Atlassian Corp Correlations

TEAM Stock

USD 227.34 1.18 0.52%

The current 90-days correlation between Atlassian Corp Plc and Workday is 0.52 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Atlassian Corp moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Atlassian Corp Plc moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Atlassian Corp Correlation With Market

Weak diversification

The correlation between Atlassian Corp Plc and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Atlassian Corp Plc 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 Atlassian Corp Plc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Atlassian Stock

0.94	DT	Dynatrace Holdings LLC	Pair Corr
0.73	DV	DoubleVerify Holdings	Pair Corr
0.67	DSGX	Descartes Systems	Pair Corr
0.85	DUOL	Duolingo	Pair Corr
0.61	VTEX	VTEX	Pair Corr
0.73	EGHT	8x8 Common Stock	Pair Corr
0.62	WDAY	Workday	Pair Corr
0.91	ESTC	Elastic NV	Pair Corr
0.61	EXFY	Expensify	Pair Corr

Moving against Atlassian Stock

0.57	QH	Quhuo	Pair Corr
0.35	FRGT	Freight Technologies	Pair Corr

Related Correlations Analysis

	WDAY	CRM	INTU	SNOW	TTD	NOW	U	PAYC	DDOG	ADSK
WDAY		0.67	0.34	0.53	0.47	0.55	0.22	0.29	0.61	0.69	WDAY
CRM	0.67		0.41	0.49	0.89	0.94	0.03	-0.13	0.95	0.94	CRM
INTU	0.34	0.41		-0.33	0.51	0.49	0.15	0.19	0.47	0.23	INTU
SNOW	0.53	0.49	-0.33		0.26	0.37	0.01	0.03	0.42	0.65	SNOW
TTD	0.47	0.89	0.51	0.26		0.92	-0.1	-0.31	0.96	0.82	TTD
NOW	0.55	0.94	0.49	0.37	0.92		0.07	-0.17	0.93	0.86	NOW
U	0.22	0.03	0.15	0.01	-0.1	0.07		0.45	-0.06	0.01	U
PAYC	0.29	-0.13	0.19	0.03	-0.31	-0.17	0.45		-0.23	-0.15	PAYC
DDOG	0.61	0.95	0.47	0.42	0.96	0.93	-0.06	-0.23		0.9	DDOG
ADSK	0.69	0.94	0.23	0.65	0.82	0.86	0.01	-0.15	0.9		ADSK
	WDAY	CRM	INTU	SNOW	TTD	NOW	U	PAYC	DDOG	ADSK

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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

DDOG	+ 0.96	TTD
DDOG	+ 0.95	CRM
NOW	+ 0.94	CRM
ADSK	+ 0.94	CRM
DDOG	+ 0.93	NOW
NOW	+ 0.92	TTD

High negative correlations

SNOW	- 0.33	INTU
PAYC	- 0.31	TTD
DDOG	- 0.23	PAYC
PAYC	- 0.17	NOW
ADSK	- 0.15	PAYC
PAYC	- 0.13	CRM

Risk-Adjusted Indicators

There is a big difference between Atlassian Stock performing well and Atlassian Corp 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 Atlassian Corp'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
WDAY	1.58	(0.07)	(0.15)	2.93	(3.27)	10.21
CRM	1.38	(0.27)	(0.31)	2.72	(3.81)	8.88
INTU	1.44	(0.07)	(0.18)	2.29	(2.35)	17.47
SNOW	2.08	0.03	(0.04)	3.60	(3.93)	19.02
TTD	2.63	(1.12)	(2.15)	3.49	(5.25)	37.45
NOW	1.80	(0.35)	(0.34)	2.61	(4.82)	14.05
U	3.51	0.01	(0.05)	6.69	(8.82)	41.49
PAYC	1.49	(0.05)	(0.14)	2.62	(3.40)	10.47
DDOG	1.80	(0.49)	(0.63)	2.66	(4.28)	15.08
ADSK	1.21	(0.12)	(0.19)	2.43	(2.88)	8.00

Atlassian Corp Corporate Management

Avani Prabhakar	Chief Officer	Profile
Tiffany To	Senior Platform	Profile
Erika Fisher	Chief Officer	Profile
Robert Chatwani	Chief Officer	Profile
Gene Liu	Principal Controller	Profile

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