Clearfield Correlations

CLFD Stock

USD 29.98 0.92 2.98%

The current 90-days correlation between Clearfield and KVH Industries is 0.06 (i.e., Significant diversification). The correlation of Clearfield 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.

Clearfield Correlation With Market

Very weak diversification

The correlation between Clearfield and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Clearfield 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 Clearfield. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in census.

For information on how to trade Clearfield Stock refer to our How to Trade Clearfield Stock guide.

Moving together with Clearfield Stock

0.74	ARW	Arrow Electronics	Pair Corr
0.74	TER	Teradyne	Pair Corr
0.87	MCHP	Microchip Technology	Pair Corr
0.62	BKRKF	PT Bank Rakyat	Pair Corr
0.63	PBCRF	PT Bank Central	Pair Corr
0.91	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.79	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr

Moving against Clearfield Stock

0.66	PBMRF	PT Bumi Resources	Pair Corr
0.65	KVHI	KVH Industries	Pair Corr
0.63	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.6	KSCP	Knightscope	Pair Corr
0.58	AEIS	Advanced Energy Indu	Pair Corr
0.56	NTGR	NETGEAR	Pair Corr
0.53	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.51	CMWCF	Cromwell Property	Pair Corr
0.82	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.71	WMT	Walmart Aggressive Push	Pair Corr
0.65	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.58	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.55	T	ATT Inc Aggressive Push	Pair Corr
0.55	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.45	XOM	Exxon Mobil Corp Sell-off Trend	Pair Corr
0.39	HD	Home Depot Sell-off Trend	Pair Corr
0.32	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr

Related Correlations Analysis

	KVHI	MRK	PHVS	EAT	AA	EURL	COLL	OWL	AMMX	FQIFX
KVHI		-0.51	0.09	0.59	0.63	-0.54	-0.44	0.58	-0.22	0.24	KVHI
MRK	-0.51		-0.58	-0.95	-0.84	0.9	0.84	-0.86	-0.13	0.06	MRK
PHVS	0.09	-0.58		0.62	0.53	-0.56	-0.52	0.61	-0.23	-0.19	PHVS
EAT	0.59	-0.95	0.62		0.87	-0.92	-0.87	0.87	0.0	-0.01	EAT
AA	0.63	-0.84	0.53	0.87		-0.66	-0.58	0.94	-0.05	0.34	AA
EURL	-0.54	0.9	-0.56	-0.92	-0.66		0.91	-0.72	-0.07	0.23	EURL
COLL	-0.44	0.84	-0.52	-0.87	-0.58	0.91		-0.61	-0.11	0.32	COLL
OWL	0.58	-0.86	0.61	0.87	0.94	-0.72	-0.61		0.02	0.28	OWL
AMMX	-0.22	-0.13	-0.23	0.0	-0.05	-0.07	-0.11	0.02		-0.02	AMMX
FQIFX	0.24	0.06	-0.19	-0.01	0.34	0.23	0.32	0.28	-0.02		FQIFX
	KVHI	MRK	PHVS	EAT	AA	EURL	COLL	OWL	AMMX	FQIFX

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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

OWL	+ 0.94	AA
COLL	+ 0.91	EURL
EURL	+ 0.9	MRK
AA	+ 0.87	EAT
OWL	+ 0.87	EAT
COLL	+ 0.84	MRK

High negative correlations

EAT	- 0.95	MRK
EURL	- 0.92	EAT
COLL	- 0.87	EAT
OWL	- 0.86	MRK
AA	- 0.84	MRK
OWL	- 0.72	EURL

Risk-Adjusted Indicators

There is a big difference between Clearfield Stock performing well and Clearfield 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 Clearfield'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
KVHI	1.74	0.21	0.08	0.51	1.63	(2.20)	4.42	(2.92)	10.42
MRK	0.89	(0.23)	0.00	(0.76)	0.00	0.00	2.00	(2.13)	4.89
PHVS	2.94	0.25	0.09	0.29	2.99	(3.63)	7.76	(6.02)	21.41
EAT	1.87	0.79	0.46	0.75	1.25	(2.44)	5.04	(2.48)	11.91
AA	2.45	0.29	0.14	0.27	2.61	(2.76)	6.10	(5.76)	14.99
EURL	2.00	(0.56)	0.00	(0.38)	0.00	0.00	2.74	(5.13)	12.68
COLL	1.88	(0.41)	0.00	(0.22)	0.00	0.00	3.23	(4.47)	12.29
OWL	1.62	0.30	0.21	0.28	1.57	(1.86)	3.66	(2.80)	12.59
AMMX	3.48	(0.41)	0.00	0.41	0.00	0.00	5.71	(7.14)	58.33
FQIFX	0.31	0.00	(0.26)	0.24	0.38	(0.33)	0.67	(0.77)	1.81

Clearfield Corporate Management

Kevin Morgan	Chief Marketing Officer	Profile
Allen Griser	Chief Officer	Profile
Bob Cody	Vice Management	Profile
Frank Brixius	General Secretary	Profile
Skip Hansen	Chief Officer	Profile
Daniel Herzog	Chief Officer	Profile
John Hill	Chief Officer	Profile

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