Daktronics Correlations

DAKT Stock

USD 12.79 0.20 1.59%

The current 90-days correlation between Daktronics and OSI Systems is 0.34 (i.e., Weak diversification). The correlation of Daktronics 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.

Daktronics Correlation With Market

Average diversification

The correlation between Daktronics and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Daktronics and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Daktronics. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in industry.

For more information on how to buy Daktronics Stock please use our How to Invest in Daktronics guide.

Moving together with Daktronics Stock

0.79	KE	Kimball Electronics	Pair Corr
0.86	KN	Knowles Cor	Pair Corr
0.62	DSWL	Deswell Industries	Pair Corr
0.82	EBON	Ebang International	Pair Corr
0.64	EVLV	Evolv Technologies Potential Growth	Pair Corr
0.8	EXTR	Extreme Networks	Pair Corr
0.66	FEIM	Frequency Electronics	Pair Corr
0.67	FLEX	Flex	Pair Corr
0.87	APH	Amphenol	Pair Corr
0.91	BDC	Belden Inc	Pair Corr
0.8	BHE	Benchmark Electronics	Pair Corr
0.85	CTS	CTS Corporation	Pair Corr
0.89	HPE	Hewlett Packard Ente Aggressive Push	Pair Corr
0.84	HPQ	HP Inc	Pair Corr
0.88	IDN	Intellicheck Mobilisa Tech Boost	Pair Corr
0.93	MEI	Methode Electronics	Pair Corr
0.82	MSI	Motorola Solutions	Pair Corr

Moving against Daktronics Stock

0.62	FKWL	Franklin Wireless Corp	Pair Corr
0.32	DLB	Dolby Laboratories	Pair Corr
0.84	NOK	Nokia Corp ADR Aggressive Push	Pair Corr

Related Correlations Analysis

	PLXS	OSIS	CTS	BHE	LYTS	BELFB	BELFA	MEI	SANM	RELL
PLXS		-0.54	0.93	0.98	0.37	0.39	0.82	0.83	0.03	0.67	PLXS
OSIS	-0.54		-0.43	-0.51	0.38	0.26	-0.28	-0.13	0.68	-0.24	OSIS
CTS	0.93	-0.43		0.93	0.49	0.5	0.91	0.83	-0.04	0.75	CTS
BHE	0.98	-0.51	0.93		0.43	0.35	0.8	0.8	0.02	0.67	BHE
LYTS	0.37	0.38	0.49	0.43		0.4	0.39	0.64	0.63	0.3	LYTS
BELFB	0.39	0.26	0.5	0.35	0.4		0.72	0.62	0.3	0.58	BELFB
BELFA	0.82	-0.28	0.91	0.8	0.39	0.72		0.8	-0.03	0.8	BELFA
MEI	0.83	-0.13	0.83	0.8	0.64	0.62	0.8		0.31	0.66	MEI
SANM	0.03	0.68	-0.04	0.02	0.63	0.3	-0.03	0.31		-0.08	SANM
RELL	0.67	-0.24	0.75	0.67	0.3	0.58	0.8	0.66	-0.08		RELL
	PLXS	OSIS	CTS	BHE	LYTS	BELFB	BELFA	MEI	SANM	RELL

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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

BHE	+ 0.98	PLXS
CTS	+ 0.93	PLXS
BHE	+ 0.93	CTS
BELFA	+ 0.91	CTS
MEI	+ 0.83	PLXS
MEI	+ 0.83	CTS

High negative correlations

OSIS	- 0.54	PLXS
BHE	- 0.51	OSIS
CTS	- 0.43	OSIS
BELFA	- 0.28	OSIS
RELL	- 0.24	OSIS
MEI	- 0.13	OSIS

Risk-Adjusted Indicators

There is a big difference between Daktronics Stock performing well and Daktronics 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 Daktronics' 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
PLXS	1.30	(0.37)	0.00	(0.64)	0.00	0.00	1.77	(3.00)	12.43
OSIS	1.89	0.22	0.07	0.08	2.46	(1.89)	3.53	(4.10)	19.95
CTS	1.26	(0.32)	0.00	(0.42)	0.00	0.00	2.05	(3.56)	6.79
BHE	1.43	(0.17)	0.00	(0.30)	0.00	0.00	2.51	(3.52)	10.57
LYTS	1.98	0.01	0.00	(0.09)	0.00	0.00	3.38	(4.37)	35.65
BELFB	1.56	(0.13)	0.00	(0.35)	0.00	0.00	2.79	(3.23)	12.43
BELFA	1.87	(0.40)	0.00	(1.11)	0.00	0.00	3.53	(4.33)	13.15
MEI	3.11	(0.69)	0.00	(0.38)	0.00	0.00	4.91	(6.72)	38.95
SANM	1.42	0.06	0.00	(0.05)	0.00	0.00	3.14	(3.21)	13.03
RELL	1.64	(0.17)	0.00	(0.79)	0.00	0.00	3.79	(3.55)	17.14

Daktronics Corporate Executives

Elected by the shareholders, the Daktronics' board of directors comprises two types of representatives: Daktronics inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Daktronics. The board's role is to monitor Daktronics' management team and ensure that shareholders' interests are well served. Daktronics' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Daktronics' outside directors are responsible for providing unbiased perspectives on the board's policies.

Sheila CPA	Treasurer CFO	Profile
Howard Atkins	Chief CFO	Profile
Sheila Anderson	CFO and Treasurer	Profile

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