NetScout Systems Correlations

NTCT Stock

USD 29.71 0.01 0.03%

The current 90-days correlation between NetScout Systems and Teradata Corp is 0.11 (i.e., Average 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

Poor diversification

The correlation between NetScout Systems and DJI is 0.72 (i.e., Poor 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 services.

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

Moving together with NetScout Stock

0.68	UI	Ubiquiti Networks	Pair Corr
0.72	VIAV	Viavi Solutions	Pair Corr
0.7	3YL	SMARTOPTICS GRP AS	Pair Corr
0.66	VSAT	ViaSat Inc	Pair Corr
0.69	ERIC	Telefonaktiebolaget Aggressive Push	Pair Corr
0.73	FFIV	F5 Networks	Pair Corr
0.72	MTLA	Motorola Solutions	Pair Corr
0.73	FIEE	FiEE Inc Symbol Change	Pair Corr
0.64	1RN	NuRAN Wireless Split	Pair Corr
0.62	ERCG	Telefonaktiebolaget	Pair Corr
0.67	NOA3	Nokia	Pair Corr
0.64	ERCA	Telefonaktiebolaget	Pair Corr
0.64	ERCB	Telefonaktiebolaget	Pair Corr
0.75	MSI	Motorola Solutions	Pair Corr
0.75	NOK	Nokia Corp ADR Aggressive Push	Pair Corr
0.67	FTC	Filtronic	Pair Corr

Moving against NetScout Stock

0.76	ALNTG	Netgem SA	Pair Corr
0.62	FKWL	Franklin Wireless Corp	Pair Corr
0.61	EXTR	Extreme Networks	Pair Corr
0.58	PARRO	Parrot	Pair Corr
0.57	ERFB	Erf Wireless	Pair Corr
0.4	GW3	GAPWAVES AB CLASS	Pair Corr
0.35	TLIK	TELES Informationstech	Pair Corr
0.69	BVC	Batm Advanced Commun	Pair Corr
0.56	BYL	Baylin Technologies	Pair Corr
0.55	SEN	Senetas Earnings Call This Week	Pair Corr
0.46	3LO	POWERFLEET INC DL	Pair Corr
0.43	GNSS	Genasys	Pair Corr

Related Correlations Analysis

	TDC	PAYO	PGY	CSGS	EVTC	MQ	CXM	PLUS	BELFB	FIVN
TDC		-0.2	-0.22	0.0	-0.2	-0.03	0.01	-0.22	0.39	0.1	TDC
PAYO	-0.2		-0.07	0.13	0.02	-0.19	-0.1	0.05	0.24	-0.02	PAYO
PGY	-0.22	-0.07		-0.53	0.83	0.77	0.87	0.7	-0.76	0.73	PGY
CSGS	0.0	0.13	-0.53		-0.32	-0.81	-0.79	-0.69	0.74	-0.77	CSGS
EVTC	-0.2	0.02	0.83	-0.32		0.58	0.72	0.57	-0.55	0.6	EVTC
MQ	-0.03	-0.19	0.77	-0.81	0.58		0.92	0.76	-0.81	0.87	MQ
CXM	0.01	-0.1	0.87	-0.79	0.72	0.92		0.77	-0.77	0.91	CXM
PLUS	-0.22	0.05	0.7	-0.69	0.57	0.76	0.77		-0.7	0.73	PLUS
BELFB	0.39	0.24	-0.76	0.74	-0.55	-0.81	-0.77	-0.7		-0.65	BELFB
FIVN	0.1	-0.02	0.73	-0.77	0.6	0.87	0.91	0.73	-0.65		FIVN
	TDC	PAYO	PGY	CSGS	EVTC	MQ	CXM	PLUS	BELFB	FIVN

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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

CXM	+ 0.92	MQ
FIVN	+ 0.91	CXM
CXM	+ 0.87	PGY
FIVN	+ 0.87	MQ
EVTC	+ 0.83	PGY
MQ	+ 0.77	PGY

High negative correlations

BELFB	- 0.81	MQ
MQ	- 0.81	CSGS
CXM	- 0.79	CSGS
BELFB	- 0.77	CXM
FIVN	- 0.77	CSGS
BELFB	- 0.76	PGY

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
TDC	2.33	0.19	0.06	0.24	2.93	(2.46)	4.26	(3.77)	41.05
PAYO	1.78	(0.11)	0.00	(0.01)	0.00	0.00	3.70	(3.81)	17.25
PGY	3.54	(1.16)	0.00	(0.29)	0.00	0.00	6.60	(6.77)	35.83
CSGS	0.24	0.03	(0.12)	0.51	0.20	(0.27)	0.52	(0.59)	3.33
EVTC	1.40	(0.15)	0.00	(0.07)	0.00	0.00	2.63	(3.14)	9.50
MQ	1.68	(0.30)	0.00	(0.14)	0.00	0.00	2.60	(3.36)	9.53
CXM	1.62	(0.44)	0.00	(0.48)	0.00	0.00	2.65	(4.89)	10.05
PLUS	1.36	(0.23)	0.00	(0.11)	0.00	0.00	2.82	(2.66)	8.05
BELFB	2.19	0.61	0.23	0.41	2.28	(2.39)	4.91	(4.40)	13.15
FIVN	2.53	(0.17)	0.00	(0.01)	0.00	0.00	6.52	(6.64)	15.51

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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