AudioCodes Correlations

AUDC Stock

USD 9.51 0.09 0.96%

The current 90-days correlation between AudioCodes and Allot Communications is 0.09 (i.e., Significant diversification). The correlation of AudioCodes 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.

AudioCodes Correlation With Market

Very weak diversification

The correlation between AudioCodes and DJI is 0.46 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AudioCodes and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with AudioCodes Stock

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

For information on how to trade AudioCodes Stock refer to our How to Trade AudioCodes Stock guide.

Moving against AudioCodes Stock

0.4	002935	Chengdu Spaceon Elec	Pair Corr
0.39	603712	TianJin 712 Communication	Pair Corr
0.36	603703	Zhejiang Shengyang	Pair Corr

Related Correlations Analysis

	ADTN	ALLT	AVNW	CAMT	CRNT	GILT	ITRN	NVMI	RDWR	TSEM
ADTN		0.22	0.6	-0.08	0.04	0.11	-0.41	0.15	0.26	0.29	ADTN
ALLT	0.22		0.27	0.75	0.66	0.85	-0.49	0.9	0.33	0.84	ALLT
AVNW	0.6	0.27		0.01	0.35	0.02	-0.18	0.26	0.56	0.13	AVNW
CAMT	-0.08	0.75	0.01		0.76	0.64	-0.07	0.84	0.47	0.54	CAMT
CRNT	0.04	0.66	0.35	0.76		0.31	-0.04	0.7	0.75	0.32	CRNT
GILT	0.11	0.85	0.02	0.64	0.31		-0.56	0.79	-0.04	0.94	GILT
ITRN	-0.41	-0.49	-0.18	-0.07	-0.04	-0.56		-0.26	0.11	-0.75	ITRN
NVMI	0.15	0.9	0.26	0.84	0.7	0.79	-0.26		0.39	0.73	NVMI
RDWR	0.26	0.33	0.56	0.47	0.75	-0.04	0.11	0.39		-0.02	RDWR
TSEM	0.29	0.84	0.13	0.54	0.32	0.94	-0.75	0.73	-0.02		TSEM
	ADTN	ALLT	AVNW	CAMT	CRNT	GILT	ITRN	NVMI	RDWR	TSEM

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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

TSEM	+ 0.94	GILT
NVMI	+ 0.9	ALLT
GILT	+ 0.85	ALLT
TSEM	+ 0.84	ALLT
NVMI	+ 0.84	CAMT
NVMI	+ 0.79	GILT

High negative correlations

TSEM	- 0.75	ITRN
ITRN	- 0.56	GILT
ITRN	- 0.49	ALLT
ITRN	- 0.41	ADTN
NVMI	- 0.26	ITRN
ITRN	- 0.18	AVNW

Risk-Adjusted Indicators

There is a big difference between AudioCodes Stock performing well and AudioCodes 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 AudioCodes' 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
ADTN	2.67	(0.17)	0.00	(0.01)	0.00	0.00	7.05	(4.71)	24.29
ALLT	2.70	0.00	0.02	0.05	3.29	(3.00)	5.26	(5.57)	14.37
AVNW	2.07	(0.29)	0.00	(0.04)	0.00	0.00	4.35	(4.66)	19.18
CAMT	2.59	0.41	0.11	0.32	3.41	(2.50)	5.15	(5.14)	17.85
CRNT	2.54	(0.12)	(0.01)	0.00	3.38	(3.12)	6.19	(4.60)	20.80
GILT	2.71	0.94	0.55	0.82	1.28	(3.94)	6.85	(2.65)	27.97
ITRN	1.53	(0.14)	0.00	(0.06)	0.00	0.00	3.26	(2.82)	13.52
NVMI	2.34	0.14	0.04	0.14	3.65	(2.15)	4.81	(5.47)	14.75
RDWR	1.53	(0.19)	0.00	(0.09)	0.00	0.00	2.37	(3.42)	7.91
TSEM	2.38	0.68	0.35	0.42	1.63	(3.01)	5.19	(3.26)	18.61

AudioCodes Corporate Executives

Elected by the shareholders, the AudioCodes' board of directors comprises two types of representatives: AudioCodes inside directors who are chosen from within the company, and outside directors, selected externally and held independent of AudioCodes. The board's role is to monitor AudioCodes' management team and ensure that shareholders' interests are well served. AudioCodes' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, AudioCodes' outside directors are responsible for providing unbiased perspectives on the board's policies.

	Niran CPA	CFO Finance	Profile
	Lior Aldema	COO and Head of Global Sales	Profile

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