Daktronics Correlations

Stocks . USA . 
Stock . Daktronics
DAKT Stock  USD 27.48  0.03  0.11%   
The current 90-days correlation between Daktronics and Allient is 0.4 (i.e., Very weak 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

Poor diversification

The correlation between Daktronics and DJI is 0.78 (i.e., Poor 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.
  
Build AI portfolio with Daktronics Stock
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.

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Moving against Daktronics Stock

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Related Correlations Analysis


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

VTEX
+ 0.93
NTGR
LYTS
+ 0.92
ALNT
SSYS
+ 0.91
ALNT
SSYS
+ 0.88
LYTS
GILT
+ 0.86
SSYS
SSYS
+ 0.81
BKSY
  

High negative correlations

VTEX
- 0.87
LYTS
VTEX
- 0.86
ALNT
VTEX
- 0.85
SSYS
NTGR
- 0.82
LYTS
NTGR
- 0.82
ALNT
SSYS
- 0.79
NTGR

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
ALNT  1.98  0.31  0.15  0.22  2.10 
(2.30)
 5.29 
(4.04)
 11.43 
LYTS  1.55  0.19  0.12  0.15  1.52 
(1.84)
 3.58 
(2.76)
 18.90 
PENG  2.36 (0.16) 0.00 (0.03) 0.00 
 0.00 
 5.14 
(4.54)
 20.51 
NTGR  1.76 (0.57) 0.00 (0.41) 0.00 
 0.00 
 2.59 
(4.06)
 10.39 
SCSC  1.79 (0.20) 0.00 (0.06) 0.00 
 0.00 
 3.06 
(4.60)
 22.72 
BKSY  5.06  0.60  0.10  0.28  6.18 
(5.47)
 10.49 
(10.72)
 24.47 
ARQQ  4.07 (0.94) 0.00 (0.20) 0.00 
 0.00 
 7.88 
(9.81)
 25.62 
SSYS  2.40  0.13  0.08  0.08  2.31 
(2.87)
 6.06 
(4.07)
 19.51 
VTEX  1.59 (0.46) 0.00 (0.68) 0.00 
 0.00 
 2.75 
(4.11)
 11.52 
GILT  3.24  0.18  0.03  0.17  5.15 
(3.04)
 5.36 
(4.94)
 35.30 

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 CPATreasurer CFOProfile
Howard AtkinsTreasurer, CFOProfile
Sheila AndersonCFO and TreasurerProfile
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