Analog Devices Correlations

ADI Stock

USD 361.36 5.27 1.48%

The current 90-days correlation between Analog Devices and Texas Instruments Incorporated is 0.66 (i.e., Poor diversification). The correlation of Analog Devices 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.

Analog Devices Correlation With Market

Very poor diversification

The correlation between Analog Devices and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Analog Devices and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Analog Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Analog Devices. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in small area income & poverty estimates.

For more detail on how to invest in Analog Stock please use our How to Invest in Analog Devices guide.

Moving together with Analog Stock

0.95	DIOD	Diodes Incorporated	Pair Corr
0.83	AIX2	AIXTRON SE	Pair Corr
0.89	MU	Micron Technology Aggressive Push	Pair Corr
0.97	ON	ON Semiconductor	Pair Corr
0.77	AMK	Amkor Technology	Pair Corr
0.85	ASM	ASM International Earnings Call This Week	Pair Corr
0.88	ALKAL	Kalray SA	Pair Corr
0.66	TWA	TOWA	Pair Corr
0.95	KU1	Kulicke and Soffa	Pair Corr
0.94	TEY	Teradyne	Pair Corr
0.71	INL	Intel	Pair Corr
0.8	CTNK	Centrotherm International	Pair Corr
0.91	ENPH	Enphase Energy	Pair Corr
0.99	ANL	Analog Devices	Pair Corr
0.95	ENTG	Entegris Sell-off Trend	Pair Corr
0.7	WAF	Siltronic AG	Pair Corr
0.85	ROM	ROHM Co	Pair Corr
0.66	VNX	NXP Semiconductors	Pair Corr
0.92	2DQ	ASE TECHNHLDGCOLTD	Pair Corr
0.9	ASME	ASML Holding NV	Pair Corr
0.85	AIXA	AIXTRON SE Earnings Call Tomorrow	Pair Corr
0.89	ASMF	ASML HOLDING NY	Pair Corr
0.86	BSI	BE Semiconductor Ind	Pair Corr
0.79	UMCB	United Microelectronics	Pair Corr

Moving against Analog Stock

0.76	L5A	Canadian Solar	Pair Corr
0.74	DQ	Daqo New Energy Earnings Call Tomorrow	Pair Corr
0.62	NA	Nano Labs	Pair Corr
0.48	PI	Impinj Inc	Pair Corr
0.7	5PZ	SOLTEC POWER HOLD Split	Pair Corr
0.4	2DG	SIVERS SEMICONDUCTORS Earnings Call Tomorrow	Pair Corr

Related Correlations Analysis

	TXN	DELL	KLAC	MSTR	CDNS	SNPS	MRVL	NXPI	STM	MPWR
TXN		-0.48	0.75	-0.83	-0.57	0.02	-0.48	0.65	0.89	0.97	TXN
DELL	-0.48		-0.65	0.52	0.56	-0.11	0.79	-0.24	-0.46	-0.49	DELL
KLAC	0.75	-0.65		-0.54	-0.22	0.48	-0.41	0.71	0.78	0.78	KLAC
MSTR	-0.83	0.52	-0.54		0.74	0.15	0.59	-0.44	-0.79	-0.8	MSTR
CDNS	-0.57	0.56	-0.22	0.74		0.56	0.74	0.1	-0.38	-0.58	CDNS
SNPS	0.02	-0.11	0.48	0.15	0.56		0.26	0.64	0.18	-0.03	SNPS
MRVL	-0.48	0.79	-0.41	0.59	0.74	0.26		-0.07	-0.39	-0.48	MRVL
NXPI	0.65	-0.24	0.71	-0.44	0.1	0.64	-0.07		0.78	0.57	NXPI
STM	0.89	-0.46	0.78	-0.79	-0.38	0.18	-0.39	0.78		0.87	STM
MPWR	0.97	-0.49	0.78	-0.8	-0.58	-0.03	-0.48	0.57	0.87		MPWR
	TXN	DELL	KLAC	MSTR	CDNS	SNPS	MRVL	NXPI	STM	MPWR

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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

MPWR	+ 0.97	TXN
STM	+ 0.89	TXN
MPWR	+ 0.87	STM
MRVL	+ 0.79	DELL
STM	+ 0.78	KLAC
MPWR	+ 0.78	KLAC

High negative correlations

MSTR	- 0.83	TXN
MPWR	- 0.8	MSTR
STM	- 0.79	MSTR
KLAC	- 0.65	DELL
MPWR	- 0.58	CDNS
CDNS	- 0.57	TXN

Risk-Adjusted Indicators

There is a big difference between Analog Stock performing well and Analog Devices 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 Analog Devices' 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
TXN	1.60	0.39	0.29	0.48	0.97	(2.02)	4.22	(2.36)	12.30
DELL	2.22	(0.19)	(0.03)	0.00	3.18	(2.16)	4.22	(5.45)	14.96
KLAC	2.28	0.31	0.10	0.24	3.72	(2.32)	5.69	(4.20)	22.94
MSTR	3.98	(0.87)	0.00	(0.23)	0.00	0.00	5.78	(8.14)	31.72
CDNS	1.88	(0.18)	0.00	(0.03)	0.00	0.00	4.46	(5.34)	13.16
SNPS	1.95	0.10	0.05	0.16	2.69	(1.92)	4.19	(4.35)	13.31
MRVL	2.19	(0.14)	(0.02)	0.02	2.73	(2.37)	5.19	(4.07)	15.18
NXPI	1.86	0.22	0.14	0.23	1.71	(2.15)	5.55	(3.09)	14.37
STM	2.03	0.52	0.23	0.40	1.69	(2.13)	5.51	(3.25)	12.93
MPWR	1.87	0.40	0.17	0.33	2.04	(1.87)	4.79	(4.11)	11.71

Analog Devices Corporate Management

Stephanie Sidelko	Vice Officer	Profile
Gregory Henderson	Energy, Automotive	Profile
Michael Sondel	Chief Accounting Officer and Principal Accounting Officer	Profile
Patrick ODoherty	Senior Healthcare	Profile

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