Credo Technology Correlations

CRDO Stock

USD 50.53 4.19 9.04%

The current 90-days correlation between Credo Technology and Zebra Technologies is 0.43 (i.e., Very weak 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

Modest diversification

The correlation between Credo Technology Group and DJI is 0.22 (i.e., Modest 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	VLN	Valens	Pair Corr
0.83	S	SentinelOne	Pair Corr
0.67	VRNS	Varonis Systems	Pair Corr
0.76	VRNT	Verint Systems Earnings Call Today	Pair Corr
0.72	EXTR	Extreme Networks	Pair Corr
0.88	FLEX	Flex	Pair Corr
0.79	CRM	Salesforce	Pair Corr
0.89	HPE	Hewlett Packard Ente Aggressive Push	Pair Corr
0.76	HPQ	HP Inc	Pair Corr
0.81	MSI	Motorola Solutions	Pair Corr
0.75	TDC	Teradata Corp	Pair Corr
0.74	WBX	Wallbox NV	Pair Corr
0.82	ZBRA	Zebra Technologies	Pair Corr
0.72	LFUS	Littelfuse	Pair Corr
0.94	LITE	Lumentum Holdings Buyout Trend	Pair Corr
0.75	AVPTW	AvePoint Tech Boost	Pair Corr
0.84	NTGR	NETGEAR	Pair Corr
0.75	PATH	Uipath Inc	Pair Corr
0.88	AIRG	Airgain	Pair Corr

Moving against Credo Stock

0.7	VRSN	VeriSign	Pair Corr
0.68	MQ	Marqeta	Pair Corr
0.41	JG	Aurora Mobile	Pair Corr
0.69	NOK	Nokia Corp ADR	Pair Corr
0.55	MLGO	MicroAlgo Trending	Pair Corr
0.77	BRK-A	Berkshire Hathaway	Pair Corr
0.51	WM	Waste Management	Pair Corr

Related Correlations Analysis

	ZBRA	UI	CIEN	CLFD	VIAV	INFN	AAOI	JNPR	CSCO	NOK
ZBRA		0.76	0.78	0.7	-0.39	-0.65	0.82	0.58	-0.52	-0.91	ZBRA
UI	0.76		0.66	0.92	0.0	-0.69	0.4	0.32	-0.09	-0.54	UI
CIEN	0.78	0.66		0.63	0.1	-0.62	0.75	0.34	-0.01	-0.69	CIEN
CLFD	0.7	0.92	0.63		-0.05	-0.7	0.36	0.42	-0.01	-0.48	CLFD
VIAV	-0.39	0.0	0.1	-0.05		0.02	-0.31	-0.61	0.66	0.52	VIAV
INFN	-0.65	-0.69	-0.62	-0.7	0.02		-0.36	-0.25	0.03	0.54	INFN
AAOI	0.82	0.4	0.75	0.36	-0.31	-0.36		0.54	-0.51	-0.81	AAOI
JNPR	0.58	0.32	0.34	0.42	-0.61	-0.25	0.54		-0.45	-0.54	JNPR
CSCO	-0.52	-0.09	-0.01	-0.01	0.66	0.03	-0.51	-0.45		0.57	CSCO
NOK	-0.91	-0.54	-0.69	-0.48	0.52	0.54	-0.81	-0.54	0.57		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	+ 0.92	UI
AAOI	+ 0.82	ZBRA
CIEN	+ 0.78	ZBRA
UI	+ 0.76	ZBRA
AAOI	+ 0.75	CIEN
CLFD	+ 0.7	ZBRA

High negative correlations

NOK	- 0.91	ZBRA
NOK	- 0.81	AAOI
INFN	- 0.7	CLFD
NOK	- 0.69	CIEN
INFN	- 0.69	UI
INFN	- 0.65	ZBRA

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	1.67	(0.41)	0.00	(0.37)	0.00	0.00	2.95	(3.19)	11.69
UI	2.42	0.04	0.00	(0.01)	0.00	0.00	5.01	(5.89)	17.55
CIEN	2.74	(0.27)	0.00	(0.19)	0.00	0.00	4.93	(6.13)	28.00
CLFD	2.15	0.06	0.02	0.02	3.08	(2.18)	4.73	(5.49)	13.39
VIAV	1.65	0.15	0.06	0.14	2.36	(1.59)	2.29	(3.52)	24.77
INFN	0.23	0.00	0.10	0.19	0.26	(0.29)	0.46	(0.45)	1.52
AAOI	6.36	(0.19)	0.00	(0.09)	0.00	0.00	12.20	(13.99)	44.43
JNPR	0.63	(0.05)	0.00	(0.55)	0.00	0.00	0.95	(1.07)	6.98
CSCO	0.85	0.10	0.08	0.12	1.29	(0.84)	1.61	(1.69)	6.60
NOK	1.28	0.31	0.19	0.41	1.33	(1.49)	2.83	(2.59)	8.49

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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