TechTarget, Common Correlations

TTGT Stock

USD 15.33 0.98 6.83%

The current 90-days correlation between TechTarget, Common Stock and Comscore is 0.27 (i.e., Modest diversification). The correlation of TechTarget, Common 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.

TechTarget, Common Correlation With Market

Modest diversification

The correlation between TechTarget, Common Stock 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 TechTarget, Common Stock 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 TechTarget, Common Stock. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with TechTarget, Stock

0.86	DMRC	Digimarc	Pair Corr
0.91	VEEA	Veea Inc Symbol Change	Pair Corr
0.82	DTST	Data Storage Corp Earnings Call Tomorrow	Pair Corr
0.66	EPAM	EPAM Systems	Pair Corr
0.73	DXC	DXC Technology	Pair Corr
0.85	FIS	Fidelity National	Pair Corr
0.93	PSN	Parsons Corp	Pair Corr
0.84	UIS	Unisys	Pair Corr
0.93	VYX	NCR Voyix	Pair Corr
0.63	WIT	Wipro Limited ADR	Pair Corr
0.62	GDYN	Grid Dynamics Holdings	Pair Corr
0.75	WYY	Widepoint C	Pair Corr
0.83	GLOB	Globant SA	Pair Corr
0.88	INFY	Infosys Ltd ADR	Pair Corr
0.71	LDOS	Leidos Holdings	Pair Corr
0.83	VEEAW	Veea Inc Symbol Change	Pair Corr

Moving against TechTarget, Stock

0.89	VNET	VNET Group DRC Earnings Call Today	Pair Corr
0.72	IBM	International Business	Pair Corr
0.6	FI	Fiserv,	Pair Corr
0.43	JZ	Jianzhi Education	Pair Corr
0.82	IBEX	IBEX	Pair Corr
0.61	MGIC	Magic Software Enter	Pair Corr
0.47	WRD	WeRide American Depo	Pair Corr
0.34	PONY	Pony AI American	Pair Corr
0.32	AUROW	Aurora Innovation Tech Boost	Pair Corr

Related Correlations Analysis

	SABOF	SCOR	OB	RTMVY	GETY	PERI	YELP	MAX	ANGI	MTCH
SABOF		-0.31	-0.68	0.5	-0.57	-0.4	-0.83	-0.56	-0.35	-0.44	SABOF
SCOR	-0.31		0.31	0.03	0.53	0.64	0.46	0.56	0.54	0.58	SCOR
OB	-0.68	0.31		-0.59	0.58	0.46	0.77	0.83	0.43	0.52	OB
RTMVY	0.5	0.03	-0.59		-0.48	-0.25	-0.56	-0.45	-0.35	-0.3	RTMVY
GETY	-0.57	0.53	0.58	-0.48		0.7	0.78	0.76	0.58	0.51	GETY
PERI	-0.4	0.64	0.46	-0.25	0.7		0.57	0.68	0.52	0.64	PERI
YELP	-0.83	0.46	0.77	-0.56	0.78	0.57		0.81	0.58	0.63	YELP
MAX	-0.56	0.56	0.83	-0.45	0.76	0.68	0.81		0.52	0.65	MAX
ANGI	-0.35	0.54	0.43	-0.35	0.58	0.52	0.58	0.52		0.73	ANGI
MTCH	-0.44	0.58	0.52	-0.3	0.51	0.64	0.63	0.65	0.73		MTCH
	SABOF	SCOR	OB	RTMVY	GETY	PERI	YELP	MAX	ANGI	MTCH

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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

MAX	+ 0.83	OB
MAX	+ 0.81	YELP
YELP	+ 0.78	GETY
YELP	+ 0.77	OB
MAX	+ 0.76	GETY
MTCH	+ 0.73	ANGI

High negative correlations

YELP	- 0.83	SABOF
OB	- 0.68	SABOF
RTMVY	- 0.59	OB
GETY	- 0.57	SABOF
YELP	- 0.56	RTMVY
MAX	- 0.56	SABOF

Risk-Adjusted Indicators

There is a big difference between TechTarget, Stock performing well and TechTarget, Common 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 TechTarget, Common'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
SABOF	2.96	0.52	0.07	(1.46)	3.15	(9.42)	9.09	(7.89)	34.38
SCOR	4.14	0.24	0.06	0.13	3.88	(5.89)	14.90	(6.66)	38.22
OB	2.67	(0.74)	0.00	(0.77)	0.00	0.00	3.71	(6.91)	22.88
RTMVY	1.35	0.05	0.05	0.11	1.49	(1.59)	3.09	(2.70)	8.52
GETY	3.42	(0.11)	0.00	(0.18)	0.00	0.00	7.53	(6.33)	41.68
PERI	1.58	(0.05)	0.00	(0.25)	0.00	0.00	3.80	(4.25)	17.30
YELP	1.41	(0.08)	0.00	(0.12)	0.00	0.00	2.99	(3.56)	11.91
MAX	2.66	(0.11)	0.00	(0.16)	0.00	0.00	5.28	(6.38)	25.45
ANGI	2.41	0.04	0.00	(0.01)	0.00	0.00	6.73	(3.93)	17.20
MTCH	1.77	0.03	0.01	(0.01)	2.38	(1.77)	3.02	(3.25)	14.60

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