Verizon Communications Correlations

VZ Stock

USD 38.78 0.44 1.15%

The current 90-days correlation between Verizon Communications and T Mobile is 0.22 (i.e., Modest diversification). The correlation of Verizon 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Verizon Communications Correlation With Market

Modest diversification

The correlation between Verizon Communications and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Verizon 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 Verizon 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 nation.

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

Moving together with Verizon Stock

0.76	TU	Telus Corp	Pair Corr
0.61	AMX	America Movil SAB	Pair Corr
0.69	FNGR	FingerMotion	Pair Corr
0.65	CHT	Chunghwa Telecom	Pair Corr
0.77	RCI	Rogers Communications	Pair Corr
0.84	SKM	SK Telecom	Pair Corr
0.77	TEF	Telefonica SA ADR	Pair Corr
0.61	VIV	Telefonica Brasil	Pair Corr
0.66	VOD	Vodafone Group PLC	Pair Corr
0.71	ATEX	Anterix Upward Rally	Pair Corr

Moving against Verizon Stock

0.76	VEON	VEON	Pair Corr
0.37	TDS	Telephone and Data	Pair Corr
0.34	TBB	ATT Inc Earnings Call This Week	Pair Corr
0.46	TKC	Turkcell Iletisim	Pair Corr
0.41	UCL	Ucloudlink Group	Pair Corr
0.37	GSAT	Globalstar	Pair Corr

Related Correlations Analysis

	TMUS	LUMN	DISH	CMCSA	T	CHTR	VOD
TMUS		0.65	-0.23	0.67	0.63	0.81	0.12	TMUS
LUMN	0.65		-0.22	0.81	0.04	0.67	0.24	LUMN
DISH	-0.23	-0.22		-0.09	-0.4	-0.43	0.21	DISH
CMCSA	0.67	0.81	-0.09		0.0	0.48	0.59	CMCSA
T	0.63	0.04	-0.4	0.0		0.62	-0.34	T
CHTR	0.81	0.67	-0.43	0.48	0.62		-0.2	CHTR
VOD	0.12	0.24	0.21	0.59	-0.34	-0.2		VOD
	TMUS	LUMN	DISH	CMCSA	T	CHTR	VOD

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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

CHTR	+ 0.81	TMUS
CMCSA	+ 0.81	LUMN
CMCSA	+ 0.67	TMUS
CHTR	+ 0.67	LUMN
LUMN	+ 0.65	TMUS
T	+ 0.63	TMUS

High negative correlations

CHTR	- 0.43	DISH
T	- 0.4	DISH
VOD	- 0.34	T
DISH	- 0.23	TMUS
DISH	- 0.22	LUMN
VOD	- 0.2	CHTR

Risk-Adjusted Indicators

There is a big difference between Verizon Stock performing well and Verizon 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 Verizon 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
TMUS	1.04	0.03	0.02	0.06	1.77	(0.92)	2.03	(3.07)	11.83
LUMN	3.29	(0.09)	0.00	(0.12)	0.00	0.00	8.19	(4.80)	27.32
DISH	3.42	0.08	0.02	(0.37)	4.14	(3.98)	6.90	(6.81)	28.09
CMCSA	1.12	(0.17)	0.00	(1.11)	0.00	0.00	2.18	(2.44)	15.55
T	0.96	0.06	0.06	0.17	1.12	(1.04)	1.91	(1.84)	7.96
CHTR	1.72	0.12	0.05	0.42	2.21	(2.02)	3.63	(3.44)	21.07
VOD	1.09	(0.16)	0.00	(0.67)	0.00	0.00	2.13	(2.55)	11.18

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