Belden Correlations

BDC Stock

USD 112.13 1.52 1.37%

The current 90-days correlation between Belden Inc and Stewart Information Services is 0.33 (i.e., Weak diversification). The correlation of Belden 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.

Belden Correlation With Market

Very weak diversification

The correlation between Belden Inc and DJI is 0.53 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Belden Inc and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Belden Stock

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

Moving together with Belden Stock

0.73	ACSO	Accesso Technology	Pair Corr
0.81	PG	Procter Gamble	Pair Corr
0.71	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.62	VZ	Verizon Communications	Pair Corr
0.67	HPQ	HP Inc Earnings Call Tomorrow	Pair Corr
0.66	BA	Boeing	Pair Corr

Moving against Belden Stock

0.66	LST	Light Science Techno	Pair Corr
0.62	TFPM	Triple Flag Precious	Pair Corr
0.59	GGB	Gerdau SA ADR	Pair Corr
0.58	SNT	Sabien Technology	Pair Corr
0.52	PTAIY	Astra International Tbk	Pair Corr
0.43	RGRLF	Star Phoenix Group	Pair Corr
0.42	PUTKY	United Tractors Tbk	Pair Corr
0.41	PTAIF	PT Astra International	Pair Corr
0.38	PHJMF	PT Hanjaya Mandala	Pair Corr
0.35	FR	First Industrial Realty	Pair Corr
0.93	JNJ	Johnson Johnson	Pair Corr
0.74	AA	Alcoa Corp	Pair Corr
0.72	INTC	Intel Aggressive Push	Pair Corr
0.72	IBM	International Business	Pair Corr
0.71	CSCO	Cisco Systems	Pair Corr
0.7	MRK	Merck Company Aggressive Push	Pair Corr
0.54	GE	GE Aerospace	Pair Corr
0.53	DD	Dupont De Nemours	Pair Corr
0.48	XOM	Exxon Mobil Corp	Pair Corr
0.38	KO	Coca Cola Aggressive Push	Pair Corr

Related Correlations Analysis

	ZIJMF	STC	BZH	SNCY	PENN	NXPI	SIGI
ZIJMF		-0.39	-0.57	-0.67	-0.51	-0.49	0.32	ZIJMF
STC	-0.39		0.44	0.46	0.29	0.17	-0.24	STC
BZH	-0.57	0.44		0.54	0.93	0.85	0.03	BZH
SNCY	-0.67	0.46	0.54		0.41	0.31	-0.3	SNCY
PENN	-0.51	0.29	0.93	0.41		0.89	0.09	PENN
NXPI	-0.49	0.17	0.85	0.31	0.89		0.23	NXPI
SIGI	0.32	-0.24	0.03	-0.3	0.09	0.23		SIGI
	ZIJMF	STC	BZH	SNCY	PENN	NXPI	SIGI

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

PENN	+ 0.93	BZH
NXPI	+ 0.89	PENN
NXPI	+ 0.85	BZH
SNCY	+ 0.54	BZH
SNCY	+ 0.46	STC
BZH	+ 0.44	STC

High negative correlations

SNCY	- 0.67	ZIJMF
BZH	- 0.57	ZIJMF
PENN	- 0.51	ZIJMF
NXPI	- 0.49	ZIJMF
STC	- 0.39	ZIJMF
SIGI	- 0.3	SNCY

Risk-Adjusted Indicators

There is a big difference between Belden Stock performing well and Belden 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 Belden'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
ZIJMF	2.87	0.49	0.12	1.03	3.37	(3.21)	7.06	(4.96)	16.38
STC	1.40	0.04	0.02	0.07	1.64	(1.61)	2.92	(3.17)	9.26
BZH	1.54	(0.34)	0.00	(0.21)	0.00	0.00	2.62	(3.19)	13.51
SNCY	2.47	0.01	0.01	0.03	2.69	(2.86)	5.53	(4.39)	13.97
PENN	1.91	(0.46)	0.00	(1.14)	0.00	0.00	3.08	(4.27)	15.07
NXPI	1.52	(0.32)	0.00	(0.16)	0.00	0.00	2.76	(3.87)	10.01
SIGI	1.19	0.01	(0.01)	0.20	1.78	(1.08)	2.19	(2.41)	8.71

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