Daktronics Correlations

DAKT Stock

USD 14.34 0.01 0.07%

The current 90-days correlation between Daktronics and OSI Systems is 0.25 (i.e., Modest diversification). The correlation of Daktronics 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.

Daktronics Correlation With Market

Very weak diversification

The correlation between Daktronics and DJI is 0.44 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Daktronics and DJI in the same portfolio, assuming nothing else is changed.

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

For more information on how to buy Daktronics Stock please use our How to Invest in Daktronics guide.

Moving together with Daktronics Stock

0.87	ZS	Zscaler Earnings Call This Week	Pair Corr
0.63	ANY	Sphere 3D Corp	Pair Corr
0.61	MAXN	Maxeon Solar Technologies Downward Rally	Pair Corr
0.67	OKTA	Okta Inc	Pair Corr

Moving against Daktronics Stock

0.56	ENLV	Enlivex Therapeutics	Pair Corr
0.35	VRRM	Verra Mobility Corp	Pair Corr
0.33	GB	Global Blue Group Earnings Call Today	Pair Corr
0.31	ENPH	Enphase Energy	Pair Corr
0.45	VHC	VirnetX Holding Corp	Pair Corr
0.37	FSLR	First Solar	Pair Corr
0.34	IBM	International Business Fiscal Year End 22nd of January 2025	Pair Corr
0.57	OLED	Universal Display	Pair Corr
0.56	NXPL	Nextplat Corp	Pair Corr

Related Correlations Analysis

	PLXS	OSIS	CTS	BHE	LYTS	BELFB	BELFA	MEI	SANM	RELL
PLXS		0.25	0.91	0.96	0.87	0.56	0.51	-0.31	0.87	0.92	PLXS
OSIS	0.25		0.4	0.35	0.47	0.17	-0.06	0.34	0.43	0.05	OSIS
CTS	0.91	0.4		0.93	0.84	0.33	0.25	-0.26	0.98	0.76	CTS
BHE	0.96	0.35	0.93		0.84	0.57	0.5	-0.12	0.91	0.83	BHE
LYTS	0.87	0.47	0.84	0.84		0.4	0.26	-0.32	0.83	0.76	LYTS
BELFB	0.56	0.17	0.33	0.57	0.4		0.96	0.34	0.22	0.61	BELFB
BELFA	0.51	-0.06	0.25	0.5	0.26	0.96		0.28	0.14	0.6	BELFA
MEI	-0.31	0.34	-0.26	-0.12	-0.32	0.34	0.28		-0.27	-0.4	MEI
SANM	0.87	0.43	0.98	0.91	0.83	0.22	0.14	-0.27		0.68	SANM
RELL	0.92	0.05	0.76	0.83	0.76	0.61	0.6	-0.4	0.68		RELL
	PLXS	OSIS	CTS	BHE	LYTS	BELFB	BELFA	MEI	SANM	RELL

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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

SANM	+ 0.98	CTS
BHE	+ 0.96	PLXS
BELFA	+ 0.96	BELFB
BHE	+ 0.93	CTS
RELL	+ 0.92	PLXS
CTS	+ 0.91	PLXS

High negative correlations

RELL	- 0.4	MEI
MEI	- 0.32	LYTS
MEI	- 0.31	PLXS
SANM	- 0.27	MEI
MEI	- 0.26	CTS
MEI	- 0.12	BHE

Risk-Adjusted Indicators

There is a big difference between Daktronics Stock performing well and Daktronics 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 Daktronics' 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
PLXS	1.41	0.22	0.19	0.20	1.21	(1.59)	3.38	(1.91)	12.92
OSIS	1.48	0.05	0.05	0.12	1.80	(1.54)	3.51	(2.91)	12.11
CTS	1.57	(0.03)	0.05	0.07	1.65	(1.80)	3.28	(2.79)	15.09
BHE	1.69	0.01	0.06	0.09	1.79	(1.90)	3.32	(3.84)	13.28
LYTS	1.47	0.37	0.36	0.30	0.85	(1.96)	5.36	(1.65)	10.64
BELFB	1.80	0.06	0.10	0.11	1.67	(2.19)	3.00	(2.86)	20.73
BELFA	1.44	0.05	0.06	0.12	1.46	(1.82)	2.71	(2.61)	17.70
MEI	2.74	(0.41)	0.00	(0.04)	0.00	0.00	5.56	(5.53)	18.54
SANM	1.48	0.01	0.06	0.09	1.50	(1.67)	2.35	(2.64)	15.90
RELL	1.46	0.20	0.15	0.24	1.24	(1.72)	3.38	(1.91)	11.38

Daktronics Corporate Executives

Elected by the shareholders, the Daktronics' board of directors comprises two types of representatives: Daktronics inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Daktronics. The board's role is to monitor Daktronics' management team and ensure that shareholders' interests are well served. Daktronics' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Daktronics' outside directors are responsible for providing unbiased perspectives on the board's policies.

	Sheila CPA	Treasurer CFO	Profile
	Sheila Anderson	CFO and Treasurer	Profile

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