Digi International Correlations

DGII Stock

USD 30.99 0.27 0.88%

The current 90-days correlation between Digi International and Extreme Networks is 0.4 (i.e., Very weak 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

Modest diversification

The correlation between Digi International and DJI is 0.26 (i.e., Modest 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.

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

0.73	NTAP	NetApp Inc	Pair Corr
0.61	ENTG	Entegris	Pair Corr
0.76	VNT	Vontier Corp	Pair Corr
0.64	KLIC	Kulicke and Soffa	Pair Corr
0.72	PLAB	Photronics	Pair Corr

Moving against Digi Stock

0.41	FCUV	Focus Universal	Pair Corr
0.32	CRCT	Cricut Inc	Pair Corr
0.32	ASTI	Ascent Solar Technol	Pair Corr

Related Correlations Analysis

	EXTR	CIEN	HLIT	CMTL	ADTN	MYNA	KVHI	TSAT	NTGR	ITRN
EXTR		0.7	0.19	0.08	0.62	-0.6	0.66	0.57	0.69	0.62	EXTR
CIEN	0.7		0.2	0.02	0.73	-0.8	0.68	0.83	0.85	0.78	CIEN
HLIT	0.19	0.2		0.59	-0.04	-0.25	0.12	0.28	0.08	0.07	HLIT
CMTL	0.08	0.02	0.59		-0.19	-0.06	0.01	0.19	0.03	-0.05	CMTL
ADTN	0.62	0.73	-0.04	-0.19		-0.62	0.87	0.64	0.8	0.89	ADTN
MYNA	-0.6	-0.8	-0.25	-0.06	-0.62		-0.67	-0.89	-0.64	-0.72	MYNA
KVHI	0.66	0.68	0.12	0.01	0.87	-0.67		0.73	0.73	0.9	KVHI
TSAT	0.57	0.83	0.28	0.19	0.64	-0.89	0.73		0.71	0.8	TSAT
NTGR	0.69	0.85	0.08	0.03	0.8	-0.64	0.73	0.71		0.79	NTGR
ITRN	0.62	0.78	0.07	-0.05	0.89	-0.72	0.9	0.8	0.79		ITRN
	EXTR	CIEN	HLIT	CMTL	ADTN	MYNA	KVHI	TSAT	NTGR	ITRN

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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

ITRN	+ 0.9	KVHI
ITRN	+ 0.89	ADTN
KVHI	+ 0.87	ADTN
NTGR	+ 0.85	CIEN
TSAT	+ 0.83	CIEN
NTGR	+ 0.8	ADTN

High negative correlations

TSAT	- 0.89	MYNA
MYNA	- 0.8	CIEN
ITRN	- 0.72	MYNA
KVHI	- 0.67	MYNA
NTGR	- 0.64	MYNA
MYNA	- 0.62	ADTN

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
EXTR	1.87	0.12	0.02	0.72	2.15	(2.06)	4.28	(3.49)	18.17
CIEN	2.36	0.33	0.07	0.56	4.06	(2.42)	4.93	(3.29)	36.49
HLIT	1.88	(0.36)	0.00	(0.32)	0.00	0.00	3.59	(3.87)	26.83
CMTL	5.45	(0.38)	0.00	0.80	0.00	0.00	8.85	(9.39)	65.93
ADTN	2.34	0.70	0.23	(14.63)	2.25	(2.75)	6.97	(3.61)	27.23
MYNA	8.66	(0.07)	0.00	0.20	0.00	0.00	24.32	(16.67)	78.82
KVHI	1.55	0.40	0.14	(0.93)	1.64	(1.75)	4.21	(2.74)	8.92
TSAT	3.62	0.58	0.11	(0.81)	3.65	(4.27)	7.63	(5.17)	22.33
NTGR	1.84	0.36	0.13	1.89	1.98	(2.03)	4.41	(3.05)	13.29
ITRN	1.20	0.29	0.20	1.04	0.92	(1.52)	3.95	(1.98)	7.35

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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