Belden Correlations

BDC Stock

USD 122.40 0.53 0.43%

The current 90-days correlation between Belden Inc and Extreme Networks is 0.47 (i.e., Very weak 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

Poor diversification

The correlation between Belden Inc and DJI is 0.79 (i.e., Poor 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

0.62	KE	Kimball Electronics	Pair Corr
0.7	ERIC	Telefonaktiebolaget Aggressive Push	Pair Corr
0.69	EXTR	Extreme Networks	Pair Corr
0.88	FLEX	Flex	Pair Corr
0.72	DLB	Dolby Laboratories	Pair Corr
0.92	HPE	Hewlett Packard Ente	Pair Corr
0.84	HPQ	HP Inc	Pair Corr
0.79	MSI	Motorola Solutions	Pair Corr
0.65	WDC	Western Digital	Pair Corr
0.92	ZBRA	Zebra Technologies	Pair Corr
0.64	INFN	Infinera	Pair Corr
0.81	LITE	Lumentum Holdings	Pair Corr
0.77	NTGR	NETGEAR	Pair Corr
0.7	RDCM	Radcom	Pair Corr
0.63	SPCB	Supercom	Pair Corr
0.63	SSYS	Stratasys	Pair Corr
0.63	BOSC	BOS Better Online	Pair Corr
0.95	CIEN	Ciena Corp Earnings Call This Week	Pair Corr

Moving against Belden Stock

0.51	INVZW	Innoviz Technologies	Pair Corr
0.42	CDW	CDW Corp	Pair Corr
0.42	UKOMW	Ucommune International	Pair Corr
0.39	VRME	VerifyMe	Pair Corr
0.38	EVLV	Evolv Technologies Trending	Pair Corr
0.35	VSH	Vishay Intertechnology Tech Boost	Pair Corr
0.77	NTIP	Network 1 Technologies	Pair Corr
0.5	VRRM	Verra Mobility Corp	Pair Corr
0.48	VCSA	Vacasa Inc Trending	Pair Corr
0.45	CLFD	Clearfield	Pair Corr
0.39	MX	MagnaChip Semiconductor Tech Boost	Pair Corr

Related Correlations Analysis

	CLFD	CMTL	KN	EXTR	KVHI	ADTN	MYNA	TSAT	DGII	NTGR
CLFD		0.44	-0.57	-0.52	-0.69	-0.83	-0.37	0.0	-0.73	-0.6	CLFD
CMTL	0.44		-0.31	-0.29	0.13	-0.34	0.23	0.58	-0.3	-0.24	CMTL
KN	-0.57	-0.31		0.86	0.48	0.82	0.46	0.07	0.79	0.64	KN
EXTR	-0.52	-0.29	0.86		0.42	0.77	0.52	0.07	0.7	0.72	EXTR
KVHI	-0.69	0.13	0.48	0.42		0.69	0.45	0.35	0.58	0.58	KVHI
ADTN	-0.83	-0.34	0.82	0.77	0.69		0.55	0.19	0.87	0.84	ADTN
MYNA	-0.37	0.23	0.46	0.52	0.45	0.55		0.57	0.54	0.64	MYNA
TSAT	0.0	0.58	0.07	0.07	0.35	0.19	0.57		0.33	0.32	TSAT
DGII	-0.73	-0.3	0.79	0.7	0.58	0.87	0.54	0.33		0.69	DGII
NTGR	-0.6	-0.24	0.64	0.72	0.58	0.84	0.64	0.32	0.69		NTGR
	CLFD	CMTL	KN	EXTR	KVHI	ADTN	MYNA	TSAT	DGII	NTGR

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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

DGII	+ 0.87	ADTN
EXTR	+ 0.86	KN
NTGR	+ 0.84	ADTN
ADTN	+ 0.82	KN
DGII	+ 0.79	KN
ADTN	+ 0.77	EXTR

High negative correlations

ADTN	- 0.83	CLFD
DGII	- 0.73	CLFD
KVHI	- 0.69	CLFD
NTGR	- 0.6	CLFD
KN	- 0.57	CLFD
EXTR	- 0.52	CLFD

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	2.12	(0.42)	0.00	(0.15)	0.00	0.00	3.15	(4.79)	10.81
CMTL	4.72	0.14	0.03	0.22	6.59	(5.23)	12.63	(8.43)	40.77
KN	1.46	(0.14)	0.00	0.06	1.70	(1.68)	2.56	(3.10)	12.11
EXTR	1.91	(0.10)	0.02	0.08	2.17	(2.13)	3.95	(3.30)	18.17
KVHI	1.71	0.27	0.11	0.63	1.60	(2.16)	4.42	(2.92)	10.42
ADTN	2.31	0.53	0.29	0.45	1.57	(2.86)	6.31	(3.34)	22.03
MYNA	4.54	0.67	0.12	1.59	4.13	(6.09)	14.29	(7.19)	25.89
TSAT	3.87	0.38	0.09	0.50	4.25	(4.51)	9.00	(7.07)	23.01
DGII	1.54	0.01	0.07	0.13	1.61	(1.75)	3.54	(3.10)	12.64
NTGR	2.29	0.55	0.29	0.57	1.53	(2.99)	5.28	(3.74)	34.93

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