Belden Correlations

BDC Stock

USD 104.16 1.69 1.60%

The current 90-days correlation between Belden Inc and Extreme Networks is 0.63 (i.e., Poor diversification). The correlation of Belden 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.

Belden Correlation With Market

Very weak diversification

The correlation between Belden Inc and DJI is 0.46 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Belden 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 Belden 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 unemployment.

Moving together with Belden Stock

0.71	DM	Desktop Metal Earnings Call This Week	Pair Corr
0.78	FN	Fabrinet	Pair Corr
0.73	KE	Kimball Electronics	Pair Corr
0.73	KN	Knowles Cor	Pair Corr
0.82	EBON	Ebang International	Pair Corr
0.7	EXTR	Extreme Networks	Pair Corr
0.88	APH	Amphenol	Pair Corr
0.84	BHE	Benchmark Electronics	Pair Corr
0.78	CTS	CTS Corporation	Pair Corr
0.69	HPQ	HP Inc	Pair Corr
0.75	MSI	Motorola Solutions	Pair Corr

Moving against Belden Stock

0.7	EMKR	EMCORE	Pair Corr
0.5	AMPGW	AmpliTech Group	Pair Corr
0.44	SATLW	Satellogic Warrant	Pair Corr
0.71	FKWL	Franklin Wireless Corp	Pair Corr
0.41	FFIV	F5 Networks	Pair Corr
0.32	FEIM	Frequency Electronics Earnings Call This Week	Pair Corr
0.7	NOK	Nokia Corp ADR Sell-off Trend	Pair Corr
0.64	SNT	Senstar Technologies	Pair Corr
0.4	GAUZ	Gauzy Ordinary Downward Rally	Pair Corr
0.37	OST	Ostin Technology	Pair Corr
0.34	OCC	Optical Cable Earnings Call This Week	Pair Corr
0.31	JBL	Jabil Circuit Earnings Call This Week	Pair Corr

Related Correlations Analysis

	CLFD	CMTL	KN	EXTR	KVHI	ADTN	MYNA	TSAT	DGII	NTGR
CLFD		-0.38	0.15	-0.14	0.65	0.48	-0.2	0.3	-0.04	0.37	CLFD
CMTL	-0.38		0.73	0.72	-0.63	-0.73	0.41	-0.47	-0.21	-0.14	CMTL
KN	0.15	0.73		0.83	-0.24	-0.57	0.47	-0.34	-0.08	0.01	KN
EXTR	-0.14	0.72	0.83		-0.4	-0.69	0.62	-0.46	0.0	-0.25	EXTR
KVHI	0.65	-0.63	-0.24	-0.4		0.68	-0.05	0.48	0.37	0.26	KVHI
ADTN	0.48	-0.73	-0.57	-0.69	0.68		-0.55	0.7	0.23	0.47	ADTN
MYNA	-0.2	0.41	0.47	0.62	-0.05	-0.55		-0.58	0.27	-0.6	MYNA
TSAT	0.3	-0.47	-0.34	-0.46	0.48	0.7	-0.58		0.38	0.7	TSAT
DGII	-0.04	-0.21	-0.08	0.0	0.37	0.23	0.27	0.38		0.13	DGII
NTGR	0.37	-0.14	0.01	-0.25	0.26	0.47	-0.6	0.7	0.13		NTGR
	CLFD	CMTL	KN	EXTR	KVHI	ADTN	MYNA	TSAT	DGII	NTGR

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

EXTR	+ 0.83	KN
KN	+ 0.73	CMTL
EXTR	+ 0.72	CMTL
TSAT	+ 0.7	ADTN
NTGR	+ 0.7	TSAT
ADTN	+ 0.68	KVHI

High negative correlations

ADTN	- 0.73	CMTL
ADTN	- 0.69	EXTR
KVHI	- 0.63	CMTL
NTGR	- 0.6	MYNA
TSAT	- 0.58	MYNA
ADTN	- 0.57	KN

Risk-Adjusted Indicators

There is a big difference between Belden Stock performing well and Belden 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 Belden'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
CLFD	2.16	0.08	0.04	0.23	2.95	(2.29)	4.85	(5.93)	13.68
CMTL	5.49	(0.40)	0.00	(0.25)	0.00	0.00	15.23	(8.43)	65.93
KN	1.22	(0.20)	0.00	(0.29)	0.00	0.00	2.07	(2.70)	7.46
EXTR	1.62	(0.09)	0.00	(0.16)	0.00	0.00	2.82	(3.97)	9.89
KVHI	1.32	0.08	0.07	(3.26)	1.81	(1.37)	2.83	(2.61)	8.85
ADTN	2.22	0.43	0.15	0.32	2.42	(2.59)	6.96	(3.61)	16.77
MYNA	12.78	(0.83)	0.00	(0.77)	0.00	0.00	36.96	(31.58)	167.72
TSAT	3.65	0.62	0.16	0.76	3.48	(4.11)	7.63	(5.49)	22.97
DGII	1.80	(0.06)	0.00	(0.13)	0.00	0.00	2.37	(4.09)	21.42
NTGR	2.07	0.05	0.04	1.34	2.66	(2.19)	4.17	(4.82)	12.12

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC