SPS Commerce Correlations

SPSC Stock

USD 128.28 0.38 0.30%

The current 90-days correlation between SPS Commerce and Tenable Holdings is 0.45 (i.e., Very weak diversification). The correlation of SPS Commerce 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.

SPS Commerce Correlation With Market

Modest diversification

The correlation between SPS Commerce and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPS Commerce 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 SPS Commerce. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state.

For information on how to trade SPS Stock refer to our How to Trade SPS Stock guide.

Moving together with SPS Stock

0.75	DJCO	Daily Journal Corp	Pair Corr
0.89	AI	C3 Ai Inc	Pair Corr
0.92	BL	Blackline	Pair Corr
0.83	EB	Eventbrite Class A	Pair Corr
0.88	WK	Workiva	Pair Corr
0.68	ZM	Zoom Video Communications	Pair Corr
0.89	DOCU	DocuSign Tech Boost	Pair Corr
0.93	VERX	Vertex	Pair Corr
0.77	VERB	Verb Technology	Pair Corr
0.77	DSGX	Descartes Systems	Pair Corr
0.82	VMEO	Vimeo Inc	Pair Corr
0.69	VTEX	VTEX	Pair Corr
0.8	EGAN	eGain	Pair Corr
0.82	ELWS	Earlyworks Co,	Pair Corr
0.95	WBTN	WEBTOON Entertainment	Pair Corr
0.75	WFCF	Where Food Comes	Pair Corr
0.83	ETWO	E2open Parent Holdings	Pair Corr
0.68	FICO	Fair Isaac	Pair Corr
0.91	ANY	Sphere 3D Corp	Pair Corr

Moving against SPS Stock

0.84	KC	Kingsoft Cloud Holdings	Pair Corr
0.51	VCSA	Vacasa Inc	Pair Corr
0.43	DOMO	Domo Inc	Pair Corr
0.42	QH	Quhuo	Pair Corr
0.38	ZI	ZoomInfo Technologies	Pair Corr
0.56	ENFN	Enfusion	Pair Corr
0.53	FROG	Jfrog	Pair Corr
0.51	API	Agora Inc	Pair Corr

Related Correlations Analysis

	TENB	RPD	FFIV	CHKP	ESMT	CCSI	GB	CSGS	EVCM
TENB		0.77	0.08	-0.42	0.0	0.43	-0.38	-0.36	0.53	TENB
RPD	0.77		-0.24	-0.8	0.0	0.1	-0.37	-0.73	0.71	RPD
FFIV	0.08	-0.24		0.68	0.0	0.83	-0.14	0.8	-0.18	FFIV
CHKP	-0.42	-0.8	0.68		0.0	0.41	0.08	0.92	-0.58	CHKP
ESMT	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	ESMT
CCSI	0.43	0.1	0.83	0.41	0.0		-0.2	0.5	0.01	CCSI
GB	-0.38	-0.37	-0.14	0.08	0.0	-0.2		0.02	-0.66	GB
CSGS	-0.36	-0.73	0.8	0.92	0.0	0.5	0.02		-0.48	CSGS
EVCM	0.53	0.71	-0.18	-0.58	0.0	0.01	-0.66	-0.48		EVCM
	TENB	RPD	FFIV	CHKP	ESMT	CCSI	GB	CSGS	EVCM

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

CSGS	+ 0.92	CHKP
CCSI	+ 0.83	FFIV
CSGS	+ 0.8	FFIV
RPD	+ 0.77	TENB
EVCM	+ 0.71	RPD
CHKP	+ 0.68	FFIV

High negative correlations

CHKP	- 0.8	RPD
CSGS	- 0.73	RPD
EVCM	- 0.66	GB
EVCM	- 0.58	CHKP
EVCM	- 0.48	CSGS
CHKP	- 0.42	TENB

Risk-Adjusted Indicators

There is a big difference between SPS Stock performing well and SPS Commerce 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 SPS Commerce'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
TENB	1.60	(0.13)	0.00	(0.22)	0.00	0.00	2.92	(3.26)	12.88
RPD	1.57	(0.45)	0.00	(0.61)	0.00	0.00	3.39	(3.85)	9.26
FFIV	1.24	0.14	0.08	0.07	1.65	(1.18)	2.03	(3.00)	14.71
CHKP	1.28	0.39	0.27	0.31	1.15	(1.42)	3.01	(1.98)	9.54
ESMT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CCSI	1.98	0.09	0.02	0.00	3.01	(1.82)	4.01	(4.06)	20.81
GB	1.79	0.32	0.17	3.36	1.72	(2.20)	3.86	(3.54)	18.44
CSGS	1.25	0.23	0.15	0.20	1.41	(1.29)	2.82	(2.16)	8.74
EVCM	1.58	(0.18)	0.00	(0.22)	0.00	0.00	3.22	(3.52)	10.24

SPS Commerce Corporate Executives

Elected by the shareholders, the SPS Commerce's board of directors comprises two types of representatives: SPS Commerce inside directors who are chosen from within the company, and outside directors, selected externally and held independent of SPS. The board's role is to monitor SPS Commerce's management team and ensure that shareholders' interests are well served. SPS Commerce's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, SPS Commerce's outside directors are responsible for providing unbiased perspectives on the board's policies.

Kimberly Nelson	CFO, Principal Accounting Officer and Executive VP	Profile
James Frome	COO and Executive VP	Profile
Jamie Thingelstad	Senior CTO	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC