Blacksky Technology Correlations

BKSY Stock

USD 11.11 0.43 4.03%

The current 90-days correlation between Blacksky Technology and Mesa Laboratories is 0.2 (i.e., Modest diversification). The correlation of Blacksky Technology 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.

Blacksky Technology Correlation With Market

Modest diversification

The correlation between Blacksky Technology 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 Blacksky Technology and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Blacksky Technology. 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 more information on how to buy Blacksky Stock please use our How to Invest in Blacksky Technology guide.

Moving together with Blacksky Stock

0.83	ELSE	Electro Sensors	Pair Corr
0.84	FARO	FARO Technologies	Pair Corr
0.86	ESE	ESCO Technologies	Pair Corr
0.77	TDY	Teledyne Technologies Fiscal Year End 22nd of January 2025	Pair Corr
0.8	VNT	Vontier Corp	Pair Corr
0.82	GRMN	Garmin	Pair Corr
0.69	ITRI	Itron Inc	Pair Corr
0.77	KEYS	Keysight Technologies	Pair Corr
0.84	SOTK	Sono Tek Corp	Pair Corr
0.84	TRMB	Trimble	Pair Corr

Moving against Blacksky Stock

0.87	ST	Sensata Technologies	Pair Corr
0.7	WATT	Energous	Pair Corr
0.69	SVREW	SaverOne 2014	Pair Corr
0.6	VPG	Vishay Precision	Pair Corr
0.42	LUNA	Luna Innovations	Pair Corr
0.37	KNW	Know Labs Earnings Call This Week	Pair Corr
0.81	SVRE	SaverOne 2014	Pair Corr
0.79	MVIS	Microvision	Pair Corr
0.76	DM	Desktop Metal	Pair Corr
0.6	NOVT	Novanta	Pair Corr
0.6	SOBR	Sobr Safe	Pair Corr
0.42	MLAB	Mesa Laboratories	Pair Corr
0.35	CPTNW	Cepton Inc	Pair Corr

Related Correlations Analysis

	MLAB	ITRI	FTV	VPG	ESE	SOTK	BMI	VNT	ST
MLAB		-0.37	0.31	0.81	-0.47	-0.3	0.18	-0.4	0.48	MLAB
ITRI	-0.37		0.13	-0.61	0.86	0.51	0.51	0.92	-0.72	ITRI
FTV	0.31	0.13		0.2	0.34	0.29	0.53	0.21	-0.07	FTV
VPG	0.81	-0.61	0.2		-0.69	-0.47	-0.03	-0.63	0.7	VPG
ESE	-0.47	0.86	0.34	-0.69		0.72	0.41	0.92	-0.84	ESE
SOTK	-0.3	0.51	0.29	-0.47	0.72		0.06	0.7	-0.68	SOTK
BMI	0.18	0.51	0.53	-0.03	0.41	0.06		0.39	-0.39	BMI
VNT	-0.4	0.92	0.21	-0.63	0.92	0.7	0.39		-0.79	VNT
ST	0.48	-0.72	-0.07	0.7	-0.84	-0.68	-0.39	-0.79		ST
	MLAB	ITRI	FTV	VPG	ESE	SOTK	BMI	VNT	ST

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

VNT	+ 0.92	ITRI
VNT	+ 0.92	ESE
ESE	+ 0.86	ITRI
VPG	+ 0.81	MLAB
SOTK	+ 0.72	ESE
ST	+ 0.7	VPG

High negative correlations

ST	- 0.84	ESE
ST	- 0.79	VNT
ST	- 0.72	ITRI
ESE	- 0.69	VPG
ST	- 0.68	SOTK
VNT	- 0.63	VPG

Risk-Adjusted Indicators

There is a big difference between Blacksky Stock performing well and Blacksky Technology 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 Blacksky Technology'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
MLAB	2.45	(0.16)	0.02	0.06	3.67	(2.36)	4.16	(4.96)	23.18
ITRI	1.40	0.13	0.08	0.24	1.39	(1.60)	3.35	(2.35)	10.19
FTV	0.88	0.09	0.01	0.42	0.90	(1.00)	1.91	(1.47)	6.52
VPG	1.69	0.08	(0.04)	(0.04)	2.13	(1.72)	3.24	(3.11)	11.08
ESE	1.12	0.16	0.19	0.22	0.83	(1.25)	3.07	(1.57)	11.48
SOTK	1.82	0.01	(0.04)	0.16	2.14	(2.04)	3.69	(3.33)	9.84
BMI	1.30	0.15	0.11	0.22	1.47	(1.42)	2.69	(1.97)	10.23
VNT	1.16	0.24	0.17	0.59	0.86	(1.42)	2.48	(1.62)	11.02
ST	1.51	(0.09)	0.00	0.26	0.00	0.00	3.30	(2.92)	10.22

Blacksky Technology Corporate Management

Tammy Viola	Vice People	Profile
Kevin Rioles	Chief Officer	Profile
Pauly Cabellon	Director Communications	Profile
Henry Dubois	Chief Officer	Profile
Aly Bonilla	Vice Relations	Profile
Christiana Esq	Chief Counsel	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