Verizon Communications Correlations

VZ Stock

USD 47.02 0.71 1.53%

The current 90-days correlation between Verizon Communications and Walt Disney is 0.03 (i.e., Significant 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

Weak diversification

The correlation between Verizon Communications and DJI is 0.32 (i.e., Weak 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.

Build AI portfolio with Verizon Stock

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

0.83	T	ATT Inc Sell-off Trend	Pair Corr
0.94	VZ	Verizon Communications	Pair Corr

Moving against Verizon Stock

0.49	NU42	Ribbon Communications	Pair Corr
0.39	TLK	Telkom Indonesia Tbk	Pair Corr
0.33	IQ3	GMO Internet Earnings Call This Week	Pair Corr
0.54	ABB	Aussie Broadband	Pair Corr
0.41	BAND	Bandwidth	Pair Corr

Related Correlations Analysis

	DIS	TMUS	CMCSA	AMX	CHTR	VIV	TIMB	RCI
DIS		-0.44	0.41	-0.58	0.02	-0.29	-0.37	-0.37	DIS
TMUS	-0.44		-0.64	0.72	0.32	-0.16	-0.08	0.65	TMUS
CMCSA	0.41	-0.64		-0.61	0.17	0.5	0.28	-0.38	CMCSA
AMX	-0.58	0.72	-0.61		0.1	0.21	0.43	0.61	AMX
CHTR	0.02	0.32	0.17	0.1		0.07	0.0	-0.05	CHTR
VIV	-0.29	-0.16	0.5	0.21	0.07		0.92	0.12	VIV
TIMB	-0.37	-0.08	0.28	0.43	0.0	0.92		0.15	TIMB
RCI	-0.37	0.65	-0.38	0.61	-0.05	0.12	0.15		RCI
	DIS	TMUS	CMCSA	AMX	CHTR	VIV	TIMB	RCI

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

TIMB	+ 0.92	VIV
AMX	+ 0.72	TMUS
RCI	+ 0.65	TMUS
RCI	+ 0.61	AMX
VIV	+ 0.5	CMCSA
TIMB	+ 0.43	AMX

High negative correlations

CMCSA	- 0.64	TMUS
AMX	- 0.61	CMCSA
AMX	- 0.58	DIS
TMUS	- 0.44	DIS
RCI	- 0.38	CMCSA
RCI	- 0.37	DIS

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
DIS	1.34	(0.03)	0.00	(0.48)	0.00	0.00	2.41	(2.25)	10.07
TMUS	1.10	(0.06)	0.00	(0.72)	0.00	0.00	2.08	(2.28)	6.95
CMCSA	1.30	0.30	0.15	0.89	1.32	(1.40)	2.92	(2.41)	7.92
AMX	1.07	(0.02)	0.00	(0.11)	0.00	0.00	2.47	(3.16)	6.54
CHTR	1.76	0.02	0.02	0.10	2.20	(1.84)	4.26	(3.88)	9.83
VIV	1.47	0.33	0.13	1.06	1.83	(1.61)	3.13	(2.28)	11.53
TIMB	1.43	0.20	0.06	1.31	1.98	(1.40)	3.09	(2.87)	9.25
RCI	1.00	(0.02)	0.00	0.27	0.00	0.00	1.81	(1.97)	8.77

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