Dolby Laboratories Correlations

DLB Stock

USD 80.30 0.25 0.31%

The current 90-days correlation between Dolby Laboratories and Maximus is 0.28 (i.e., Modest diversification). The correlation of Dolby Laboratories 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.

Dolby Laboratories Correlation With Market

Modest diversification

The correlation between Dolby Laboratories and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dolby Laboratories 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 Dolby Laboratories. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

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

Moving together with Dolby Stock

0.69	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.64	WMT	Walmart Aggressive Push	Pair Corr
0.62	HPQ	HP Inc	Pair Corr
0.7	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.71	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.68	HD	Home Depot	Pair Corr

Moving against Dolby Stock

0.49	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.45	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.34	KO	Coca Cola Aggressive Push	Pair Corr

Related Correlations Analysis

	MMS	NTIP	FA	BV	CVEO	AZZ	CASS	CBZ	RTO
MMS		0.2	0.52	0.01	0.65	-0.38	-0.37	-0.48	0.12	MMS
NTIP	0.2		0.33	-0.65	0.48	-0.17	-0.32	-0.21	0.46	NTIP
FA	0.52	0.33		-0.24	0.62	-0.08	-0.54	-0.56	-0.21	FA
BV	0.01	-0.65	-0.24		-0.39	0.42	0.66	0.52	-0.23	BV
CVEO	0.65	0.48	0.62	-0.39		-0.54	-0.59	-0.7	0.03	CVEO
AZZ	-0.38	-0.17	-0.08	0.42	-0.54		0.65	0.68	-0.09	AZZ
CASS	-0.37	-0.32	-0.54	0.66	-0.59	0.65		0.86	0.06	CASS
CBZ	-0.48	-0.21	-0.56	0.52	-0.7	0.68	0.86		0.29	CBZ
RTO	0.12	0.46	-0.21	-0.23	0.03	-0.09	0.06	0.29		RTO
	MMS	NTIP	FA	BV	CVEO	AZZ	CASS	CBZ	RTO

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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

CBZ	+ 0.86	CASS
CBZ	+ 0.68	AZZ
CASS	+ 0.66	BV
CVEO	+ 0.65	MMS
CASS	+ 0.65	AZZ
CVEO	+ 0.62	FA

High negative correlations

CBZ	- 0.7	CVEO
BV	- 0.65	NTIP
CASS	- 0.59	CVEO
CBZ	- 0.56	FA
AZZ	- 0.54	CVEO
CASS	- 0.54	FA

Risk-Adjusted Indicators

There is a big difference between Dolby Stock performing well and Dolby Laboratories 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 Dolby Laboratories' 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
MMS	1.11	(0.38)	0.00	(0.54)	0.00	0.00	1.76	(2.50)	10.19
NTIP	1.92	(0.12)	0.00	(0.31)	0.00	0.00	3.88	(4.37)	32.25
FA	1.29	(0.07)	(0.04)	0.05	1.57	(1.39)	2.96	(3.01)	9.66
BV	1.65	(0.05)	0.02	0.09	2.70	(1.90)	3.55	(2.88)	19.91
CVEO	1.40	(0.23)	0.00	(0.10)	0.00	0.00	2.24	(3.21)	11.81
AZZ	1.76	0.04	0.09	0.14	1.86	(2.01)	4.18	(2.60)	11.68
CASS	1.33	(0.06)	0.01	0.08	1.57	(1.56)	2.97	(2.97)	9.44
CBZ	1.26	0.05	0.05	0.16	1.43	(1.36)	2.78	(2.49)	9.49
RTO	1.59	(0.35)	0.00	(0.47)	0.00	0.00	2.40	(2.69)	22.43

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