NETGEAR Correlations

NTGR Stock

USD 24.56 0.11 0.45%

The current 90-days correlation between NETGEAR and ADTRAN Inc is 0.32 (i.e., 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

Weak diversification

The correlation between NETGEAR and DJI is 0.36 (i.e., Weak 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 census.

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

Moving together with NETGEAR Stock

0.69	HD	Home Depot	Pair Corr
0.88	MSFT	Microsoft	Pair Corr

Moving against NETGEAR Stock

0.84	MTC	MMTEC Inc Tech Boost	Pair Corr
0.82	PPERY	Bank Mandiri Persero	Pair Corr
0.8	TLK	Telkom Indonesia Tbk	Pair Corr
0.77	CSCO	Cisco Systems Sell-off Trend	Pair Corr
0.68	TLKMF	Telkom Indonesia Tbk	Pair Corr
0.67	AAPL	Apple Inc	Pair Corr
0.62	NHIC	NewHold Investment Corp	Pair Corr
0.62	JBHT	JB Hunt Transport	Pair Corr
0.6	PTAIY	Astra International Tbk	Pair Corr
0.58	PPERF	Bank Mandiri Persero	Pair Corr
0.46	PBCRY	Bank Central Asia	Pair Corr
0.79	DD	Dupont De Nemours	Pair Corr
0.78	TRV	The Travelers Companies	Pair Corr
0.7	JNJ	Johnson Johnson	Pair Corr
0.67	KO	Coca Cola	Pair Corr
0.66	MCD	McDonalds	Pair Corr
0.64	BAC	Bank of America	Pair Corr
0.59	WMT	Walmart Common Stock	Pair Corr
0.57	AA	Alcoa Corp Sell-off Trend	Pair Corr
0.53	MMM	3M Company	Pair Corr
0.4	IBM	International Business	Pair Corr

Related Correlations Analysis

	ADTN	GILT	ITRN	SCSC	AIOT	ALNT	SSYS	DAKT	HLIT	CRSR
ADTN		0.69	-0.21	0.73	0.69	-0.11	0.79	0.59	0.73	0.85	ADTN
GILT	0.69		-0.23	0.38	0.48	-0.01	0.74	0.3	0.71	0.65	GILT
ITRN	-0.21	-0.23		-0.31	0.05	0.78	-0.57	-0.42	0.07	-0.57	ITRN
SCSC	0.73	0.38	-0.31		0.69	-0.37	0.73	0.82	0.63	0.82	SCSC
AIOT	0.69	0.48	0.05	0.69		-0.06	0.62	0.58	0.71	0.62	AIOT
ALNT	-0.11	-0.01	0.78	-0.37	-0.06		-0.47	-0.46	0.02	-0.44	ALNT
SSYS	0.79	0.74	-0.57	0.73	0.62	-0.47		0.68	0.61	0.92	SSYS
DAKT	0.59	0.3	-0.42	0.82	0.58	-0.46	0.68		0.51	0.76	DAKT
HLIT	0.73	0.71	0.07	0.63	0.71	0.02	0.61	0.51		0.59	HLIT
CRSR	0.85	0.65	-0.57	0.82	0.62	-0.44	0.92	0.76	0.59		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

CRSR	+ 0.92	SSYS
CRSR	+ 0.85	ADTN
DAKT	+ 0.82	SCSC
CRSR	+ 0.82	SCSC
SSYS	+ 0.79	ADTN
ALNT	+ 0.78	ITRN

High negative correlations

CRSR	- 0.57	ITRN
SSYS	- 0.57	ITRN
SSYS	- 0.47	ALNT
DAKT	- 0.46	ALNT
CRSR	- 0.44	ALNT
DAKT	- 0.42	ITRN

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	2.35	(0.11)	(0.01)	0.00	4.86	(2.29)	4.76	(4.26)	30.13
GILT	2.70	(0.01)	0.03	0.05	3.05	(2.94)	6.84	(4.56)	15.78
ITRN	1.24	0.27	0.23	0.35	0.89	(1.50)	3.49	(1.74)	8.13
SCSC	1.36	(0.21)	0.00	(0.10)	0.00	0.00	2.50	(2.86)	7.75
AIOT	2.67	(0.09)	0.01	0.03	3.35	(2.93)	6.03	(4.35)	18.84
ALNT	2.53	0.19	0.09	0.15	2.66	(2.92)	6.38	(4.46)	15.33
SSYS	2.36	(0.28)	0.00	(0.06)	0.00	0.00	4.51	(4.88)	22.42
DAKT	1.88	(0.33)	0.00	(0.13)	0.00	0.00	2.82	(3.12)	24.79
HLIT	1.51	(0.13)	0.00	(0.01)	0.00	0.00	2.76	(3.80)	10.46
CRSR	2.87	(0.56)	0.00	(0.20)	0.00	0.00	5.61	(7.03)	21.94

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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