Harmonic Correlations

HLIT Stock

USD 12.47 0.08 0.65%

The current 90-days correlation between Harmonic and NETGEAR is 0.03 (i.e., Significant diversification). The correlation of Harmonic 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.

Harmonic Correlation With Market

Weak diversification

The correlation between Harmonic and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Harmonic and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Harmonic. 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 information on how to buy Harmonic Stock please use our How to Invest in Harmonic guide.

Moving together with Harmonic Stock

0.79	CDW	CDW Corp	Pair Corr
0.68	FORM	FormFactor	Pair Corr
0.78	TER	Teradyne	Pair Corr
0.68	ACLS	Axcelis Technologies	Pair Corr
0.71	VLKAF	Volkswagen AG	Pair Corr
0.72	VWAGY	Volkswagen AG 110	Pair Corr
0.68	VLKPF	Volkswagen AG VZO	Pair Corr
0.71	VWAPY	Volkswagen AG Pref	Pair Corr
0.77	KO	Coca Cola Aggressive Push	Pair Corr

Moving against Harmonic Stock

0.8	EHGO	Eshallgo Class A Downward Rally	Pair Corr
0.54	IPGP	IPG Photonics	Pair Corr
0.52	KLIC	Kulicke and Soffa	Pair Corr
0.49	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.42	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.39	COHU	Cohu Inc	Pair Corr
0.36	ASAN	Asana Inc	Pair Corr
0.61	AMZN	Amazon Inc	Pair Corr
0.57	CWAN	Clearwater Analytics	Pair Corr
0.56	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.54	WMT	Walmart Aggressive Push	Pair Corr
0.52	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.51	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.41	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.4	HNHPF	Hon Hai Precision	Pair Corr

Related Correlations Analysis

	NTGR	JNPR	DGII	CLFD	CMTL	DZSI	KVHI	AVNW	COMM	KN
NTGR		-0.34	0.59	-0.52	-0.17	-0.6	0.53	-0.88	0.26	0.43	NTGR
JNPR	-0.34		-0.32	0.8	0.33	0.8	-0.63	0.47	0.49	-0.23	JNPR
DGII	0.59	-0.32		-0.67	-0.31	-0.63	0.42	-0.63	-0.15	0.72	DGII
CLFD	-0.52	0.8	-0.67		0.46	0.8	-0.61	0.66	0.44	-0.42	CLFD
CMTL	-0.17	0.33	-0.31	0.46		0.23	0.22	0.29	0.58	-0.35	CMTL
DZSI	-0.6	0.8	-0.63	0.8	0.23		-0.74	0.65	0.22	-0.34	DZSI
KVHI	0.53	-0.63	0.42	-0.61	0.22	-0.74		-0.52	-0.01	0.16	KVHI
AVNW	-0.88	0.47	-0.63	0.66	0.29	0.65	-0.52		-0.08	-0.47	AVNW
COMM	0.26	0.49	-0.15	0.44	0.58	0.22	-0.01	-0.08		-0.24	COMM
KN	0.43	-0.23	0.72	-0.42	-0.35	-0.34	0.16	-0.47	-0.24		KN
	NTGR	JNPR	DGII	CLFD	CMTL	DZSI	KVHI	AVNW	COMM	KN

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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

CLFD	+ 0.8	JNPR
DZSI	+ 0.8	JNPR
DZSI	+ 0.8	CLFD
KN	+ 0.72	DGII
AVNW	+ 0.66	CLFD
AVNW	+ 0.65	DZSI

High negative correlations

AVNW	- 0.88	NTGR
KVHI	- 0.74	DZSI
CLFD	- 0.67	DGII
AVNW	- 0.63	DGII
DZSI	- 0.63	DGII
KVHI	- 0.63	JNPR

Risk-Adjusted Indicators

There is a big difference between Harmonic Stock performing well and Harmonic 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 Harmonic'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
NTGR	2.31	0.61	0.32	0.63	1.52	(3.08)	5.28	(3.74)	34.60
JNPR	0.38	(0.14)	0.00	(0.54)	0.00	0.00	0.57	(0.80)	5.98
DGII	1.57	(0.01)	0.06	0.12	1.69	(1.81)	3.55	(3.10)	11.66
CLFD	2.11	(0.45)	0.00	(0.18)	0.00	0.00	3.15	(4.79)	10.81
CMTL	4.44	0.03	0.02	0.14	6.36	(4.96)	12.63	(7.40)	40.77
DZSI	5.85	(2.70)	0.00	19.66	0.00	0.00	8.73	(20.00)	63.79
KVHI	1.72	0.19	0.07	0.48	1.64	(2.15)	4.42	(2.92)	10.42
AVNW	2.92	(0.38)	0.00	0.27	0.00	0.00	4.64	(5.01)	52.00
COMM	3.78	0.17	0.04	0.22	5.85	(3.93)	8.17	(6.66)	35.50
KN	1.50	(0.15)	(0.01)	0.05	1.73	(1.70)	2.67	(3.10)	12.11

Harmonic Corporate Management

Gil Rudge	Senior Products	Profile
Walter Jankovic	Chief Officer	Profile
Ian Graham	Senior Services	Profile
David Hanover	Investor Officer	Profile
Timothy Chu	Senior Counsel	Profile
Timothy JD	Senior Counsel	Profile

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