Avnet Correlations

AVT Stock

USD 63.77 1.21 1.86%

The current 90-days correlation between Avnet Inc and Insight Enterprises is 0.27 (i.e., Modest diversification). The correlation of Avnet 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.

Avnet Correlation With Market

Poor diversification

The correlation between Avnet Inc and DJI is 0.65 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Avnet Inc and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Avnet Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Avnet Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving together with Avnet Stock

0.87	Q	Qnity Electronics	Pair Corr
0.9	KN	Knowles Cor	Pair Corr
0.93	LFS	Littelfuse	Pair Corr
0.9	PX4	Plexus Corp	Pair Corr
0.63	AN1	Anritsu	Pair Corr
0.93	PJJ1	CHINA DISPLAY OTHHD	Pair Corr
0.77	PRHA	Prosegur Compaa de	Pair Corr
0.77	SATLW	Satellogic Warrant	Pair Corr
0.89	MKT	MKS Instruments	Pair Corr
0.98	VNI	Avnet Inc	Pair Corr
0.89	BRV	Brady	Pair Corr
0.82	H7B	COHERENT CORP	Pair Corr
0.76	BAERW	Bridger Aerospace	Pair Corr
0.69	MLI	MESA LABS INC	Pair Corr

Moving against Avnet Stock

0.91	EBON	Ebang International	Pair Corr
0.69	KE	Kimball Electronics	Pair Corr
0.46	AMPGW	AmpliTech Group	Pair Corr
0.44	OBD	Obducat AB	Pair Corr
0.86	EVLV	Evolv Technologies	Pair Corr
0.74	OTK	Otsuka	Pair Corr
0.71	EHGO	Eshallgo Class A	Pair Corr
0.33	75S	SDM SE INH	Pair Corr
0.76	GEG	GEO Group	Pair Corr
0.74	WRAP	Wrap Technologies	Pair Corr
0.7	SC3	ScanSource	Pair Corr
0.59	FCUV	Focus Universal	Pair Corr

Related Correlations Analysis

	NSIT	PLXS	SAIC	COMM	DOCN	PSFE	ARW	VRRM	VIAV	DLO
NSIT		0.12	-0.21	-0.11	0.24	0.03	0.24	-0.12	0.18	-0.15	NSIT
PLXS	0.12		-0.25	0.74	0.86	-0.82	0.91	-0.84	0.86	-0.55	PLXS
SAIC	-0.21	-0.25		0.2	-0.24	0.54	-0.51	0.59	-0.51	0.8	SAIC
COMM	-0.11	0.74	0.2		0.62	-0.6	0.5	-0.45	0.51	-0.13	COMM
DOCN	0.24	0.86	-0.24	0.62		-0.74	0.86	-0.71	0.75	-0.44	DOCN
PSFE	0.03	-0.82	0.54	-0.6	-0.74		-0.83	0.84	-0.81	0.72	PSFE
ARW	0.24	0.91	-0.51	0.5	0.86	-0.83		-0.89	0.93	-0.71	ARW
VRRM	-0.12	-0.84	0.59	-0.45	-0.71	0.84	-0.89		-0.95	0.77	VRRM
VIAV	0.18	0.86	-0.51	0.51	0.75	-0.81	0.93	-0.95		-0.72	VIAV
DLO	-0.15	-0.55	0.8	-0.13	-0.44	0.72	-0.71	0.77	-0.72		DLO
	NSIT	PLXS	SAIC	COMM	DOCN	PSFE	ARW	VRRM	VIAV	DLO

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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

VIAV	+ 0.93	ARW
ARW	+ 0.91	PLXS
DOCN	+ 0.86	PLXS
VIAV	+ 0.86	PLXS
ARW	+ 0.86	DOCN
VRRM	+ 0.84	PSFE

High negative correlations

VIAV	- 0.95	VRRM
VRRM	- 0.89	ARW
VRRM	- 0.84	PLXS
ARW	- 0.83	PSFE
PSFE	- 0.82	PLXS
VIAV	- 0.81	PSFE

Risk-Adjusted Indicators

There is a big difference between Avnet Stock performing well and Avnet 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 Avnet'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
NSIT	1.86	(0.03)	0.00	0.02	2.75	(1.62)	3.21	(4.49)	14.22
PLXS	1.80	0.44	0.21	0.36	1.79	(1.97)	4.23	(3.51)	12.94
SAIC	1.97	0.17	0.05	0.23	3.30	(2.00)	4.81	(3.85)	32.33
COMM	1.99	0.43	0.13	(0.35)	2.44	(2.16)	4.14	(4.01)	15.17
DOCN	2.94	0.30	0.10	0.17	3.34	(3.33)	7.04	(6.67)	18.40
PSFE	2.89	0.06	0.03	0.06	3.14	(3.44)	6.66	(4.81)	17.88
ARW	1.44	0.43	0.30	0.33	1.03	(1.67)	3.50	(2.18)	14.58
VRRM	1.37	(0.37)	0.00	(1.11)	0.00	0.00	2.71	(2.65)	17.39
VIAV	2.83	0.99	0.36	0.73	2.39	(3.89)	6.01	(5.33)	22.78
DLO	2.04	(0.17)	0.00	(0.05)	0.00	0.00	3.30	(4.49)	12.55

Avnet Corporate Management

Philip Gallagher	Sr. VP and Member of Executive Board	Profile
Michael McCoy	General VP	Profile
Ken Arnold	Chief VP	Profile
Joseph Burke	Vice Relations	Profile
Rebeca ObregonJimenez	Senior Management	Profile
Darrel Jackson	Corporate Secretary	Profile
David Youngblood	Senior Officer	Profile

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