8x8 Common Correlations
| EGHT Stock | USD 2.20 0.02 0.92% |
The correlation of 8x8 Common 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as 8x8 Common moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if 8x8 Common Stock moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Weak diversification
The correlation between 8x8 Common Stock and NYA is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding 8x8 Common Stock and NYA in the same portfolio, assuming nothing else is changed.
8x8 |
The ability to find closely correlated positions to 8x8 Common could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 8x8 Common 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 8x8 Common - 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 8x8 Common Stock to buy it.
Moving together with 8x8 Stock
| 0.62 | U | Unity Software Financial Report 8th of May 2024 | PairCorr |
| 0.73 | DT | Dynatrace Holdings LLC Financial Report 15th of May 2024 | PairCorr |
| 0.73 | PD | Pagerduty Financial Report 6th of June 2024 | PairCorr |
| 0.62 | VS | Versus Systems Financial Report 20th of May 2024 | PairCorr |
| 0.8 | WK | Workiva Financial Report 7th of May 2024 | PairCorr |
| 0.72 | ZM | Zoom Video Communications Financial Report 27th of May 2024 | PairCorr |
Moving against 8x8 Stock
| 0.54 | ML | MoneyLion Financial Report 14th of May 2024 | PairCorr |
| 0.78 | DPSI | DecisionPoint Systems Financial Report 20th of May 2024 | PairCorr |
| 0.73 | DIDIY | Didi Global ADR Buyout Trend | PairCorr |
| 0.48 | VERX | Vertex Financial Report 8th of May 2024 | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Risk-Adjusted Indicators
There is a big difference between 8x8 Stock performing well and 8x8 Common 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 8x8 Common'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| AI | 3.08 | (0.32) | 0.00 | (0.02) | 0.00 | 7.84 | 32.77 | |||
| SHOP | 1.94 | (0.29) | 0.00 | (0.05) | 0.00 | 4.43 | 21.49 | |||
| SNOW | 2.17 | (0.45) | 0.00 | (0.18) | 0.00 | 4.17 | 27.55 | |||
| NOW | 1.31 | (0.13) | 0.00 | (0.04) | 0.00 | 2.84 | 8.90 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in 8x8 Common 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.Did you try this?
Run Watchlist Optimization Now
Watchlist OptimizationOptimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm |
| All Next | Launch Module |
8x8 Common Corporate Directors
8x8 Common corporate directors refer to members of a 8x8 Common board of directors. The board of directors generally takes responsibility for the 8x8 Common's affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of 8x8 Common's board members must vote for the resolution. The 8x8 Common board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.| Bryan Martin | Chief Technology Officer, Director | Profile | |
| Ian Potter | Director | Profile | |
| Todd Ford | Independent Director | Profile | |
| Elizabeth Theophille | Independent Director | Profile |
Already Invested in 8x8 Common Stock?
The danger of trading 8x8 Common Stock is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of 8x8 Common is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than 8x8 Common. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile 8x8 Common Stock is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether 8x8 Common Stock is a good investment, qualitative aspects like company management, corporate governance, and ethical practices play a significant role. A comparison with peer companies also provides context and helps to understand if 8x8 Stock is undervalued or overvalued. This multi-faceted approach, blending both quantitative and qualitative analysis, forms a solid foundation for making an informed investment decision about 8x8 Common Stock Stock. Highlighted below are key reports to facilitate an investment decision about 8x8 Common Stock Stock: Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in 8x8 Common Stock. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in rate. Note that the 8x8 Common Stock information on this page should be used as a complementary analysis to other 8x8 Common's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Global Correlations module to find global opportunities by holding instruments from different markets.
Complementary Tools for 8x8 Stock analysis
When running 8x8 Common's price analysis, check to measure 8x8 Common's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy 8x8 Common is operating at the current time. Most of 8x8 Common's value examination focuses on studying past and present price action to predict the probability of 8x8 Common's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move 8x8 Common's price. Additionally, you may evaluate how the addition of 8x8 Common to your portfolios can decrease your overall portfolio volatility.
| Idea Analyzer Analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas | |
| Positions Ratings Determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Performance Analysis Check effects of mean-variance optimization against your current asset allocation | |
| Equity Valuation Check real value of public entities based on technical and fundamental data | |
| Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Portfolio Backtesting Avoid under-diversification and over-optimization by backtesting your portfolios |
Is 8x8 Common's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of 8x8 Common. If investors know 8x8 will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about 8x8 Common listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (0.45) | Revenue Per Share 6.179 | Quarterly Revenue Growth 0.174 | Return On Assets (0) | Return On Equity (0.54) |
The market value of 8x8 Common Stock is measured differently than its book value, which is the value of 8x8 that is recorded on the company's balance sheet. Investors also form their own opinion of 8x8 Common's value that differs from its market value or its book value, called intrinsic value, which is 8x8 Common's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because 8x8 Common's market value can be influenced by many factors that don't directly affect 8x8 Common's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between 8x8 Common's value and its price as these two are different measures arrived at by different means. Investors typically determine if 8x8 Common is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, 8x8 Common's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.