Telephone Correlations

TDS Stock

USD 39.50 1.13 2.95%

The current 90-days correlation between Telephone and Data and Telephone and Data is 0.1 (i.e., Average diversification). The correlation of Telephone 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.

Telephone Correlation With Market

Weak diversification

The correlation between Telephone and Data and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Telephone and Data 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 Telephone and Data. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with Telephone Stock

0.75	T	ATT Inc Aggressive Push	Pair Corr
0.79	WB	Weibo Corp	Pair Corr
0.86	YY	YY Inc Class	Pair Corr
0.81	DOYU	DouYu International	Pair Corr
0.64	VEON	VEON	Pair Corr

Moving against Telephone Stock

0.75	LUMN	Lumen Technologies	Pair Corr
0.68	EA	Electronic Arts	Pair Corr
0.57	BCE	BCE Inc	Pair Corr
0.36	LBTYA	Liberty Global PLC	Pair Corr
0.34	TLK	Telkom Indonesia Tbk	Pair Corr
0.31	SKM	SK Telecom	Pair Corr
0.65	CCO	Clear Channel Outdoor	Pair Corr
0.64	AMC	AMC Entertainment Aggressive Push	Pair Corr
0.62	ADD	Color Star Technology	Pair Corr
0.6	ANGHW	Anghami Warrants	Pair Corr
0.55	FNGR	FingerMotion	Pair Corr
0.49	DLPN	Dolphin Entertainment	Pair Corr
0.46	ADV	Advantage Solutions	Pair Corr
0.37	FENG	Phoenix New Media	Pair Corr
0.34	GDEVW	Nexters Warrant	Pair Corr

Related Correlations Analysis

	TDS-PV	SHEN	WOW	ATNI	TEF	ORAN	VZ	LUMN	CMCSA
TDS-PV		-0.5	-0.17	0.06	-0.01	0.0	0.13	0.13	-0.01	TDS-PV
SHEN	-0.5		0.83	0.7	0.61	0.0	0.52	0.61	0.75	SHEN
WOW	-0.17	0.83		0.91	0.62	0.0	0.54	0.91	0.92	WOW
ATNI	0.06	0.7	0.91		0.78	0.0	0.71	0.86	0.88	ATNI
TEF	-0.01	0.61	0.62	0.78		0.0	0.83	0.47	0.57	TEF
ORAN	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	ORAN
VZ	0.13	0.52	0.54	0.71	0.83	0.0		0.42	0.6	VZ
LUMN	0.13	0.61	0.91	0.86	0.47	0.0	0.42		0.9	LUMN
CMCSA	-0.01	0.75	0.92	0.88	0.57	0.0	0.6	0.9		CMCSA
	TDS-PV	SHEN	WOW	ATNI	TEF	ORAN	VZ	LUMN	CMCSA

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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

CMCSA	+ 0.92	WOW
ATNI	+ 0.91	WOW
LUMN	+ 0.91	WOW
CMCSA	+ 0.9	LUMN
CMCSA	+ 0.88	ATNI
LUMN	+ 0.86	ATNI

High negative correlations

SHEN	- 0.5	TDS-PV
WOW	- 0.17	TDS-PV
CMCSA	- 0.01	TDS-PV
TEF	- 0.01	TDS-PV
CMCSA	- 0.0	ORAN
LUMN	- 0.0	ORAN

Risk-Adjusted Indicators

There is a big difference between Telephone Stock performing well and Telephone 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 Telephone'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
TDS-PV	0.78	(0.08)	0.00	(0.12)	0.00	0.00	2.39	(1.69)	6.99
SHEN	1.80	(0.12)	0.00	(0.14)	0.00	0.00	3.68	(4.38)	11.27
WOW	1.46	(0.32)	0.00	(0.64)	0.00	0.00	2.52	(2.90)	7.37
ATNI	1.82	(0.28)	0.00	(0.23)	0.00	0.00	3.10	(3.51)	11.34
TEF	0.92	(0.01)	0.00	(0.03)	0.00	0.00	1.95	(1.90)	5.02
ORAN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
VZ	0.76	0.04	0.04	0.09	1.01	(0.83)	1.81	(1.75)	5.21
LUMN	2.61	(1.05)	0.00	(1.76)	0.00	0.00	4.93	(4.80)	24.24
CMCSA	1.21	(0.30)	0.00	(0.70)	0.00	0.00	1.57	(2.44)	13.18

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