HubSpot Correlations

HUBS Stock

USD 596.96 16.10 2.63%

The current 90-days correlation between HubSpot and Datadog is 0.54 (i.e., Very weak diversification). The correlation of HubSpot 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.

HubSpot Correlation With Market

Very weak diversification

The correlation between HubSpot 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 HubSpot and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in HubSpot. 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 labor statistics.

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

Moving together with HubSpot Stock

0.85	DT	Dynatrace Holdings LLC	Pair Corr
0.82	DV	DoubleVerify Holdings	Pair Corr
0.68	EB	Eventbrite Class A	Pair Corr
0.67	PD	Pagerduty Tech Boost	Pair Corr
0.75	ZM	Zoom Video Communications	Pair Corr
0.63	VERX	Vertex	Pair Corr
0.83	DSGX	Descartes Systems	Pair Corr
0.83	DUOL	Duolingo	Pair Corr
0.63	VMEO	Vimeo Inc Potential Growth	Pair Corr
0.79	VTEX	VTEX	Pair Corr
0.84	EGHT	8x8 Common Stock	Pair Corr
0.72	ELWS	Earlyworks Co,	Pair Corr
0.62	WDAY	Workday	Pair Corr
0.85	ESTC	Elastic NV	Pair Corr
0.61	ETWO	E2open Parent Holdings	Pair Corr
0.79	APP	Applovin Corp	Pair Corr

Moving against HubSpot Stock

0.64

Quhuo

Pair Corr

Related Correlations Analysis

	NOW	DDOG	WDAY	TTD	TEAM	SNOW	U	CRM	INTU	SHOP
NOW		0.92	0.57	0.91	0.19	0.29	0.12	0.93	0.58	0.39	NOW
DDOG	0.92		0.64	0.96	0.32	0.35	0.01	0.95	0.56	0.51	DDOG
WDAY	0.57	0.64		0.49	0.57	0.49	0.31	0.7	0.44	0.66	WDAY
TTD	0.91	0.96	0.49		0.14	0.17	-0.05	0.88	0.58	0.3	TTD
TEAM	0.19	0.32	0.57	0.14		0.9	0.02	0.38	-0.29	0.88	TEAM
SNOW	0.29	0.35	0.49	0.17	0.9		-0.01	0.43	-0.3	0.83	SNOW
U	0.12	0.01	0.31	-0.05	0.02	-0.01		0.08	0.29	0.13	U
CRM	0.93	0.95	0.7	0.88	0.38	0.43	0.08		0.5	0.59	CRM
INTU	0.58	0.56	0.44	0.58	-0.29	-0.3	0.29	0.5		-0.07	INTU
SHOP	0.39	0.51	0.66	0.3	0.88	0.83	0.13	0.59	-0.07		SHOP
	NOW	DDOG	WDAY	TTD	TEAM	SNOW	U	CRM	INTU	SHOP

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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

TTD	+ 0.96	DDOG
CRM	+ 0.95	DDOG
CRM	+ 0.93	NOW
DDOG	+ 0.92	NOW
TTD	+ 0.91	NOW
SNOW	+ 0.9	TEAM

High negative correlations

INTU	- 0.3	SNOW
INTU	- 0.29	TEAM
SHOP	- 0.07	INTU
U	- 0.05	TTD
U	- 0.01	SNOW

Risk-Adjusted Indicators

There is a big difference between HubSpot Stock performing well and HubSpot 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 HubSpot'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
NOW	1.79	(0.29)	(0.32)	2.61	(4.82)	14.05
DDOG	1.84	(0.57)	(0.77)	2.66	(4.28)	15.08
WDAY	1.63	(0.08)	(0.18)	2.93	(3.27)	10.21
TTD	2.50	(1.15)	(3.04)	3.49	(5.25)	37.45
TEAM	2.41	(0.14)	(0.19)	3.80	(7.26)	24.54
SNOW	2.16	(0.07)	(0.15)	3.60	(4.81)	19.02
U	3.56	(0.14)	(0.22)	6.69	(8.82)	41.49
CRM	1.42	(0.23)	(0.30)	2.72	(3.81)	8.88
INTU	1.50	(0.04)	(0.16)	3.01	(2.35)	17.47
SHOP	2.46	(0.06)	(0.13)	4.57	(6.41)	16.75

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