Daktronics Correlations

DAKT Stock

USD 15.92 0.39 2.39%

The current 90-days correlation between Daktronics and OSI Systems is 0.27 (i.e., Modest diversification). The correlation of Daktronics 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.

Daktronics Correlation With Market

Weak diversification

The correlation between Daktronics and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Daktronics and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Daktronics Stock

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

For more information on how to buy Daktronics Stock please use our How to Invest in Daktronics guide.

Moving together with Daktronics Stock

0.8	CDW	CDW Corp	Pair Corr
0.72	LPL	LG Display Earnings Call This Week	Pair Corr
0.85	VSH	Vishay Intertechnology	Pair Corr
0.76	LASR	nLIGHT Inc	Pair Corr
0.83	LITE	Lumentum Holdings	Pair Corr
0.75	NTGR	NETGEAR	Pair Corr
0.8	RGTIW	Rigetti Computing Trending	Pair Corr
0.74	QBTS	D Wave Quantum Aggressive Push	Pair Corr
0.74	QUBT	Quantum Computing Aggressive Push	Pair Corr
0.73	RDWR	Radware	Pair Corr
0.82	RGTI	Rigetti Computing Trending	Pair Corr
0.87	AAOI	Applied Opt	Pair Corr
0.82	ADTN	ADTRAN Inc	Pair Corr
0.81	AVNW	Aviat Networks	Pair Corr
0.84	CIEN	Ciena Corp	Pair Corr
0.81	CRNT	Ceragon Networks	Pair Corr
0.85	CSCO	Cisco Systems	Pair Corr
0.74	MU	Micron Technology	Pair Corr
0.81	MX	MagnaChip Semiconductor	Pair Corr
0.75	ON	ON Semiconductor	Pair Corr
0.84	VRRM	Verra Mobility Corp	Pair Corr
0.68	ENLV	Enlivex Therapeutics	Pair Corr
0.86	ADI	Analog Devices	Pair Corr
0.81	AMD	Advanced Micro Devices Aggressive Push	Pair Corr
0.8	ARM	Arm Holdings plc	Pair Corr
0.72	FRGE	Forge Global Holdings	Pair Corr
0.86	GFS	Globalfoundries	Pair Corr

Moving against Daktronics Stock

0.44	IMTE	Integrated Media Tec Tech Boost	Pair Corr
0.51	FRGT	Freight Technologies	Pair Corr

Related Correlations Analysis

	PLXS	OSIS	CTS	BHE	LYTS	BELFB	BELFA	MEI	SANM	RELL
PLXS		0.66	0.93	0.82	0.82	0.8	0.75	0.75	0.86	0.93	PLXS
OSIS	0.66		0.74	0.3	0.42	0.36	0.3	0.72	0.4	0.62	OSIS
CTS	0.93	0.74		0.75	0.69	0.7	0.66	0.82	0.73	0.88	CTS
BHE	0.82	0.3	0.75		0.76	0.85	0.84	0.58	0.87	0.8	BHE
LYTS	0.82	0.42	0.69	0.76		0.89	0.87	0.54	0.88	0.84	LYTS
BELFB	0.8	0.36	0.7	0.85	0.89		0.99	0.62	0.95	0.83	BELFB
BELFA	0.75	0.3	0.66	0.84	0.87	0.99		0.59	0.93	0.8	BELFA
MEI	0.75	0.72	0.82	0.58	0.54	0.62	0.59		0.6	0.67	MEI
SANM	0.86	0.4	0.73	0.87	0.88	0.95	0.93	0.6		0.89	SANM
RELL	0.93	0.62	0.88	0.8	0.84	0.83	0.8	0.67	0.89		RELL
	PLXS	OSIS	CTS	BHE	LYTS	BELFB	BELFA	MEI	SANM	RELL

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Risk-Adjusted Indicators

There is a big difference between Daktronics Stock performing well and Daktronics 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 Daktronics' 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
PLXS	1.11	0.04	0.02	0.18	1.09	(1.27)	2.47	(2.10)	6.55
OSIS	1.55	0.02	0.01	0.15	2.30	(1.47)	3.22	(3.17)	17.06
CTS	1.51	0.00	0.02	0.13	1.58	(1.78)	3.09	(2.78)	9.74
BHE	1.44	0.03	0.02	0.16	2.94	(1.55)	3.22	(1.98)	18.09
LYTS	1.39	(0.01)	0.00	0.12	2.01	(1.39)	3.27	(2.81)	8.66
BELFB	1.85	0.43	0.21	0.52	1.69	(2.13)	4.04	(3.30)	10.99
BELFA	2.20	0.30	0.15	0.32	1.96	(2.46)	4.98	(3.59)	13.68
MEI	2.63	0.16	0.04	0.23	5.16	(2.57)	5.59	(3.57)	33.90
SANM	1.42	0.31	0.19	0.44	1.41	(1.69)	2.86	(2.48)	8.16
RELL	1.89	0.07	0.05	0.18	2.02	(2.08)	3.89	(3.43)	10.26

Daktronics Corporate Executives

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

Sheila CPA	Treasurer CFO	Profile
Howard Atkins	Treasurer, CFO	Profile
Sheila Anderson	CFO and Treasurer	Profile

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