Analog Devices Correlations

ADI Stock

USD 233.34 5.68 2.49%

The current 90-days correlation between Analog Devices and NXP Semiconductors NV is 0.94 (i.e., Almost no 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 poor diversification

The correlation between Analog Devices and DJI is 0.86 (i.e., Very poor 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.

Build AI portfolio with Analog Stock

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

0.85	MU	Micron Technology Aggressive Push	Pair Corr
0.86	PI	Impinj Inc	Pair Corr
0.87	TSM	Taiwan Semiconductor Aggressive Push	Pair Corr
0.72	MRVL	Marvell Technology Aggressive Push	Pair Corr
0.77	AVGO	Broadcom	Pair Corr
0.72	U	Unity Software	Pair Corr
0.76	AI	C3 Ai Inc	Pair Corr
0.8	ZM	Zoom Video Communications	Pair Corr
0.67	VRNS	Varonis Systems	Pair Corr
0.79	WDAY	Workday Earnings Call This Week	Pair Corr
0.92	EXTR	Extreme Networks	Pair Corr
0.76	CRM	Salesforce	Pair Corr
0.63	HPQ	HP Inc	Pair Corr
0.81	IBM	International Business	Pair Corr
0.71	NOW	ServiceNow	Pair Corr
0.75	PGY	Pagaya Technologies	Pair Corr
0.85	RNG	Ringcentral	Pair Corr
0.84	TTD	Trade Desk	Pair Corr
0.76	HUBS	HubSpot	Pair Corr
0.65	INTU	Intuit Inc Sell-off Trend	Pair Corr
0.82	IPGP	IPG Photonics	Pair Corr
0.71	ONTF	ON24 Inc	Pair Corr
0.81	QLYS	Qualys Inc	Pair Corr
0.84	SHOP	Shopify Class A	Pair Corr
0.74	SNOW	Snowflake	Pair Corr
0.65	BOSC	BOS Better Online	Pair Corr
0.78	FORTY	Formula Systems 1985	Pair Corr
0.84	CSCO	Cisco Systems	Pair Corr
0.64	NSFDF	NXT Energy Solutions	Pair Corr
0.77	FCO	Aberdeen Global IF	Pair Corr

Moving against Analog Stock

0.44	ZTLLF	Zonetail	Pair Corr
0.35	GLABF	Gemina Laboratories	Pair Corr

Related Correlations Analysis

	NXPI	QCOM	AVGO	MCHP	ON	LSCC	QRVO	WOLF	TXN	MPWR
NXPI		0.91	0.6	0.88	0.91	0.75	0.88	0.37	0.9	0.79	NXPI
QCOM	0.91		0.35	0.69	0.79	0.85	0.75	0.49	0.8	0.58	QCOM
AVGO	0.6	0.35		0.86	0.74	0.04	0.77	-0.33	0.72	0.87	AVGO
MCHP	0.88	0.69	0.86		0.94	0.41	0.94	-0.05	0.95	0.92	MCHP
ON	0.91	0.79	0.74	0.94		0.56	0.9	0.12	0.93	0.82	ON
LSCC	0.75	0.85	0.04	0.41	0.56		0.53	0.83	0.55	0.33	LSCC
QRVO	0.88	0.75	0.77	0.94	0.9	0.53		0.1	0.94	0.92	QRVO
WOLF	0.37	0.49	-0.33	-0.05	0.12	0.83	0.1		0.08	-0.07	WOLF
TXN	0.9	0.8	0.72	0.95	0.93	0.55	0.94	0.08		0.84	TXN
MPWR	0.79	0.58	0.87	0.92	0.82	0.33	0.92	-0.07	0.84		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	+ 0.95	MCHP
ON	+ 0.94	MCHP
QRVO	+ 0.94	MCHP
TXN	+ 0.94	QRVO
TXN	+ 0.93	ON
MPWR	+ 0.92	MCHP

High negative correlations

WOLF	- 0.33	AVGO
MPWR	- 0.07	WOLF
WOLF	- 0.05	MCHP

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	2.77	0.05	0.01	0.03	3.93	(2.84)	5.56	(6.44)	32.00
QCOM	1.99	0.02	0.01	0.02	3.31	(2.03)	4.13	(6.40)	24.10
AVGO	2.67	0.54	0.15	173.68	2.98	(2.87)	6.35	(5.01)	25.60
MCHP	3.49	0.38	0.07	0.14	4.90	(3.78)	10.16	(10.57)	40.64
ON	3.21	0.35	0.08	0.16	4.15	(3.39)	8.88	(8.35)	33.71
LSCC	3.38	(0.22)	0.00	(0.08)	0.00	0.00	5.96	(9.17)	32.01
QRVO	2.74	0.21	0.05	0.10	4.26	(2.73)	6.01	(7.76)	33.49
WOLF	9.24	(0.79)	0.00	(0.26)	0.00	0.00	22.18	(15.98)	85.41
TXN	2.26	0.14	0.04	0.09	3.13	(2.29)	4.00	(5.75)	23.70
MPWR	3.19	0.42	0.09	0.17	4.36	(3.26)	8.15	(5.14)	37.16

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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