NetScout Systems Correlations

NTCT Stock

USD 26.97 0.23 0.85%

The current 90-days correlation between NetScout Systems and AllianceBernstein Holding LP is 0.22 (i.e., Modest diversification). The correlation of NetScout Systems 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.

NetScout Systems Correlation With Market

Weak diversification

The correlation between NetScout Systems and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NetScout Systems and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with NetScout Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in NetScout Systems. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

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

Moving together with NetScout Stock

0.63	F	Ford Motor Aggressive Push	Pair Corr
0.72	IBM	International Business	Pair Corr
0.64	BAC	Bank of America Earnings Call This Week	Pair Corr

Moving against NetScout Stock

0.39

Procter Gamble

Pair Corr

Related Correlations Analysis

	BAC-PE	ATLKY	COKE	MRK	RCRUY	WRTBY	BAC-PB	AB	AA
BAC-PE		-0.19	-0.83	-0.89	-0.62	-0.73	0.27	-0.33	-0.75	BAC-PE
ATLKY	-0.19		-0.1	0.41	0.7	0.6	0.24	-0.1	0.71	ATLKY
COKE	-0.83	-0.1		0.75	0.29	0.54	-0.37	0.65	0.44	COKE
MRK	-0.89	0.41	0.75		0.67	0.75	-0.11	0.37	0.84	MRK
RCRUY	-0.62	0.7	0.29	0.67		0.66	0.13	-0.11	0.85	RCRUY
WRTBY	-0.73	0.6	0.54	0.75	0.66		0.1	0.33	0.87	WRTBY
BAC-PB	0.27	0.24	-0.37	-0.11	0.13	0.1		-0.09	0.19	BAC-PB
AB	-0.33	-0.1	0.65	0.37	-0.11	0.33	-0.09		0.1	AB
AA	-0.75	0.71	0.44	0.84	0.85	0.87	0.19	0.1		AA
	BAC-PE	ATLKY	COKE	MRK	RCRUY	WRTBY	BAC-PB	AB	AA

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

AA	+ 0.87	WRTBY
AA	+ 0.85	RCRUY
AA	+ 0.84	MRK
MRK	+ 0.75	COKE
WRTBY	+ 0.75	MRK
AA	+ 0.71	ATLKY

High negative correlations

MRK	- 0.89	BAC-PE
COKE	- 0.83	BAC-PE
AA	- 0.75	BAC-PE
WRTBY	- 0.73	BAC-PE
RCRUY	- 0.62	BAC-PE
BAC-PB	- 0.37	COKE

Risk-Adjusted Indicators

There is a big difference between NetScout Stock performing well and NetScout Systems 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 NetScout Systems' 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
BAC-PE	0.54	(0.16)	0.00	(0.63)	0.00	0.00	0.86	(1.49)	2.96
ATLKY	1.32	(0.01)	0.00	0.06	1.46	(1.54)	2.75	(2.56)	6.08
COKE	1.22	0.36	0.19	(5.90)	1.04	(1.29)	3.53	(2.26)	9.33
MRK	1.23	0.29	0.21	0.42	1.08	(1.52)	3.59	(1.98)	8.09
RCRUY	1.95	0.11	0.06	0.17	1.98	(2.42)	4.67	(3.68)	13.73
WRTBY	1.86	0.47	0.17	(1.01)	1.72	(2.18)	3.96	(3.49)	13.44
BAC-PB	0.17	0.00	(0.33)	0.06	0.12	(0.22)	0.55	(0.36)	1.07
AB	0.95	(0.03)	(0.04)	0.04	1.26	(0.91)	2.22	(1.79)	6.01
AA	2.92	0.78	0.31	0.39	2.46	(3.59)	6.80	(4.82)	18.14

NetScout Systems Corporate Management

Debby Briggs	VP Officer	Profile
Scott Dressel	Assistant Finance	Profile
Thor Wallace	Chief VP	Profile
Eric Watt	Chief Officer	Profile

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