ADTRAN Correlations

ADTN Stock

USD 9.00 0.03 0.33%

The current 90-days correlation between ADTRAN Inc and Telesat Corp is 0.25 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as ADTRAN moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ADTRAN Inc moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ADTRAN Correlation With Market

Very weak diversification

The correlation between ADTRAN Inc and DJI is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ADTRAN Inc and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in ADTRAN 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 estimate.

Moving together with ADTRAN Stock

0.63	VIAV	Viavi Solutions	Pair Corr
0.85	FFIV	F5 Networks	Pair Corr
0.61	FLEX	Flex	Pair Corr
0.69	CDW	CDW Corp	Pair Corr
0.8	CLS	Celestica	Pair Corr
0.67	DLB	Dolby Laboratories	Pair Corr
0.75	GLW	Corning Incorporated	Pair Corr
0.81	JBL	Jabil Circuit	Pair Corr

Moving against ADTRAN Stock

0.68	EHGO	Eshallgo Class A	Pair Corr
0.44	DSWL	Deswell Industries	Pair Corr
0.34	EBON	Ebang International	Pair Corr
0.32	DM	Desktop Metal Tech Boost	Pair Corr
0.41	CTS	CTS Corporation	Pair Corr
0.33	EXTR	Extreme Networks	Pair Corr
0.36	MOB	Mobilicom Limited	Pair Corr
0.33	ROG	Rogers	Pair Corr
0.31	PAY	Paymentus Holdings	Pair Corr

Related Correlations Analysis

	MYNA	KVHI	TSAT	DGII	CASA	CMTL	KN	ITRN	AVNW	CMBM
MYNA		-0.04	-0.39	0.23	0.0	0.59	0.54	-0.66	-0.53	-0.17	MYNA
KVHI	-0.04		-0.13	0.58	0.0	-0.19	0.32	0.05	0.46	0.79	KVHI
TSAT	-0.39	-0.13		0.27	0.0	-0.42	-0.5	0.4	0.47	0.22	TSAT
DGII	0.23	0.58	0.27		0.0	-0.06	0.2	0.06	0.46	0.62	DGII
CASA	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	CASA
CMTL	0.59	-0.19	-0.42	-0.06	0.0		0.74	-0.72	-0.53	-0.2	CMTL
KN	0.54	0.32	-0.5	0.2	0.0	0.74		-0.78	-0.4	0.23	KN
ITRN	-0.66	0.05	0.4	0.06	0.0	-0.72	-0.78		0.61	0.03	ITRN
AVNW	-0.53	0.46	0.47	0.46	0.0	-0.53	-0.4	0.61		0.62	AVNW
CMBM	-0.17	0.79	0.22	0.62	0.0	-0.2	0.23	0.03	0.62		CMBM
	MYNA	KVHI	TSAT	DGII	CASA	CMTL	KN	ITRN	AVNW	CMBM

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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

CMBM	+ 0.79	KVHI
KN	+ 0.74	CMTL
CMBM	+ 0.62	DGII
CMBM	+ 0.62	AVNW
AVNW	+ 0.61	ITRN
CMTL	+ 0.59	MYNA

High negative correlations

ITRN	- 0.78	KN
ITRN	- 0.72	CMTL
ITRN	- 0.66	MYNA
AVNW	- 0.53	CMTL
AVNW	- 0.53	MYNA
KN	- 0.5	TSAT

Risk-Adjusted Indicators

There is a big difference between ADTRAN Stock performing well and ADTRAN 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 ADTRAN'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
MYNA	12.78	(1.16)	0.00	0.35	0.00	0.00	36.96	(31.58)	167.72
KVHI	1.72	(0.13)	0.00	(1.41)	0.00	0.00	2.92	(4.35)	12.61
TSAT	3.97	0.72	0.18	0.81	3.61	(4.60)	7.63	(5.52)	34.21
DGII	1.93	(0.08)	0.00	(0.17)	0.00	0.00	3.38	(4.09)	21.42
CASA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CMTL	6.05	(0.58)	0.00	0.43	0.00	0.00	18.18	(9.39)	65.93
KN	1.18	(0.20)	0.00	(0.32)	0.00	0.00	1.86	(2.70)	6.22
ITRN	1.90	0.39	0.23	0.53	1.68	(2.57)	4.00	(3.59)	21.38
AVNW	2.52	0.37	0.12	0.15	2.64	(3.00)	5.24	(4.90)	34.98
CMBM	6.70	0.35	0.02	0.02	7.69	(7.96)	15.69	(15.38)	37.73

ADTRAN Corporate Management

James Wilson	Sr. VP of Technology and Strategy	Profile
Keith Atwell	Head Development	Profile
Timothy CPA	Principal Finance	Profile
Ronan Kelly	Chief Regions	Profile
Christoph Glingener	Chief Officer	Profile

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