AudioCodes Correlations

AUDC Stock

USD 9.09 0.20 2.25%

The current 90-days correlation between AudioCodes and BK Technologies is 0.07 (i.e., Significant diversification). The correlation of AudioCodes 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.

AudioCodes Correlation With Market

Very weak diversification

The correlation between AudioCodes and DJI is 0.47 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AudioCodes 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 AudioCodes. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in consumer price index.

For information on how to trade AudioCodes Stock refer to our How to Trade AudioCodes Stock guide.

Moving together with AudioCodes Stock

0.61

Home Depot

Pair Corr

Moving against AudioCodes Stock

0.63	PTAIY	Astra International Tbk	Pair Corr
0.62	CSCO	Cisco Systems	Pair Corr
0.62	NHIC	NewHold Investment Corp	Pair Corr
0.62	JBHT	JB Hunt Transport	Pair Corr
0.61	PPERY	Bank Mandiri Persero	Pair Corr
0.6	TLK	Telkom Indonesia Tbk	Pair Corr
0.56	PBCRY	Bank Central Asia	Pair Corr
0.49	AAPL	Apple Inc	Pair Corr
0.42	MTC	MMTEC Inc Tech Boost	Pair Corr
0.4	PPERF	Bank Mandiri Persero	Pair Corr
0.33	BKRKF	PT Bank Rakyat	Pair Corr
0.67	KO	Coca Cola	Pair Corr
0.61	JNJ	Johnson Johnson	Pair Corr
0.6	MMM	3M Company	Pair Corr
0.53	AA	Alcoa Corp	Pair Corr
0.47	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.44	DD	Dupont De Nemours	Pair Corr
0.42	MCD	McDonalds	Pair Corr
0.39	IBM	International Business	Pair Corr
0.36	BAC	Bank of America	Pair Corr
0.34	INTC	Intel	Pair Corr

Related Correlations Analysis

	BKTI	CRNT	INSG	VUZI	FEIM	EGHT	SMRT	AVNW	ALTS	AZ
BKTI		0.54	0.61	0.4	0.33	0.55	-0.17	0.32	0.59	0.5	BKTI
CRNT	0.54		0.88	0.73	0.33	-0.04	-0.6	0.85	0.62	0.59	CRNT
INSG	0.61	0.88		0.86	0.48	-0.06	-0.59	0.69	0.52	0.55	INSG
VUZI	0.4	0.73	0.86		0.6	-0.08	-0.34	0.53	0.35	0.5	VUZI
FEIM	0.33	0.33	0.48	0.6		0.02	0.18	0.26	-0.16	-0.01	FEIM
EGHT	0.55	-0.04	-0.06	-0.08	0.02		0.42	-0.19	0.31	0.34	EGHT
SMRT	-0.17	-0.6	-0.59	-0.34	0.18	0.42		-0.56	-0.47	-0.27	SMRT
AVNW	0.32	0.85	0.69	0.53	0.26	-0.19	-0.56		0.35	0.36	AVNW
ALTS	0.59	0.62	0.52	0.35	-0.16	0.31	-0.47	0.35		0.84	ALTS
AZ	0.5	0.59	0.55	0.5	-0.01	0.34	-0.27	0.36	0.84		AZ
	BKTI	CRNT	INSG	VUZI	FEIM	EGHT	SMRT	AVNW	ALTS	AZ

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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

INSG	+ 0.88	CRNT
VUZI	+ 0.86	INSG
AVNW	+ 0.85	CRNT
AZ	+ 0.84	ALTS
VUZI	+ 0.73	CRNT
AVNW	+ 0.69	INSG

High negative correlations

SMRT	- 0.6	CRNT
SMRT	- 0.59	INSG
AVNW	- 0.56	SMRT
ALTS	- 0.47	SMRT
SMRT	- 0.34	VUZI
AZ	- 0.27	SMRT

Risk-Adjusted Indicators

There is a big difference between AudioCodes Stock performing well and AudioCodes 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 AudioCodes' 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
BKTI	2.63	(0.05)	(0.01)	0.02	3.84	(2.45)	4.89	(6.00)	20.07
CRNT	2.53	(0.22)	0.00	(0.06)	0.00	0.00	5.06	(5.24)	15.79
INSG	3.45	(0.31)	0.00	(0.04)	0.00	0.00	5.28	(6.75)	19.51
VUZI	4.80	0.17	0.05	0.11	5.54	(5.12)	9.68	(8.75)	42.40
FEIM	4.00	0.74	0.20	0.58	3.36	(4.94)	9.62	(5.57)	32.39
EGHT	2.76	0.03	0.03	0.08	3.52	(3.03)	5.70	(6.37)	34.75
SMRT	2.65	0.41	0.18	0.36	2.15	(3.63)	6.43	(4.06)	19.23
AVNW	2.13	(0.15)	0.00	1.95	0.00	0.00	4.98	(4.18)	11.10
ALTS	5.43	(1.68)	0.00	(0.36)	0.00	0.00	9.57	(10.70)	30.44
AZ	3.43	(0.76)	0.00	(0.22)	0.00	0.00	6.78	(7.12)	25.03

AudioCodes Corporate Executives

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

	Niran CPA	CFO Finance	Profile
	Lior Aldema	COO and Head of Global Sales	Profile

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