Harmonic Correlations

HLIT Stock

USD 10.39 0.15 1.42%

The current 90-days correlation between Harmonic and NETGEAR is 0.08 (i.e., Significant diversification). The correlation of Harmonic 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.

Harmonic Correlation With Market

Modest diversification

The correlation between Harmonic and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Harmonic and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Harmonic. 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 information on how to buy Harmonic Stock please use our How to Invest in Harmonic guide.

Moving together with Harmonic Stock

0.72	KE	Kimball Electronics	Pair Corr
0.82	KN	Knowles Cor	Pair Corr
0.67	DSWL	Deswell Industries	Pair Corr
0.82	EBON	Ebang International	Pair Corr
0.79	EHGO	Eshallgo Class A	Pair Corr
0.84	EXTR	Extreme Networks	Pair Corr
0.76	FEIM	Frequency Electronics	Pair Corr
0.61	BHE	Benchmark Electronics	Pair Corr
0.67	IDN	Intellicheck Mobilisa Earnings Call Today	Pair Corr
0.88	MOB	Mobilicom Limited	Pair Corr

Moving against Harmonic Stock

0.63	VIAV	Viavi Solutions Sell-off Trend	Pair Corr
0.51	SATLW	Satellogic Warrant	Pair Corr
0.78	FKWL	Franklin Wireless Corp	Pair Corr
0.71	DLB	Dolby Laboratories	Pair Corr
0.69	FFIV	F5 Networks	Pair Corr
0.81	NOK	Nokia Corp ADR Aggressive Push	Pair Corr
0.52	TEL	TE Connectivity	Pair Corr
0.37	OST	Ostin Technology	Pair Corr
0.36	STX	Seagate Technology PLC	Pair Corr
0.33	LPL	LG Display	Pair Corr

Related Correlations Analysis

	NTGR	JNPR	DGII	CLFD	CMTL	DZSI	KVHI	AVNW	COMM	KN
NTGR		0.2	0.54	0.54	0.41	0.0	0.57	0.25	0.07	0.66	NTGR
JNPR	0.2		-0.22	0.43	0.58	0.0	-0.01	-0.4	0.21	0.67	JNPR
DGII	0.54	-0.22		0.18	-0.23	0.0	0.58	0.56	-0.02	-0.02	DGII
CLFD	0.54	0.43	0.18		0.02	0.0	0.7	0.12	0.03	0.63	CLFD
CMTL	0.41	0.58	-0.23	0.02		0.0	-0.22	-0.49	0.04	0.72	CMTL
DZSI	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	DZSI
KVHI	0.57	-0.01	0.58	0.7	-0.22	0.0		0.49	0.01	0.27	KVHI
AVNW	0.25	-0.4	0.56	0.12	-0.49	0.0	0.49		-0.06	-0.34	AVNW
COMM	0.07	0.21	-0.02	0.03	0.04	0.0	0.01	-0.06		-0.03	COMM
KN	0.66	0.67	-0.02	0.63	0.72	0.0	0.27	-0.34	-0.03		KN
	NTGR	JNPR	DGII	CLFD	CMTL	DZSI	KVHI	AVNW	COMM	KN

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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

KN	+ 0.72	CMTL
KVHI	+ 0.7	CLFD
KN	+ 0.67	JNPR
KN	+ 0.66	NTGR
KN	+ 0.63	CLFD
CMTL	+ 0.58	JNPR

High negative correlations

AVNW	- 0.49	CMTL
AVNW	- 0.4	JNPR
KN	- 0.34	AVNW
CMTL	- 0.23	DGII
KVHI	- 0.22	CMTL
DGII	- 0.22	JNPR

Risk-Adjusted Indicators

There is a big difference between Harmonic Stock performing well and Harmonic 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 Harmonic'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
NTGR	2.13	0.03	0.00	(0.06)	0.00	0.00	4.41	(5.11)	12.12
JNPR	0.65	(0.03)	0.00	(0.27)	0.00	0.00	1.21	(2.20)	6.98
DGII	1.93	(0.08)	0.00	(0.17)	0.00	0.00	3.38	(4.09)	21.42
CLFD	2.20	0.12	0.04	0.04	3.03	(2.28)	4.85	(5.93)	13.39
CMTL	6.56	(0.33)	0.00	0.36	0.00	0.00	19.25	(10.43)	65.93
DZSI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
KVHI	1.72	(0.13)	0.00	(1.41)	0.00	0.00	2.92	(4.35)	12.61
AVNW	2.60	0.46	0.15	0.26	2.67	(3.07)	5.33	(4.92)	34.98
COMM	3.35	0.11	0.00	(0.01)	0.00	0.00	6.70	(7.56)	38.42
KN	1.14	(0.24)	0.00	(0.40)	0.00	0.00	1.86	(3.41)	6.22

Harmonic Corporate Management

Dan Gledhill	Senior Development	Profile
Gil Rudge	Senior Products	Profile
Walter Jankovic	Chief Officer	Profile
Ian Graham	Senior Services	Profile
David Hanover	Investor Officer	Profile
Timothy Chu	Senior Counsel	Profile

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