Veritone Correlations

VERI Stock

USD 2.67 0.06 2.20%

The current 90-days correlation between Veritone and Crowdstrike Holdings is 0.32 (i.e., Weak diversification). The correlation of Veritone 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.

Veritone Correlation With Market

Very weak diversification

The correlation between Veritone and DJI is 0.42 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Veritone 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 Veritone. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

For more detail on how to invest in Veritone Stock please use our How to Invest in Veritone guide.

Moving together with Veritone Stock

0.83	DOCN	DigitalOcean Holdings	Pair Corr
0.75	VRNS	Varonis Systems	Pair Corr

Moving against Veritone Stock

0.62	EEFT	Euronet Worldwide	Pair Corr
0.4	EVCM	EverCommerce	Pair Corr
0.39	NN	Nextnav Acquisition Corp	Pair Corr
0.38	VRNT	Verint Systems Earnings Call This Week	Pair Corr
0.32	EVTC	Evertec	Pair Corr
0.69	LIDRW	AEye Inc	Pair Corr
0.56	FLYW	Flywire Corp	Pair Corr
0.48	FIVN	Five9 Inc	Pair Corr
0.42	PAY	Paymentus Holdings	Pair Corr
0.32	DLO	Dlocal	Pair Corr

Related Correlations Analysis

	CRWD	OKTA	NET	MDB	PANW	ZS	PATH	ADBE	PLTR
CRWD		-0.05	0.94	0.5	0.87	0.82	0.71	-0.54	0.94	CRWD
OKTA	-0.05		0.01	-0.26	0.08	0.39	0.25	0.37	-0.13	OKTA
NET	0.94	0.01		0.56	0.86	0.82	0.75	-0.49	0.86	NET
MDB	0.5	-0.26	0.56		0.47	0.3	0.6	0.09	0.55	MDB
PANW	0.87	0.08	0.86	0.47		0.86	0.66	-0.31	0.86	PANW
ZS	0.82	0.39	0.82	0.3	0.86		0.68	-0.26	0.73	ZS
PATH	0.71	0.25	0.75	0.6	0.66	0.68		-0.08	0.63	PATH
ADBE	-0.54	0.37	-0.49	0.09	-0.31	-0.26	-0.08		-0.46	ADBE
PLTR	0.94	-0.13	0.86	0.55	0.86	0.73	0.63	-0.46		PLTR
	CRWD	OKTA	NET	MDB	PANW	ZS	PATH	ADBE	PLTR

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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

NET	+ 0.94	CRWD
PLTR	+ 0.94	CRWD
PANW	+ 0.87	CRWD
PANW	+ 0.86	NET
PLTR	+ 0.86	NET
ZS	+ 0.86	PANW

High negative correlations

ADBE	- 0.54	CRWD
ADBE	- 0.49	NET
PLTR	- 0.46	ADBE
ADBE	- 0.31	PANW
ADBE	- 0.26	ZS
MDB	- 0.26	OKTA

Risk-Adjusted Indicators

There is a big difference between Veritone Stock performing well and Veritone 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 Veritone'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
CRWD	1.98	0.31	0.18	0.31	1.73	(2.24)	4.04	(3.03)	11.54
OKTA	1.47	(0.44)	0.00	(0.38)	0.00	0.00	2.39	(3.42)	17.64
NET	2.01	0.16	0.12	0.22	1.77	(2.42)	5.47	(3.44)	13.45
MDB	2.48	0.30	0.18	0.29	1.89	(2.95)	6.18	(3.09)	23.05
PANW	1.35	0.06	0.04	0.17	1.75	(1.35)	2.45	(2.51)	9.85
ZS	1.91	(0.02)	0.00	0.10	3.72	(1.94)	3.73	(3.37)	20.36
PATH	1.93	(0.06)	0.03	0.09	2.53	(1.97)	4.52	(3.82)	12.04
ADBE	1.35	(0.19)	0.00	(0.10)	0.00	0.00	2.87	(2.89)	10.09
PLTR	2.56	0.94	0.47	0.52	1.44	(3.07)	8.61	(2.80)	30.33

Veritone Corporate Management

Fleming Meng	Chief Officer	Profile
Jonathan Gacek	Legal Gov	Profile
Michael Zemetra	Chief Officer	Profile
Matthew OConnor	Chief Solutions	Profile
John Newsom	Ex VP	Profile

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