Endava Correlations

DAVA Stock

USD 22.19 1.26 6.02%

The current 90-days correlation between Endava and PagSeguro Digital is 0.12 (i.e., Average diversification). The correlation of Endava 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.

Endava Correlation With Market

Weak diversification

The correlation between Endava and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Endava and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Endava. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in real.

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

Moving together with Endava Stock

0.89	S	SentinelOne	Pair Corr
0.66	VRNT	Verint Systems Earnings Call This Week	Pair Corr
0.79	FIVN	Five9 Inc	Pair Corr
0.91	FLYW	Flywire Corp	Pair Corr
0.94	DBX	Dropbox	Pair Corr
0.72	DLO	Dlocal Buyout Trend	Pair Corr
0.62	IOT	Samsara Tech Boost	Pair Corr
0.85	RPD	Rapid7 Inc	Pair Corr

Moving against Endava Stock

0.69	EVTC	Evertec	Pair Corr
0.6	VRSN	VeriSign	Pair Corr
0.54	MQ	Marqeta	Pair Corr
0.32	GB	Global Blue Group	Pair Corr
0.73	XNET	Xunlei Ltd Adr	Pair Corr
0.46	DOX	Amdocs	Pair Corr
0.35	HCP	Hashicorp	Pair Corr
0.79	TCX	Tucows Inc	Pair Corr
0.61	ZUO	Zuora Inc	Pair Corr
0.59	GRRR	Gorilla Technology Tech Boost	Pair Corr
0.57	SWI	SolarWinds Corp Sell-off Trend	Pair Corr

Related Correlations Analysis

	PAGS	NTNX	SPLK	VMW	NEWR	BOX	DLO	STNE	EGIO	OKTA
PAGS		0.73	0.0	0.0	0.0	0.7	0.25	0.97	0.0	0.65	PAGS
NTNX	0.73		0.0	0.0	0.0	0.6	0.06	0.73	0.0	0.61	NTNX
SPLK	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	SPLK
VMW	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	VMW
NEWR	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	NEWR
BOX	0.7	0.6	0.0	0.0	0.0		0.6	0.65	0.0	0.28	BOX
DLO	0.25	0.06	0.0	0.0	0.0	0.6		0.16	0.0	-0.36	DLO
STNE	0.97	0.73	0.0	0.0	0.0	0.65	0.16		0.0	0.66	STNE
EGIO	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	EGIO
OKTA	0.65	0.61	0.0	0.0	0.0	0.28	-0.36	0.66	0.0		OKTA
	PAGS	NTNX	SPLK	VMW	NEWR	BOX	DLO	STNE	EGIO	OKTA

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

STNE	+ 0.97	PAGS
NTNX	+ 0.73	PAGS
STNE	+ 0.73	NTNX
BOX	+ 0.7	PAGS
OKTA	+ 0.66	STNE
OKTA	+ 0.65	PAGS

High negative correlations

OKTA	- 0.36	DLO
OKTA	- 0.0	EGIO
EGIO	- 0.0	STNE
EGIO	- 0.0	DLO
EGIO	- 0.0	BOX
OKTA	- 0.0	NEWR

Risk-Adjusted Indicators

There is a big difference between Endava Stock performing well and Endava 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 Endava'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
PAGS	2.23	0.28	0.09	0.19	2.89	(2.12)	4.63	(4.29)	12.65
NTNX	1.98	0.17	0.06	0.07	2.61	(2.11)	4.46	(3.94)	18.92
SPLK	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
VMW	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NEWR	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BOX	0.93	0.00	0.00	(0.10)	0.00	0.00	2.32	(2.03)	7.61
DLO	2.43	(0.37)	0.00	(26.13)	0.00	0.00	3.56	(3.88)	39.00
STNE	2.04	0.24	0.09	0.10	2.41	(2.37)	5.42	(3.79)	11.85
EGIO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
OKTA	2.18	0.55	0.25	0.77	1.96	(2.57)	4.48	(3.96)	30.71

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC