SoundHound Correlations

SOUN Stock

USD 9.59 0.26 2.64%

A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as SoundHound moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if SoundHound AI moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

SoundHound Correlation With Market

Modest diversification

The correlation between SoundHound AI and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SoundHound AI and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in SoundHound AI. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in employment.

Moving together with SoundHound Stock

0.79	DJCO	Daily Journal Corp	Pair Corr
0.83	AI	C3 Ai Inc	Pair Corr
0.76	BL	Blackline	Pair Corr
0.64	EB	Eventbrite Class A	Pair Corr
0.84	WK	Workiva	Pair Corr
0.74	DOCU	DocuSign Tech Boost	Pair Corr
0.68	VERX	Vertex	Pair Corr
0.71	VERB	Verb Technology	Pair Corr
0.71	VMEO	Vimeo Inc	Pair Corr
0.61	ELWS	Earlyworks Co,	Pair Corr
0.7	WALD	Waldencast Acquisition	Pair Corr
0.8	WBTN	WEBTOON Entertainment	Pair Corr
0.61	WFCF	Where Food Comes	Pair Corr
0.68	ETWO	E2open Parent Holdings	Pair Corr
0.69	FICO	Fair Isaac	Pair Corr
0.72	ANY	Sphere 3D Corp	Pair Corr

Moving against SoundHound Stock

0.7	KC	Kingsoft Cloud Holdings	Pair Corr
0.69	VCSA	Vacasa Inc	Pair Corr
0.41	DOMO	Domo Inc	Pair Corr
0.66	ENFN	Enfusion	Pair Corr
0.63	FROG	Jfrog	Pair Corr
0.52	API	Agora Inc	Pair Corr

Related Correlations Analysis

	SNOW	ZM	SHOP	WDAY	CRM	IDAI	INPX	HTCR	PRST
SNOW		0.58	0.84	0.5	0.46	-0.3	0.0	0.12	0.0	SNOW
ZM	0.58		0.74	0.69	0.87	0.31	0.0	0.44	0.0	ZM
SHOP	0.84	0.74		0.68	0.62	0.0	0.0	0.32	0.0	SHOP
WDAY	0.5	0.69	0.68		0.68	0.18	0.0	0.15	0.0	WDAY
CRM	0.46	0.87	0.62	0.68		0.48	0.0	0.58	0.0	CRM
IDAI	-0.3	0.31	0.0	0.18	0.48		0.0	0.63	0.0	IDAI
INPX	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	INPX
HTCR	0.12	0.44	0.32	0.15	0.58	0.63	0.0		0.0	HTCR
PRST	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		PRST
	SNOW	ZM	SHOP	WDAY	CRM	IDAI	INPX	HTCR	PRST

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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

CRM	+ 0.87	ZM
SHOP	+ 0.84	SNOW
SHOP	+ 0.74	ZM
WDAY	+ 0.69	ZM
WDAY	+ 0.68	SHOP
CRM	+ 0.68	WDAY

High negative correlations

IDAI	- 0.3	SNOW
PRST	- 0.0	HTCR
PRST	- 0.0	INPX
HTCR	- 0.0	INPX
PRST	- 0.0	IDAI
INPX	- 0.0	IDAI

Risk-Adjusted Indicators

There is a big difference between SoundHound Stock performing well and SoundHound 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 SoundHound'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
SNOW	2.10	(0.02)	(0.09)	3.60	(3.93)	19.02
ZM	1.34	(0.13)	(0.27)	2.44	(3.30)	16.58
SHOP	2.54	(0.03)	(0.09)	4.70	(6.41)	16.75
WDAY	1.58	(0.04)	(0.12)	2.93	(3.27)	10.21
CRM	1.40	(0.27)	(0.32)	2.72	(3.81)	8.88
IDAI	7.59	(0.94)	0.60	20.11	(16.59)	95.40
INPX	0.00	0.00	0.00	0.00	0.00	0.00
HTCR	6.44	(0.15)	(0.16)	9.64	(18.75)	78.60
PRST	0.00	0.00	0.00	0.00	0.00	0.00

SoundHound Corporate Management

Timothy Stonehocker	Chief Officer	Profile
Michael Zagorsek	Chief Officer	Profile
Warren JD	Senior Counsel	Profile
Nitesh CFA	Chief Officer	Profile
Warren Heit	Senior Counsel	Profile
CSM ITIL	Advisor	Profile

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