Credo Technology Correlations

CRDO Stock

USD 52.60 8.69 14.18%

The current 90-days correlation between Credo Technology and Zebra Technologies is 0.26 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Credo Technology moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Credo Technology Group moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Credo Technology Correlation With Market

Average diversification

The correlation between Credo Technology Group and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Credo Technology Group 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 Credo Technology Group. 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 Credo Stock

0.61	TER	Teradyne Downward Rally	Pair Corr
0.63	KD	Kyndryl Holdings	Pair Corr
0.62	NTGR	NETGEAR	Pair Corr

Moving against Credo Stock

0.59	S	SentinelOne	Pair Corr
0.53	INTC	Intel	Pair Corr
0.38	KE	Kimball Electronics	Pair Corr
0.46	MLNK	Meridianlink	Pair Corr

Related Correlations Analysis

	ZBRA	UI	CIEN	CLFD	VIAV	INFN	AAOI	JNPR	CSCO	NOK
ZBRA		0.4	-0.18	0.21	-0.66	-0.55	0.58	0.34	-0.73	-0.8	ZBRA
UI	0.4		0.41	0.85	0.03	-0.03	-0.27	0.19	0.16	0.06	UI
CIEN	-0.18	0.41		0.57	0.48	-0.06	-0.35	0.38	0.49	0.63	CIEN
CLFD	0.21	0.85	0.57		0.11	-0.06	-0.44	0.43	0.34	0.33	CLFD
VIAV	-0.66	0.03	0.48	0.11		0.54	-0.5	-0.28	0.76	0.75	VIAV
INFN	-0.55	-0.03	-0.06	-0.06	0.54		-0.37	-0.56	0.66	0.43	INFN
AAOI	0.58	-0.27	-0.35	-0.44	-0.5	-0.37		0.12	-0.61	-0.75	AAOI
JNPR	0.34	0.19	0.38	0.43	-0.28	-0.56	0.12		-0.17	-0.02	JNPR
CSCO	-0.73	0.16	0.49	0.34	0.76	0.66	-0.61	-0.17		0.85	CSCO
NOK	-0.8	0.06	0.63	0.33	0.75	0.43	-0.75	-0.02	0.85		NOK
	ZBRA	UI	CIEN	CLFD	VIAV	INFN	AAOI	JNPR	CSCO	NOK

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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

CLFD	+ 0.85	UI
NOK	+ 0.85	CSCO
CSCO	+ 0.76	VIAV
NOK	+ 0.75	VIAV
CSCO	+ 0.66	INFN
NOK	+ 0.63	CIEN

High negative correlations

NOK	- 0.8	ZBRA
NOK	- 0.75	AAOI
CSCO	- 0.73	ZBRA
VIAV	- 0.66	ZBRA
CSCO	- 0.61	AAOI
JNPR	- 0.56	INFN

Risk-Adjusted Indicators

There is a big difference between Credo Stock performing well and Credo Technology 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 Credo Technology'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
ZBRA	1.49	(0.26)	0.00	(0.31)	0.00	0.00	2.95	(3.09)	11.69
UI	2.23	0.03	0.01	0.01	3.49	(2.08)	4.43	(5.16)	17.55
CIEN	2.54	0.36	0.08	0.48	4.25	(2.49)	5.23	(3.66)	36.49
CLFD	2.21	0.27	0.08	0.28	3.01	(2.29)	4.85	(5.93)	13.68
VIAV	1.68	0.25	0.10	(1.87)	2.09	(1.70)	2.41	(3.04)	23.18
INFN	0.23	0.00	0.00	(0.03)	0.27	(0.29)	0.46	(0.45)	1.52
AAOI	5.93	0.12	0.01	0.04	7.44	(6.63)	12.76	(10.47)	41.02
JNPR	0.73	0.05	0.03	(6.64)	1.42	(0.68)	1.63	(1.07)	8.31
CSCO	0.70	0.19	0.15	0.45	1.00	(0.76)	1.63	(1.16)	6.78
NOK	1.26	0.17	0.08	(0.29)	1.97	(1.31)	2.41	(3.00)	7.98

Credo Technology Corporate Management

Chi Cheng	CTO Cofounder	Profile
Daniel ONeil	Vice Relations	Profile
Adam ThorngateGottlund	General Secretary	Profile
Daniel Fleming	Chief Officer	Profile
Scott Feller	Vice Marketing	Profile
James Laufman	Chief Secretary	Profile
Jim Laufman	Chief Secretary	Profile

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