Ooma Correlations

OOMA Stock

USD 14.78 0.08 0.54%

The current 90-days correlation between Ooma Inc and Shenandoah Telecommunications Co is 0.25 (i.e., Modest diversification). The correlation of Ooma 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.

Ooma Correlation With Market

Average diversification

The correlation between Ooma Inc and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ooma Inc and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Ooma Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with Ooma Stock

0.62

Weibo Corp

Pair Corr

Moving against Ooma Stock

0.41	TV	Grupo Televisa SAB	Pair Corr
0.35	LUMN	Lumen Technologies Earnings Call This Week	Pair Corr
0.32	DRCT	Direct Digital Holdings	Pair Corr
0.37	ADD	Color Star Technology	Pair Corr
0.31	DDI	Doubledown Interactive	Pair Corr

Related Correlations Analysis

	SHEN	ATEX	LBRDP	IDT	ATNI	LBRDA	CNSL	CABO	RADI	KT
SHEN		0.73	-0.79	0.21	0.76	0.43	-0.69	0.35	0.0	-0.31	SHEN
ATEX	0.73		-0.9	0.68	0.53	0.73	-0.75	0.71	0.0	-0.08	ATEX
LBRDP	-0.79	-0.9		-0.53	-0.67	-0.67	0.78	-0.6	0.0	0.26	LBRDP
IDT	0.21	0.68	-0.53		0.0	0.49	-0.35	0.83	0.0	0.23	IDT
ATNI	0.76	0.53	-0.67	0.0		0.36	-0.53	0.06	0.0	-0.24	ATNI
LBRDA	0.43	0.73	-0.67	0.49	0.36		-0.53	0.6	0.0	-0.12	LBRDA
CNSL	-0.69	-0.75	0.78	-0.35	-0.53	-0.53		-0.5	0.0	0.21	CNSL
CABO	0.35	0.71	-0.6	0.83	0.06	0.6	-0.5		0.0	0.04	CABO
RADI	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	RADI
KT	-0.31	-0.08	0.26	0.23	-0.24	-0.12	0.21	0.04	0.0		KT
	SHEN	ATEX	LBRDP	IDT	ATNI	LBRDA	CNSL	CABO	RADI	KT

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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

CABO	+ 0.83	IDT
CNSL	+ 0.78	LBRDP
ATNI	+ 0.76	SHEN
ATEX	+ 0.73	SHEN
LBRDA	+ 0.73	ATEX
CABO	+ 0.71	ATEX

High negative correlations

LBRDP	- 0.9	ATEX
LBRDP	- 0.79	SHEN
CNSL	- 0.75	ATEX
CNSL	- 0.69	SHEN
LBRDA	- 0.67	LBRDP
ATNI	- 0.67	LBRDP

Risk-Adjusted Indicators

There is a big difference between Ooma Stock performing well and Ooma 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 Ooma'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
SHEN	2.16	(0.41)	0.00	(1.13)	0.00	0.00	3.80	(4.79)	25.16
ATEX	1.60	(0.25)	0.00	(0.22)	0.00	0.00	2.95	(3.21)	14.57
LBRDP	0.57	0.10	0.03	(1.35)	0.60	(0.71)	1.20	(0.95)	4.58
IDT	1.27	(0.02)	(0.04)	0.02	1.49	(1.46)	2.28	(2.44)	11.54
ATNI	2.44	(1.01)	0.00	(0.92)	0.00	0.00	3.00	(6.10)	29.40
LBRDA	1.67	(0.04)	(0.03)	0.00	2.49	(1.68)	2.94	(3.86)	21.18
CNSL	0.17	0.03	(0.13)	(0.37)	0.04	(0.31)	0.43	(0.43)	1.29
CABO	1.90	(0.11)	0.00	(0.14)	0.00	0.00	4.12	(3.42)	19.02
RADI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
KT	1.36	0.18	0.07	0.54	1.78	(1.53)	3.12	(2.62)	10.72

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