Open Text Correlations
| OTEX Stock | USD 25.91 0.64 2.41% |
The current 90-days correlation between Open Text Corp and Paycom Soft is 0.41 (i.e., Very weak diversification). The correlation of Open Text 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.
Open Text Correlation With Market
Very weak diversification
The correlation between Open Text Corp and DJI is 0.53 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Open Text Corp and DJI in the same portfolio, assuming nothing else is changed.
Open |
Moving together with Open Stock
| 0.65 | BL | Blackline | PairCorr |
| 0.64 | EB | Eventbrite Class A | PairCorr |
| 0.82 | PD | Pagerduty | PairCorr |
| 0.72 | VERB | VERB TECHNOLOGY PANY | PairCorr |
| 0.67 | DSGX | Descartes Systems Earnings Call This Week | PairCorr |
| 0.84 | ETWO | E2open Parent Holdings | PairCorr |
| 0.61 | FICO | Fair Isaac Tech Boost | PairCorr |
Moving against Open Stock
| 0.44 | KC | Kingsoft Cloud Holdings | PairCorr |
| 0.31 | VS | Versus Systems | PairCorr |
| 0.39 | ENFN | Enfusion | PairCorr |
| 0.31 | DUOT | Duos Technologies Downward Rally | PairCorr |
Related Correlations Analysis
| 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
| High negative correlations
|
Risk-Adjusted Indicators
There is a big difference between Open Stock performing well and Open Text 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 Open Text'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| PAYC | 1.27 | 0.03 | 0.02 | 0.08 | 2.17 | 2.49 | 13.37 | |||
| LSPD | 1.88 | (0.43) | 0.00 | (1.24) | 0.00 | 3.35 | 17.66 | |||
| PWSC | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| ABST | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| ENFN | 1.39 | 0.26 | 0.14 | 1.21 | 1.64 | 3.38 | 10.10 | |||
| GWRE | 1.47 | 0.07 | 0.03 | 0.11 | 2.85 | 2.15 | 15.66 | |||
| MANH | 2.03 | (0.57) | 0.00 | 0.99 | 0.00 | 3.13 | 28.23 | |||
| ETWO | 1.96 | (0.31) | 0.00 | (0.31) | 0.00 | 3.62 | 14.26 | |||
| MODN | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| AZPN | 0.57 | 0.10 | 0.13 | 1.73 | 0.64 | 1.30 | 6.87 |
Open Text Corporate Management
| Howard CPA | VP Officer | Profile | |
| Brian Sweeney | Executive Officer | Profile | |
| Michael Acedo | Chief VP | Profile | |
| Denise Miura | Senior Japan | Profile | |
| Renee McKenzie | Ex Officer | Profile |