Calix Correlations

CALX Stock

USD 37.02 0.11 0.30%

The current 90-days correlation between Calix Inc and Blackbaud is 0.12 (i.e., Average 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 0.33 (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

0.71	CSCO	Cisco Systems	Pair Corr
0.67	IBM	International Business Sell-off Trend	Pair Corr
0.7	WMT	Walmart Aggressive Push	Pair Corr
0.8	MMM	3M Company	Pair Corr

Moving against Calix Stock

0.75	MRK	Merck Company Aggressive Push	Pair Corr
0.54	MSFT	Microsoft	Pair Corr
0.45	AA	Alcoa Corp	Pair Corr
0.43	PKX	POSCO Holdings	Pair Corr
0.43	DIS	Walt Disney	Pair Corr
0.32	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	BLKB	ENFN	ETWO	MODN	CVT	CVLT	ENV	MANH	AGYS	AZPN
BLKB		-0.04	0.38	0.0	0.0	0.03	0.0	0.28	0.14	-0.06	BLKB
ENFN	-0.04		-0.61	0.0	0.0	0.23	0.0	-0.69	-0.81	0.77	ENFN
ETWO	0.38	-0.61		0.0	0.0	0.23	0.0	0.56	0.52	-0.4	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	0.03	0.23	0.23	0.0	0.0		0.0	-0.4	-0.37	0.43	CVLT
ENV	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	ENV
MANH	0.28	-0.69	0.56	0.0	0.0	-0.4	0.0		0.87	-0.88	MANH
AGYS	0.14	-0.81	0.52	0.0	0.0	-0.37	0.0	0.87		-0.93	AGYS
AZPN	-0.06	0.77	-0.4	0.0	0.0	0.43	0.0	-0.88	-0.93		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

AGYS	+ 0.87	MANH
AZPN	+ 0.77	ENFN
MANH	+ 0.56	ETWO
AGYS	+ 0.52	ETWO
AZPN	+ 0.43	CVLT
ETWO	+ 0.38	BLKB

High negative correlations

AZPN	- 0.93	AGYS
AZPN	- 0.88	MANH
AGYS	- 0.81	ENFN
MANH	- 0.69	ENFN
ETWO	- 0.61	ENFN
MANH	- 0.4	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	1.35	(0.36)	0.00	(0.67)	0.00	0.00	2.40	(2.96)	14.16
ENFN	1.35	0.21	0.13	1.46	1.63	(1.70)	3.38	(2.90)	10.10
ETWO	1.99	(0.40)	0.00	1.51	0.00	0.00	3.62	(4.26)	14.26
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	1.75	0.05	0.02	0.02	2.69	(1.72)	3.10	(4.65)	15.27
ENV	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MANH	2.05	(0.56)	0.00	(0.58)	0.00	0.00	3.13	(3.98)	28.23
AGYS	2.49	(0.66)	0.00	(1.19)	0.00	0.00	3.48	(5.60)	24.77
AZPN	0.56	0.11	0.16	1.38	0.61	(0.66)	1.30	(0.87)	6.87

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