Juniper Networks Correlations

Summary

JNPRDelisted Stock

USD 39.95 0.00 0.00%

The current 90-days correlation between Juniper Networks and Ciena Corp is -0.1 (i.e., Good diversification). The correlation of Juniper Networks 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.

Juniper Networks Correlation With Market

Good diversification

The correlation between Juniper Networks and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Juniper Networks and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with Juniper Stock

0.63	ONDS	Ondas Holdings	Pair Corr
0.66	MOBBW	Mobilicom Limited	Pair Corr
0.69	AMPG	Amplitech Group Tech Boost	Pair Corr

Moving against Juniper Stock

0.61	FKWL	Franklin Wireless Corp	Pair Corr
0.58	VISL	Vislink Technologies	Pair Corr
0.37	ERIC	Telefonaktiebolaget	Pair Corr
0.64	ASNS	Actelis Networks	Pair Corr
0.61	SONM	Sonim Technologies	Pair Corr
0.34	INSG	Inseego Corp	Pair Corr

Related Correlations Analysis

	CIEN	EXTR	HPE	NTGR	MSI	NTAP	VRSN	GLW
CIEN		0.85	0.73	0.87	-0.14	0.84	0.73	0.8	CIEN
EXTR	0.85		0.88	0.83	-0.23	0.98	0.8	0.95	EXTR
HPE	0.73	0.88		0.65	-0.1	0.88	0.69	0.9	HPE
NTGR	0.87	0.83	0.65		-0.25	0.82	0.77	0.74	NTGR
MSI	-0.14	-0.23	-0.1	-0.25		-0.26	-0.18	-0.23	MSI
NTAP	0.84	0.98	0.88	0.82	-0.26		0.78	0.97	NTAP
VRSN	0.73	0.8	0.69	0.77	-0.18	0.78		0.71	VRSN
GLW	0.8	0.95	0.9	0.74	-0.23	0.97	0.71		GLW
	CIEN	EXTR	HPE	NTGR	MSI	NTAP	VRSN	GLW

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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

NTAP	+ 0.98	EXTR
GLW	+ 0.97	NTAP
GLW	+ 0.95	EXTR
GLW	+ 0.9	HPE
HPE	+ 0.88	EXTR
NTAP	+ 0.88	HPE

High negative correlations

NTAP	- 0.26	MSI
MSI	- 0.25	NTGR
GLW	- 0.23	MSI
MSI	- 0.23	EXTR
VRSN	- 0.18	MSI
MSI	- 0.14	CIEN

Risk-Adjusted Indicators

There is a big difference between Juniper Stock performing well and Juniper Networks 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 Juniper Networks' 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
CIEN	1.69	0.42	0.15	0.45	2.41	(1.88)	5.18	(1.83)	19.28
EXTR	1.75	0.40	0.30	0.39	1.11	(2.09)	4.64	(2.37)	9.52
HPE	1.59	0.47	0.35	0.54	0.83	(1.90)	5.01	(2.11)	13.76
NTGR	2.02	0.21	0.11	0.32	1.74	(2.64)	5.16	(2.66)	22.43
MSI	0.90	(0.07)	0.00	(0.05)	0.00	0.00	1.80	(2.04)	9.26
NTAP	1.20	0.27	0.24	0.38	0.71	(1.42)	3.70	(1.64)	8.33
VRSN	1.02	0.16	0.06	0.50	1.08	(1.07)	1.89	(1.80)	11.65
GLW	0.99	0.28	0.29	0.41	0.48	(1.25)	2.91	(1.27)	6.59

Juniper Networks Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Juniper Networks stock to make a market-neutral strategy. Peer analysis of Juniper Networks could also be used in its relative valuation, which is a method of valuing Juniper Networks by comparing valuation metrics with similar companies.

Ciena Corp Extreme Networks Hewlett Packard Enterprise NETGEAR Motorola Solutions NetApp Inc VeriSign Corning Incorporated American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp

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Still Interested in Juniper Networks?

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