Spire Global Correlations

SPIR Stock

USD 16.34 0.17 1.05%

The current 90-days correlation between Spire Global and Performant Financial is 0.37 (i.e., Weak diversification). 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

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

0.69	LZ	LegalZoom	Pair Corr
0.63	VIRC	Virco Manufacturing Earnings Call This Week	Pair Corr
0.8	VRSK	Verisk Analytics	Pair Corr
0.74	HNI	HNI Corp	Pair Corr
0.77	HURN	Huron Consulting	Pair Corr
0.86	INOD	Innodata Buyout Trend	Pair Corr
0.72	CASS	Cass Information Systems Fiscal Year End 23rd of January 2025	Pair Corr
0.8	CTAS	Cintas	Pair Corr
0.88	R	Ryder System	Pair Corr
0.91	DIST	Distoken Acquisition	Pair Corr
0.92	AL	Air Lease	Pair Corr
0.76	AZ	A2Z Smart Technologies	Pair Corr
0.92	BE	Bloom Energy Corp	Pair Corr

Moving against Spire Stock

0.85	CVEO	Civeo Corp	Pair Corr
0.82	MMS	Maximus	Pair Corr
0.8	ICFI	ICF International	Pair Corr
0.72	EFX	Equifax	Pair Corr
0.68	PFMT	Performant Financial	Pair Corr
0.67	FC	Franklin Covey	Pair Corr
0.6	FCN	FTI Consulting	Pair Corr
0.51	EXPO	Exponent	Pair Corr
0.39	WHLM	Wilhelmina	Pair Corr
0.37	TOMZ	TOMI Environmental	Pair Corr
0.33	RGP	Resources Connection	Pair Corr
0.33	RELX	Relx PLC ADR	Pair Corr
0.69	MG	Mistras Group	Pair Corr
0.65	CP	Canadian Pacific Railway	Pair Corr
0.64	OP	Oceanpal	Pair Corr
0.59	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.59	GD	General Dynamics Fiscal Year End 22nd of January 2025	Pair Corr
0.56	HY	Hyster Yale Materials	Pair Corr

Related Correlations Analysis

	LICN	PFSW	SP	UNF	FA	PFMT	NTIP	RTO	WHLM	MADGF
LICN		0.38	0.1	0.01	-0.43	-0.12	-0.1	0.29	-0.06	0.24	LICN
PFSW	0.38		0.64	0.35	-0.61	-0.4	-0.48	-0.09	-0.54	0.09	PFSW
SP	0.1	0.64		0.61	-0.27	-0.38	-0.81	-0.43	-0.83	-0.04	SP
UNF	0.01	0.35	0.61		0.2	-0.58	-0.29	-0.2	-0.29	-0.14	UNF
FA	-0.43	-0.61	-0.27	0.2		0.14	0.32	-0.23	0.43	-0.39	FA
PFMT	-0.12	-0.4	-0.38	-0.58	0.14		0.13	-0.16	0.09	-0.2	PFMT
NTIP	-0.1	-0.48	-0.81	-0.29	0.32	0.13		0.4	0.85	-0.02	NTIP
RTO	0.29	-0.09	-0.43	-0.2	-0.23	-0.16	0.4		0.55	0.83	RTO
WHLM	-0.06	-0.54	-0.83	-0.29	0.43	0.09	0.85	0.55		0.17	WHLM
MADGF	0.24	0.09	-0.04	-0.14	-0.39	-0.2	-0.02	0.83	0.17		MADGF
	LICN	PFSW	SP	UNF	FA	PFMT	NTIP	RTO	WHLM	MADGF

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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

WHLM	+ 0.85	NTIP
MADGF	+ 0.83	RTO
SP	+ 0.64	PFSW
UNF	+ 0.61	SP
WHLM	+ 0.55	RTO
WHLM	+ 0.43	FA

High negative correlations

WHLM	- 0.83	SP
NTIP	- 0.81	SP
FA	- 0.61	PFSW
PFMT	- 0.58	UNF
WHLM	- 0.54	PFSW
NTIP	- 0.48	PFSW

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
LICN	3.54	(0.21)	0.00	(0.11)	0.00	0.00	5.88	(7.98)	37.69
PFSW	2.08	0.16	0.02	0.84	2.81	(2.29)	5.84	(5.09)	17.10
SP	1.24	0.14	0.06	0.35	1.17	(1.38)	3.66	(1.81)	7.05
UNF	1.29	(0.11)	(0.01)	0.06	1.34	(1.44)	2.78	(2.44)	10.96
FA	1.35	(0.11)	(0.06)	0.02	1.63	(1.47)	3.63	(3.01)	9.66
PFMT	2.14	(0.29)	0.00	(0.07)	0.00	0.00	3.98	(4.43)	21.95
NTIP	1.91	(0.13)	0.00	(0.53)	0.00	0.00	3.88	(4.37)	32.25
RTO	1.57	(0.36)	0.00	(0.50)	0.00	0.00	2.40	(2.69)	22.43
WHLM	2.95	(0.39)	0.00	(3.44)	0.00	0.00	6.54	(7.10)	39.65
MADGF	0.49	(0.09)	0.00	0.59	0.00	0.00	0.30	0.00	16.41

Spire Global Corporate Management

Jon Christensen	Global Development	Profile
Jeroen Cappaert	CoFounder CTO	Profile
Michelle Nadeau	Global Operations	Profile
Tim Braswell	Chief Officer	Profile
Peter Platzer	President, CoFounder	Profile
Benjamin Hackman	Head Relations	Profile

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