Shutterstock Correlations

SSTK Stock

USD 19.52 0.05 0.26%

The current 90-days correlation between Shutterstock and Yelp Inc is 0.21 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Shutterstock moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Shutterstock moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Shutterstock Correlation With Market

Significant diversification

The correlation between Shutterstock and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Shutterstock 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 Shutterstock. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

For more information on how to buy Shutterstock Stock please use our How to buy in Shutterstock Stock guide.

Moving together with Shutterstock Stock

0.91	OB	Outbrain	Pair Corr
0.69	TC	TuanChe ADR	Pair Corr
0.67	DOYU	DouYu International Earnings Call This Week	Pair Corr
0.91	DJT	Trump Media Technology Symbol Change	Pair Corr
0.94	FVRR	Fiverr International	Pair Corr
0.8	MAX	MediaAlpha	Pair Corr
0.94	MNY	MoneyHero Limited Class	Pair Corr
0.89	SLE	Super League Enterprise Earnings Call This Week	Pair Corr
0.78	GETY	Getty Images Holdings	Pair Corr
0.62	GITS	Global Interactive Symbol Change	Pair Corr
0.9	GOOG	Alphabet Class C	Pair Corr
0.91	YELP	Yelp Inc	Pair Corr
0.64	ZDGE	Zedge Inc	Pair Corr
0.61	IZEA	IZEA Inc	Pair Corr
0.79	KIND	Nextdoor Holdings	Pair Corr
0.64	BZFDW	BuzzFeed	Pair Corr

Moving against Shutterstock Stock

0.9	EVER	EverQuote Class A	Pair Corr
0.85	GIFT	RDE, Inc Symbol Change	Pair Corr
0.82	ZH	Zhihu Inc ADR Earnings Call This Week	Pair Corr
0.79	CCG	Cheche Group Class	Pair Corr
0.73	YY	YY Inc Class	Pair Corr
0.65	TME	Tencent Music Entert	Pair Corr
0.52	WB	Weibo Corp	Pair Corr
0.52	IAC	IAC Inc	Pair Corr
0.76	ATHM	Autohome	Pair Corr
0.73	JFIN	Jiayin Group	Pair Corr
0.68	SOGP	Lizhi Inc	Pair Corr
0.44	MATH	Metalpha Technology	Pair Corr
0.4	ONFOW	Onfolio Holdings Warrant	Pair Corr
0.4	SPOT	Spotify Technology	Pair Corr
0.32	AREN	Arena Group Holdings	Pair Corr

Related Correlations Analysis

	YELP	MTCH	SNAP	ONFO	JFIN	OPRA	TWLO	FVRR	GETY	BIDU
YELP		0.53	0.77	0.3	-0.59	0.34	0.49	0.9	0.78	-0.33	YELP
MTCH	0.53		0.36	0.05	-0.02	0.44	0.79	0.32	0.41	0.08	MTCH
SNAP	0.77	0.36		0.4	-0.73	0.26	0.31	0.82	0.63	-0.6	SNAP
ONFO	0.3	0.05	0.4		-0.38	0.47	-0.02	0.49	0.17	-0.07	ONFO
JFIN	-0.59	-0.02	-0.73	-0.38		0.12	0.0	-0.69	-0.28	0.71	JFIN
OPRA	0.34	0.44	0.26	0.47	0.12		0.46	0.4	0.42	0.21	OPRA
TWLO	0.49	0.79	0.31	-0.02	0.0	0.46		0.26	0.49	0.12	TWLO
FVRR	0.9	0.32	0.82	0.49	-0.69	0.4	0.26		0.73	-0.43	FVRR
GETY	0.78	0.41	0.63	0.17	-0.28	0.42	0.49	0.73		-0.25	GETY
BIDU	-0.33	0.08	-0.6	-0.07	0.71	0.21	0.12	-0.43	-0.25		BIDU
	YELP	MTCH	SNAP	ONFO	JFIN	OPRA	TWLO	FVRR	GETY	BIDU

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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

FVRR	+ 0.9	YELP
FVRR	+ 0.82	SNAP
TWLO	+ 0.79	MTCH
GETY	+ 0.78	YELP
SNAP	+ 0.77	YELP
GETY	+ 0.73	FVRR

High negative correlations

JFIN	- 0.73	SNAP
FVRR	- 0.69	JFIN
BIDU	- 0.6	SNAP
JFIN	- 0.59	YELP
BIDU	- 0.43	FVRR
JFIN	- 0.38	ONFO

Risk-Adjusted Indicators

There is a big difference between Shutterstock Stock performing well and Shutterstock 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 Shutterstock'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
YELP	1.38	(0.13)	0.00	(0.23)	0.00	0.00	2.93	(3.56)	11.91
MTCH	1.80	0.10	0.04	0.02	2.38	(1.78)	3.01	(3.25)	14.60
SNAP	2.46	(0.30)	0.00	(0.33)	0.00	0.00	4.41	(5.85)	14.86
ONFO	3.73	(0.23)	0.00	(0.24)	0.00	0.00	7.69	(6.90)	21.57
JFIN	4.52	1.48	0.19	1.02	5.97	(4.86)	13.37	(6.88)	47.71
OPRA	2.40	0.12	0.03	0.01	3.09	(2.36)	5.05	(5.51)	15.46
TWLO	2.48	0.06	0.00	(0.04)	0.00	0.00	3.77	(6.81)	35.14
FVRR	2.39	(0.36)	0.00	(0.41)	0.00	0.00	4.54	(6.69)	14.07
GETY	3.43	(0.12)	0.00	(0.23)	0.00	0.00	7.53	(6.33)	41.68
BIDU	2.37	0.21	0.08	0.37	2.90	(2.36)	5.43	(4.58)	13.40

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