Analog Devices Correlations

ANL Stock

EUR 296.35 4.35 1.45%

The current 90-days correlation between Analog Devices and Perusahaan Perseroan PT is 0.01 (i.e., Significant 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

Almost no diversification

The correlation between Analog Devices and DJI is 0.9 (i.e., Almost no 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.

The ability to find closely correlated positions to Analog Devices could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Analog Devices when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Analog Devices - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Analog Devices to buy it.

Moving together with Analog Stock

0.77	WNI	WHITE MTNS INS	Pair Corr
0.8	S0V	Seaboard	Pair Corr
0.88	7LB	Lotus Bakeries NV	Pair Corr
0.82	DJDA	DIeteren Group SA	Pair Corr
0.9	6IC	Iridium Communications	Pair Corr
0.88	HZ8	Insteel Industries	Pair Corr
0.87	VVD	Veolia Environnement Earnings Call This Week	Pair Corr
0.65	TWA	TOWA	Pair Corr
0.85	SZL	SOLSTAD OFFSHORE	Pair Corr
0.76	T4W	Toro Energy	Pair Corr
0.83	3YL	SMARTOPTICS GRP AS	Pair Corr
0.81	SKFA	AB SKF	Pair Corr
0.92	01H	HORIBA	Pair Corr
0.65	SJ3	Sherwin Williams	Pair Corr
0.84	LPK	LPKF Laser Electronics	Pair Corr
0.78	ALV	Allianz SE Earnings Call This Week	Pair Corr
0.96	WCE	CECO ENVIRONMENTAL Earnings Call Tomorrow	Pair Corr
0.81	NCO	Nedbank Group Limited Earnings Call Next Week	Pair Corr
0.77	O3I	FLOW TRADERS LTD	Pair Corr
0.91	2G0	Food Life Companies	Pair Corr
0.82	7GA	Gestamp Automoción Earnings Call This Week	Pair Corr
0.82	317A	STINGRAY GROUP INC	Pair Corr
0.8	KGHA	KGHM Polska Miedz	Pair Corr
0.69	FOJ1	Premier Foods PLC	Pair Corr
0.71	CWW	Commonwealth Bank	Pair Corr
0.72	PRHA	Prosegur Compaa de Earnings Call This Week	Pair Corr
0.93	ENR	Siemens Energy AG	Pair Corr
0.9	H3M	Hochschild Mining plc	Pair Corr
0.64	UN0	Uniper SE	Pair Corr

Moving against Analog Stock

0.59	BRH	Berkshire Hathaway Earnings Call This Week	Pair Corr
0.82	DBPD	Xtrackers ShortDAX	Pair Corr
0.49	4AH1	PT Ace Hardware	Pair Corr

Related Correlations Analysis

	PQ9	PQ90	BYRA	SSUN	SSU	SSUN	SSU	BZG2	TCID	PTI
PQ9		0.23	0.18	0.12	0.14	0.13	0.14	-0.01	-0.17	-0.06	PQ9
PQ90	0.23		-0.11	0.32	0.31	0.31	0.3	-0.08	-0.08	-0.11	PQ90
BYRA	0.18	-0.11		0.44	0.45	0.43	0.45	-0.45	-0.18	-0.15	BYRA
SSUN	0.12	0.32	0.44		0.99	1.0	0.99	-0.78	-0.31	-0.43	SSUN
SSU	0.14	0.31	0.45	0.99		0.99	1.0	-0.79	-0.33	-0.44	SSU
SSUN	0.13	0.31	0.43	1.0	0.99		0.99	-0.79	-0.31	-0.44	SSUN
SSU	0.14	0.3	0.45	0.99	1.0	0.99		-0.79	-0.33	-0.43	SSU
BZG2	-0.01	-0.08	-0.45	-0.78	-0.79	-0.79	-0.79		0.32	0.48	BZG2
TCID	-0.17	-0.08	-0.18	-0.31	-0.33	-0.31	-0.33	0.32		0.67	TCID
PTI	-0.06	-0.11	-0.15	-0.43	-0.44	-0.44	-0.43	0.48	0.67		PTI
	PQ9	PQ90	BYRA	SSUN	SSU	SSUN	SSU	BZG2	TCID	PTI

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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

SSUN	+ 1.0	SSUN
SSU	+ 1.0	SSU
SSU	+ 0.99	SSUN
SSU	+ 0.99	SSUN
SSUN	+ 0.99	SSU
SSU	+ 0.99	SSUN

High negative correlations

BZG2	- 0.79	SSU
BZG2	- 0.79	SSUN
BZG2	- 0.79	SSU
BZG2	- 0.78	SSUN
BZG2	- 0.45	BYRA
PTI	- 0.44	SSUN

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
PQ9	4.85	0.51	0.03	(0.26)	5.73	(9.30)	17.39	(14.29)	40.26
PQ90	3.03	0.30	0.04	(2.01)	3.95	(4.01)	11.49	(9.09)	42.92
BYRA	3.70	0.16	0.02	0.26	4.07	(7.41)	11.11	(10.00)	26.67
SSUN	2.61	0.94	0.27	(1.01)	2.32	(2.99)	6.04	(4.93)	14.94
SSU	2.95	1.12	0.36	(1.48)	2.24	(3.73)	7.66	(4.89)	15.03
SSUN	2.52	0.90	0.27	(1.01)	2.20	(2.98)	6.10	(4.11)	13.83
SSU	2.84	1.15	0.37	(1.19)	1.98	(3.80)	6.22	(3.69)	15.50
BZG2	2.91	(0.15)	0.00	2.29	0.00	0.00	7.50	(7.69)	22.82
TCID	4.01	(0.02)	0.01	0.06	5.37	(10.33)	12.50	(15.00)	35.42
PTI	1.49	(0.04)	(0.03)	(0.02)	2.44	(1.64)	3.47	(2.73)	16.77

Be your own money manager

Our tools can tell you how much better you can do entering a position in Analog Devices without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Analog Devices Corporate Management

Elected by the shareholders, the Analog Devices' board of directors comprises two types of representatives: Analog Devices inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Analog. The board's role is to monitor Analog Devices' management team and ensure that shareholders' interests are well served. Analog Devices' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Analog Devices' outside directors are responsible for providing unbiased perspectives on the board's policies.

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