Avnet Correlations

AVT Stock

USD 55.00 0.19 0.34%

The current 90-days correlation between Avnet Inc and Arrow Electronics is 0.75 (i.e., Poor diversification). The correlation of Avnet 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.

Avnet Correlation With Market

Very weak diversification

The correlation between Avnet Inc 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 Avnet Inc 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 Avnet Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in real.

Moving together with Avnet Stock

0.91	ARW	Arrow Electronics	Pair Corr
0.75	IZM	ICZOOM Group Class	Pair Corr
0.91	SNX	Synnex	Pair Corr
0.81	INGM	Ingram Micro Holding	Pair Corr
0.73	NSIT	Insight Enterprises	Pair Corr
0.7	SCSC	ScanSource	Pair Corr
0.86	DIOD	Diodes Incorporated	Pair Corr
0.67	JG	Aurora Mobile	Pair Corr
0.79	MU	Micron Technology	Pair Corr
0.72	MX	MagnaChip Semiconductor	Pair Corr
0.88	ON	ON Semiconductor	Pair Corr
0.76	VECO	Veeco Instruments	Pair Corr
0.81	VRRM	Verra Mobility Corp	Pair Corr
0.8	ENLV	Enlivex Therapeutics	Pair Corr
0.81	ENTG	Entegris	Pair Corr
0.67	FARO	FARO Technologies	Pair Corr
0.87	ADI	Analog Devices	Pair Corr
0.85	AMD	Advanced Micro Devices Aggressive Push	Pair Corr
0.8	ARM	Arm Holdings plc	Pair Corr
0.92	BDC	Belden Inc	Pair Corr
0.8	FRGE	Forge Global Holdings	Pair Corr
0.86	GFS	Globalfoundries	Pair Corr
0.81	GLW	Corning Incorporated	Pair Corr
0.76	IBM	International Business Earnings Call This Week	Pair Corr

Moving against Avnet Stock

0.83	CIIT	Tianci International,	Pair Corr
0.67	FKWL	Franklin Wireless Corp	Pair Corr
0.53	FRGT	Freight Technologies	Pair Corr
0.5	IMTE	Integrated Media Tec Tech Boost	Pair Corr
0.36	MFH	Mercurity Fintech Holding Upward Rally	Pair Corr

Related Correlations Analysis

	ARW	NSIT	SNX	CLMB	SCSC	APH	BHE	BDC	VSH
ARW		0.51	0.97	0.18	0.89	0.97	0.77	0.95	0.95	ARW
NSIT	0.51		0.57	0.51	0.25	0.37	0.64	0.62	0.5	NSIT
SNX	0.97	0.57		0.2	0.85	0.94	0.81	0.97	0.94	SNX
CLMB	0.18	0.51	0.2		0.21	0.08	0.33	0.21	0.2	CLMB
SCSC	0.89	0.25	0.85	0.21		0.91	0.63	0.81	0.83	SCSC
APH	0.97	0.37	0.94	0.08	0.91		0.75	0.91	0.94	APH
BHE	0.77	0.64	0.81	0.33	0.63	0.75		0.78	0.78	BHE
BDC	0.95	0.62	0.97	0.21	0.81	0.91	0.78		0.93	BDC
VSH	0.95	0.5	0.94	0.2	0.83	0.94	0.78	0.93		VSH
	ARW	NSIT	SNX	CLMB	SCSC	APH	BHE	BDC	VSH

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Risk-Adjusted Indicators

There is a big difference between Avnet Stock performing well and Avnet 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 Avnet's 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
ARW	1.02	0.29	0.30	0.49	0.41	(1.28)	2.49	(1.41)	5.68
NSIT	1.35	(0.08)	(0.05)	0.04	1.67	(1.26)	2.69	(2.54)	6.77
SNX	1.15	0.37	0.35	0.50	0.54	(1.42)	2.73	(1.63)	8.90
CLMB	1.63	(0.14)	0.00	(0.10)	0.00	0.00	3.46	(3.75)	9.16
SCSC	1.30	0.31	0.21	0.53	0.92	(1.53)	3.75	(1.64)	9.57
APH	1.09	0.55	0.58	0.60	0.00	(1.42)	3.39	(1.38)	10.44
BHE	1.44	0.03	0.02	0.16	2.94	(1.55)	3.22	(1.98)	18.09
BDC	1.42	0.28	0.25	0.34	0.94	(1.73)	3.59	(1.95)	8.42
VSH	2.28	0.75	0.21	(2.42)	2.36	(2.71)	6.04	(3.99)	20.03

Avnet Corporate Management

Philip Gallagher	Sr. VP and Member of Executive Board	Profile
Michael McCoy	General VP	Profile
Ken Arnold	Chief VP	Profile
Joseph Burke	Vice Relations	Profile
Rebeca ObregonJimenez	Senior Management	Profile
Darrel Jackson	Corporate Secretary	Profile
David Youngblood	Chief Officer	Profile

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