SBC Communications Correlations

SBC Stock

7.27 0.52 6.68%

The current 90-days correlation between SBC Communications and Balchem is -0.1 (i.e., Good diversification). The correlation of SBC Communications 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.

SBC Communications Correlation With Market

Good diversification

The correlation between SBC Communications and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SBC Communications and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in SBC Communications. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

For information on how to trade SBC Stock refer to our How to Trade SBC Stock guide.

Moving together with SBC Stock

0.61	CI	Cigna Corp	Pair Corr
0.74	ELAB	Elevai Labs, Common	Pair Corr
0.62	AMN	AMN Healthcare Services	Pair Corr

Moving against SBC Stock

0.71	ELMD	Electromed	Pair Corr
0.62	ECOR	Electrocore LLC	Pair Corr
0.57	DOCS	Doximity Sell-off Trend	Pair Corr
0.56	MD	Mednax Inc	Pair Corr
0.41	OM	Outset Medical	Pair Corr
0.41	VREX	Varex Imaging Corp	Pair Corr
0.68	BSX	Boston Scientific Corp	Pair Corr
0.63	BVS	Bioventus	Pair Corr
0.36	FOXO	FOXO Technologies	Pair Corr
0.35	CAH	Cardinal Health	Pair Corr
0.32	ABT	Abbott Laboratories Fiscal Year End 22nd of January 2025	Pair Corr
0.32	AMS	American Shared Hospital	Pair Corr

Related Correlations Analysis

	BCPC	ECL	AKAN	LNSR	ALB-PA	TFX	MOS	EMN
BCPC		-0.36	-0.4	0.58	0.49	-0.6	0.06	0.03	BCPC
ECL	-0.36		0.4	-0.39	-0.13	0.58	-0.1	0.68	ECL
AKAN	-0.4	0.4		-0.87	-0.73	0.89	-0.05	0.17	AKAN
LNSR	0.58	-0.39	-0.87		0.75	-0.93	0.0	-0.25	LNSR
ALB-PA	0.49	-0.13	-0.73	0.75		-0.76	0.05	0.26	ALB-PA
TFX	-0.6	0.58	0.89	-0.93	-0.76		-0.05	0.27	TFX
MOS	0.06	-0.1	-0.05	0.0	0.05	-0.05		-0.13	MOS
EMN	0.03	0.68	0.17	-0.25	0.26	0.27	-0.13		EMN
	BCPC	ECL	AKAN	LNSR	ALB-PA	TFX	MOS	EMN

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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

TFX	+ 0.89	AKAN
ALB-PA	+ 0.75	LNSR
EMN	+ 0.68	ECL
LNSR	+ 0.58	BCPC
TFX	+ 0.58	ECL
ALB-PA	+ 0.49	BCPC

High negative correlations

TFX	- 0.93	LNSR
LNSR	- 0.87	AKAN
TFX	- 0.76	ALB-PA
ALB-PA	- 0.73	AKAN
TFX	- 0.6	BCPC
AKAN	- 0.4	BCPC

Risk-Adjusted Indicators

There is a big difference between SBC Stock performing well and SBC Communications 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 SBC Communications' 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
BCPC	1.07	0.07	(0.03)	1.48	1.28	(1.19)	2.54	(1.99)	8.32
ECL	0.73	(0.07)	(0.13)	(0.02)	0.96	(0.69)	1.43	(1.11)	4.42
AKAN	3.62	(0.72)	0.00	(0.34)	0.00	0.00	8.00	(7.22)	22.55
LNSR	3.34	0.83	0.17	2.28	3.78	(3.80)	8.92	(5.53)	22.69
ALB-PA	2.14	0.12	0.06	0.22	2.30	(2.54)	5.63	(4.53)	15.73
TFX	1.18	(0.42)	0.00	(0.41)	0.00	0.00	1.71	(1.92)	17.00
MOS	1.73	(0.22)	0.00	(0.22)	0.00	0.00	4.43	(3.92)	13.10
EMN	1.10	(0.04)	(0.04)	0.07	1.29	(1.17)	2.78	(2.02)	7.31

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