Harmonic Correlations

HLIT Stock

USD 10.68 0.53 5.22%

The current 90-days correlation between Harmonic and Digi International is 0.25 (i.e., Modest 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

Poor diversification

The correlation between Harmonic and DJI is 0.63 (i.e., Poor 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.

Build AI portfolio with Harmonic Stock

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

0.63

CEK

CeoTronics AG

Pair Corr

Moving against Harmonic Stock

0.6	TLIK	TELES Informationstech	Pair Corr
0.46	ALNTG	Netgem SA	Pair Corr
0.4	BVC	Batm Advanced Commun	Pair Corr
0.33	SEN	Senetas Split	Pair Corr
0.31	TLIK	TELES Informationstech	Pair Corr

Related Correlations Analysis

	DGII	CTS	TASK	VRNT	FSLY	YALA	CRCT	UPBD	RPD	PENG
DGII		0.58	-0.19	-0.36	-0.08	0.01	0.26	0.58	-0.19	0.16	DGII
CTS	0.58		-0.7	-0.04	-0.15	0.0	-0.4	0.87	-0.84	-0.26	CTS
TASK	-0.19	-0.7		-0.31	-0.08	0.04	0.53	-0.39	0.86	0.7	TASK
VRNT	-0.36	-0.04	-0.31		0.74	-0.02	-0.26	-0.26	-0.32	-0.23	VRNT
FSLY	-0.08	-0.15	-0.08	0.74		0.27	0.19	-0.27	-0.06	0.13	FSLY
YALA	0.01	0.0	0.04	-0.02	0.27		0.33	-0.08	0.07	0.31	YALA
CRCT	0.26	-0.4	0.53	-0.26	0.19	0.33		-0.25	0.6	0.42	CRCT
UPBD	0.58	0.87	-0.39	-0.26	-0.27	-0.08	-0.25		-0.59	-0.04	UPBD
RPD	-0.19	-0.84	0.86	-0.32	-0.06	0.07	0.6	-0.59		0.52	RPD
PENG	0.16	-0.26	0.7	-0.23	0.13	0.31	0.42	-0.04	0.52		PENG
	DGII	CTS	TASK	VRNT	FSLY	YALA	CRCT	UPBD	RPD	PENG

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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

UPBD	+ 0.87	CTS
RPD	+ 0.86	TASK
FSLY	+ 0.74	VRNT
PENG	+ 0.7	TASK
RPD	+ 0.6	CRCT
CTS	+ 0.58	DGII

High negative correlations

RPD	- 0.84	CTS
TASK	- 0.7	CTS
RPD	- 0.59	UPBD
CRCT	- 0.4	CTS
UPBD	- 0.39	TASK
VRNT	- 0.36	DGII

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
DGII	1.78	0.43	0.17	0.60	2.06	(1.90)	4.26	(3.61)	12.02
CTS	1.39	0.43	0.27	0.38	1.15	(1.54)	3.37	(2.36)	7.56
TASK	1.53	(0.37)	0.00	(0.23)	0.00	0.00	2.24	(3.42)	8.21
VRNT	0.12	0.01	(0.38)	(0.06)	0.06	(0.16)	0.20	(0.20)	0.79
FSLY	4.26	1.05	0.27	(0.84)	2.88	(6.07)	6.51	(5.51)	15.19
YALA	1.33	(0.14)	0.00	(0.17)	0.00	0.00	2.27	(2.00)	9.44
CRCT	1.44	(0.03)	(0.02)	0.02	2.21	(1.46)	2.72	(2.86)	11.37
UPBD	1.88	0.18	0.11	0.17	1.71	(2.26)	4.61	(3.18)	12.05
RPD	2.47	(0.99)	0.00	(0.65)	0.00	0.00	3.56	(6.12)	36.93
PENG	2.46	(0.31)	0.00	(0.08)	0.00	0.00	5.14	(7.16)	20.51

Harmonic Corporate Management

Dan Gledhill	Senior Development	Profile
Gil Rudge	Americas Solutions	Profile
Noam Adika	Senior RD	Profile
Yaniv BenSoussan	Senior Experience	Profile
Walter Jankovic	Chief Officer	Profile
Ian Graham	Senior Services	Profile

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