Belden Correlations

BDC Stock

USD 118.67 1.10 0.94%

The current 90-days correlation between Belden Inc and COMM Old is 0.1 (i.e., Average diversification). The correlation of Belden 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.

Belden Correlation With Market

Very weak diversification

The correlation between Belden Inc and DJI is 0.4 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Belden Inc and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Belden Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Belden 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 small area income & poverty estimates.

Moving against Belden Stock

0.71	002175	Oriental Times Media	Pair Corr
0.37	600082	Tianjin Hi Tech	Pair Corr
0.4	BKRKF	PT Bank Rakyat	Pair Corr
0.36	PTE	Pioneering Technology	Pair Corr
0.32	002289	Success Electronics	Pair Corr

Related Correlations Analysis

	COMM	VSAT	ITRI	OSIS	BOX	CLSK	QLYS	ACIW	WEX	VIAV
COMM		0.11	-0.55	0.12	-0.53	-0.59	0.08	-0.21	0.36	0.56	COMM
VSAT	0.11		0.18	0.44	-0.58	0.22	-0.49	-0.56	0.55	0.46	VSAT
ITRI	-0.55	0.18		-0.19	0.41	0.8	-0.39	0.37	0.26	-0.57	ITRI
OSIS	0.12	0.44	-0.19		-0.31	0.03	0.05	-0.29	0.27	0.46	OSIS
BOX	-0.53	-0.58	0.41	-0.31		0.42	0.26	0.79	-0.38	-0.63	BOX
CLSK	-0.59	0.22	0.8	0.03	0.42		-0.22	0.28	0.26	-0.31	CLSK
QLYS	0.08	-0.49	-0.39	0.05	0.26	-0.22		0.18	-0.37	0.14	QLYS
ACIW	-0.21	-0.56	0.37	-0.29	0.79	0.28	0.18		-0.2	-0.57	ACIW
WEX	0.36	0.55	0.26	0.27	-0.38	0.26	-0.37	-0.2		0.24	WEX
VIAV	0.56	0.46	-0.57	0.46	-0.63	-0.31	0.14	-0.57	0.24		VIAV
	COMM	VSAT	ITRI	OSIS	BOX	CLSK	QLYS	ACIW	WEX	VIAV

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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

CLSK	+ 0.8	ITRI
ACIW	+ 0.79	BOX
VIAV	+ 0.56	COMM
WEX	+ 0.55	VSAT
VIAV	+ 0.46	VSAT
VIAV	+ 0.46	OSIS

High negative correlations

VIAV	- 0.63	BOX
CLSK	- 0.59	COMM
BOX	- 0.58	VSAT
VIAV	- 0.57	ACIW
VIAV	- 0.57	ITRI
ACIW	- 0.56	VSAT

Risk-Adjusted Indicators

There is a big difference between Belden Stock performing well and Belden 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 Belden'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
COMM	1.99	0.37	0.12	1.20	2.44	(2.16)	4.14	(4.01)	15.17
VSAT	3.57	0.47	0.08	126.59	4.90	(3.75)	6.56	(7.49)	26.09
ITRI	1.76	(0.48)	0.00	(0.31)	0.00	0.00	2.51	(4.16)	24.28
OSIS	2.00	0.04	0.04	0.08	2.27	(2.15)	4.86	(3.74)	20.11
BOX	1.38	(0.42)	0.00	(0.63)	0.00	0.00	2.76	(3.64)	11.36
CLSK	4.67	(0.60)	0.00	(0.22)	0.00	0.00	12.27	(8.72)	33.02
QLYS	1.56	0.03	0.01	0.08	1.82	(1.75)	2.52	(3.12)	25.56
ACIW	1.25	(0.25)	0.00	(0.56)	0.00	0.00	2.08	(3.30)	9.43
WEX	1.43	(0.08)	0.00	(0.01)	0.00	0.00	3.31	(2.82)	8.14
VIAV	2.63	0.90	0.35	0.69	2.19	(3.62)	5.90	(4.45)	30.34

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