Snap Correlations

Stocks . USA . 
Stock . Snap Inc
SNAP Stock  USD 11.81  0.20  1.72%   
The current 90-days correlation between Snap Inc and Twilio Inc is 0.03 (i.e., Significant diversification). The correlation of Snap 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.

Snap Correlation With Market

Modest diversification

The correlation between Snap Inc and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Snap Inc 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 Snap Inc. 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 Snap Stock

  0.79GOOG Alphabet Class C Sell-off TrendPairCorr
  0.72IZEA IZEA IncPairCorr
  0.66KIND Nextdoor HoldingsPairCorr
  0.78META Meta Platforms Aggressive PushPairCorr
  0.62NRDS NerdwalletPairCorr

Moving against Snap Stock

  0.67EVER EverQuote Class APairCorr
  0.65TC TuanChe ADRPairCorr
  0.38MAX MediaAlphaPairCorr
  0.76GIFT RDE, Inc Symbol ChangePairCorr
  0.67GROM Grom Social EnterprisesPairCorr
  0.64SEATW Vivid Seats WarrantPairCorr
  0.48KRKR 36Kr HoldingsPairCorr
  0.35ZDGE Zedge IncPairCorr
  0.79RIME Algorhythm Holdings, Symbol ChangePairCorr

Related Correlations Analysis

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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   
GOOG
+ 1.0
GOOGL
SPOT
+ 0.92
TWLO
FVRR
+ 0.85
TWLO
GOOG
+ 0.77
TWLO
SPOT
+ 0.77
FVRR
GOOGL
+ 0.76
TWLO
  
High negative correlations   
PINS
- 0.4
FVRR
BIDU
- 0.37
FVRR
BIDU
- 0.25
TWLO
PINS
- 0.21
SPOT
PINS
- 0.18
TWLO
BIDU
- 0.15
SPOT

Risk-Adjusted Indicators

There is a big difference between Snap Stock performing well and Snap 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 Snap'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.

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