Roku Correlations

ROKU Stock

USD 69.20 0.52 0.76%

The current 90-days correlation between Roku Inc and Belden Inc is 0.34 (i.e., Weak diversification). The correlation of Roku 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.

Roku Correlation With Market

Weak diversification

The correlation between Roku Inc and DJI is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Roku 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 Roku 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 industry.

Moving against Roku Stock

0.37	DOYU	DouYu International	Pair Corr
0.53	AMC	AMC Entertainment Aggressive Push	Pair Corr
0.49	NPSNY	Naspers Ltd ADR Earnings Call This Week	Pair Corr
0.45	BATRA	Atlanta Braves Holdings,	Pair Corr
0.45	BATRK	Atlanta Braves Holdings,	Pair Corr
0.38	ADV	Advantage Solutions	Pair Corr

Related Correlations Analysis

	ADTN	BDC	ADCT	CMTL	CTS
ADTN		0.73	-0.57	-0.35	0.84	ADTN
BDC	0.73		-0.07	0.14	0.72	BDC
ADCT	-0.57	-0.07		0.41	-0.32	ADCT
CMTL	-0.35	0.14	0.41		-0.5	CMTL
CTS	0.84	0.72	-0.32	-0.5		CTS
	ADTN	BDC	ADCT	CMTL	CTS

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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

CTS	+ 0.84	ADTN
BDC	+ 0.73	ADTN
CTS	+ 0.72	BDC
CMTL	+ 0.41	ADCT
CMTL	+ 0.14	BDC

High negative correlations

ADCT	- 0.57	ADTN
CTS	- 0.5	CMTL
CMTL	- 0.35	ADTN
CTS	- 0.32	ADCT
ADCT	- 0.07	BDC

Risk-Adjusted Indicators

There is a big difference between Roku Stock performing well and Roku 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 Roku'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	2.41	0.58	0.32	0.46	1.59	(2.98)	6.31	(3.34)	22.03
BDC	1.43	0.00	0.08	0.12	1.57	(1.58)	2.85	(2.64)	13.52
ADCT	3.51	(0.74)	0.00	(0.17)	0.00	0.00	6.98	(7.81)	22.87
CMTL	4.44	0.03	0.02	0.14	6.36	(4.96)	12.63	(7.40)	40.77
CTS	1.56	(0.07)	0.05	0.09	1.65	(1.78)	3.28	(2.79)	15.09

Roku Corporate Management

Matthew Banks	Corporate VP	Profile
Kamilah MitchellThomas	VP People	Profile
Stephen JD	Executive Officer	Profile
Gilbert Fuchsberg	Partnerships Subscriptions	Profile
Ilya Asnis	Senior OS	Profile

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