Gen Digital Correlations

GEN Stock

USD 21.97 0.32 1.48%

The current 90-days correlation between Gen Digital and Unity Software is 0.35 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Gen Digital moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Gen Digital moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Gen Digital Correlation With Market

Very good diversification

The correlation between Gen Digital and DJI is -0.46 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gen Digital and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Gen Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Gen Digital. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in housing.

To learn how to invest in Gen Stock, please use our How to Invest in Gen Digital guide.

Moving together with Gen Stock

0.9	U	Unity Software	Pair Corr
0.61	BGE	Bridge Saas	Pair Corr
0.93	BL	Blackline Sell-off Trend	Pair Corr
0.91	DT	Dynatrace Holdings LLC	Pair Corr
0.74	DV	DoubleVerify Holdings Earnings Call Next Week	Pair Corr
0.84	35U	PAR TECHNOLOGY DL Earnings Call This Week	Pair Corr
0.92	MQ	Marqeta Earnings Call Next Week	Pair Corr
0.85	PD	Pagerduty	Pair Corr
0.67	QH	Quhuo	Pair Corr
0.7	VS	Versus Systems	Pair Corr
0.87	WK	Workiva	Pair Corr
0.82	DMRC	Digimarc Earnings Call Next Week	Pair Corr
0.8	RM	RM Plc	Pair Corr
0.8	2TY	PagerDuty	Pair Corr
0.94	DOCU	DocuSign	Pair Corr
0.78	DOMO	Domo Inc Buyout Trend	Pair Corr
0.77	1Q5	Dropbox	Pair Corr
0.89	VERI	Veritone	Pair Corr
0.84	VERX	Vertex Buyout Trend	Pair Corr
0.88	6NCA	NCINO INC DL	Pair Corr
0.92	DSGX	Descartes Systems	Pair Corr
0.84	LY0	Lyft Inc	Pair Corr
0.68	DTCX	Datacentrex Symbol Change	Pair Corr
0.85	0M5	Bill Holdings	Pair Corr

Moving against Gen Stock

0.66	JG	Aurora Mobile	Pair Corr
0.46	XV7	SERESCO 16	Pair Corr
0.32	ZM	Zoom Video Communications Earnings Call Tomorrow	Pair Corr
0.8	60Z	UNIFIEDPOST GRP SANV Earnings Call This Week	Pair Corr
0.79	RNI	OXFORD METRICS LS	Pair Corr
0.65	DSG	Dillistone Group PLC	Pair Corr
0.51	LUS1	Lang Schwarz Aktieng	Pair Corr
0.51	TRB	Tribal Group plc	Pair Corr
0.76	89P	CLAVISTER HOLDING	Pair Corr

Related Correlations Analysis

	U	BGE	XV7	9NY	BL	DT	DV	JG	35U
U		0.61	-0.23	0.65	0.97	0.87	0.85	-0.63	0.9	U
BGE	0.61		-0.49	0.6	0.57	0.53	0.68	-0.6	0.52	BGE
XV7	-0.23	-0.49		-0.2	-0.29	-0.49	-0.16	0.62	-0.17	XV7
9NY	0.65	0.6	-0.2		0.67	0.57	0.75	-0.63	0.68	9NY
BL	0.97	0.57	-0.29	0.67		0.91	0.82	-0.69	0.89	BL
DT	0.87	0.53	-0.49	0.57	0.91		0.7	-0.71	0.81	DT
DV	0.85	0.68	-0.16	0.75	0.82	0.7		-0.56	0.77	DV
JG	-0.63	-0.6	0.62	-0.63	-0.69	-0.71	-0.56		-0.61	JG
35U	0.9	0.52	-0.17	0.68	0.89	0.81	0.77	-0.61		35U
	U	BGE	XV7	9NY	BL	DT	DV	JG	35U

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

BL	+ 0.97	U
DT	+ 0.91	BL
35U	+ 0.9	U
35U	+ 0.89	BL
DT	+ 0.87	U
DV	+ 0.85	U

High negative correlations

JG	- 0.71	DT
JG	- 0.69	BL
JG	- 0.63	9NY
JG	- 0.63	U
35U	- 0.61	JG
JG	- 0.6	BGE

Risk-Adjusted Indicators

There is a big difference between Gen Stock performing well and Gen Digital 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 Gen Digital'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
U	3.74	(1.13)	0.00	(0.32)	0.00	0.00	7.12	(8.22)	35.96
BGE	3.81	0.38	0.02	0.96	5.94	(11.86)	12.50	(7.14)	65.15
XV7	1.69	0.01	(0.04)	0.03	2.17	(2.23)	3.23	(4.62)	16.01
9NY	5.38	(0.25)	0.00	0.00	0.00	0.00	13.99	(11.71)	28.82
BL	2.08	(0.93)	0.00	(0.34)	0.00	0.00	2.73	(7.06)	15.09
DT	1.63	(0.53)	0.00	(0.47)	0.00	0.00	1.81	(4.08)	13.36
DV	1.55	(0.14)	0.00	0.30	0.00	0.00	2.79	(4.25)	11.25
JG	2.80	0.26	0.05	3.68	3.35	(2.91)	5.92	(4.84)	18.85
35U	3.13	(0.86)	0.00	3.60	0.00	0.00	6.21	(8.54)	20.29

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