Calix Correlations

CALX Stock

USD 40.18 3.31 8.98%

The current 90-days correlation between Calix Inc and Blackbaud is 0.19 (i.e., Average diversification). The correlation of Calix 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.

Calix Correlation With Market

Modest diversification

The correlation between Calix Inc and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Calix 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 Calix 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 bureau of economic analysis.

Moving together with Calix Stock

0.63	PSTG	Pure Storage	Pair Corr
0.63	ANET	Arista Networks	Pair Corr
0.63	CRCT	Cricut Inc	Pair Corr
0.76	KLAC	KLA Tencor	Pair Corr
0.65	LRCX	Lam Research Corp Buyout Trend	Pair Corr
0.7	NVMI	Nova	Pair Corr

Moving against Calix Stock

0.67	DELL	Dell Technologies	Pair Corr
0.63	S	SentinelOne	Pair Corr
0.57	HPQ	HP Inc	Pair Corr
0.47	DM	Desktop Metal Tech Boost	Pair Corr
0.72	ITRI	Itron Inc	Pair Corr
0.64	KNW	Know Labs	Pair Corr
0.56	INTC	Intel	Pair Corr
0.47	GNSS	Genasys	Pair Corr
0.44	VNT	Vontier Corp	Pair Corr
0.44	ICHR	Ichor Holdings Earnings Call This Week	Pair Corr
0.44	NOVT	Novanta	Pair Corr
0.35	KLIC	Kulicke and Soffa	Pair Corr
0.33	PLAB	Photronics	Pair Corr

Related Correlations Analysis

	BLKB	ENFN	ETWO	MODN	CVT	CVLT	ENV	MANH	AGYS	AZPN
BLKB		-0.43	0.75	-0.23	-0.6	0.42	-0.4	0.29	0.05	-0.29	BLKB
ENFN	-0.43		-0.61	0.74	0.88	0.07	0.35	0.08	0.16	0.85	ENFN
ETWO	0.75	-0.61		-0.33	-0.77	0.5	-0.49	0.38	0.01	-0.41	ETWO
MODN	-0.23	0.74	-0.33		0.7	0.34	-0.05	0.17	0.42	0.76	MODN
CVT	-0.6	0.88	-0.77	0.7		-0.11	0.41	-0.18	0.1	0.82	CVT
CVLT	0.42	0.07	0.5	0.34	-0.11		-0.52	0.52	0.33	0.18	CVLT
ENV	-0.4	0.35	-0.49	-0.05	0.41	-0.52		-0.45	-0.6	0.34	ENV
MANH	0.29	0.08	0.38	0.17	-0.18	0.52	-0.45		0.43	0.0	MANH
AGYS	0.05	0.16	0.01	0.42	0.1	0.33	-0.6	0.43		0.0	AGYS
AZPN	-0.29	0.85	-0.41	0.76	0.82	0.18	0.34	0.0	0.0		AZPN
	BLKB	ENFN	ETWO	MODN	CVT	CVLT	ENV	MANH	AGYS	AZPN

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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

CVT	+ 0.88	ENFN
AZPN	+ 0.85	ENFN
AZPN	+ 0.82	CVT
AZPN	+ 0.76	MODN
ETWO	+ 0.75	BLKB
MODN	+ 0.74	ENFN

High negative correlations

CVT	- 0.77	ETWO
ETWO	- 0.61	ENFN
AGYS	- 0.6	ENV
CVT	- 0.6	BLKB
ENV	- 0.52	CVLT
ENV	- 0.49	ETWO

Risk-Adjusted Indicators

There is a big difference between Calix Stock performing well and Calix 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 Calix'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
BLKB	1.50	(0.21)	0.00	(0.20)	0.00	0.00	2.83	(2.68)	16.55
ENFN	1.65	0.31	0.12	1.48	1.86	(1.99)	3.77	(3.40)	9.86
ETWO	2.00	(0.24)	0.00	(0.15)	0.00	0.00	5.20	(3.51)	17.11
MODN	0.50	0.16	0.09	(24.75)	0.29	(0.69)	1.01	(0.50)	10.58
CVT	0.13	0.02	(0.29)	(3.31)	0.00	(0.18)	0.24	(0.24)	1.07
CVLT	2.17	0.26	0.09	0.52	2.34	(2.62)	4.24	(4.44)	32.23
ENV	0.09	0.00	(0.63)	(0.34)	0.09	(0.10)	0.22	(0.22)	0.68
MANH	1.71	(0.39)	0.00	(0.34)	0.00	0.00	3.16	(3.90)	29.97
AGYS	2.66	(0.25)	0.00	(0.44)	0.00	0.00	4.39	(8.05)	31.17
AZPN	0.63	0.15	0.11	0.64	0.53	(0.72)	1.50	(0.87)	3.86

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