Aviat Networks Correlations

AVNW Stock

USD 19.65 0.20 1.01%

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

Aviat Networks Correlation With Market

Weak diversification

The correlation between Aviat Networks and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Aviat Networks 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 Aviat Networks. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

For more information on how to buy Aviat Stock please use our How to Invest in Aviat Networks guide.

Moving together with Aviat Stock

0.8	CSCO	Cisco Systems	Pair Corr
0.73	IBM	International Business	Pair Corr
0.68	GROV	Virgin Group Acquisition	Pair Corr
0.66	AVAL	Grupo Aval	Pair Corr
0.73	BAOB	Baraboo Bancorporation	Pair Corr
0.65	AXSM	Axsome Therapeutics	Pair Corr
0.73	TOI	Oncology Institute Earnings Call This Week	Pair Corr
0.66	NVRO	Nevro Corp	Pair Corr

Related Correlations Analysis

	AUDC	SILC	AKTS	GILT	MYNA	KN	CMTL	ITRN	KVHI
AUDC		0.45	0.0	0.82	-0.57	-0.29	-0.55	0.57	0.53	AUDC
SILC	0.45		0.0	0.35	-0.21	0.46	0.06	-0.05	0.68	SILC
AKTS	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	AKTS
GILT	0.82	0.35	0.0		-0.67	-0.5	-0.75	0.74	0.4	GILT
MYNA	-0.57	-0.21	0.0	-0.67		0.56	0.68	-0.64	-0.06	MYNA
KN	-0.29	0.46	0.0	-0.5	0.56		0.74	-0.78	0.35	KN
CMTL	-0.55	0.06	0.0	-0.75	0.68	0.74		-0.72	-0.17	CMTL
ITRN	0.57	-0.05	0.0	0.74	-0.64	-0.78	-0.72		0.03	ITRN
KVHI	0.53	0.68	0.0	0.4	-0.06	0.35	-0.17	0.03		KVHI
	AUDC	SILC	AKTS	GILT	MYNA	KN	CMTL	ITRN	KVHI

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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

GILT	+ 0.82	AUDC
ITRN	+ 0.74	GILT
CMTL	+ 0.74	KN
KVHI	+ 0.68	SILC
CMTL	+ 0.68	MYNA
ITRN	+ 0.57	AUDC

High negative correlations

ITRN	- 0.78	KN
CMTL	- 0.75	GILT
ITRN	- 0.72	CMTL
MYNA	- 0.67	GILT
ITRN	- 0.64	MYNA
MYNA	- 0.57	AUDC

Risk-Adjusted Indicators

There is a big difference between Aviat Stock performing well and Aviat Networks 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 Aviat Networks' 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
AUDC	1.84	0.21	0.12	0.14	1.64	(2.58)	5.34	(2.76)	12.16
SILC	2.24	0.04	0.03	0.04	2.70	(2.40)	5.53	(5.24)	16.81
AKTS	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
GILT	2.38	0.30	0.11	0.17	2.42	(3.02)	5.85	(4.55)	19.71
MYNA	12.78	(0.92)	0.00	5.19	0.00	0.00	36.96	(31.58)	167.72
KN	1.20	(0.25)	0.00	(0.34)	0.00	0.00	1.86	(2.70)	6.22
CMTL	6.04	(0.52)	0.00	0.41	0.00	0.00	18.18	(9.39)	65.93
ITRN	1.91	0.39	0.22	0.54	1.71	(2.52)	4.03	(3.58)	21.39
KVHI	1.75	(0.08)	0.00	(0.88)	0.00	0.00	2.92	(4.35)	12.61

Aviat Networks Corporate Management

Erin Boase	VP Counsel	Profile
Bryan Tucker	VP Americas	Profile
James Flynn	Vice Chain	Profile
Keith Fanneron	VP Relations	Profile
Christy Cornet	Vice Chain	Profile
Spencer Stoakley	Chief Officer	Profile
Andrew Fredrickson	Director Relations	Profile

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