Blackline Correlations

BL Stock

USD 61.88 1.19 1.89%

The current 90-days correlation between Blackline and Manhattan Associates is 0.45 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Blackline moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Blackline moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Blackline Correlation With Market

Poor diversification

The correlation between Blackline and DJI is 0.66 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Blackline 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 Blackline. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

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

Moving together with Blackline Stock

0.72	DJCO	Daily Journal Corp	Pair Corr
0.79	AI	C3 Ai Inc Earnings Call This Week	Pair Corr
0.76	DT	Dynatrace Holdings LLC	Pair Corr
0.76	KC	Kingsoft Cloud Holdings Upward Rally	Pair Corr
0.73	ML	MoneyLion	Pair Corr
0.62	QH	Quhuo	Pair Corr
0.86	WK	Workiva	Pair Corr
0.82	ZM	Zoom Video Communications	Pair Corr
0.96	DOCU	DocuSign Earnings Call This Week	Pair Corr
0.78	DOMO	Domo Inc Earnings Call Today	Pair Corr
0.91	VERX	Vertex	Pair Corr
0.93	DSGX	Descartes Systems Earnings Call This Week	Pair Corr
0.92	DUOL	Duolingo	Pair Corr
0.91	DUOT	Duos Technologies	Pair Corr
0.82	EGHT	8x8 Common Stock	Pair Corr
0.8	ENFN	Enfusion	Pair Corr

Moving against Blackline Stock

0.53	DMAN	Innovativ Media Group	Pair Corr
0.5	VCSA	Vacasa Inc Trending	Pair Corr
0.67	VERB	VERB TECHNOLOGY PANY Tech Boost	Pair Corr
0.61	ILLRW	Triller Group Symbol Change	Pair Corr
0.56	ELCO	Elcom International	Pair Corr
0.42	VTEX	VTEX	Pair Corr
0.33	WALD	Waldencast Acquisition	Pair Corr
0.32	EGAN	eGain	Pair Corr
0.89	EVOL	Evolving Systems	Pair Corr
0.83	ETWO	E2open Parent Holdings	Pair Corr

Related Correlations Analysis

	MANH	AZPN	DV	ANSS	ALKT	WK	AGYS	AMSWA	APPF	QTWO
MANH		0.48	-0.19	0.48	0.29	0.34	0.5	0.44	-0.12	0.33	MANH
AZPN	0.48		0.32	0.79	0.7	0.81	0.65	0.74	0.16	0.86	AZPN
DV	-0.19	0.32		0.57	0.41	0.68	0.63	-0.05	0.55	0.59	DV
ANSS	0.48	0.79	0.57		0.75	0.92	0.81	0.61	0.29	0.93	ANSS
ALKT	0.29	0.7	0.41	0.75		0.76	0.63	0.71	-0.14	0.81	ALKT
WK	0.34	0.81	0.68	0.92	0.76		0.85	0.55	0.36	0.96	WK
AGYS	0.5	0.65	0.63	0.81	0.63	0.85		0.38	0.27	0.78	AGYS
AMSWA	0.44	0.74	-0.05	0.61	0.71	0.55	0.38		-0.22	0.68	AMSWA
APPF	-0.12	0.16	0.55	0.29	-0.14	0.36	0.27	-0.22		0.27	APPF
QTWO	0.33	0.86	0.59	0.93	0.81	0.96	0.78	0.68	0.27		QTWO
	MANH	AZPN	DV	ANSS	ALKT	WK	AGYS	AMSWA	APPF	QTWO

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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

QTWO	+ 0.96	WK
QTWO	+ 0.93	ANSS
WK	+ 0.92	ANSS
QTWO	+ 0.86	AZPN
AGYS	+ 0.85	WK
WK	+ 0.81	AZPN

High negative correlations

APPF	- 0.22	AMSWA
DV	- 0.19	MANH
APPF	- 0.14	ALKT
APPF	- 0.12	MANH
AMSWA	- 0.05	DV

Risk-Adjusted Indicators

There is a big difference between Blackline Stock performing well and Blackline 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 Blackline'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
MANH	1.33	(0.03)	0.02	0.10	1.86	(1.38)	3.13	(2.66)	10.50
AZPN	1.02	0.14	0.09	0.29	1.04	(1.10)	2.39	(2.08)	8.52
DV	1.62	(0.09)	(0.02)	0.06	1.94	(1.82)	3.51	(4.04)	10.96
ANSS	1.17	0.01	0.01	0.13	1.36	(1.21)	2.76	(2.32)	10.35
ALKT	2.01	0.03	0.06	0.14	2.40	(2.24)	5.03	(4.89)	11.93
WK	1.55	0.12	0.11	0.19	1.45	(1.71)	3.56	(2.83)	8.56
AGYS	1.91	0.04	0.06	0.14	2.84	(1.83)	4.17	(5.24)	14.47
AMSWA	1.44	0.29	0.11	(8.43)	1.18	(1.67)	3.79	(2.53)	10.40
APPF	1.45	(0.01)	0.01	0.11	2.17	(1.56)	2.86	(2.27)	15.04
QTWO	1.61	0.39	0.28	0.39	1.17	(2.04)	3.82	(2.54)	18.28

Blackline Corporate Management

Sumit Johar	Chief Officer	Profile
Jill Knesek	Chief Officer	Profile
Alexandra Geller	VP Relations	Profile
Emily Campbell	Chief Officer	Profile
Dominick DiPaolo	Senior Sales	Profile
Jeremy Ung	Chief Officer	Profile

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