Itron Correlations

ITRI Stock

USD 134.84 1.79 1.31%

The current 90-days correlation between Itron Inc and Novanta is 0.05 (i.e., Significant diversification). The correlation of Itron 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.

Itron Correlation With Market

Very weak diversification

The correlation between Itron Inc and DJI is 0.51 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Itron Inc and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Itron Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Itron 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 metropolitan statistical area.

Moving together with Itron Stock

0.93	ST	Sensata Technologies Earnings Call This Week	Pair Corr
0.63	ELSE	Electro Sensors	Pair Corr
0.74	FARO	FARO Technologies	Pair Corr
0.61	BMI	Badger Meter	Pair Corr
0.88	ESE	ESCO Technologies	Pair Corr
0.79	KNW	Know Labs	Pair Corr
0.83	TDY	Teledyne Technologies Earnings Call Today	Pair Corr
0.82	VNT	Vontier Corp	Pair Corr
0.81	VPG	Vishay Precision	Pair Corr
0.86	GRMN	Garmin Earnings Call This Week	Pair Corr
0.79	ITRN	Ituran Location	Pair Corr
0.74	KEYS	Keysight Technologies	Pair Corr
0.74	MIND	Mind Technology	Pair Corr
0.93	MKSI	MKS Instruments	Pair Corr
0.64	NOVT	Novanta	Pair Corr
0.91	BKSY	Blacksky Technology	Pair Corr
0.91	TRMB	Trimble	Pair Corr
0.82	CGNX	Cognex Earnings Call This Week	Pair Corr
0.91	COHR	Coherent	Pair Corr
0.86	VRRM	Verra Mobility Corp	Pair Corr
0.79	ENLV	Enlivex Therapeutics	Pair Corr
0.89	FRGE	Forge Global Holdings	Pair Corr
0.92	IBM	International Business Earnings Call Today	Pair Corr
0.92	LPL	LG Display Earnings Call Today	Pair Corr
0.73	GILT	Gilat Satellite Networks	Pair Corr

Moving against Itron Stock

0.83	MLAB	Mesa Laboratories	Pair Corr
0.58	FCUV	Focus Universal	Pair Corr
0.34	GNSS	Genasys	Pair Corr
0.9	SVRE	SaverOne 2014 Tech Boost	Pair Corr
0.79	ARQQW	Arqit Quantum Warrants	Pair Corr
0.62	SOTK	Sono Tek Corp	Pair Corr
0.54	ODYS	Odysightai Common Stock	Pair Corr

Related Correlations Analysis

	MLAB	NOVT	FTV	VPG	VNT	COHR	ESE	ST	TDY	MKSI
MLAB		-0.29	0.08	-0.53	-0.56	-0.75	-0.68	-0.73	-0.81	-0.72	MLAB
NOVT	-0.29		0.76	0.8	0.83	0.73	0.8	0.82	0.63	0.83	NOVT
FTV	0.08	0.76		0.57	0.57	0.38	0.55	0.48	0.22	0.48	FTV
VPG	-0.53	0.8	0.57		0.91	0.89	0.89	0.88	0.76	0.88	VPG
VNT	-0.56	0.83	0.57	0.91		0.94	0.96	0.94	0.85	0.93	VNT
COHR	-0.75	0.73	0.38	0.89	0.94		0.94	0.95	0.92	0.95	COHR
ESE	-0.68	0.8	0.55	0.89	0.96	0.94		0.97	0.87	0.96	ESE
ST	-0.73	0.82	0.48	0.88	0.94	0.95	0.97		0.87	0.99	ST
TDY	-0.81	0.63	0.22	0.76	0.85	0.92	0.87	0.87		0.88	TDY
MKSI	-0.72	0.83	0.48	0.88	0.93	0.95	0.96	0.99	0.88		MKSI
	MLAB	NOVT	FTV	VPG	VNT	COHR	ESE	ST	TDY	MKSI

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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

MKSI	+ 0.99	ST
ST	+ 0.97	ESE
ESE	+ 0.96	VNT
MKSI	+ 0.96	ESE
ST	+ 0.95	COHR
MKSI	+ 0.95	COHR

High negative correlations

TDY	- 0.81	MLAB
COHR	- 0.75	MLAB
ST	- 0.73	MLAB
MKSI	- 0.72	MLAB
ESE	- 0.68	MLAB
VNT	- 0.56	MLAB

Risk-Adjusted Indicators

There is a big difference between Itron Stock performing well and Itron 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 Itron'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
MLAB	2.46	(0.98)	0.00	(0.33)	0.00	0.00	3.70	(6.38)	14.48
NOVT	1.56	0.14	(0.03)	(0.85)	1.78	(1.69)	2.88	(3.40)	11.36
FTV	1.16	0.06	(0.10)	(0.08)	1.43	(1.26)	2.68	(2.21)	7.92
VPG	2.68	0.16	0.13	0.24	2.53	(3.03)	6.31	(4.53)	24.61
VNT	1.15	0.18	0.17	0.31	0.91	(1.35)	2.16	(2.16)	7.79
COHR	2.29	0.57	0.30	0.47	1.88	(2.71)	7.03	(3.62)	15.09
ESE	1.35	0.35	0.14	5.52	1.07	(1.70)	3.25	(1.99)	10.04
ST	1.99	0.70	0.27	2.85	1.39	(2.29)	4.01	(2.98)	18.61
TDY	0.80	0.29	0.10	(1.75)	0.62	(0.97)	1.90	(1.51)	4.44
MKSI	2.50	0.75	0.21	(2.78)	2.09	(2.99)	6.25	(4.67)	18.27

Itron Corporate Management

Michel Cadieux	Sr. VP of HR	Profile
Christopher Ware	General VP	Profile
Laurie Hahn	Senior Resources	Profile
Simon Pontin	Chief Officer	Profile
Kenneth Gianella	VP Relations	Profile
Paul Vincent	Vice Relations	Profile

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