Procore Technologies Correlations

PCOR Stock

USD 71.96 1.58 2.24%

The current 90-days correlation between Procore Technologies and Paycor HCM is 0.11 (i.e., Average diversification). The correlation of Procore Technologies 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.

Procore Technologies Correlation With Market

Weak diversification

The correlation between Procore Technologies and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Procore Technologies and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Procore Technologies. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

To learn how to invest in Procore Stock, please use our How to Invest in Procore Technologies guide.

Moving together with Procore Stock

0.72	DT	Dynatrace Holdings LLC	Pair Corr
0.75	DV	DoubleVerify Holdings	Pair Corr
0.71	EB	Eventbrite Class A	Pair Corr
0.63	ZM	Zoom Video Communications	Pair Corr
0.74	DSGX	Descartes Systems	Pair Corr
0.75	DUOL	Duolingo Tech Boost	Pair Corr
0.72	VTEX	VTEX	Pair Corr
0.75	EGHT	8x8 Common Stock	Pair Corr
0.63	ELWS	Earlyworks Co, Tech Boost	Pair Corr
0.61	ESTC	Elastic NV	Pair Corr

Moving against Procore Stock

0.43

Quhuo

Pair Corr

Related Correlations Analysis

	PYCR	CWAN	MNTV	ALKT	JAMF	PEGA	FROG	PWSC	CDAY	MANH
PYCR		0.01	0.0	-0.6	-0.03	-0.19	0.65	0.0	0.0	-0.57	PYCR
CWAN	0.01		0.0	0.09	0.3	0.01	0.37	0.0	0.0	-0.13	CWAN
MNTV	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	MNTV
ALKT	-0.6	0.09	0.0		0.6	0.81	-0.37	0.0	0.0	0.81	ALKT
JAMF	-0.03	0.3	0.0	0.6		0.67	0.43	0.0	0.0	0.17	JAMF
PEGA	-0.19	0.01	0.0	0.81	0.67		-0.14	0.0	0.0	0.64	PEGA
FROG	0.65	0.37	0.0	-0.37	0.43	-0.14		0.0	0.0	-0.66	FROG
PWSC	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	PWSC
CDAY	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	CDAY
MANH	-0.57	-0.13	0.0	0.81	0.17	0.64	-0.66	0.0	0.0		MANH
	PYCR	CWAN	MNTV	ALKT	JAMF	PEGA	FROG	PWSC	CDAY	MANH

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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

PEGA	+ 0.81	ALKT
MANH	+ 0.81	ALKT
PEGA	+ 0.67	JAMF
FROG	+ 0.65	PYCR
MANH	+ 0.64	PEGA
JAMF	+ 0.6	ALKT

High negative correlations

MANH	- 0.66	FROG
ALKT	- 0.6	PYCR
MANH	- 0.57	PYCR
FROG	- 0.37	ALKT
PEGA	- 0.19	PYCR
FROG	- 0.14	PEGA

Risk-Adjusted Indicators

There is a big difference between Procore Stock performing well and Procore Technologies 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 Procore Technologies' 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
PYCR	0.83	0.18	0.19	1.16	0.67	(1.08)	0.95	(1.47)	26.32
CWAN	1.79	(0.09)	0.00	(0.17)	0.00	0.00	3.61	(4.14)	15.32
MNTV	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ALKT	2.04	(0.46)	0.00	(0.32)	0.00	0.00	3.49	(4.37)	19.06
JAMF	1.40	(0.16)	0.00	(0.30)	0.00	0.00	2.20	(2.75)	11.98
PEGA	2.20	(0.28)	0.00	(0.24)	0.00	0.00	3.68	(5.15)	26.26
FROG	1.79	0.21	0.10	0.20	1.94	(2.15)	4.07	(3.06)	11.31
PWSC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CDAY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MANH	2.08	(0.68)	0.00	(0.61)	0.00	0.00	3.09	(3.98)	27.65

Procore Technologies Corporate Management

Sandra Benson	Head Transformation	Profile
Kevin Oconnor	Non-Executive Independent Director	Profile
William Griffith	Non-Executive Independent Director	Profile
Linden Hillenbrand	Chief Officer	Profile
Joy Durling	Chief Officer	Profile
Graham Smith	Non-Executive Lead Independent Director	Profile

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