Clearfield Correlations

CLFD Stock

USD 31.61 0.17 0.54%

The current 90-days correlation between Clearfield and Cerence is -0.32 (i.e., Very good diversification). The correlation of Clearfield 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.

Clearfield Correlation With Market

Poor diversification

The correlation between Clearfield and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Clearfield and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Clearfield Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Clearfield. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

For information on how to trade Clearfield Stock refer to our How to Trade Clearfield Stock guide.

Moving together with Clearfield Stock

0.64	UI	Ubiquiti Networks	Pair Corr
0.62	VIAV	Viavi Solutions Upward Rally	Pair Corr
0.68	3YL	SMARTOPTICS GRP AS	Pair Corr
0.84	VSAT	ViaSat Inc	Pair Corr
0.69	ENA	Enablence Technologies Earnings Call This Week	Pair Corr
0.69	FFIV	F5 Networks	Pair Corr
0.74	MTLA	Motorola Solutions	Pair Corr
0.72	FIEE	FiEE Inc Symbol Change	Pair Corr
0.73	NOA3	Nokia	Pair Corr
0.86	AP7	Clearfield	Pair Corr
0.73	MSI	Motorola Solutions	Pair Corr
0.71	NOK	Nokia Corp ADR Aggressive Push	Pair Corr
0.73	NOAA	Nokia	Pair Corr
0.66	EKI	Ekinops SA Earnings Call This Week	Pair Corr

Moving against Clearfield Stock

0.7	EXTR	Extreme Networks	Pair Corr
0.66	ERFB	Erf Wireless	Pair Corr
0.66	FKWL	Franklin Wireless Corp	Pair Corr
0.62	ALNTG	Netgem SA	Pair Corr
0.61	GW3	GAPWAVES AB CLASS	Pair Corr
0.48	OCC	Optical Cable Earnings Call This Week	Pair Corr
0.43	PARRO	Parrot	Pair Corr
0.33	TLIK	TELES Informationstech	Pair Corr
0.74	BVC	Batm Advanced Commun	Pair Corr
0.55	SEN	Senetas	Pair Corr
0.49	BYL	Baylin Technologies	Pair Corr
0.48	5BT	BAYLIN TECHNOLOGIES	Pair Corr
0.44	3LO	POWERFLEET INC DL	Pair Corr
0.36	GNSS	Genasys	Pair Corr
0.33	TLIK	TELES Informationstech	Pair Corr
0.32	OCC	Optical Cable Tech Boost	Pair Corr

Related Correlations Analysis

	TSAT	CRNC	OSPN	VPG	BAND	TLS	LZMH	TSSI	FEIM	HCKT
TSAT		0.23	0.26	0.01	0.24	0.04	-0.39	0.25	0.47	0.2	TSAT
CRNC	0.23		0.74	-0.48	0.34	0.84	0.28	0.2	-0.01	0.91	CRNC
OSPN	0.26	0.74		-0.7	0.61	0.68	0.28	-0.23	-0.05	0.87	OSPN
VPG	0.01	-0.48	-0.7		-0.54	-0.48	-0.67	0.31	0.54	-0.57	VPG
BAND	0.24	0.34	0.61	-0.54		0.24	0.19	-0.38	-0.17	0.4	BAND
TLS	0.04	0.84	0.68	-0.48	0.24		0.51	0.3	-0.26	0.84	TLS
LZMH	-0.39	0.28	0.28	-0.67	0.19	0.51		0.0	-0.8	0.28	LZMH
TSSI	0.25	0.2	-0.23	0.31	-0.38	0.3	0.0		0.19	0.09	TSSI
FEIM	0.47	-0.01	-0.05	0.54	-0.17	-0.26	-0.8	0.19		0.04	FEIM
HCKT	0.2	0.91	0.87	-0.57	0.4	0.84	0.28	0.09	0.04		HCKT
	TSAT	CRNC	OSPN	VPG	BAND	TLS	LZMH	TSSI	FEIM	HCKT

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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

HCKT	+ 0.91	CRNC
HCKT	+ 0.87	OSPN
TLS	+ 0.84	CRNC
HCKT	+ 0.84	TLS
OSPN	+ 0.74	CRNC
TLS	+ 0.68	OSPN

High negative correlations

FEIM	- 0.8	LZMH
VPG	- 0.7	OSPN
LZMH	- 0.67	VPG
HCKT	- 0.57	VPG
BAND	- 0.54	VPG
TLS	- 0.48	VPG

Risk-Adjusted Indicators

There is a big difference between Clearfield Stock performing well and Clearfield 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 Clearfield'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
TSAT	3.67	0.46	0.08	0.39	5.77	(3.51)	7.30	(7.11)	33.88
CRNC	3.42	(0.11)	0.00	0.12	0.00	0.00	8.14	(5.48)	38.04
OSPN	1.84	(0.30)	0.00	(0.13)	0.00	0.00	3.63	(5.10)	10.77
VPG	2.53	0.55	0.16	0.35	3.16	(2.72)	6.84	(3.45)	26.91
BAND	1.95	0.11	0.03	0.22	2.63	(2.06)	3.99	(3.75)	19.60
TLS	2.50	(0.63)	0.00	(0.27)	0.00	0.00	4.79	(7.09)	16.80
LZMH	5.05	(1.02)	0.00	3.66	0.00	0.00	9.56	(15.48)	58.11
TSSI	4.63	0.29	0.08	0.17	4.99	(5.13)	11.77	(8.15)	24.88
FEIM	4.16	1.10	0.25	0.85	3.81	(4.76)	8.80	(6.11)	38.17
HCKT	1.82	(0.51)	0.00	(0.30)	0.00	0.00	3.50	(4.60)	17.07

Clearfield Corporate Management

Anis Khemakhem	Chief Officer	Profile
Kevin Morgan	Chief Marketing Officer	Profile
Allen Griser	Executive Advisor	Profile
Bob Cody	Vice Management	Profile
Frank Brixius	General Secretary	Profile
Skip Hansen	Chief Officer	Profile
Daniel Herzog	Chief Officer	Profile

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