Avnet Correlations

AVT Stock

USD 54.23 0.61 1.11%

The current 90-days correlation between Avnet Inc and Synnex is 0.65 (i.e., Poor diversification). The correlation of Avnet 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.

Avnet Correlation With Market

Poor diversification

The correlation between Avnet Inc and DJI is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Avnet 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 Avnet 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 real.

Moving together with Avnet Stock

0.87	SNX	Synnex Fiscal Year End 14th of January 2025	Pair Corr
0.66	S	SentinelOne	Pair Corr
0.61	BL	Blackline	Pair Corr
0.66	DT	Dynatrace Holdings LLC	Pair Corr
0.78	FN	Fabrinet	Pair Corr
0.85	MU	Micron Technology	Pair Corr

Moving against Avnet Stock

0.57

VCSA

Vacasa Inc Trending

Pair Corr

Related Correlations Analysis

	SNX	NSIT	SCSC	CNXN	ARW	SNPO	CLMB
SNX		0.1	0.49	0.35	0.31	0.28	0.36	SNX
NSIT	0.1		-0.26	0.34	0.94	-0.34	-0.77	NSIT
SCSC	0.49	-0.26		0.57	-0.13	-0.04	0.51	SCSC
CNXN	0.35	0.34	0.57		0.37	0.03	0.04	CNXN
ARW	0.31	0.94	-0.13	0.37		-0.28	-0.6	ARW
SNPO	0.28	-0.34	-0.04	0.03	-0.28		0.62	SNPO
CLMB	0.36	-0.77	0.51	0.04	-0.6	0.62		CLMB
	SNX	NSIT	SCSC	CNXN	ARW	SNPO	CLMB

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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

ARW	+ 0.94	NSIT
CLMB	+ 0.62	SNPO
CNXN	+ 0.57	SCSC
CLMB	+ 0.51	SCSC
SCSC	+ 0.49	SNX
ARW	+ 0.37	CNXN

High negative correlations

CLMB	- 0.77	NSIT
CLMB	- 0.6	ARW
SNPO	- 0.34	NSIT
SNPO	- 0.28	ARW
SCSC	- 0.26	NSIT
ARW	- 0.13	SCSC

Risk-Adjusted Indicators

There is a big difference between Avnet Stock performing well and Avnet 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 Avnet'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
SNX	1.19	(0.18)	(0.07)	(0.01)	1.74	(1.12)	1.98	(2.94)	8.22
NSIT	1.56	(0.66)	0.00	(0.28)	0.00	0.00	2.55	(3.48)	17.19
SCSC	1.76	(0.15)	0.00	0.05	1.91	(1.99)	3.13	(2.89)	15.95
CNXN	1.39	(0.19)	(0.03)	0.03	1.76	(1.50)	3.12	(2.71)	12.95
ARW	1.26	(0.33)	0.00	(0.09)	0.00	0.00	2.56	(1.98)	15.96
SNPO	1.98	0.46	0.19	0.50	1.54	(2.61)	3.77	(3.63)	29.77
CLMB	1.98	0.40	0.23	0.35	1.50	(2.18)	5.98	(3.15)	15.22

Avnet Corporate Management

Philip Gallagher	Sr. VP and Member of Executive Board	Profile
Michael McCoy	General VP	Profile
Ken Arnold	Chief VP	Profile
Joseph Burke	Vice Relations	Profile
Rebeca ObregonJimenez	Senior Management	Profile
Darrel Jackson	Corporate Secretary	Profile
David Youngblood	Chief Officer	Profile

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