Ooma Correlations

OOMA Stock

USD 14.21 0.41 2.97%

The current 90-days correlation between Ooma Inc and Shenandoah Telecommunications Co is 0.14 (i.e., Average 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 0.19 (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

0.9	T	ATT Inc Aggressive Push	Pair Corr
0.74	LUMN	Lumen Technologies	Pair Corr
0.89	TMUS	T Mobile Fiscal Year End 23rd of January 2025	Pair Corr
0.76	Z	Zillow Group Class	Pair Corr
0.73	DJCO	Daily Journal Corp	Pair Corr
0.67	EA	Electronic Arts	Pair Corr
0.67	KT	KT Corporation	Pair Corr
0.79	SE	Sea	Pair Corr
0.63	ZD	Ziff Davis	Pair Corr
0.75	ZG	Zillow Group	Pair Corr
0.81	VEON	VEON	Pair Corr

Moving against Ooma Stock

0.79	TC	TuanChe ADR	Pair Corr
0.7	VOD	Vodafone Group PLC	Pair Corr
0.58	FNGR	FingerMotion	Pair Corr
0.48	TU	Telus Corp	Pair Corr
0.81	BCE	BCE Inc	Pair Corr
0.69	EVER	EverQuote Class A	Pair Corr
0.68	AMX	America Movil SAB	Pair Corr
0.64	BATRA	Atlanta Braves Holdings,	Pair Corr
0.61	FENG	Phoenix New Media	Pair Corr
0.59	DLPN	Dolphin Entertainment	Pair Corr
0.56	ADD	Color Star Technology	Pair Corr
0.53	DRCT	Direct Digital Holdings	Pair Corr
0.53	AMC	AMC Entertainment Aggressive Push	Pair Corr
0.52	BATRK	Atlanta Braves Holdings,	Pair Corr
0.45	DOYU	DouYu International	Pair Corr
0.45	ADV	Advantage Solutions	Pair Corr

Related Correlations Analysis

	SHEN	ATEX	LBRDP	IDT	ATNI	LBRDA	CNSL	CABO	RADI	KT
SHEN		0.59	-0.38	-0.57	0.25	-0.65	-0.4	-0.37	-0.61	-0.16	SHEN
ATEX	0.59		-0.06	-0.81	0.25	-0.66	-0.31	-0.35	-0.75	-0.32	ATEX
LBRDP	-0.38	-0.06		0.24	0.19	0.46	0.73	0.03	0.44	0.4	LBRDP
IDT	-0.57	-0.81	0.24		-0.47	0.84	0.59	0.67	0.9	0.57	IDT
ATNI	0.25	0.25	0.19	-0.47		-0.4	0.01	-0.74	-0.34	-0.23	ATNI
LBRDA	-0.65	-0.66	0.46	0.84	-0.4		0.75	0.65	0.89	0.52	LBRDA
CNSL	-0.4	-0.31	0.73	0.59	0.01	0.75		0.26	0.72	0.59	CNSL
CABO	-0.37	-0.35	0.03	0.67	-0.74	0.65	0.26		0.54	0.36	CABO
RADI	-0.61	-0.75	0.44	0.9	-0.34	0.89	0.72	0.54		0.65	RADI
KT	-0.16	-0.32	0.4	0.57	-0.23	0.52	0.59	0.36	0.65		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

RADI	+ 0.9	IDT
RADI	+ 0.89	LBRDA
LBRDA	+ 0.84	IDT
CNSL	+ 0.75	LBRDA
CNSL	+ 0.73	LBRDP
RADI	+ 0.72	CNSL

High negative correlations

IDT	- 0.81	ATEX
RADI	- 0.75	ATEX
CABO	- 0.74	ATNI
LBRDA	- 0.66	ATEX
LBRDA	- 0.65	SHEN
RADI	- 0.61	SHEN

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	2.46	(0.21)	0.00	(0.04)	0.00	0.00	5.32	(3.94)	25.16
ATEX	1.58	(0.20)	0.00	(0.36)	0.00	0.00	3.31	(4.08)	12.42
LBRDP	0.47	0.05	(0.10)	2.70	0.55	(0.55)	1.18	(1.07)	3.58
IDT	1.43	0.32	0.28	0.31	0.94	(1.75)	2.37	(2.30)	24.20
ATNI	2.38	(0.58)	0.00	(0.09)	0.00	0.00	4.14	(4.87)	31.68
LBRDA	2.17	0.47	0.27	0.44	1.49	(2.72)	4.70	(3.19)	33.07
CNSL	0.20	0.00	(0.27)	0.13	0.18	(0.32)	0.44	(0.43)	1.74
CABO	2.07	0.15	0.09	0.20	2.34	(2.25)	4.42	(4.54)	18.76
RADI	0.10	0.01	(0.95)	0.54	0.00	(0.14)	0.27	(0.14)	0.61
KT	1.23	0.16	0.05	0.47	1.62	(1.37)	3.58	(2.09)	11.99

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