Digi International Correlations

DGII Stock

USD 28.91 0.32 1.09%

The current 90-days correlation between Digi International and Extreme Networks is 0.34 (i.e., Weak diversification). The correlation of Digi International 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.

Digi International Correlation With Market

Weak diversification

The correlation between Digi International 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 Digi International 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 Digi International. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

For more detail on how to invest in Digi Stock please use our How to Invest in Digi International guide.

Moving together with Digi Stock

0.63	FLEX	Flex	Pair Corr
0.61	HPQ	HP Inc	Pair Corr
0.69	LFUS	Littelfuse	Pair Corr
0.63	FTNT	Fortinet	Pair Corr
0.64	PATH	Uipath Inc Earnings Call Tomorrow	Pair Corr
0.68	META	Meta Platforms	Pair Corr
0.63	DD	Dupont De Nemours	Pair Corr
0.72	WMT	Walmart	Pair Corr

Moving against Digi Stock

0.43	PFE	Pfizer Inc	Pair Corr
0.38	TRV	The Travelers Companies	Pair Corr

Related Correlations Analysis

	EXTR	CIEN	HLIT	CMTL	ADTN	MYNA	KVHI	TSAT	NTGR	ITRN
EXTR		0.69	0.86	0.73	-0.24	0.59	0.2	-0.55	0.48	-0.72	EXTR
CIEN	0.69		0.47	0.4	0.35	0.45	0.71	-0.35	0.85	-0.43	CIEN
HLIT	0.86	0.47		0.87	-0.5	0.72	-0.05	-0.63	0.31	-0.81	HLIT
CMTL	0.73	0.4	0.87		-0.46	0.73	-0.15	-0.43	0.38	-0.72	CMTL
ADTN	-0.24	0.35	-0.5	-0.46		-0.5	0.72	0.23	0.39	0.49	ADTN
MYNA	0.59	0.45	0.72	0.73	-0.5		-0.05	-0.37	0.38	-0.64	MYNA
KVHI	0.2	0.71	-0.05	-0.15	0.72	-0.05		-0.2	0.63	0.01	KVHI
TSAT	-0.55	-0.35	-0.63	-0.43	0.23	-0.37	-0.2		-0.1	0.41	TSAT
NTGR	0.48	0.85	0.31	0.38	0.39	0.38	0.63	-0.1		-0.4	NTGR
ITRN	-0.72	-0.43	-0.81	-0.72	0.49	-0.64	0.01	0.41	-0.4		ITRN
	EXTR	CIEN	HLIT	CMTL	ADTN	MYNA	KVHI	TSAT	NTGR	ITRN

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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

CMTL	+ 0.87	HLIT
HLIT	+ 0.86	EXTR
NTGR	+ 0.85	CIEN
CMTL	+ 0.73	EXTR
MYNA	+ 0.73	CMTL
MYNA	+ 0.72	HLIT

High negative correlations

ITRN	- 0.81	HLIT
ITRN	- 0.72	CMTL
ITRN	- 0.72	EXTR
ITRN	- 0.64	MYNA
TSAT	- 0.63	HLIT
TSAT	- 0.55	EXTR

Risk-Adjusted Indicators

There is a big difference between Digi Stock performing well and Digi International 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 Digi International'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
EXTR	1.61	(0.20)	0.00	(0.23)	0.00	0.00	2.67	(3.97)	9.98
CIEN	2.68	(0.29)	0.00	(0.25)	0.00	0.00	4.62	(6.13)	28.00
HLIT	1.72	(0.32)	0.00	(0.59)	0.00	0.00	3.51	(3.39)	18.88
CMTL	6.02	(0.47)	0.00	0.36	0.00	0.00	18.18	(9.39)	65.93
ADTN	2.53	0.28	0.07	0.10	3.27	(2.78)	6.96	(5.98)	19.02
MYNA	12.78	(1.21)	0.00	0.21	0.00	0.00	36.96	(31.58)	167.72
KVHI	1.80	(0.12)	0.00	(1.69)	0.00	0.00	2.92	(4.50)	12.61
TSAT	3.98	0.52	0.13	0.65	3.70	(4.57)	7.63	(5.52)	34.21
NTGR	2.24	(0.02)	0.00	(0.09)	0.00	0.00	4.41	(5.11)	12.12
ITRN	1.90	0.40	0.22	0.57	1.70	(2.44)	4.03	(3.58)	21.39

Digi International Corporate Management

Mandi Karasek	VP HR	Profile
Terrence Schneider	Senior Management	Profile
Brian Ballenger	Interim Treasurer and Acting Principal Financial Officer and Principal Accounting Officer	Profile
Justin Schmid	Senior Solutions	Profile
James Freeland	Senior Officer	Profile
Gary Marks	Senior Opengear	Profile

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