Spire Global Correlations

SPIR Stock  USD 10.94  0.72  6.17%   
The correlation of Spire Global 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.

Spire Global Correlation With Market

SpireDowDiversified AwaySpireDowDiversified Away100%

Modest diversification

The correlation between Spire Global 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 Spire Global 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 Spire Global. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.
To learn how to invest in Spire Stock, please use our How to Invest in Spire Global guide.

Moving together with Spire Stock

  0.63FOUR Shift4 Payments Earnings Call This WeekPairCorr

Moving against Spire Stock

  0.48EEFT Euronet WorldwidePairCorr
  0.45DSS DSS IncPairCorr
  0.37HQI HirequestPairCorr
  0.33GFL Gfl EnvironmentalPairCorr

Related Correlations Analysis

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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   
RTOFA
MADGFUNF
RTOLICN
NTIPUNF
MADGFNTIP
MADGFFA
  
High negative correlations   
RTOUNF
MADGFLICN
RTONTIP
NTIPFA
NTIPLICN
UNFLICN

Risk-Adjusted Indicators

There is a big difference between Spire Stock performing well and Spire Global 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 Spire Global'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
LICN  8.45 (3.19) 0.00  20.25  0.00 
 9.86 
 82.77 
PFSW  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
SP  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
UNF  1.64  0.14  0.09  0.40  1.48 
 3.16 
 24.07 
FA  1.35  0.04  0.03  0.05  1.50 
 2.96 
 8.94 
PFMT  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
NTIP  1.50  0.05  0.02  0.14  1.89 
 3.08 
 9.55 
RTO  1.20 (0.01) 0.00 (0.02) 0.00 
 2.13 
 6.84 
WHLM  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
MADGF  0.36  0.17  0.00 (1.58) 0.00 
 0.00 
 12.04 

Spire Global Corporate Management

Jon ChristensenGlobal DevelopmentProfile
Jeroen CappaertCoFounder CTOProfile
Michelle NadeauGlobal OperationsProfile
Tim BraswellChief OfficerProfile
Peter PlatzerPresident, CoFounderProfile
Benjamin HackmanHead RelationsProfile