Analog Devices Correlations

ADI Stock

USD 227.82 1.45 0.64%

The current 90-days correlation between Analog Devices and NXP Semiconductors NV is 0.83 (i.e., Very poor diversification). The correlation of Analog Devices 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.

Analog Devices Correlation With Market

Very weak diversification

The correlation between Analog Devices and DJI is 0.58 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Analog Devices and DJI in the same portfolio, assuming nothing else is changed.

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Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Analog Devices. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

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

Moving together with Analog Stock

0.93	MU	Micron Technology	Pair Corr
0.87	MX	MagnaChip Semiconductor Earnings Call This Week	Pair Corr
0.91	ON	ON Semiconductor Earnings Call Tomorrow	Pair Corr
0.85	AMD	Advanced Micro Devices Aggressive Push	Pair Corr
0.92	TSM	Taiwan Semiconductor	Pair Corr
0.86	UMC	United Microelectronics Earnings Call This Week	Pair Corr
0.87	INDI	indie Semiconductor	Pair Corr
0.75	INTC	Intel	Pair Corr
0.96	KLAC	KLA Tencor	Pair Corr
0.92	KLIC	Kulicke and Soffa Earnings Call This Week	Pair Corr
0.86	MRAM	Everspin Technologies Earnings Call This Week	Pair Corr
0.89	MRVL	Marvell Technology	Pair Corr
0.95	MTSI	MACOM Technology Sol Earnings Call This Week	Pair Corr
0.91	NVDA	NVIDIA Sell-off Trend	Pair Corr
0.96	QRVO	Qorvo Inc Earnings Call Tomorrow	Pair Corr
0.95	ACLS	Axcelis Technologies	Pair Corr
0.97	AMKR	Amkor Technology Earnings Call Tomorrow	Pair Corr
0.92	AVGO	Broadcom	Pair Corr
0.82	TSEM	Tower Semiconductor	Pair Corr
0.69	DSWL	Deswell Industries	Pair Corr
0.62	VRNT	Verint Systems	Pair Corr
0.92	FFIV	F5 Networks Earnings Call Tomorrow	Pair Corr
0.87	HPE	Hewlett Packard Ente	Pair Corr
0.93	IBM	International Business	Pair Corr
0.93	VSH	Vishay Intertechnology	Pair Corr
0.88	IPGP	IPG Photonics Earnings Call Tomorrow	Pair Corr
0.91	LASR	nLIGHT Inc	Pair Corr
0.93	MSFT	Microsoft Earnings Call This Week	Pair Corr

Moving against Analog Stock

0.84	MPTI	M tron Industries, Tech Boost	Pair Corr
0.53	HUBS	HubSpot Earnings Call This Week	Pair Corr

Related Correlations Analysis

	NXPI	QCOM	AVGO	MCHP	ON	LSCC	QRVO	WOLF	TXN	MPWR
NXPI		0.93	0.9	0.94	0.94	0.67	0.93	-0.53	0.92	0.89	NXPI
QCOM	0.93		0.81	0.88	0.85	0.56	0.84	-0.58	0.84	0.84	QCOM
AVGO	0.9	0.81		0.96	0.93	0.46	0.95	-0.7	0.9	0.87	AVGO
MCHP	0.94	0.88	0.96		0.95	0.53	0.96	-0.71	0.97	0.91	MCHP
ON	0.94	0.85	0.93	0.95		0.57	0.92	-0.64	0.91	0.8	ON
LSCC	0.67	0.56	0.46	0.53	0.57		0.61	0.11	0.52	0.63	LSCC
QRVO	0.93	0.84	0.95	0.96	0.92	0.61		-0.57	0.93	0.94	QRVO
WOLF	-0.53	-0.58	-0.7	-0.71	-0.64	0.11	-0.57		-0.66	-0.5	WOLF
TXN	0.92	0.84	0.9	0.97	0.91	0.52	0.93	-0.66		0.9	TXN
MPWR	0.89	0.84	0.87	0.91	0.8	0.63	0.94	-0.5	0.9		MPWR
	NXPI	QCOM	AVGO	MCHP	ON	LSCC	QRVO	WOLF	TXN	MPWR

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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

TXN	+ 0.97	MCHP
MCHP	+ 0.96	AVGO
QRVO	+ 0.96	MCHP
QRVO	+ 0.95	AVGO
ON	+ 0.95	MCHP
MCHP	+ 0.94	NXPI

High negative correlations

WOLF	- 0.71	MCHP
WOLF	- 0.7	AVGO
TXN	- 0.66	WOLF
WOLF	- 0.64	ON
WOLF	- 0.58	QCOM
WOLF	- 0.57	QRVO

Risk-Adjusted Indicators

There is a big difference between Analog Stock performing well and Analog Devices 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 Analog Devices' 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
NXPI	1.87	0.07	0.10	0.24	1.82	(2.40)	4.49	(2.63)	13.96
QCOM	1.30	(0.02)	0.01	0.18	1.75	(1.39)	3.41	(2.51)	13.73
AVGO	1.61	0.62	0.34	0.80	1.15	(1.94)	4.32	(2.88)	11.43
MCHP	2.26	0.51	0.32	0.48	1.50	(2.82)	6.40	(3.20)	19.27
ON	2.57	0.37	0.19	0.39	2.47	(3.01)	6.14	(3.75)	18.35
LSCC	2.45	(0.11)	0.08	0.16	2.58	(3.00)	5.44	(3.94)	21.11
QRVO	1.55	0.25	0.25	0.35	1.04	(1.87)	3.78	(2.60)	17.45
WOLF	13.71	0.81	0.09	0.39	15.88	(16.73)	33.59	(25.96)	118.79
TXN	1.49	0.13	0.07	0.31	2.31	(1.69)	3.95	(2.17)	22.05
MPWR	1.89	0.09	0.18	0.24	1.47	(2.32)	4.99	(2.76)	17.55

Analog Devices Corporate Management

Stephanie Sidelko	Vice Officer	Profile
Gregory Henderson	Energy, Automotive	Profile
Michael Sondel	Chief Accounting Officer and Principal Accounting Officer	Profile
Patrick ODoherty	Senior Healthcare	Profile

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