Avnet Correlations

AVT Stock

USD 66.62 2.33 3.62%

The current 90-days correlation between Avnet Inc and Insight Enterprises is 0.38 (i.e., Weak 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 0.62 (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.

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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 real.

Moving together with Avnet Stock

0.98	ARW	Arrow Electronics Tech Boost	Pair Corr
0.88	BHE	Benchmark Electronics Tech Boost	Pair Corr
0.89	CTS	CTS Corporation	Pair Corr
0.92	GLW	Corning Incorporated Tech Boost	Pair Corr
0.65	JBL	Jabil Circuit Tech Boost	Pair Corr
0.73	MEI	Methode Electronics Tech Boost	Pair Corr
0.7	ROG	Rogers Tech Boost	Pair Corr
0.84	TDY	Teledyne Technologies	Pair Corr
0.65	ME5A	Methode Electronics	Pair Corr
0.72	IPGP	IPG Photonics Tech Boost	Pair Corr
0.89	ARW	Arrow Electronics	Pair Corr
0.81	BELFB	Bel Fuse B Tech Boost	Pair Corr
0.69	RE3	Richardson Electronics	Pair Corr

Moving against Avnet Stock

0.64	HOLO	MicroCloud Hologram	Pair Corr
0.6	GFAI	Guardforce AI	Pair Corr
0.58	LPL	LG Display	Pair Corr
0.53	EHGO	Eshallgo Class A	Pair Corr
0.38	WBX	Wallbox NV	Pair Corr
0.35	EVLV	Evolv Technologies	Pair Corr
0.72	KSCP	Knightscope	Pair Corr
0.67	REFR	Research Frontiers	Pair Corr
0.63	SXC	Sunny Optical Technology	Pair Corr
0.6	ZEPP	Zepp Health Corp	Pair Corr
0.52	SNT	Sabien Technology	Pair Corr
0.4	TTG	TT Electronics Plc	Pair Corr
0.31	INVE	Identiv	Pair Corr

Related Correlations Analysis

	NSIT	PLXS	SAIC	COMM	DOCN	PSFE	ARW	VRRM	VIAV	DLO
NSIT		-0.44	-0.42	-0.66	-0.37	0.68	-0.28	0.43	-0.29	0.12	NSIT
PLXS	-0.44		0.57	0.46	0.83	-0.41	0.92	-0.69	0.89	0.13	PLXS
SAIC	-0.42	0.57		0.7	0.63	-0.09	0.41	0.03	0.26	0.63	SAIC
COMM	-0.66	0.46	0.7		0.53	-0.37	0.4	-0.19	0.34	0.36	COMM
DOCN	-0.37	0.83	0.63	0.53		-0.33	0.78	-0.52	0.74	0.32	DOCN
PSFE	0.68	-0.41	-0.09	-0.37	-0.33		-0.27	0.58	-0.34	0.48	PSFE
ARW	-0.28	0.92	0.41	0.4	0.78	-0.27		-0.74	0.95	0.1	ARW
VRRM	0.43	-0.69	0.03	-0.19	-0.52	0.58	-0.74		-0.82	0.38	VRRM
VIAV	-0.29	0.89	0.26	0.34	0.74	-0.34	0.95	-0.82		-0.01	VIAV
DLO	0.12	0.13	0.63	0.36	0.32	0.48	0.1	0.38	-0.01		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	+ 0.95	ARW
ARW	+ 0.92	PLXS
VIAV	+ 0.89	PLXS
DOCN	+ 0.83	PLXS
ARW	+ 0.78	DOCN
VIAV	+ 0.74	DOCN

High negative correlations

VIAV	- 0.82	VRRM
VRRM	- 0.74	ARW
VRRM	- 0.69	PLXS
COMM	- 0.66	NSIT
VRRM	- 0.52	DOCN
PLXS	- 0.44	NSIT

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	1.67	(0.33)	0.00	(0.21)	0.00	0.00	2.96	(4.16)	9.57
PLXS	1.98	0.52	0.22	0.35	1.98	(2.22)	4.31	(3.99)	12.94
SAIC	1.50	0.05	0.03	0.09	1.66	(1.63)	3.42	(2.60)	21.53
COMM	1.99	0.39	0.13	4.74	2.44	(2.16)	4.14	(4.01)	15.17
DOCN	2.81	0.52	0.19	0.29	2.60	(3.30)	7.04	(5.17)	24.83
PSFE	2.84	(0.80)	0.00	(0.20)	0.00	0.00	4.29	(5.02)	31.29
ARW	1.22	0.32	0.21	0.35	1.16	(1.33)	3.50	(2.33)	7.89
VRRM	1.23	(0.35)	0.00	(0.55)	0.00	0.00	2.29	(2.65)	8.35
VIAV	2.40	0.54	0.21	0.42	2.44	(3.13)	5.62	(4.94)	22.78
DLO	1.96	(0.25)	0.00	(0.09)	0.00	0.00	3.11	(4.13)	11.21

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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