Descartes Systems Correlations

DSGX Stock

USD 97.94 0.89 0.92%

The current 90-days correlation between Descartes Systems and New Mountain Finance is 0.39 (i.e., Weak diversification). The correlation of Descartes 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Descartes Systems Correlation With Market

Very weak diversification

The correlation between Descartes Systems Group and DJI is 0.5 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Descartes Systems Group and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Descartes Systems Group. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with Descartes Stock

0.65	DV	DoubleVerify Holdings	Pair Corr
0.72	DOCU	DocuSign	Pair Corr
0.72	DOMO	Domo Inc	Pair Corr
0.73	VERX	Vertex	Pair Corr

Moving against Descartes Stock

0.43	WFCF	Where Food Comes	Pair Corr
0.42	EVOL	Evolving Systems	Pair Corr
0.4	WALD	Waldencast Acquisition	Pair Corr

Related Correlations Analysis

	MRSN	JPM	HPQ	MRK	CVX	APO	GOOGL	NMFC	DVN	IENAX
MRSN		-0.5	0.66	0.84	0.83	0.81	0.72	0.47	0.65	0.25	MRSN
JPM	-0.5		0.09	-0.5	-0.22	-0.02	-0.37	0.36	-0.17	0.36	JPM
HPQ	0.66	0.09		0.61	0.75	0.81	0.57	0.71	0.67	0.6	HPQ
MRK	0.84	-0.5	0.61		0.75	0.72	0.79	0.39	0.67	0.25	MRK
CVX	0.83	-0.22	0.75	0.75		0.87	0.83	0.64	0.9	0.68	CVX
APO	0.81	-0.02	0.81	0.72	0.87		0.72	0.81	0.73	0.57	APO
GOOGL	0.72	-0.37	0.57	0.79	0.83	0.72		0.45	0.84	0.5	GOOGL
NMFC	0.47	0.36	0.71	0.39	0.64	0.81	0.45		0.49	0.57	NMFC
DVN	0.65	-0.17	0.67	0.67	0.9	0.73	0.84	0.49		0.8	DVN
IENAX	0.25	0.36	0.6	0.25	0.68	0.57	0.5	0.57	0.8		IENAX
	MRSN	JPM	HPQ	MRK	CVX	APO	GOOGL	NMFC	DVN	IENAX

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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

DVN	+ 0.9	CVX
APO	+ 0.87	CVX
MRK	+ 0.84	MRSN
DVN	+ 0.84	GOOGL
CVX	+ 0.83	MRSN
GOOGL	+ 0.83	CVX

High negative correlations

MRK	- 0.5	JPM
JPM	- 0.5	MRSN
GOOGL	- 0.37	JPM
CVX	- 0.22	JPM
DVN	- 0.17	JPM
APO	- 0.02	JPM

Risk-Adjusted Indicators

There is a big difference between Descartes Stock performing well and Descartes 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 Descartes 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
MRSN	4.16	(0.47)	0.00	(0.05)	0.00	0.00	10.64	(8.89)	33.22
JPM	1.11	(0.03)	(0.01)	0.05	1.76	(0.96)	2.05	(2.63)	7.98
HPQ	1.36	(0.20)	0.00	(0.09)	0.00	0.00	2.30	(3.25)	6.74
MRK	1.09	(0.18)	0.00	5.76	0.00	0.00	1.71	(2.09)	13.12
CVX	1.01	(0.24)	0.00	(0.16)	0.00	0.00	1.89	(2.22)	7.49
APO	1.46	(0.21)	0.00	(0.03)	0.00	0.00	2.88	(3.81)	13.61
GOOGL	1.29	(0.26)	0.00	(0.19)	0.00	0.00	2.28	(3.68)	7.73
NMFC	0.48	(0.05)	0.00	(0.03)	0.00	0.00	0.98	(0.82)	3.52
DVN	1.29	(0.33)	0.00	(0.18)	0.00	0.00	2.83	(3.06)	9.01
IENAX	0.88	(0.16)	0.00	(0.10)	0.00	0.00	1.36	(2.15)	5.40

Descartes Systems Corporate Management

BA BA	CEO Director	Profile
Maija Michell	Senior Resources	Profile
Peter Nguyen	General Legal	Profile
Edward Gardner	Executive Development	Profile

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