NETGEAR Correlations

NTGR Stock

USD 20.50 0.63 3.17%

The current 90-days correlation between NETGEAR and ADTRAN Inc is 0.45 (i.e., Very weak diversification). The correlation of NETGEAR 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.

NETGEAR Correlation With Market

Excellent diversification

The correlation between NETGEAR and DJI is -0.64 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NETGEAR and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with NETGEAR Stock

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

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

Moving together with NETGEAR Stock

0.86

NDEKY

Nitto Denko Corp

Pair Corr

Moving against NETGEAR Stock

0.87	OBYCF	Obayashi Earnings Call This Week	Pair Corr
0.86	ET	Evertz Technologies	Pair Corr
0.83	FMCB	Farmers Merchants Bancorp	Pair Corr
0.76	BNKHF	BOC Hong Kong	Pair Corr
0.75	DAIUF	Daifuku Co Earnings Call This Week	Pair Corr
0.74	FUWAF	Furukawa Electric	Pair Corr
0.74	SECVY	Seche Environnement	Pair Corr
0.72	NFPDF	Nissin Foods Holdings	Pair Corr
0.71	MWE	MTI Wireless Edge	Pair Corr
0.71	RILYL	B Riley Financial	Pair Corr
0.64	NFG	National Fuel Gas	Pair Corr
0.61	ENA	Enablence Technologies	Pair Corr
0.54	CSCO	Cisco Systems Earnings Call This Week	Pair Corr
0.45	BCC	Beam Communications	Pair Corr
0.45	FCAP	First Capital Downward Rally	Pair Corr
0.39	SHPHF	Sihuan Pharmaceutical	Pair Corr

Related Correlations Analysis

	ADTN	GILT	ITRN	SCSC	AIOT	ALNT	SSYS	DAKT	HLIT	CRSR
ADTN		0.79	0.81	0.27	0.61	0.86	0.8	0.73	0.56	-0.29	ADTN
GILT	0.79		0.73	0.26	0.34	0.91	0.92	0.91	0.26	-0.65	GILT
ITRN	0.81	0.73		0.23	0.66	0.85	0.66	0.75	0.4	-0.51	ITRN
SCSC	0.27	0.26	0.23		0.24	0.29	0.35	0.27	0.37	0.13	SCSC
AIOT	0.61	0.34	0.66	0.24		0.51	0.43	0.25	0.61	0.02	AIOT
ALNT	0.86	0.91	0.85	0.29	0.51		0.87	0.88	0.36	-0.54	ALNT
SSYS	0.8	0.92	0.66	0.35	0.43	0.87		0.84	0.42	-0.43	SSYS
DAKT	0.73	0.91	0.75	0.27	0.25	0.88	0.84		0.26	-0.65	DAKT
HLIT	0.56	0.26	0.4	0.37	0.61	0.36	0.42	0.26		0.33	HLIT
CRSR	-0.29	-0.65	-0.51	0.13	0.02	-0.54	-0.43	-0.65	0.33		CRSR
	ADTN	GILT	ITRN	SCSC	AIOT	ALNT	SSYS	DAKT	HLIT	CRSR

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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

SSYS	+ 0.92	GILT
ALNT	+ 0.91	GILT
DAKT	+ 0.91	GILT
DAKT	+ 0.88	ALNT
SSYS	+ 0.87	ALNT
ALNT	+ 0.86	ADTN

High negative correlations

CRSR	- 0.65	DAKT
CRSR	- 0.65	GILT
CRSR	- 0.54	ALNT
CRSR	- 0.51	ITRN
CRSR	- 0.43	SSYS
CRSR	- 0.29	ADTN

Risk-Adjusted Indicators

There is a big difference between NETGEAR Stock performing well and NETGEAR 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 NETGEAR'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
ADTN	2.36	(0.17)	(0.02)	0.00	4.71	(2.43)	5.01	(4.26)	24.16
GILT	2.86	0.33	0.10	0.31	3.05	(3.04)	5.49	(4.94)	18.23
ITRN	1.50	0.20	0.14	0.30	1.22	(1.87)	4.15	(2.35)	8.21
SCSC	1.72	(0.27)	0.00	(0.05)	0.00	0.00	2.79	(3.01)	22.72
AIOT	2.26	(0.25)	0.00	(0.02)	0.00	0.00	5.18	(5.38)	13.44
ALNT	2.01	0.12	0.07	0.15	2.43	(2.22)	5.29	(4.40)	11.43
SSYS	2.46	(0.07)	0.02	0.05	2.59	(2.94)	6.06	(4.13)	19.51
DAKT	1.98	0.33	0.15	0.29	2.04	(2.25)	3.82	(2.85)	24.79
HLIT	1.70	(0.19)	0.00	(0.04)	0.00	0.00	4.47	(3.80)	11.35
CRSR	2.49	(0.79)	0.00	(0.30)	0.00	0.00	4.30	(4.94)	14.51

NETGEAR Corporate Management

Andrew Kim	Sr. VP of Corporate Devel., General Counsel and Corporate Secretary	Profile
Martin Westhead	Chief Software	Profile
Kirsten Daru	General Officer	Profile
Bryan CPA	Chief Officer	Profile

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