Belden Correlations

BDC Stock

USD 120.64 1.96 1.65%

The current 90-days correlation between Belden Inc and Extreme Networks is 0.47 (i.e., Very weak 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

Poor diversification

The correlation between Belden Inc and DJI is 0.79 (i.e., Poor 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.

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 unemployment.

Moving together with Belden Stock

0.9	CSCO	Cisco Systems	Pair Corr
0.92	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.75	CWAN	Clearwater Analytics	Pair Corr
0.74	WMT	Walmart Aggressive Push	Pair Corr
0.61	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.88	HPQ	HP Inc	Pair Corr
0.64	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.91	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.7	BAC	Bank of America Aggressive Push	Pair Corr
0.92	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.84	HD	Home Depot	Pair Corr
0.65	T	ATT Inc Aggressive Push	Pair Corr

Moving against Belden Stock

0.72	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.67	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.62	PG	Procter Gamble	Pair Corr
0.61	KO	Coca Cola Aggressive Push	Pair Corr

Related Correlations Analysis

	CLFD	CMTL	KN	EXTR	KVHI	ADTN	MYNA	TSAT	DGII	NTGR
CLFD		0.46	-0.38	-0.4	-0.51	-0.68	-0.33	-0.04	-0.65	-0.49	CLFD
CMTL	0.46		-0.37	-0.3	0.3	-0.39	0.28	0.56	-0.28	-0.14	CMTL
KN	-0.38	-0.37		0.79	0.01	0.65	0.42	-0.14	0.7	0.39	KN
EXTR	-0.4	-0.3	0.79		0.06	0.65	0.51	-0.02	0.61	0.6	EXTR
KVHI	-0.51	0.3	0.01	0.06		0.33	0.45	0.48	0.34	0.45	KVHI
ADTN	-0.68	-0.39	0.65	0.65	0.33		0.56	0.05	0.74	0.64	ADTN
MYNA	-0.33	0.28	0.42	0.51	0.45	0.56		0.49	0.53	0.56	MYNA
TSAT	-0.04	0.56	-0.14	-0.02	0.48	0.05	0.49		0.3	0.47	TSAT
DGII	-0.65	-0.28	0.7	0.61	0.34	0.74	0.53	0.3		0.57	DGII
NTGR	-0.49	-0.14	0.39	0.6	0.45	0.64	0.56	0.47	0.57		NTGR
	CLFD	CMTL	KN	EXTR	KVHI	ADTN	MYNA	TSAT	DGII	NTGR

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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

EXTR	+ 0.79	KN
DGII	+ 0.74	ADTN
DGII	+ 0.7	KN
ADTN	+ 0.65	KN
ADTN	+ 0.65	EXTR
NTGR	+ 0.64	ADTN

High negative correlations

ADTN	- 0.68	CLFD
DGII	- 0.65	CLFD
KVHI	- 0.51	CLFD
NTGR	- 0.49	CLFD
EXTR	- 0.4	CLFD
ADTN	- 0.39	CMTL

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
CLFD	2.13	(0.46)	0.00	(0.21)	0.00	0.00	3.15	(4.79)	10.81
CMTL	4.33	0.13	0.00	(0.69)	6.37	(4.89)	12.63	(7.40)	40.77
KN	1.48	(0.15)	(0.02)	0.03	1.75	(1.70)	2.67	(3.10)	12.11
EXTR	1.76	(0.10)	0.00	0.05	2.13	(1.92)	3.95	(3.30)	18.17
KVHI	1.69	0.23	0.06	(0.87)	1.64	(2.14)	4.42	(2.92)	10.42
ADTN	2.27	0.50	0.26	0.40	1.68	(2.82)	6.31	(3.34)	22.03
MYNA	4.87	0.21	0.03	0.65	4.94	(6.44)	14.29	(8.89)	25.89
TSAT	3.86	0.49	0.06	(0.29)	4.17	(4.62)	10.29	(7.07)	23.01
DGII	1.52	(0.05)	0.02	0.07	1.71	(1.72)	3.54	(3.10)	11.66
NTGR	2.35	0.56	0.29	0.55	1.60	(3.12)	5.28	(3.74)	34.60

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