Amdocs Correlations

DOX Stock

USD 83.73 0.79 0.95%

The current 90-days correlation between Amdocs and CyberArk Software is 0.2 (i.e., Modest diversification). The correlation of Amdocs 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.

Amdocs Correlation With Market

Very weak diversification

The correlation between Amdocs and DJI is 0.5 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Amdocs 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 Amdocs. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

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

Moving together with Amdocs Stock

0.67	CETXP	Cemtrex Pref	Pair Corr
0.65	DBX	Dropbox	Pair Corr
0.68	XNET	Xunlei Ltd Adr	Pair Corr
0.66	RXT	Rackspace Technology	Pair Corr

Moving against Amdocs Stock

0.52	VRNT	Verint Systems	Pair Corr
0.51	VRAR	Glimpse Group	Pair Corr
0.33	VHAI	VHAI	Pair Corr
0.5	LIDRW	AEye Inc	Pair Corr
0.5	XBP	XBP Europe Holdings Symbol Change	Pair Corr
0.42	TCX	Tucows Inc	Pair Corr
0.34	SOS	SOS Limited	Pair Corr

Related Correlations Analysis

	CYBR	FFIV	QLYS	VRSN	EVTC	CCSI	GB	LVOX	ESMT	WEX
CYBR		0.59	0.57	0.26	0.52	0.25	0.06	0.03	0.53	-0.02	CYBR
FFIV	0.59		0.69	0.0	0.53	0.51	0.56	-0.3	0.81	-0.23	FFIV
QLYS	0.57	0.69		0.13	0.81	0.79	0.21	-0.09	0.47	-0.3	QLYS
VRSN	0.26	0.0	0.13		0.18	-0.01	-0.06	-0.04	0.14	0.74	VRSN
EVTC	0.52	0.53	0.81	0.18		0.73	0.33	-0.09	0.43	-0.08	EVTC
CCSI	0.25	0.51	0.79	-0.01	0.73		0.24	-0.24	0.23	-0.34	CCSI
GB	0.06	0.56	0.21	-0.06	0.33	0.24		-0.42	0.41	-0.03	GB
LVOX	0.03	-0.3	-0.09	-0.04	-0.09	-0.24	-0.42		-0.11	-0.22	LVOX
ESMT	0.53	0.81	0.47	0.14	0.43	0.23	0.41	-0.11		-0.01	ESMT
WEX	-0.02	-0.23	-0.3	0.74	-0.08	-0.34	-0.03	-0.22	-0.01		WEX
	CYBR	FFIV	QLYS	VRSN	EVTC	CCSI	GB	LVOX	ESMT	WEX

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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

ESMT	+ 0.81	FFIV
EVTC	+ 0.81	QLYS
CCSI	+ 0.79	QLYS
WEX	+ 0.74	VRSN
CCSI	+ 0.73	EVTC
QLYS	+ 0.69	FFIV

High negative correlations

LVOX	- 0.42	GB
WEX	- 0.34	CCSI
WEX	- 0.3	QLYS
LVOX	- 0.3	FFIV
LVOX	- 0.24	CCSI
WEX	- 0.23	FFIV

Risk-Adjusted Indicators

There is a big difference between Amdocs Stock performing well and Amdocs 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 Amdocs' 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
CYBR	1.34	0.10	0.06	0.19	1.48	(1.45)	3.08	(2.69)	8.13
FFIV	0.98	0.23	0.19	0.37	0.84	(1.11)	1.83	(1.85)	12.18
QLYS	1.72	0.06	0.14	0.11	1.42	(2.07)	3.17	(2.59)	26.78
VRSN	0.79	(0.05)	(0.08)	0.02	0.86	(0.92)	1.77	(1.48)	6.03
EVTC	1.13	0.01	0.01	0.10	1.46	(1.17)	2.24	(2.30)	7.50
CCSI	2.25	0.08	0.07	0.12	2.37	(2.66)	6.28	(3.62)	20.68
GB	2.40	0.26	0.05	11.08	3.43	(2.60)	4.70	(3.51)	23.79
LVOX	2.06	0.00	0.00	0.08	0.00	0.00	4.81	(4.26)	19.68
ESMT	1.57	0.09	0.01	0.43	1.90	(1.59)	3.90	(2.93)	9.34
WEX	1.21	(0.12)	(0.02)	0.01	3.04	(1.11)	1.99	(1.95)	18.29

Amdocs Corporate Management

Darcy Antonellis	Head Media	Profile
Oren Marmur	Head Network	Profile
Gary Miles	Chief Officer	Profile
Matthew Smith	Corporate Secretary	Profile
Mustafa Oyumi	Head Strategy	Profile

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