.76	NYAX
III	-0.26	-0.63	0.06	0.17	0.05	0.68	0.21		0.48	0.16	III
ALYA	0.29	-0.33	0.49	0.46	-0.53	0.43	-0.39	0.48		-0.39	ALYA
CTG	-0.79	-0.16	-0.76	-0.58	0.75	0.41	0.76	0.16	-0.39		CTG
	NOTE	CLPS	CYXT	AGIL	FORTY	CSPI	NYAX	III	ALYA	CTG

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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

AGIL	+ 0.86	CYXT
NYAX	+ 0.78	FORTY
CTG	+ 0.76	NYAX
CTG	+ 0.75	FORTY
CYXT	+ 0.73	NOTE
III	+ 0.68	CSPI

High negative correlations

NYAX	- 0.86	CYXT
NYAX	- 0.85	NOTE
CTG	- 0.79	NOTE
FORTY	- 0.78	CYXT
CTG	- 0.76	CYXT
FORTY	- 0.71	NOTE

Risk-Adjusted Indicators

There is a big difference between Cantaloupe Stock performing well and Cantaloupe 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 Cantaloupe'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
NOTE	2.67	(0.71)	0.00	(0.28)	0.00	0.00	5.00	(6.38)	18.73
CLPS	2.85	0.26	0.02	(0.25)	3.33	(3.67)	8.59	(6.03)	24.69
CYXT	11.67	(0.95)	0.00	3.95	0.00	0.00	35.29	(25.78)	105.50
AGIL	5.34	(0.47)	0.00	(3.55)	0.00	0.00	8.45	(11.95)	46.43
FORTY	1.96	0.29	0.03	(0.35)	2.61	(2.39)	3.76	(4.95)	14.81
CSPI	2.52	0.06	0.04	0.15	3.25	(2.65)	4.57	(4.98)	31.02
NYAX	2.33	0.29	0.10	0.37	2.69	(2.61)	6.75	(4.00)	19.01
III	1.44	(0.04)	0.02	0.09	1.67	(1.92)	3.16	(2.46)	9.32
ALYA	2.23	(0.09)	0.00	0.36	0.00	0.00	4.66	(3.85)	15.70
CTG	1.34	0.23	0.08	9.46	1.26	(1.72)	2.72	(2.11)	8.01

Cantaloupe Corporate Management

Davina Furnish	Gen Officer	Profile
Paul Hamman	Chief Officer	Profile
Jeffrey Dumbrell	Chief Officer	Profile
Ankit Varia	Chief Officer	Profile
Scott Stewart	Chief Officer	Profile
Anna Novoseletsky	General Officer	Profile
Elyssa Steiner	Chief Officer	Profile

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