Synnex Correlations

Stocks . USA . 
Stock . Synnex
SNX Stock  USD 128.50  1.31  1.03%   
The current 90-days correlation between Synnex and Insight Enterprises is 0.35 (i.e., Weak diversification). The correlation of Synnex 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.

Synnex Correlation With Market

Modest diversification

The correlation between Synnex and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Synnex and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Synnex. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.
For more information on how to buy Synnex Stock please use our How to Invest in Synnex guide.

Moving together with Synnex Stock

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Moving against Synnex Stock

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Related Correlations Analysis

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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   
ARW
+ 0.93
CNXN
ARW
+ 0.92
AVT
CNXN
+ 0.87
SCSC
ARW
+ 0.86
SCSC
SCSC
+ 0.84
AVT
CNXN
+ 0.78
AVT
  
High negative correlations   
CLMB
- 0.0
SNPO
SNPO
- 0.0
ARW
SNPO
- 0.0
CNXN
SNPO
- 0.0
SCSC
SNPO
- 0.0
NSIT
SNPO
- 0.0
AVT

Risk-Adjusted Indicators

There is a big difference between Synnex Stock performing well and Synnex 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 Synnex'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.

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