Extreme Networks Correlations

EXTR Stock

USD 16.65 0.11 0.67%

The current 90-days correlation between Extreme Networks and Ondas Holdings is 0.19 (i.e., Average diversification). The correlation of Extreme Networks 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.

Extreme Networks Correlation With Market

Good diversification

The correlation between Extreme Networks and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Extreme Networks and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Extreme Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Extreme Networks. 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.

To learn how to invest in Extreme Stock, please use our How to Invest in Extreme Networks guide.

Moving together with Extreme Stock

0.77	MSI	Motorola Solutions	Pair Corr
0.76	RBBN	Ribbon Communications	Pair Corr
0.67	MSFT	Microsoft Sell-off Trend	Pair Corr

Moving against Extreme Stock

0.79	PPERY	Bank Mandiri Persero	Pair Corr
0.71	FTV	Fortive Corp	Pair Corr
0.68	CSCO	Cisco Systems	Pair Corr
0.67	MZHOF	Mizuho Financial Normal Trading	Pair Corr
0.58	JPSTF	JAPAN POST BANK	Pair Corr
0.54	PTBRY	Bank Negara Indonesia Normal Trading	Pair Corr
0.52	MBFJF	Mitsubishi UFJ Financial	Pair Corr
0.5	DGWPF	Drgerwerk AG	Pair Corr
0.48	PPERF	Bank Mandiri Persero	Pair Corr
0.39	NTCT	NetScout Systems	Pair Corr
0.34	CMTL	Comtech Telecommunicatio Tech Boost	Pair Corr
0.34	PBCRY	Bank Central Asia	Pair Corr
0.32	BKRKY	Bank Rakyat	Pair Corr
0.74	CASXF	Casa Minerals	Pair Corr
0.67	MRK	Merck Company	Pair Corr
0.65	ADAMI	New York Mortgage Symbol Change	Pair Corr
0.62	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.59	BAC	Bank of America	Pair Corr
0.58	JNJ	Johnson Johnson	Pair Corr
0.57	CAT	Caterpillar	Pair Corr
0.57	JPM	JPMorgan Chase Earnings Call This Week	Pair Corr
0.55	AXP	American Express	Pair Corr
0.49	PFE	Pfizer Inc Sell-off Trend	Pair Corr
0.49	IBM	International Business	Pair Corr
0.49	AA	Alcoa Corp	Pair Corr
0.45	KO	Coca Cola	Pair Corr
0.41	VZ	Verizon Communications	Pair Corr
0.35	MCD	McDonalds	Pair Corr
0.33	WMT	Walmart Common Stock Sell-off Trend	Pair Corr

Related Correlations Analysis

	ONDS	KN	DIOD	ODD	CNXC	ALRM	QUBT	SPNS	ACLS	DXC
ONDS		0.13	0.2	0.4	0.44	0.51	0.36	0.36	0.27	0.26	ONDS
KN	0.13		0.76	0.72	0.61	0.25	0.68	-0.38	0.6	0.02	KN
DIOD	0.2	0.76		0.57	0.79	0.24	0.54	-0.02	0.35	0.21	DIOD
ODD	0.4	0.72	0.57		0.81	0.33	0.89	-0.26	0.4	-0.1	ODD
CNXC	0.44	0.61	0.79	0.81		0.37	0.74	0.09	0.25	0.12	CNXC
ALRM	0.51	0.25	0.24	0.33	0.37		0.04	0.17	0.49	0.58	ALRM
QUBT	0.36	0.68	0.54	0.89	0.74	0.04		-0.31	0.22	-0.3	QUBT
SPNS	0.36	-0.38	-0.02	-0.26	0.09	0.17	-0.31		-0.03	0.4	SPNS
ACLS	0.27	0.6	0.35	0.4	0.25	0.49	0.22	-0.03		0.39	ACLS
DXC	0.26	0.02	0.21	-0.1	0.12	0.58	-0.3	0.4	0.39		DXC
	ONDS	KN	DIOD	ODD	CNXC	ALRM	QUBT	SPNS	ACLS	DXC

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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

QUBT	+ 0.89	ODD
CNXC	+ 0.81	ODD
CNXC	+ 0.79	DIOD
DIOD	+ 0.76	KN
QUBT	+ 0.74	CNXC
ODD	+ 0.72	KN

High negative correlations

SPNS	- 0.38	KN
SPNS	- 0.31	QUBT
DXC	- 0.3	QUBT
SPNS	- 0.26	ODD
DXC	- 0.1	ODD
ACLS	- 0.03	SPNS

Risk-Adjusted Indicators

There is a big difference between Extreme Stock performing well and Extreme Networks 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 Extreme Networks' 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
ONDS	7.48	1.05	0.15	0.44	7.13	(8.69)	19.06	(12.50)	42.39
KN	1.28	(0.20)	0.00	(0.06)	0.00	0.00	2.74	(4.14)	8.50
DIOD	2.16	(0.11)	0.00	0.03	3.26	(2.45)	5.26	(3.76)	21.15
ODD	2.26	(0.74)	0.00	(0.57)	0.00	0.00	3.98	(5.12)	15.92
CNXC	1.71	(0.25)	0.00	(0.12)	0.00	0.00	3.51	(5.02)	9.71
ALRM	1.19	(0.07)	0.00	(0.14)	0.00	0.00	2.04	(2.15)	9.93
QUBT	5.73	(0.69)	0.00	(0.14)	0.00	0.00	12.65	(10.79)	34.95
SPNS	955.18	479.32	4,007	6.31	0.00	(1,104)	0.28	(0.14)	32,006
ACLS	2.17	(0.22)	0.00	(0.03)	0.00	0.00	4.89	(4.79)	12.19
DXC	1.75	(0.05)	(0.01)	0.03	2.39	(1.70)	2.74	(3.52)	16.29

Extreme Networks Corporate Management

Joseph Vitalone	Chief Officer	Profile
Gina Christopher	Deputy Counsel	Profile
Paul Semak	Senior International	Profile
Rmi Thomas	Ex CFO	Profile
Wesley Durow	Chief Officer	Profile

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