Avid Technology Correlations

Summary

AVIDDelisted Stock

USD 25.12 0.04 0.16%

The current 90-days correlation between Avid Technology and Alkami Technology is -0.15 (i.e., Good diversification). The correlation of Avid Technology 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.

Avid Technology Correlation With Market

Good diversification

The correlation between Avid Technology and DJI is -0.19 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Avid Technology and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities 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 gross domestic product.

Moving against Avid Stock

0.69	GE	GE Aerospace Fiscal Year End 28th of January 2025	Pair Corr
0.62	MSFT	Microsoft Aggressive Push	Pair Corr
0.58	PBCRY	Bank Central Asia	Pair Corr
0.57	IBM	International Business Fiscal Year End 22nd of January 2025	Pair Corr
0.46	MMM	3M Company Fiscal Year End 28th of January 2025	Pair Corr
0.43	HD	Home Depot	Pair Corr
0.37	PPERY	Bank Mandiri Persero	Pair Corr
0.36	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.35	PBCRF	PT Bank Central	Pair Corr
0.33	TLK	Telkom Indonesia Tbk	Pair Corr
0.31	BKRKY	Bank Rakyat	Pair Corr

Related Correlations Analysis

	IFBD	HTCR	KBNT	BMR	IDAI	AMSWA	ALKT	ASUR	BLKB	ENFN
IFBD		0.47	-0.13	-0.07	0.58	0.37	0.35	0.25	0.03	0.42	IFBD
HTCR	0.47		-0.29	-0.64	0.29	0.78	0.9	0.6	0.28	0.77	HTCR
KBNT	-0.13	-0.29		0.11	0.07	-0.53	-0.28	-0.31	0.16	-0.21	KBNT
BMR	-0.07	-0.64	0.11		0.01	-0.42	-0.72	-0.09	0.06	-0.37	BMR
IDAI	0.58	0.29	0.07	0.01		-0.06	0.11	0.22	0.01	0.09	IDAI
AMSWA	0.37	0.78	-0.53	-0.42	-0.06		0.75	0.55	0.13	0.76	AMSWA
ALKT	0.35	0.9	-0.28	-0.72	0.11	0.75		0.57	0.21	0.65	ALKT
ASUR	0.25	0.6	-0.31	-0.09	0.22	0.55	0.57		0.43	0.47	ASUR
BLKB	0.03	0.28	0.16	0.06	0.01	0.13	0.21	0.43		0.31	BLKB
ENFN	0.42	0.77	-0.21	-0.37	0.09	0.76	0.65	0.47	0.31		ENFN
	IFBD	HTCR	KBNT	BMR	IDAI	AMSWA	ALKT	ASUR	BLKB	ENFN

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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

ALKT	+ 0.9	HTCR
AMSWA	+ 0.78	HTCR
ENFN	+ 0.77	HTCR
ENFN	+ 0.76	AMSWA
ALKT	+ 0.75	AMSWA
ENFN	+ 0.65	ALKT

High negative correlations

ALKT	- 0.72	BMR
BMR	- 0.64	HTCR
AMSWA	- 0.53	KBNT
AMSWA	- 0.42	BMR
ENFN	- 0.37	BMR
ASUR	- 0.31	KBNT

Risk-Adjusted Indicators

There is a big difference between Avid Stock performing well and Avid Technology 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 Avid Technology'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
IFBD	4.53	1.08	0.18	(5.33)	4.12	(5.68)	11.00	(7.55)	25.02
HTCR	5.41	1.26	0.23	0.49	5.44	(6.38)	14.14	(10.17)	26.35
KBNT	4.26	(0.29)	(0.02)	0.00	5.26	(6.12)	7.94	(9.80)	59.23
BMR	3.30	(0.13)	(0.01)	0.05	3.16	(4.63)	8.63	(5.02)	24.22
IDAI	8.65	2.57	0.22	(1.90)	6.48	(19.21)	9.09	(11.11)	47.05
AMSWA	1.44	0.24	0.11	0.79	1.18	(1.67)	3.79	(2.53)	10.40
ALKT	1.98	0.05	0.07	0.15	2.36	(2.19)	5.03	(4.89)	12.66
ASUR	1.85	0.03	0.03	0.15	2.92	(2.06)	5.27	(3.76)	19.48
BLKB	1.37	(0.15)	(0.02)	0.04	2.98	(1.32)	2.93	(2.52)	18.39
ENFN	1.60	0.19	0.12	0.30	1.49	(1.95)	3.93	(2.90)	10.11

View Avid Technology Related Equities

Infobird Co HeartCore Enterprises Kubient Beamr Imaging Ltd Trust Stamp American Software Alkami Technology Asure Software Blackbaud Enfusion Paycor HCM Appfolio Agilysys Mix Telemats Manhattan Associates

Risk & Return

Correlation

Avid Technology Corporate Management

Peter Ennis	VP Support	Profile
Dave Perillo	VP Chain	Profile
Mariesa Victoria	Chief VP	Profile
Whit Rappole	VP Relations	Profile
Kevin Riley	CTO VP	Profile
Alessandra Melloni	Gen Sec	Profile
Joyce Butler	Chief SVP	Profile

Still Interested in Avid Technology?

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