Bandwidth Correlations

BAND Stock

USD 20.67 1.44 7.49%

The current 90-days correlation between Bandwidth and DigitalOcean Holdings is 0.26 (i.e., Modest diversification). The correlation of Bandwidth 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.

Bandwidth Correlation With Market

Very weak diversification

The correlation between Bandwidth and DJI is 0.47 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bandwidth and DJI in the same portfolio, assuming nothing else is changed.

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

For information on how to trade Bandwidth Stock refer to our How to Trade Bandwidth Stock guide.

Moving together with Bandwidth Stock

0.72	LUMN	Lumen Technologies	Pair Corr
0.82	TMUS	T Mobile Fiscal Year End 23rd of January 2025	Pair Corr
0.74	DJCO	Daily Journal Corp	Pair Corr
0.64	EA	Electronic Arts	Pair Corr
0.64	KT	KT Corporation	Pair Corr
0.61	SE	Sea	Pair Corr
0.74	ZI	ZoomInfo Technologies	Pair Corr
0.69	VEON	VEON	Pair Corr

Moving against Bandwidth Stock

0.79	TC	TuanChe ADR	Pair Corr
0.68	VOD	Vodafone Group PLC	Pair Corr
0.64	TU	Telus Corp	Pair Corr
0.4	FNGR	FingerMotion	Pair Corr
0.35	YY	YY Inc Class Earnings Call This Week	Pair Corr
0.74	BCE	BCE Inc	Pair Corr
0.58	EVER	EverQuote Class A	Pair Corr
0.55	DLPN	Dolphin Entertainment	Pair Corr
0.55	ADD	Color Star Technology	Pair Corr
0.5	CELJF	Cellcom Israel	Pair Corr
0.44	WWRL	World Wireless Commu	Pair Corr
0.42	FENG	Phoenix New Media	Pair Corr
0.41	EMWPF	Eros Media World	Pair Corr
0.41	AMX	America Movil SAB	Pair Corr
0.37	AMC	AMC Entertainment Aggressive Push	Pair Corr
0.35	SBSAA	Spanish Broadcasting Earnings Call This Week	Pair Corr
0.34	ADV	Advantage Solutions	Pair Corr

Related Correlations Analysis

	DOCN	ADYEY	OKTA	CFLT	NEWR	RPD	FOUR	APPN	NET	ZS
DOCN		0.53	-0.29	-0.25	0.06	0.08	0.24	-0.26	0.21	-0.11	DOCN
ADYEY	0.53		-0.06	-0.59	0.03	-0.15	-0.33	-0.42	-0.32	-0.42	ADYEY
OKTA	-0.29	-0.06		-0.03	0.05	0.03	-0.22	-0.14	-0.07	0.42	OKTA
CFLT	-0.25	-0.59	-0.03		-0.36	0.71	0.79	0.8	0.83	0.74	CFLT
NEWR	0.06	0.03	0.05	-0.36		-0.55	-0.29	-0.11	-0.33	-0.32	NEWR
RPD	0.08	-0.15	0.03	0.71	-0.55		0.81	0.55	0.8	0.74	RPD
FOUR	0.24	-0.33	-0.22	0.79	-0.29	0.81		0.65	0.91	0.67	FOUR
APPN	-0.26	-0.42	-0.14	0.8	-0.11	0.55	0.65		0.56	0.46	APPN
NET	0.21	-0.32	-0.07	0.83	-0.33	0.8	0.91	0.56		0.76	NET
ZS	-0.11	-0.42	0.42	0.74	-0.32	0.74	0.67	0.46	0.76		ZS
	DOCN	ADYEY	OKTA	CFLT	NEWR	RPD	FOUR	APPN	NET	ZS

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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

NET	+ 0.91	FOUR
NET	+ 0.83	CFLT
FOUR	+ 0.81	RPD
APPN	+ 0.8	CFLT
NET	+ 0.8	RPD
FOUR	+ 0.79	CFLT

High negative correlations

CFLT	- 0.59	ADYEY
RPD	- 0.55	NEWR
ZS	- 0.42	ADYEY
APPN	- 0.42	ADYEY
NEWR	- 0.36	CFLT
NET	- 0.33	NEWR

Risk-Adjusted Indicators

There is a big difference between Bandwidth Stock performing well and Bandwidth 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 Bandwidth'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
DOCN	2.22	(0.16)	0.01	0.06	3.17	(2.39)	5.16	(4.36)	22.00
ADYEY	1.34	(0.21)	0.00	(0.16)	0.00	0.00	3.22	(3.37)	11.07
OKTA	1.50	(0.44)	0.00	(0.36)	0.00	0.00	2.39	(3.42)	19.60
CFLT	2.31	0.50	0.19	0.57	2.15	(2.52)	7.14	(3.85)	18.55
NEWR	1.58	(0.05)	0.00	(0.10)	0.00	0.00	2.68	(3.35)	18.35
RPD	1.77	0.03	0.06	0.14	1.65	(2.12)	4.23	(2.74)	10.83
FOUR	1.61	0.26	0.20	0.24	1.45	(1.81)	3.72	(2.37)	14.40
APPN	1.92	0.20	0.11	0.28	1.75	(2.19)	4.73	(3.11)	11.10
NET	2.03	0.20	0.14	0.24	1.75	(2.41)	5.47	(3.44)	13.45
ZS	1.92	(0.02)	0.00	0.11	3.78	(1.91)	3.73	(3.37)	20.36

Bandwidth Corporate Management

Sanford Preizler	Chief Officer	Profile
Karl Perkins	Chief Officer	Profile
Devin Krupka	Principal Officer	Profile
Anthony Bartolo	Chief Officer	Profile
Richard JD	General Secretary	Profile
Scott Mullen	Chief Officer	Profile

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