MongoDB Correlations

MDB Stock

USD 259.71 7.39 2.77%

The current 90-days correlation between MongoDB and Crowdstrike Holdings is 0.52 (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 0.21 (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

0.83	S	SentinelOne	Pair Corr
0.81	ZS	Zscaler Earnings Call Tomorrow	Pair Corr
0.63	DTSS	Datasea	Pair Corr
0.61	VRNS	Varonis Systems	Pair Corr
0.61	FLYW	Flywire Corp	Pair Corr
0.63	BOX	Box Inc Earnings Call This Week	Pair Corr
0.84	GCT	GigaCloud Technology	Pair Corr
0.77	GEN	Gen Digital	Pair Corr
0.75	IOT	Samsara	Pair Corr

Moving against MongoDB Stock

0.78	VRAR	Glimpse Group	Pair Corr
0.64	GB	Global Blue Group Tech Boost	Pair Corr
0.38	FAAS	DigiAsia Corp Symbol Change	Pair Corr
0.35	EXOD	Exodus Movement,	Pair Corr
0.32	BB	BlackBerry	Pair Corr
0.31	VRSN	VeriSign	Pair Corr
0.65	HCP	Hashicorp	Pair Corr
0.53	LIDRW	AEye Inc	Pair Corr
0.4	GRRR	Gorilla Technology	Pair Corr

Related Correlations Analysis

	CRWD	OKTA	NET	PANW	ZS	SPLK	PATH	ADBE	NTNX
CRWD		0.88	0.95	0.32	0.57	0.0	0.51	-0.22	0.66	CRWD
OKTA	0.88		0.93	0.03	0.32	0.0	0.48	-0.41	0.38	OKTA
NET	0.95	0.93		0.18	0.43	0.0	0.43	-0.33	0.5	NET
PANW	0.32	0.03	0.18		0.67	0.0	0.45	0.64	0.51	PANW
ZS	0.57	0.32	0.43	0.67		0.0	0.74	0.58	0.84	ZS
SPLK	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	SPLK
PATH	0.51	0.48	0.43	0.45	0.74	0.0		0.44	0.5	PATH
ADBE	-0.22	-0.41	-0.33	0.64	0.58	0.0	0.44		0.3	ADBE
NTNX	0.66	0.38	0.5	0.51	0.84	0.0	0.5	0.3		NTNX
	CRWD	OKTA	NET	PANW	ZS	SPLK	PATH	ADBE	NTNX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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	+ 0.95	CRWD
NET	+ 0.93	OKTA
OKTA	+ 0.88	CRWD
NTNX	+ 0.84	ZS
PATH	+ 0.74	ZS
ZS	+ 0.67	PANW

High negative correlations

ADBE	- 0.41	OKTA
ADBE	- 0.33	NET
ADBE	- 0.22	CRWD
NTNX	- 0.0	SPLK
ADBE	- 0.0	SPLK
PATH	- 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	2.03	0.26	0.09	0.19	2.46	(2.12)	4.40	(3.68)	16.10
OKTA	1.60	0.33	0.18	0.52	1.59	(1.83)	4.24	(2.56)	10.08
NET	2.35	0.81	0.33	2.95	1.84	(2.73)	5.54	(2.83)	22.63
PANW	1.59	(0.04)	0.00	(0.36)	0.00	0.00	3.05	(3.90)	9.25
ZS	1.74	(0.01)	0.00	(0.03)	0.00	0.00	3.24	(3.79)	11.25
SPLK	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PATH	2.39	0.15	0.05	0.09	2.69	(2.69)	6.29	(5.10)	15.61
ADBE	1.24	(0.17)	0.00	(0.27)	0.00	0.00	2.31	(2.37)	17.61
NTNX	1.66	0.00	0.00	(0.01)	2.18	(1.89)	3.64	(3.62)	11.77

MongoDB Corporate Management

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

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