Calix Correlations

CALX Stock

USD 51.65 0.18 0.35%

The current 90-days correlation between Calix Inc and Zeta Global Holdings is 0.15 (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

Good diversification

The correlation between Calix Inc and DJI is -0.18 (i.e., Good 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.

Build AI portfolio with Calix Stock

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 board of governors.

Moving against Calix Stock

0.44	ERCB	Telefonaktiebolaget	Pair Corr
0.43	ERIC	Telefonaktiebolaget	Pair Corr
0.42	ERCG	Telefonaktiebolaget	Pair Corr
0.41	VIAV	Viavi Solutions Tech Boost	Pair Corr
0.41	ERCA	Telefonaktiebolaget	Pair Corr
0.34	S1L	SILICOM LTD IS	Pair Corr
0.33	FFIV	F5 Networks	Pair Corr
0.32	FIEE	FiEE Inc Symbol Change	Pair Corr
0.31	1RN	NuRAN Wireless Split	Pair Corr
0.42	ALLEC	Cogelec SA	Pair Corr

Related Correlations Analysis

	DGNX	ZETA	OS	COMP	VIA	WK	NAVN	BILL	CLSK	BTDR
DGNX		-0.02	-0.76	-0.48	0.91	0.74	0.52	0.5	0.47	-0.02	DGNX
ZETA	-0.02		0.06	0.5	0.26	0.56	0.75	0.44	0.46	0.51	ZETA
OS	-0.76	0.06		0.53	-0.74	-0.58	-0.4	-0.62	-0.31	0.21	OS
COMP	-0.48	0.5	0.53		-0.2	0.09	0.13	-0.18	0.21	0.76	COMP
VIA	0.91	0.26	-0.74	-0.2		0.91	0.72	0.59	0.57	0.21	VIA
WK	0.74	0.56	-0.58	0.09	0.91		0.87	0.65	0.67	0.45	WK
NAVN	0.52	0.75	-0.4	0.13	0.72	0.87		0.7	0.52	0.4	NAVN
BILL	0.5	0.44	-0.62	-0.18	0.59	0.65	0.7		0.38	0.0	BILL
CLSK	0.47	0.46	-0.31	0.21	0.57	0.67	0.52	0.38		0.58	CLSK
BTDR	-0.02	0.51	0.21	0.76	0.21	0.45	0.4	0.0	0.58		BTDR
	DGNX	ZETA	OS	COMP	VIA	WK	NAVN	BILL	CLSK	BTDR

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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

VIA	+ 0.91	DGNX
WK	+ 0.91	VIA
NAVN	+ 0.87	WK
BTDR	+ 0.76	COMP
NAVN	+ 0.75	ZETA
WK	+ 0.74	DGNX

High negative correlations

OS	- 0.76	DGNX
VIA	- 0.74	OS
BILL	- 0.62	OS
WK	- 0.58	OS
COMP	- 0.48	DGNX
NAVN	- 0.4	OS

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
DGNX	7.20	(3.97)	0.00	(2.27)	0.00	0.00	13.33	(20.73)	49.87
ZETA	3.27	(0.14)	0.03	0.07	4.14	(3.16)	8.32	(6.43)	17.98
OS	1.64	0.28	0.10	0.49	1.80	(1.96)	3.71	(3.04)	29.32
COMP	2.52	0.04	0.02	0.14	3.55	(3.07)	5.22	(4.91)	21.55
VIA	3.37	(1.03)	0.00	(1.42)	0.00	0.00	6.06	(7.48)	19.64
WK	1.86	(0.60)	0.00	(0.67)	0.00	0.00	3.07	(6.18)	12.71
NAVN	4.01	(0.61)	0.00	(0.13)	0.00	0.00	8.28	(9.32)	21.66
BILL	2.91	(0.02)	0.00	0.19	0.00	0.00	3.83	(7.09)	46.38
CLSK	5.02	(0.01)	0.03	0.11	6.07	(5.68)	13.79	(9.26)	37.07
BTDR	4.61	(0.53)	0.00	(0.07)	0.00	0.00	9.99	(9.13)	32.96

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