InterDigital Correlations

IDCC Stock

USD 219.14 1.71 0.77%

The current 90-days correlation between InterDigital and KT Corporation is 0.04 (i.e., Significant diversification). The correlation of InterDigital 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.

InterDigital Correlation With Market

Modest diversification

The correlation between InterDigital and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding InterDigital 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 InterDigital. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

For information on how to trade InterDigital Stock refer to our How to Trade InterDigital Stock guide.

Moving together with InterDigital Stock

0.69	IBM	International Business	Pair Corr
0.77	GROV	Virgin Group Acquisition	Pair Corr
0.64	INTC	Intel	Pair Corr
0.65	AVAL	Grupo Aval	Pair Corr
0.63	WF	Woori Financial Group	Pair Corr
0.73	BCH	Banco De Chile	Pair Corr
0.7	AXSM	Axsome Therapeutics	Pair Corr
0.85	TCTZF	Tencent Holdings Downward Rally	Pair Corr
0.62	NVRO	Nevro Corp	Pair Corr
0.81	CBYDF	Corby Spirit	Pair Corr
0.69	CDUAF	Canadian Utilities	Pair Corr
0.63	DNCVF	Defiance Silver Corp	Pair Corr

Moving against InterDigital Stock

0.84	KB	KB Financial Group	Pair Corr
0.67	SHG	Shinhan Financial	Pair Corr
0.31	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	KT	CABO	OOMA	LBRDA	ATNI	CNSL	CCOI	GSAT	ORAN	CHTR
KT		-0.81	-0.12	0.61	0.6	0.0	-0.17	-0.79	0.0	0.22	KT
CABO	-0.81		0.15	-0.48	-0.55	0.0	0.07	0.92	0.0	-0.01	CABO
OOMA	-0.12	0.15		0.06	-0.27	0.0	0.81	-0.02	0.0	0.26	OOMA
LBRDA	0.61	-0.48	0.06		0.61	0.0	-0.15	-0.48	0.0	0.85	LBRDA
ATNI	0.6	-0.55	-0.27	0.61		0.0	-0.28	-0.48	0.0	0.29	ATNI
CNSL	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	CNSL
CCOI	-0.17	0.07	0.81	-0.15	-0.28	0.0		-0.05	0.0	-0.04	CCOI
GSAT	-0.79	0.92	-0.02	-0.48	-0.48	0.0	-0.05		0.0	-0.07	GSAT
ORAN	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	ORAN
CHTR	0.22	-0.01	0.26	0.85	0.29	0.0	-0.04	-0.07	0.0		CHTR
	KT	CABO	OOMA	LBRDA	ATNI	CNSL	CCOI	GSAT	ORAN	CHTR

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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

GSAT	+ 0.92	CABO
CHTR	+ 0.85	LBRDA
CCOI	+ 0.81	OOMA
LBRDA	+ 0.61	KT
ATNI	+ 0.61	LBRDA
ATNI	+ 0.6	KT

High negative correlations

CABO	- 0.81	KT
GSAT	- 0.79	KT
ATNI	- 0.55	CABO
GSAT	- 0.48	ATNI
GSAT	- 0.48	LBRDA
LBRDA	- 0.48	CABO

Risk-Adjusted Indicators

There is a big difference between InterDigital Stock performing well and InterDigital 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 InterDigital'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
KT	1.02	0.28	0.27	0.37	0.84	(1.12)	2.04	(1.56)	6.92
CABO	2.34	(0.56)	0.00	(2.35)	0.00	0.00	4.12	(6.18)	22.18
OOMA	1.48	(0.10)	0.00	(0.18)	0.00	0.00	3.31	(3.37)	7.54
LBRDA	1.39	0.07	0.04	0.02	1.98	(1.37)	2.80	(3.12)	9.58
ATNI	2.18	0.41	0.19	0.48	2.12	(2.77)	4.87	(3.76)	10.86
CNSL	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CCOI	1.37	(0.03)	0.00	(0.11)	0.00	0.00	2.49	(2.74)	13.48
GSAT	3.65	(0.42)	0.00	(0.34)	0.00	0.00	4.95	(8.08)	25.92
ORAN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CHTR	1.39	(0.05)	0.00	(0.16)	0.00	0.00	2.58	(3.44)	8.95

InterDigital Corporate Management

James Nolan	Executive VP of Interdigital Solutions	Profile
Eeva Hakoranta	Executive Officer	Profile
Joshua Schmidt	Chief VP	Profile
Eric Cohen	Chief Development Officer	Profile
Ken Kaskoun	Executive Officer	Profile

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