Block Correlations

SQ Stock

USD 88.78 0.23 0.26%

The current 90-days correlation between Block Inc and Zscaler is 0.34 (i.e., Weak diversification). The correlation of Block 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.

Block Correlation With Market

Very weak diversification

The correlation between Block Inc and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Block Inc 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 Block Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in producer price index.

Moving together with Block Stock

0.68	NL	NL Industries	Pair Corr
0.86	WM	Waste Management	Pair Corr
0.84	AXR	AMREP	Pair Corr
0.82	DLX	Deluxe	Pair Corr
0.72	HNI	HNI Corp	Pair Corr
0.93	INOD	Innodata Downward Rally	Pair Corr
0.61	ESGLW	ESGL Holdings Limited	Pair Corr
0.84	PYCR	Paycor HCM	Pair Corr
0.63	ACCO	Acco Brands	Pair Corr
0.63	SABR	Sabre Corpo	Pair Corr
0.88	CTAS	Cintas	Pair Corr
0.7	B	Barnes Group	Pair Corr
0.61	J	Jacobs Solutions	Pair Corr
0.89	R	Ryder System	Pair Corr
0.95	DIST	Distoken Acquisition	Pair Corr
0.87	AL	Air Lease	Pair Corr
0.91	AZ	A2Z Smart Technologies	Pair Corr
0.82	BE	Bloom Energy Corp	Pair Corr

Moving against Block Stock

0.82	HDSN	Hudson Technologies	Pair Corr
0.8	BCO	Brinks Company	Pair Corr
0.65	MG	Mistras Group	Pair Corr
0.61	CDTG	CDT Environmental	Pair Corr
0.56	BLMZ	BloomZ Ordinary Shares	Pair Corr
0.48	LNZA	LanzaTech Global	Pair Corr
0.38	RELX	Relx PLC ADR	Pair Corr
0.38	CMPR	Cimpress NV	Pair Corr
0.84	CP	Canadian Pacific Railway	Pair Corr
0.66	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.64	FC	Franklin Covey	Pair Corr
0.51	GP	GreenPower Motor	Pair Corr
0.46	HY	Hyster Yale Materials	Pair Corr
0.45	OP	Oceanpal	Pair Corr
0.41	AP	Ampco Pittsburgh	Pair Corr
0.41	FA	First Advantage Corp	Pair Corr
0.35	GD	General Dynamics Fiscal Year End 22nd of January 2025	Pair Corr

Related Correlations Analysis

	PANW	ZS	NET	OKTA	ADBE	MSFT	PATH	CRWD	MDB	ORCL
PANW		0.86	0.86	0.08	-0.31	-0.1	0.66	0.87	0.47	0.69	PANW
ZS	0.86		0.82	0.39	-0.26	-0.06	0.68	0.82	0.3	0.53	ZS
NET	0.86	0.82		0.01	-0.49	0.06	0.75	0.94	0.56	0.79	NET
OKTA	0.08	0.39	0.01		0.37	-0.14	0.25	-0.05	-0.26	-0.33	OKTA
ADBE	-0.31	-0.26	-0.49	0.37		-0.17	-0.08	-0.54	0.09	-0.7	ADBE
MSFT	-0.1	-0.06	0.06	-0.14	-0.17		0.08	0.09	0.16	0.31	MSFT
PATH	0.66	0.68	0.75	0.25	-0.08	0.08		0.71	0.6	0.48	PATH
CRWD	0.87	0.82	0.94	-0.05	-0.54	0.09	0.71		0.5	0.87	CRWD
MDB	0.47	0.3	0.56	-0.26	0.09	0.16	0.6	0.5		0.46	MDB
ORCL	0.69	0.53	0.79	-0.33	-0.7	0.31	0.48	0.87	0.46		ORCL
	PANW	ZS	NET	OKTA	ADBE	MSFT	PATH	CRWD	MDB	ORCL

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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

CRWD	+ 0.94	NET
CRWD	+ 0.87	PANW
ORCL	+ 0.87	CRWD
ZS	+ 0.86	PANW
NET	+ 0.86	PANW
NET	+ 0.82	ZS

High negative correlations

ORCL	- 0.7	ADBE
CRWD	- 0.54	ADBE
ADBE	- 0.49	NET
ORCL	- 0.33	OKTA
ADBE	- 0.31	PANW
MDB	- 0.26	OKTA

Risk-Adjusted Indicators

There is a big difference between Block Stock performing well and Block 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 Block'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
PANW	1.35	0.06	0.04	0.17	1.75	(1.35)	2.45	(2.51)	9.85
ZS	1.91	(0.02)	0.00	0.10	3.72	(1.94)	3.73	(3.37)	20.36
NET	2.01	0.16	0.12	0.22	1.77	(2.42)	5.47	(3.44)	13.45
OKTA	1.47	(0.44)	0.00	(0.38)	0.00	0.00	2.39	(3.42)	17.64
ADBE	1.35	(0.19)	0.00	(0.10)	0.00	0.00	2.87	(2.89)	10.09
MSFT	0.90	(0.03)	(0.04)	0.07	1.49	(0.86)	2.09	(1.85)	8.19
PATH	1.93	(0.06)	0.03	0.09	2.53	(1.97)	4.52	(3.82)	12.04
CRWD	1.98	0.31	0.18	0.31	1.73	(2.24)	4.04	(3.03)	11.54
MDB	2.48	0.30	0.18	0.29	1.89	(2.95)	6.18	(3.09)	23.05
ORCL	1.31	0.37	0.27	0.48	0.89	(1.55)	2.83	(1.77)	15.28

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