Verizon Communications Correlations

VZ Stock

USD 43.99 0.24 0.55%

The current 90-days correlation between Verizon Communications and T Mobile is 0.46 (i.e., Very weak diversification). The correlation of Verizon Communications 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.

Verizon Communications Correlation With Market

Average diversification

The correlation between Verizon Communications and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Verizon Communications 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 Verizon Communications. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

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

Moving together with Verizon Stock

0.92	T	ATT Inc Earnings Call Today	Pair Corr
0.78	VOD	Vodafone Group PLC	Pair Corr
0.86	TMUS	T Mobile	Pair Corr
0.76	KT	KT Corporation	Pair Corr
0.89	TU	Telus Corp	Pair Corr
0.72	WB	Weibo Corp	Pair Corr
0.73	YY	YY Inc Class	Pair Corr
0.88	ZH	Zhihu Inc ADR Earnings Call Today	Pair Corr
0.85	EVER	EverQuote Class A	Pair Corr
0.66	BATRA	Atlanta Braves Holdings,	Pair Corr
0.64	BATRK	Atlanta Braves Holdings,	Pair Corr

Moving against Verizon Stock

0.85	ZD	Ziff Davis	Pair Corr
0.8	OB	Outbrain	Pair Corr
0.72	TC	TuanChe ADR	Pair Corr
0.61	DOYU	DouYu International Earnings Call Today	Pair Corr
0.58	LUMN	Lumen Technologies Aggressive Push	Pair Corr
0.31	Z	Zillow Group Class	Pair Corr
0.78	CCO	Clear Channel Outdoor Buyout Trend	Pair Corr
0.77	CNK	Cinemark Holdings	Pair Corr
0.74	CHR	Cheer Holding	Pair Corr
0.66	ADD	Color Star Technology	Pair Corr
0.64	CNM	Core Main	Pair Corr
0.62	ADV	Advantage Solutions Buyout Trend	Pair Corr
0.62	AMC	AMC Entertainment Aggressive Push	Pair Corr
0.6	WIMI	WiMi Hologram Cloud	Pair Corr
0.55	VSME	VS Media Holdings	Pair Corr
0.54	ANGHW	Anghami Warrants	Pair Corr
0.52	FLNT	Fluent Inc Earnings Call This Week	Pair Corr
0.4	DRCT	Direct Digital Holdings Earnings Call Today	Pair Corr

Related Correlations Analysis

	TMUS	LUMN	DISH	CMCSA	T	CHTR	VOD
TMUS		-0.78	0.0	-0.46	0.96	0.41	0.54	TMUS
LUMN	-0.78		0.0	0.68	-0.78	0.01	-0.31	LUMN
DISH	0.0	0.0		0.0	0.0	0.0	0.0	DISH
CMCSA	-0.46	0.68	0.0		-0.41	0.41	-0.11	CMCSA
T	0.96	-0.78	0.0	-0.41		0.45	0.65	T
CHTR	0.41	0.01	0.0	0.41	0.45		0.3	CHTR
VOD	0.54	-0.31	0.0	-0.11	0.65	0.3		VOD
	TMUS	LUMN	DISH	CMCSA	T	CHTR	VOD

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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

T	+ 0.96	TMUS
CMCSA	+ 0.68	LUMN
VOD	+ 0.65	T
VOD	+ 0.54	TMUS
CHTR	+ 0.45	T
CHTR	+ 0.41	TMUS

High negative correlations

T	- 0.78	LUMN
LUMN	- 0.78	TMUS
CMCSA	- 0.46	TMUS
T	- 0.41	CMCSA
VOD	- 0.31	LUMN
VOD	- 0.11	CMCSA

Risk-Adjusted Indicators

There is a big difference between Verizon Stock performing well and Verizon Communications 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 Verizon Communications' 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
TMUS	1.21	0.19	0.14	0.29	1.44	(1.30)	2.43	(3.00)	10.07
LUMN	2.86	(0.25)	0.00	(0.22)	0.00	0.00	5.65	(6.63)	21.70
DISH	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CMCSA	1.23	(0.07)	0.00	(0.18)	0.00	0.00	2.18	(2.44)	13.18
T	1.04	0.26	0.16	0.40	1.61	(1.11)	1.90	(1.75)	11.66
CHTR	1.37	(0.02)	0.00	(0.09)	0.00	0.00	2.58	(3.44)	8.90
VOD	1.06	0.19	0.18	0.86	1.09	(1.31)	2.79	(2.33)	6.88

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