Analog Devices Correlations

ADI Stock

USD 317.63 13.80 4.54%

The current 90-days correlation between Analog Devices and Texas Instruments Incorporated is 0.74 (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 0.87 (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

0.96	TXN	Texas Instruments Buyout Trend	Pair Corr
0.68	INTC	Intel Upward Rally	Pair Corr
0.8	KLAC	KLA Tencor	Pair Corr
0.86	688498	Yuanjie Semiconductor	Pair Corr
0.83	LRCX	Lam Research Corp Aggressive Push	Pair Corr
0.93	AMAT	Applied Materials	Pair Corr
0.7	ISRMF	iShares MSCI	Pair Corr
0.85	MRLWF	Marlowe Plc	Pair Corr
0.85	SHTLF	South32 Limited	Pair Corr
0.82	HYMC	Hycroft Mining Holding Trending	Pair Corr
0.74	F	Ford Motor Earnings Call This Week	Pair Corr
0.84	VASO	Vaso Corp	Pair Corr
0.87	LINC	Lincoln Educational	Pair Corr
0.82	FOX	Fox Corp Class Earnings Call This Week	Pair Corr
0.78	CFTN	Clifton Mining	Pair Corr
0.84	SAIC	Science Applications	Pair Corr
0.9	HL	Hecla Mining	Pair Corr
0.79	EGTIF	eGuarantee	Pair Corr
0.91	TENX	Tenax Therapeutics Downward Rally	Pair Corr
0.72	SNDK	Sandisk Corp Earnings Call Today	Pair Corr
0.72	JCAP	Jefferson Capital Common	Pair Corr
0.86	DAR	Darling Ingredients	Pair Corr
0.88	ONDS	Ondas Holdings	Pair Corr

Moving against Analog Stock

0.78	ARM	Arm Holdings plc Earnings Call This Week	Pair Corr
0.36	NVDA	NVIDIA Aggressive Push	Pair Corr

Related Correlations Analysis

	TXN	DELL	KLAC	MSTR	CDNS	SNPS	MRVL	NXPI	STM	MPWR
TXN		-0.55	0.86	-0.57	0.02	0.89	-0.18	0.89	0.93	0.48	TXN
DELL	-0.55		-0.51	0.89	0.73	-0.36	0.58	-0.32	-0.42	0.26	DELL
KLAC	0.86	-0.51		-0.39	-0.04	0.8	-0.32	0.73	0.87	0.61	KLAC
MSTR	-0.57	0.89	-0.39		0.64	-0.41	0.33	-0.39	-0.43	0.35	MSTR
CDNS	0.02	0.73	-0.04	0.64		0.18	0.53	0.26	0.13	0.55	CDNS
SNPS	0.89	-0.36	0.8	-0.41	0.18		-0.15	0.92	0.94	0.52	SNPS
MRVL	-0.18	0.58	-0.32	0.33	0.53	-0.15		-0.05	-0.16	0.03	MRVL
NXPI	0.89	-0.32	0.73	-0.39	0.26	0.92	-0.05		0.94	0.47	NXPI
STM	0.93	-0.42	0.87	-0.43	0.13	0.94	-0.16	0.94		0.56	STM
MPWR	0.48	0.26	0.61	0.35	0.55	0.52	0.03	0.47	0.56		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

STM	+ 0.94	SNPS
STM	+ 0.94	NXPI
STM	+ 0.93	TXN
NXPI	+ 0.92	SNPS
SNPS	+ 0.89	TXN
NXPI	+ 0.89	TXN

High negative correlations

MSTR	- 0.57	TXN
DELL	- 0.55	TXN
KLAC	- 0.51	DELL
STM	- 0.43	MSTR
STM	- 0.42	DELL
SNPS	- 0.41	MSTR

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	0.29	0.20	0.30	1.15	(2.02)	4.19	(2.39)	11.75
DELL	2.02	(0.50)	0.00	(0.22)	0.00	0.00	3.84	(4.81)	13.28
KLAC	2.00	0.42	0.19	0.29	2.14	(2.16)	4.89	(4.19)	12.91
MSTR	3.33	(0.88)	0.00	(0.79)	0.00	0.00	5.78	(7.55)	15.68
CDNS	1.29	(0.13)	0.00	(0.08)	0.00	0.00	2.67	(3.06)	9.36
SNPS	1.63	0.11	0.05	0.17	2.09	(1.64)	3.78	(3.17)	9.95
MRVL	2.47	(0.06)	0.00	0.03	2.90	(2.79)	5.83	(5.61)	15.18
NXPI	1.70	0.05	0.05	0.10	1.74	(1.97)	4.62	(3.09)	12.56
STM	1.65	0.19	0.12	0.18	1.58	(1.74)	5.16	(2.91)	10.54
MPWR	1.84	0.04	0.03	0.09	2.71	(1.63)	3.91	(4.47)	10.39

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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