MongoDB Correlations

MDB Stock

USD 187.61 5.44 2.82%

The current 90-days correlation between MongoDB and Crowdstrike Holdings is 0.5 (i.e., Very weak diversification). The correlation of MongoDB 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.

MongoDB Correlation With Market

Modest diversification

The correlation between MongoDB and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MongoDB and DJI in the same portfolio, assuming nothing else is changed.

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

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

Moving together with MongoDB Stock

0.81	S	SentinelOne	Pair Corr
0.62	VRNT	Verint Systems Earnings Call This Week	Pair Corr
0.73	FIVN	Five9 Inc	Pair Corr
0.72	DLO	Dlocal Buyout Trend	Pair Corr
0.82	IOT	Samsara Tech Boost	Pair Corr
0.72	RXT	Rackspace Technology	Pair Corr

Moving against MongoDB Stock

0.49	GB	Global Blue Group	Pair Corr
0.41	ZUO	Zuora Inc	Pair Corr
0.4	XNET	Xunlei Ltd Adr	Pair Corr
0.31	HCP	Hashicorp	Pair Corr

Related Correlations Analysis

	CRWD	OKTA	NET	PANW	ZS	SPLK	PATH	ADBE	NTNX
CRWD		0.19	0.88	0.65	0.68	0.0	0.59	0.12	0.57	CRWD
OKTA	0.19		0.47	-0.03	0.48	0.0	-0.31	-0.19	0.61	OKTA
NET	0.88	0.47		0.49	0.69	0.0	0.32	0.04	0.72	NET
PANW	0.65	-0.03	0.49		0.69	0.0	0.59	0.63	0.34	PANW
ZS	0.68	0.48	0.69	0.69		0.0	0.55	0.48	0.56	ZS
SPLK	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	SPLK
PATH	0.59	-0.31	0.32	0.59	0.55	0.0		0.56	-0.03	PATH
ADBE	0.12	-0.19	0.04	0.63	0.48	0.0	0.56		0.05	ADBE
NTNX	0.57	0.61	0.72	0.34	0.56	0.0	-0.03	0.05		NTNX
	CRWD	OKTA	NET	PANW	ZS	SPLK	PATH	ADBE	NTNX

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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

NET	+ 0.88	CRWD
NTNX	+ 0.72	NET
ZS	+ 0.69	NET
ZS	+ 0.69	PANW
ZS	+ 0.68	CRWD
PANW	+ 0.65	CRWD

High negative correlations

PATH	- 0.31	OKTA
ADBE	- 0.19	OKTA
NTNX	- 0.03	PATH
PANW	- 0.03	OKTA
NTNX	- 0.0	SPLK
ADBE	- 0.0	SPLK

Risk-Adjusted Indicators

There is a big difference between MongoDB Stock performing well and MongoDB 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 MongoDB'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
CRWD	2.60	0.14	0.03	0.00	3.33	(2.69)	5.48	(6.34)	16.73
OKTA	2.18	0.55	0.25	0.77	1.96	(2.57)	4.48	(3.96)	30.71
NET	2.51	0.21	0.06	0.10	3.26	(2.48)	3.79	(4.87)	26.62
PANW	1.66	(0.05)	0.00	(0.16)	0.00	0.00	3.41	(3.91)	9.22
ZS	1.97	0.04	0.00	(0.08)	0.00	0.00	3.26	(4.06)	13.77
SPLK	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PATH	2.68	(0.19)	0.00	(0.20)	0.00	0.00	4.77	(5.20)	26.12
ADBE	1.49	(0.36)	0.00	(0.42)	0.00	0.00	2.24	(3.19)	18.02
NTNX	1.98	0.17	0.06	0.07	2.61	(2.11)	4.46	(3.94)	18.92

MongoDB Corporate Management

Andrew Stephens	General Secretary	Profile
Mindy Lieberman	Chief Officer	Profile
Harsha Jalihal	Chief Officer	Profile
Cailin Nelson	Executive Engineering	Profile

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