Digi International Correlations

DGII Stock

USD 44.14 0.98 2.27%

The current 90-days correlation between Digi International and Harmonic is 0.27 (i.e., Modest diversification). The correlation of Digi International 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.

Digi International Correlation With Market

Weak diversification

The correlation between Digi International and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Digi International and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Digi Stock

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

For more detail on how to invest in Digi Stock please use our How to Invest in Digi International guide.

Moving together with Digi Stock

0.82	CSCO	Cisco Systems	Pair Corr
0.71	PPERY	Bank Mandiri Persero	Pair Corr
0.91	PPERF	Bank Mandiri Persero	Pair Corr
0.65	MBFJF	Mitsubishi UFJ Financial	Pair Corr
0.81	JPSTF	JAPAN POST BANK	Pair Corr
0.64	MZHOF	Mizuho Financial Normal Trading	Pair Corr
0.86	FTV	Fortive Corp	Pair Corr
0.76	DGWPF	Drgerwerk AG	Pair Corr
0.81	ADAMI	New York Mortgage Symbol Change	Pair Corr
0.73	BAC	Bank of America	Pair Corr
0.8	MCD	McDonalds	Pair Corr
0.89	JNJ	Johnson Johnson	Pair Corr
0.71	CAT	Caterpillar	Pair Corr
0.91	WMT	Walmart Common Stock Sell-off Trend	Pair Corr
0.68	AXP	American Express	Pair Corr
0.84	MRK	Merck Company	Pair Corr
0.65	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr

Moving against Digi Stock

0.66	MSI	Motorola Solutions	Pair Corr
0.64	FKWL	Franklin Wireless Corp	Pair Corr
0.64	RBBN	Ribbon Communications	Pair Corr
0.59	ANET	Arista Networks	Pair Corr
0.58	BOSC	BOS Better Online	Pair Corr
0.34	BKRKY	Bank Rakyat	Pair Corr
0.73	PG	Procter Gamble	Pair Corr
0.73	MSFT	Microsoft Sell-off Trend	Pair Corr
0.51	T	ATT Inc	Pair Corr
0.44	CVX	Chevron Corp	Pair Corr

Related Correlations Analysis

	HLIT	KARO	ATEN	CTS	TUYA	MXL	PLTK	GILT	AMPL
HLIT		0.42	0.73	-0.09	0.51	0.42	-0.15	0.74	0.01	HLIT
KARO	0.42		0.63	-0.48	0.78	0.22	-0.26	0.4	0.06	KARO
ATEN	0.73	0.63		0.06	0.62	0.61	-0.02	0.46	0.37	ATEN
CTS	-0.09	-0.48	0.06		-0.52	0.47	0.75	-0.48	0.64	CTS
TUYA	0.51	0.78	0.62	-0.52		0.28	-0.48	0.59	-0.23	TUYA
MXL	0.42	0.22	0.61	0.47	0.28		0.29	0.13	0.57	MXL
PLTK	-0.15	-0.26	-0.02	0.75	-0.48	0.29		-0.6	0.66	PLTK
GILT	0.74	0.4	0.46	-0.48	0.59	0.13	-0.6		-0.32	GILT
AMPL	0.01	0.06	0.37	0.64	-0.23	0.57	0.66	-0.32		AMPL
	HLIT	KARO	ATEN	CTS	TUYA	MXL	PLTK	GILT	AMPL

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

TUYA	+ 0.78	KARO
PLTK	+ 0.75	CTS
GILT	+ 0.74	HLIT
ATEN	+ 0.73	HLIT
AMPL	+ 0.66	PLTK
AMPL	+ 0.64	CTS

High negative correlations

GILT	- 0.6	PLTK
TUYA	- 0.52	CTS
PLTK	- 0.48	TUYA
GILT	- 0.48	CTS
CTS	- 0.48	KARO
AMPL	- 0.32	GILT

Risk-Adjusted Indicators

There is a big difference between Digi Stock performing well and Digi International 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 Digi International'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
HLIT	1.44	(0.11)	0.00	(0.01)	0.00	0.00	2.76	(3.80)	10.46
KARO	1.82	(0.41)	0.00	(0.23)	0.00	0.00	5.33	(4.26)	23.83
ATEN	1.25	(0.11)	0.00	(0.08)	0.00	0.00	2.09	(3.16)	6.88
CTS	1.60	0.08	0.04	0.11	2.15	(1.55)	3.72	(4.10)	10.06
TUYA	1.94	(0.24)	0.00	(0.11)	0.00	0.00	4.87	(3.90)	14.03
MXL	3.06	0.14	0.05	0.11	4.28	(3.11)	7.11	(7.39)	20.82
PLTK	1.76	0.06	0.02	0.16	1.96	(2.17)	3.69	(3.28)	17.17
GILT	2.61	(0.06)	0.01	0.03	3.04	(2.79)	5.42	(4.56)	15.78
AMPL	2.08	(0.02)	0.00	0.04	2.84	(2.15)	3.58	(4.95)	14.37

Digi International Corporate Management

Mandi Karasek	VP HR	Profile
Terrence Schneider	Senior Management	Profile
Brian Ballenger	Interim Treasurer and Acting Principal Financial Officer and Principal Accounting Officer	Profile
Justin Schmid	Senior Solutions	Profile
James Freeland	Senior Officer	Profile
Gary Marks	Senior Opengear	Profile

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