Belden Correlations

BDC Stock

USD 147.29 1.27 0.85%

The current 90-days correlation between Belden Inc and CommScope Holding Co is -0.06 (i.e., Good 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 0.6 (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.

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 together with Belden Stock

0.82	Q	Qnity Electronics Earnings Call Today	Pair Corr
0.62	FN	Fabrinet Tech Boost	Pair Corr
0.88	KN	Knowles Cor	Pair Corr
0.86	LFS	Littelfuse	Pair Corr
0.76	PX4	Plexus Corp	Pair Corr
0.73	AN1	Anritsu	Pair Corr
0.89	PJJ1	CHINA DISPLAY OTHHD	Pair Corr
0.76	MKT	MKS Instruments	Pair Corr
0.65	MUR1	Murata Manufacturing	Pair Corr
0.88	VNI	Avnet Inc	Pair Corr
0.85	BRV	Brady	Pair Corr
0.74	H7B	COHERENT CORP	Pair Corr
0.7	MLI	MESA LABS INC	Pair Corr

Moving against Belden Stock

0.83	EBON	Ebang International	Pair Corr
0.68	KE	Kimball Electronics	Pair Corr
0.4	OBD	Obducat AB	Pair Corr
0.35	AMPGW	AmpliTech Group	Pair Corr
0.68	EVLV	Evolv Technologies Earnings Call Today	Pair Corr
0.66	EHGO	Eshallgo Class A	Pair Corr
0.46	OTK	Otsuka	Pair Corr
0.32	75S	SDM SE INH	Pair Corr
0.32	ELSE	Electro Sensors	Pair Corr
0.71	SC3	ScanSource	Pair Corr
0.64	GEG	GEO Group	Pair Corr
0.59	WRAP	Wrap Technologies Earnings Call Today	Pair Corr
0.42	FCUV	Focus Universal	Pair Corr

Related Correlations Analysis

	COMM	VSAT	ITRI	OSIS	BOX	CLSK	QLYS	ACIW	WEX	VIAV
COMM		0.77	0.36	0.57	-0.6	-0.16	-0.5	-0.5	0.67	0.43	COMM
VSAT	0.77		0.42	0.54	-0.85	-0.25	-0.74	-0.8	0.6	0.77	VSAT
ITRI	0.36	0.42		0.27	-0.35	0.07	-0.18	-0.37	0.48	0.4	ITRI
OSIS	0.57	0.54	0.27		-0.36	0.12	-0.46	-0.31	0.54	0.28	OSIS
BOX	-0.6	-0.85	-0.35	-0.36		0.57	0.88	0.93	-0.34	-0.89	BOX
CLSK	-0.16	-0.25	0.07	0.12	0.57		0.67	0.45	0.02	-0.54	CLSK
QLYS	-0.5	-0.74	-0.18	-0.46	0.88	0.67		0.81	-0.29	-0.85	QLYS
ACIW	-0.5	-0.8	-0.37	-0.31	0.93	0.45	0.81		-0.24	-0.86	ACIW
WEX	0.67	0.6	0.48	0.54	-0.34	0.02	-0.29	-0.24		0.3	WEX
VIAV	0.43	0.77	0.4	0.28	-0.89	-0.54	-0.85	-0.86	0.3		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

ACIW	+ 0.93	BOX
QLYS	+ 0.88	BOX
ACIW	+ 0.81	QLYS
VSAT	+ 0.77	COMM
VIAV	+ 0.77	VSAT
WEX	+ 0.67	COMM

High negative correlations

VIAV	- 0.89	BOX
VIAV	- 0.86	ACIW
VIAV	- 0.85	QLYS
BOX	- 0.85	VSAT
ACIW	- 0.8	VSAT
QLYS	- 0.74	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	0.11	1.96	2.44	(2.16)	4.14	(4.01)	15.17
VSAT	3.93	0.27	0.10	0.18	4.90	(4.42)	9.38	(8.75)	26.09
ITRI	1.54	(0.11)	(0.02)	0.03	2.31	(1.46)	2.76	(4.08)	12.26
OSIS	1.92	0.20	0.11	0.23	2.03	(2.14)	4.86	(3.47)	14.59
BOX	1.60	(0.44)	0.00	(0.35)	0.00	0.00	3.02	(4.59)	12.81
CLSK	5.08	(0.04)	0.03	0.08	6.12	(5.68)	13.79	(9.26)	37.07
QLYS	1.79	(0.61)	0.00	(3.30)	0.00	0.00	2.63	(5.54)	17.06
ACIW	1.58	(0.28)	0.00	(0.11)	0.00	0.00	2.96	(4.48)	12.00
WEX	1.73	(0.06)	0.01	0.07	2.13	(1.98)	3.40	(3.62)	14.87
VIAV	2.51	0.89	0.36	0.71	2.11	(3.38)	5.90	(3.36)	22.78

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