Synnex Correlations

SNX Stock

USD 156.81 1.66 1.05%

The current 90-days correlation between Synnex and CACI International is 0.23 (i.e., Modest diversification). The correlation of Synnex 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.

Synnex Correlation With Market

Poor diversification

The correlation between Synnex and DJI is 0.61 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Synnex and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Synnex Stock

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

For more information on how to buy Synnex Stock please use our How to Invest in Synnex guide.

Moving together with Synnex Stock

0.69	KN	Knowles Cor	Pair Corr
0.71	LFS	Littelfuse	Pair Corr
0.71	PX4	Plexus Corp	Pair Corr
0.7	PJJ1	CHINA DISPLAY OTHHD	Pair Corr
0.68	SATLW	Satellogic Warrant	Pair Corr
0.69	MKT	MKS Instruments	Pair Corr
0.8	VNI	Avnet Inc	Pair Corr
0.68	BRV	Brady	Pair Corr
0.63	H7B	COHERENT CORP	Pair Corr

Moving against Synnex Stock

0.71	EBON	Ebang International	Pair Corr
0.48	KE	Kimball Electronics	Pair Corr
0.63	EVLV	Evolv Technologies	Pair Corr
0.6	OTK	Otsuka	Pair Corr
0.53	EHGO	Eshallgo Class A	Pair Corr
0.56	WRAP	Wrap Technologies	Pair Corr
0.55	GEG	GEO Group	Pair Corr
0.49	SC3	ScanSource	Pair Corr
0.4	FCUV	Focus Universal	Pair Corr

Related Correlations Analysis

	CACI	JKHY	ZBRA	FFIV	QXO	KSPI	RGTI	SWKS	BILI	SAIL
CACI		0.01	-0.21	0.09	0.07	-0.06	0.01	-0.45	0.67	-0.38	CACI
JKHY	0.01		0.25	-0.18	-0.24	0.77	0.72	0.13	-0.17	0.77	JKHY
ZBRA	-0.21	0.25		-0.19	0.07	0.16	0.36	0.56	-0.29	0.47	ZBRA
FFIV	0.09	-0.18	-0.19		0.78	0.06	-0.62	-0.63	0.65	-0.52	FFIV
QXO	0.07	-0.24	0.07	0.78		0.03	-0.5	-0.5	0.62	-0.45	QXO
KSPI	-0.06	0.77	0.16	0.06	0.03		0.48	-0.04	0.01	0.58	KSPI
RGTI	0.01	0.72	0.36	-0.62	-0.5	0.48		0.5	-0.45	0.83	RGTI
SWKS	-0.45	0.13	0.56	-0.63	-0.5	-0.04	0.5		-0.82	0.59	SWKS
BILI	0.67	-0.17	-0.29	0.65	0.62	0.01	-0.45	-0.82		-0.62	BILI
SAIL	-0.38	0.77	0.47	-0.52	-0.45	0.58	0.83	0.59	-0.62		SAIL
	CACI	JKHY	ZBRA	FFIV	QXO	KSPI	RGTI	SWKS	BILI	SAIL

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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

SAIL	+ 0.83	RGTI
QXO	+ 0.78	FFIV
KSPI	+ 0.77	JKHY
SAIL	+ 0.77	JKHY
RGTI	+ 0.72	JKHY
BILI	+ 0.67	CACI

High negative correlations

BILI	- 0.82	SWKS
SWKS	- 0.63	FFIV
SAIL	- 0.62	BILI
RGTI	- 0.62	FFIV
SAIL	- 0.52	FFIV
SWKS	- 0.5	QXO

Risk-Adjusted Indicators

There is a big difference between Synnex Stock performing well and Synnex 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 Synnex'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
CACI	1.59	(0.02)	(0.02)	0.05	2.02	(1.80)	3.62	(2.40)	14.27
JKHY	1.21	(0.12)	0.00	(0.09)	0.00	0.00	2.39	(2.26)	9.90
ZBRA	1.93	(0.25)	0.00	(0.04)	0.00	0.00	3.11	(4.13)	18.01
FFIV	1.51	0.11	0.07	0.15	1.84	(1.57)	3.94	(3.18)	15.39
QXO	2.88	0.38	0.18	0.21	2.64	(3.74)	5.46	(4.21)	27.19
KSPI	1.43	(0.08)	(0.05)	0.00	1.56	(1.63)	3.48	(2.58)	9.17
RGTI	4.77	(0.52)	0.00	(0.09)	0.00	0.00	12.63	(8.76)	28.29
SWKS	1.52	(0.14)	0.00	(0.03)	0.00	0.00	2.87	(4.47)	13.39
BILI	2.30	0.11	0.06	0.16	2.42	(2.84)	6.51	(4.21)	15.75
SAIL	2.54	(0.50)	0.00	(0.24)	0.00	0.00	4.02	(6.81)	15.18

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