Arrow Electronics Correlations

ARW Stock

USD 132.17 0.23 0.17%

The current 90-days correlation between Arrow Electronics and Magnite is 0.69 (i.e., Poor diversification). The correlation of Arrow Electronics 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.

Arrow Electronics Correlation With Market

Very poor diversification

The correlation between Arrow Electronics and DJI is 0.82 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Arrow Electronics and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Arrow Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Arrow Electronics. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

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

Moving together with Arrow Stock

0.94	AVT	Avnet Inc	Pair Corr
0.93	IZM	ICZOOM Group Class	Pair Corr
0.97	SNX	Synnex	Pair Corr
0.94	INGM	Ingram Micro Holding	Pair Corr
0.93	SCSC	ScanSource	Pair Corr
0.75	CNXN	PC Connection	Pair Corr
0.85	U	Unity Software Aggressive Push	Pair Corr
0.9	DIOD	Diodes Incorporated	Pair Corr
0.86	AI	C3 Ai Inc Sell-off Trend	Pair Corr
0.91	BB	BlackBerry	Pair Corr
0.9	BL	Blackline	Pair Corr
0.92	DT	Dynatrace Holdings LLC Buyout Trend	Pair Corr
0.91	DV	DoubleVerify Holdings	Pair Corr
0.89	FN	Fabrinet	Pair Corr
0.79	GB	Global Blue Group	Pair Corr
0.68	JG	Aurora Mobile	Pair Corr
0.94	KD	Kyndryl Holdings	Pair Corr
0.91	KE	Kimball Electronics	Pair Corr
0.98	KN	Knowles Cor	Pair Corr
0.61	MI	NFT Limited	Pair Corr
0.88	MQ	Marqeta	Pair Corr
0.88	MU	Micron Technology	Pair Corr
0.86	MX	MagnaChip Semiconductor	Pair Corr
0.68	NN	Nextnav Acquisition Corp	Pair Corr
0.89	ON	ON Semiconductor	Pair Corr
0.88	PI	Impinj Inc	Pair Corr
0.88	UI	Ubiquiti Networks	Pair Corr

Moving against Arrow Stock

0.82	CIIT	Tianci International,	Pair Corr
0.79	FI	Fiserv,	Pair Corr
0.69	QH	Quhuo	Pair Corr

Related Correlations Analysis

	EVMNY	LOMLF	EVC	USGO	MGNI	QNST	PIUTQ	TSQ
EVMNY		0.43	0.69	-0.18	0.66	-0.48	0.0	0.13	EVMNY
LOMLF	0.43		0.33	0.28	0.3	-0.14	0.0	0.12	LOMLF
EVC	0.69	0.33		-0.47	0.81	-0.14	0.0	0.73	EVC
USGO	-0.18	0.28	-0.47		-0.44	0.01	0.0	-0.48	USGO
MGNI	0.66	0.3	0.81	-0.44		-0.28	0.0	0.55	MGNI
QNST	-0.48	-0.14	-0.14	0.01	-0.28		0.0	0.09	QNST
PIUTQ	0.0	0.0	0.0	0.0	0.0	0.0		0.0	PIUTQ
TSQ	0.13	0.12	0.73	-0.48	0.55	0.09	0.0		TSQ
	EVMNY	LOMLF	EVC	USGO	MGNI	QNST	PIUTQ	TSQ

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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

MGNI	+ 0.81	EVC
TSQ	+ 0.73	EVC
EVC	+ 0.69	EVMNY
MGNI	+ 0.66	EVMNY
TSQ	+ 0.55	MGNI
LOMLF	+ 0.43	EVMNY

High negative correlations

TSQ	- 0.48	USGO
QNST	- 0.48	EVMNY
USGO	- 0.47	EVC
MGNI	- 0.44	USGO
QNST	- 0.28	MGNI
USGO	- 0.18	EVMNY

Risk-Adjusted Indicators

There is a big difference between Arrow Stock performing well and Arrow Electronics 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 Arrow Electronics' 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
EVMNY	2.73	0.76	0.07	(1.05)	2.68	(13.49)	9.28	(5.12)	51.67
LOMLF	2.63	(0.04)	(0.01)	0.07	3.06	(5.87)	5.56	(4.76)	19.62
EVC	2.40	0.22	0.07	0.34	2.62	(3.05)	6.40	(4.95)	17.45
USGO	2.87	(0.22)	0.00	(0.25)	0.00	0.00	6.17	(4.87)	19.31
MGNI	3.25	1.09	0.27	0.64	3.25	(3.94)	12.42	(4.28)	30.59
QNST	2.28	(0.19)	0.00	(0.06)	0.00	0.00	4.47	(4.83)	23.01
PIUTQ	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TSQ	1.80	(0.01)	(0.01)	0.09	2.60	(1.66)	3.23	(3.64)	10.08

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