Analog Devices Correlations

Stocks . Germany . 
Stock . Analog Devices
ANL Stock  EUR 278.50  1.65  0.59%   
The current 90-days correlation between Analog Devices and PT Astra International is -0.16 (i.e., Good 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 0.89 (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.
  
The ability to find closely correlated positions to Analog Devices could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Analog Devices when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Analog Devices - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Analog Devices to buy it.

Moving together with Analog Stock

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Moving against Analog Stock

  0.69BRH Berkshire HathawayPairCorr
  0.63LSPP Chocoladefabriken LindtPairCorr
  0.78DBPD Xtrackers ShortDAXPairCorr
  0.594AH1 PT Ace HardwarePairCorr

Related Correlations Analysis


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

SSUN
+ 0.99
SSU
SSU
+ 0.99
SSU
SSUN
+ 0.99
SSU
SSUN
+ 0.98
SSU
SSU
+ 0.98
SSUN
SSUN
+ 0.98
SSUN
  

High negative correlations

TCID
- 0.64
SSUN
TCID
- 0.64
SSU
TCID
- 0.64
SSUN
TCID
- 0.63
SSU
ASJA
- 0.49
TCID
TCID
- 0.27
SSUN

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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Analog Devices without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Analog Devices Corporate Management

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