Veeva Systems Correlations

VEE Stock

EUR 212.50 4.70 2.16%

The current 90-days correlation between Veeva Systems and Teladoc is 0.12 (i.e., Average diversification). The correlation of Veeva Systems 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.

Veeva Systems Correlation With Market

Modest diversification

The correlation between Veeva Systems and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Veeva Systems and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Veeva Systems could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Veeva Systems when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Veeva Systems - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Veeva Systems to buy it.

Moving together with Veeva Stock

0.75	2HE	Healthequity	Pair Corr
0.7	4LL	Teladoc	Pair Corr
0.74	COPA	COMPUGROUP MEDSPADR	Pair Corr
0.73	COP	CompuGroup Medical	Pair Corr
0.68	COP	Compugroup Medical	Pair Corr
0.74	ESLC	ESSILORLUXOTTICA 12ON	Pair Corr
0.78	GLE	Gladstone Commercial	Pair Corr
0.82	EQN2	Equinix	Pair Corr
0.8	EN3	Enbridge	Pair Corr
0.71	SK3	Smurfit Kappa Group	Pair Corr
0.85	0XHR	Xenia Hotels Resorts	Pair Corr
0.83	GKD	Grand Canyon Education	Pair Corr
0.68	4GE	Grupo Mxico SAB	Pair Corr
0.8	CQD	Charter Communications	Pair Corr
0.84	HI91	Hilton Worldwide Holdings	Pair Corr
0.85	M4I	Mastercard	Pair Corr
0.8	AF4	HANOVER INSURANCE	Pair Corr
0.75	PCG6	PG E P6	Pair Corr
0.74	WX7	Corporate Office Pro	Pair Corr
0.7	BRYN	Berkshire Hathaway	Pair Corr

Moving against Veeva Stock

0.84	9EH	Evolent Health	Pair Corr
0.67	CJ8A	CARGOJET INC VAR	Pair Corr
0.59	6FO	GOODTECH ASA A	Pair Corr
0.49	1KJ	10X GENOMICS DL	Pair Corr
0.34	1XZ	Ping An Healthcare	Pair Corr
0.82	99Q	ENTREPARTICULIERS EO	Pair Corr
0.31	DFXN	SIERRA METALS	Pair Corr

Related Correlations Analysis

	VEE	1KJ	2HE	4LL	9EH	3CM	1XZ	COPA	COP	COP
VEE		-0.49	0.75	0.7	-0.84	0.57	-0.34	0.74	0.73	0.68	VEE
1KJ	-0.49		-0.69	-0.45	0.64	-0.24	0.01	-0.28	-0.28	-0.28	1KJ
2HE	0.75	-0.69		0.82	-0.91	0.54	0.08	0.44	0.43	0.4	2HE
4LL	0.7	-0.45	0.82		-0.78	0.65	-0.04	0.49	0.48	0.44	4LL
9EH	-0.84	0.64	-0.91	-0.78		-0.73	0.13	-0.67	-0.66	-0.63	9EH
3CM	0.57	-0.24	0.54	0.65	-0.73		-0.33	0.79	0.78	0.77	3CM
1XZ	-0.34	0.01	0.08	-0.04	0.13	-0.33		-0.66	-0.71	-0.68	1XZ
COPA	0.74	-0.28	0.44	0.49	-0.67	0.79	-0.66		0.98	0.95	COPA
COP	0.73	-0.28	0.43	0.48	-0.66	0.78	-0.71	0.98		0.96	COP
COP	0.68	-0.28	0.4	0.44	-0.63	0.77	-0.68	0.95	0.96		COP
	VEE	1KJ	2HE	4LL	9EH	3CM	1XZ	COPA	COP	COP

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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

COP	+ 0.98	COPA
COP	+ 0.96	COP
COP	+ 0.95	COPA
4LL	+ 0.82	2HE
COPA	+ 0.79	3CM
COP	+ 0.78	3CM

High negative correlations

9EH	- 0.91	2HE
9EH	- 0.84	VEE
9EH	- 0.78	4LL
3CM	- 0.73	9EH
COP	- 0.71	1XZ
2HE	- 0.69	1KJ

Risk-Adjusted Indicators

There is a big difference between Veeva Stock performing well and Veeva Systems 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 Veeva Systems' 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
VEE	1.74	0.12	0.05	0.19	1.97	(1.87)	3.80	(3.17)	15.16
1KJ	3.72	(0.59)	0.00	0.85	0.00	0.00	6.10	(8.15)	30.50
2HE	1.56	0.39	0.20	0.55	1.48	(2.19)	2.82	(2.58)	19.03
4LL	3.17	0.22	0.06	0.25	3.21	(3.85)	8.58	(5.29)	19.20
9EH	3.50	(1.27)	0.00	2.18	0.00	0.00	5.71	(7.44)	42.67
3CM	2.65	0.43	0.11	(0.79)	3.13	(3.16)	6.92	(5.62)	17.04
1XZ	4.84	(0.05)	0.00	(0.01)	0.00	0.00	11.11	(8.54)	73.47
COPA	3.53	0.85	0.18	1.57	3.02	(6.14)	11.94	(7.38)	44.01
COP	2.20	0.84	0.34	(25.09)	1.65	(2.70)	6.62	(2.46)	32.53
COP	2.47	0.74	0.31	2.02	1.88	(3.21)	6.25	(3.42)	35.75

Be your own money manager

Our tools can tell you how much better you can do entering a position in Veeva Systems without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Veeva Systems Corporate Management

Elected by the shareholders, the Veeva Systems' board of directors comprises two types of representatives: Veeva Systems inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Veeva. The board's role is to monitor Veeva Systems' management team and ensure that shareholders' interests are well served. Veeva Systems' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Veeva Systems' outside directors are responsible for providing unbiased perspectives on the board's policies.

Ato Garrett	Director Relations	Profile
Michele OConnor	Principal Accounting Officer	Profile
Pinal Patel	Chief Officer	Profile
Jacques Mourrain	VP Compliance	Profile

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