Mitek Systems Correlations

MITK Stock

USD 9.12 0.14 1.56%

The current 90-days correlation between Mitek Systems and Wag Group Co is 0.07 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Mitek Systems moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Mitek Systems moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Mitek Systems Correlation With Market

Good diversification

The correlation between Mitek Systems and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mitek Systems 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 Mitek Systems. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

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

Moving together with Mitek Stock

0.68	WK	Workiva	Pair Corr
0.61	ELWS	Earlyworks Co,	Pair Corr
0.64	BMR	Beamr Imaging	Pair Corr

Moving against Mitek Stock

0.44	ENFN	Enfusion	Pair Corr
0.4	API	Agora Inc	Pair Corr
0.36	ADP	Automatic Data Processing	Pair Corr
0.31	FROG	Jfrog	Pair Corr

Related Correlations Analysis

	MNTV	PET	OPFI	MODN	MCLD	WETG	RSKD	DOMO	OTEX	PAYC
MNTV		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	MNTV
PET	0.0		0.69	0.0	0.0	0.0	0.69	0.54	0.04	-0.41	PET
OPFI	0.0	0.69		0.0	0.0	0.0	0.68	0.62	0.14	-0.4	OPFI
MODN	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	MODN
MCLD	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	MCLD
WETG	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	WETG
RSKD	0.0	0.69	0.68	0.0	0.0	0.0		0.67	0.25	0.08	RSKD
DOMO	0.0	0.54	0.62	0.0	0.0	0.0	0.67		0.12	0.06	DOMO
OTEX	0.0	0.04	0.14	0.0	0.0	0.0	0.25	0.12		0.26	OTEX
PAYC	0.0	-0.41	-0.4	0.0	0.0	0.0	0.08	0.06	0.26		PAYC
	MNTV	PET	OPFI	MODN	MCLD	WETG	RSKD	DOMO	OTEX	PAYC

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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

OPFI	+ 0.69	PET
RSKD	+ 0.69	PET
RSKD	+ 0.68	OPFI
DOMO	+ 0.67	RSKD
DOMO	+ 0.62	OPFI
DOMO	+ 0.54	PET

High negative correlations

PAYC	- 0.41	PET
PAYC	- 0.4	OPFI
PAYC	- 0.0	WETG
OTEX	- 0.0	WETG
DOMO	- 0.0	WETG
RSKD	- 0.0	WETG

Risk-Adjusted Indicators

There is a big difference between Mitek Stock performing well and Mitek Systems 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 Mitek Systems' 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
MNTV	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PET	5.56	0.38	0.07	1.86	5.52	(8.01)	11.76	(11.11)	33.99
OPFI	4.36	0.66	0.14	0.36	4.23	(5.45)	11.13	(8.47)	22.82
MODN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MCLD	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
WETG	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RSKD	1.62	(0.07)	0.00	(0.20)	0.00	0.00	4.10	(3.92)	11.34
DOMO	2.58	0.23	0.08	0.18	2.74	(2.99)	4.95	(4.49)	20.23
OTEX	1.31	(0.12)	0.00	(0.22)	0.00	0.00	2.72	(2.83)	9.13
PAYC	1.47	(0.11)	0.00	(0.30)	0.00	0.00	2.55	(3.40)	12.03

Mitek Systems Corporate Management

Jason JD	Chief Officer	Profile
Scott Marcus	G Counsel	Profile
David Lyle	Chief Officer	Profile
Michael Diamond	Chief Revenue Officer	Profile
Stephen Ritter	Chief Officer	Profile

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