Calix Correlations

CALX Stock

USD 34.35 0.96 2.88%

The current 90-days correlation between Calix Inc and Blackbaud is 0.05 (i.e., Significant diversification). The correlation of Calix 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.

Calix Correlation With Market

Weak diversification

The correlation between Calix Inc and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Calix 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 Calix 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 bureau of economic analysis.

Moving together with Calix Stock

0.7	FFIV	F5 Networks	Pair Corr
0.88	FLEX	Flex	Pair Corr
0.68	BDC	Belden Inc	Pair Corr
0.89	CDW	CDW Corp	Pair Corr
0.93	CLS	Celestica	Pair Corr
0.9	GLW	Corning Incorporated	Pair Corr
0.65	HPE	Hewlett Packard Ente Aggressive Push	Pair Corr
0.92	JBL	Jabil Circuit	Pair Corr

Moving against Calix Stock

0.46

ERIC

Telefonaktiebolaget

Pair Corr

Related Correlations Analysis

	BLKB	ENFN	ETWO	MODN	CVT	CVLT	ENV	MANH	AGYS	AZPN
BLKB		-0.19	0.92	0.0	0.0	0.2	0.0	0.6	0.5	-0.36	BLKB
ENFN	-0.19		-0.3	0.0	0.0	0.39	0.0	-0.53	-0.68	0.54	ENFN
ETWO	0.92	-0.3		0.0	0.0	0.22	0.0	0.56	0.47	-0.33	ETWO
MODN	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	MODN
CVT	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	CVT
CVLT	0.2	0.39	0.22	0.0	0.0		0.0	-0.42	-0.37	0.48	CVLT
ENV	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	ENV
MANH	0.6	-0.53	0.56	0.0	0.0	-0.42	0.0		0.86	-0.83	MANH
AGYS	0.5	-0.68	0.47	0.0	0.0	-0.37	0.0	0.86		-0.78	AGYS
AZPN	-0.36	0.54	-0.33	0.0	0.0	0.48	0.0	-0.83	-0.78		AZPN
	BLKB	ENFN	ETWO	MODN	CVT	CVLT	ENV	MANH	AGYS	AZPN

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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

ETWO	+ 0.92	BLKB
AGYS	+ 0.86	MANH
MANH	+ 0.6	BLKB
MANH	+ 0.56	ETWO
AZPN	+ 0.54	ENFN
AGYS	+ 0.5	BLKB

High negative correlations

AZPN	- 0.83	MANH
AZPN	- 0.78	AGYS
AGYS	- 0.68	ENFN
MANH	- 0.53	ENFN
MANH	- 0.42	CVLT
AGYS	- 0.37	CVLT

Risk-Adjusted Indicators

There is a big difference between Calix Stock performing well and Calix 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 Calix'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
BLKB	1.36	(0.24)	0.00	(0.55)	0.00	0.00	2.40	(3.44)	14.16
ENFN	1.18	0.11	0.10	0.34	1.61	(1.39)	3.38	(2.60)	10.10
ETWO	2.18	(0.15)	0.00	(0.20)	0.00	0.00	5.20	(5.24)	12.57
MODN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CVT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CVLT	1.96	0.01	0.05	(0.11)	3.01	(1.85)	4.24	(4.75)	15.27
ENV	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MANH	2.12	(0.65)	0.00	(0.70)	0.00	0.00	3.09	(3.98)	27.65
AGYS	2.48	(0.84)	0.00	(1.16)	0.00	0.00	3.36	(5.60)	23.52
AZPN	0.46	0.09	0.25	(1.00)	0.58	(0.56)	1.60	(0.84)	6.87

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