AudioCodes Correlations

AUDC Stock

USD 10.14 0.07 0.69%

The current 90-days correlation between AudioCodes and Aviat Networks is 0.4 (i.e., Very weak diversification). The correlation of AudioCodes 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.

AudioCodes Correlation With Market

Weak diversification

The correlation between AudioCodes and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AudioCodes 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 AudioCodes. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

For information on how to trade AudioCodes Stock refer to our How to Trade AudioCodes Stock guide.

Moving together with AudioCodes Stock

0.7	VIAV	Viavi Solutions	Pair Corr
0.83	FFIV	F5 Networks	Pair Corr
0.72	CLS	Celestica	Pair Corr
0.73	DLB	Dolby Laboratories	Pair Corr
0.69	GLW	Corning Incorporated	Pair Corr
0.71	JBL	Jabil Circuit	Pair Corr

Moving against AudioCodes Stock

0.76	EHGO	Eshallgo Class A	Pair Corr
0.54	DSWL	Deswell Industries	Pair Corr
0.47	EBON	Ebang International	Pair Corr
0.43	DM	Desktop Metal Tech Boost	Pair Corr
0.39	KE	Kimball Electronics	Pair Corr
0.34	KN	Knowles Cor	Pair Corr
0.57	CTS	CTS Corporation	Pair Corr
0.49	EXTR	Extreme Networks	Pair Corr
0.44	BHE	Benchmark Electronics	Pair Corr
0.5	MOB	Mobilicom Limited	Pair Corr
0.48	ROG	Rogers	Pair Corr
0.41	PAR	PAR Technology	Pair Corr
0.39	PAY	Paymentus Holdings	Pair Corr
0.32	UUU	Universal Security	Pair Corr

Related Correlations Analysis

	AVNW	SILC	AKTS	GILT	CMBM	CRNT	KVHI	KN	CMTL
AVNW		0.37	0.0	0.81	0.62	-0.23	0.46	-0.4	-0.53	AVNW
SILC	0.37		0.0	0.41	0.66	0.4	0.58	0.34	-0.05	SILC
AKTS	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	AKTS
GILT	0.81	0.41	0.0		0.49	-0.4	0.39	-0.53	-0.77	GILT
CMBM	0.62	0.66	0.0	0.49		0.37	0.79	0.23	-0.2	CMBM
CRNT	-0.23	0.4	0.0	-0.4	0.37		0.39	0.91	0.66	CRNT
KVHI	0.46	0.58	0.0	0.39	0.79	0.39		0.32	-0.19	KVHI
KN	-0.4	0.34	0.0	-0.53	0.23	0.91	0.32		0.74	KN
CMTL	-0.53	-0.05	0.0	-0.77	-0.2	0.66	-0.19	0.74		CMTL
	AVNW	SILC	AKTS	GILT	CMBM	CRNT	KVHI	KN	CMTL

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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

KN	+ 0.91	CRNT
GILT	+ 0.81	AVNW
KVHI	+ 0.79	CMBM
CMTL	+ 0.74	KN
CMBM	+ 0.66	SILC
CMTL	+ 0.66	CRNT

High negative correlations

CMTL	- 0.77	GILT
KN	- 0.53	GILT
CMTL	- 0.53	AVNW
CRNT	- 0.4	GILT
KN	- 0.4	AVNW
CRNT	- 0.23	AVNW

Risk-Adjusted Indicators

There is a big difference between AudioCodes Stock performing well and AudioCodes 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 AudioCodes' 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
AVNW	2.52	0.37	0.12	0.15	2.64	(3.00)	5.24	(4.90)	34.98
SILC	2.29	0.14	0.07	0.33	2.63	(2.48)	5.70	(5.24)	16.81
AKTS	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
GILT	2.37	0.34	0.12	0.17	2.42	(3.02)	5.85	(4.55)	19.71
CMBM	6.70	0.35	0.02	0.02	7.69	(7.96)	15.69	(15.38)	37.73
CRNT	3.83	(0.58)	0.00	(0.57)	0.00	0.00	8.61	(6.81)	37.31
KVHI	1.72	(0.13)	0.00	(1.41)	0.00	0.00	2.92	(4.35)	12.61
KN	1.18	(0.20)	0.00	(0.32)	0.00	0.00	1.86	(2.70)	6.22
CMTL	6.05	(0.58)	0.00	0.43	0.00	0.00	18.18	(9.39)	65.93

AudioCodes Corporate Executives

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

	Niran CPA	CFO Finance	Profile
	Lior Aldema	COO and Head of Global Sales	Profile

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