Clearfield Correlations

CLFD Stock

USD 30.08 0.64 2.08%

The current 90-days correlation between Clearfield and Telesat Corp is 0.31 (i.e., Weak diversification). The correlation of Clearfield 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.

Clearfield Correlation With Market

Poor diversification

The correlation between Clearfield and DJI is 0.63 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Clearfield and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Clearfield Stock

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

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

Moving together with Clearfield Stock

0.64	IDCC	InterDigital	Pair Corr
0.63	CVI	CVR Energy	Pair Corr
0.74	PATH	Uipath Inc	Pair Corr
0.82	UEC	Uranium Energy Corp	Pair Corr
0.76	PLG	Platinum Group Metals	Pair Corr
0.64	MSFT	Microsoft	Pair Corr

Moving against Clearfield Stock

0.58	VZ	Verizon Communications Sell-off Trend	Pair Corr
0.48	MCD	McDonalds	Pair Corr
0.48	T	ATT Inc Aggressive Push	Pair Corr
0.42	DIS	Walt Disney Sell-off Trend	Pair Corr
0.39	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	TSAT	CRNC	OSPN	VPG	BAND	TLS	LZMH	TSSI	FEIM	HCKT
TSAT		0.43	0.2	0.77	0.27	0.68	-0.69	0.65	0.75	-0.71	TSAT
CRNC	0.43		0.58	0.18	0.49	0.36	-0.22	0.61	0.35	-0.09	CRNC
OSPN	0.2	0.58		0.01	0.69	0.42	0.15	0.13	0.24	0.29	OSPN
VPG	0.77	0.18	0.01		0.39	0.68	-0.51	0.52	0.58	-0.75	VPG
BAND	0.27	0.49	0.69	0.39		0.62	0.0	0.31	0.13	-0.02	BAND
TLS	0.68	0.36	0.42	0.68	0.62		-0.4	0.58	0.55	-0.46	TLS
LZMH	-0.69	-0.22	0.15	-0.51	0.0	-0.4		-0.44	-0.33	0.72	LZMH
TSSI	0.65	0.61	0.13	0.52	0.31	0.58	-0.44		0.57	-0.52	TSSI
FEIM	0.75	0.35	0.24	0.58	0.13	0.55	-0.33	0.57		-0.48	FEIM
HCKT	-0.71	-0.09	0.29	-0.75	-0.02	-0.46	0.72	-0.52	-0.48		HCKT
	TSAT	CRNC	OSPN	VPG	BAND	TLS	LZMH	TSSI	FEIM	HCKT

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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

VPG	+ 0.77	TSAT
FEIM	+ 0.75	TSAT
HCKT	+ 0.72	LZMH
BAND	+ 0.69	OSPN
TLS	+ 0.68	TSAT
TLS	+ 0.68	VPG

High negative correlations

HCKT	- 0.75	VPG
HCKT	- 0.71	TSAT
LZMH	- 0.69	TSAT
HCKT	- 0.52	TSSI
LZMH	- 0.51	VPG
HCKT	- 0.48	FEIM

Risk-Adjusted Indicators

There is a big difference between Clearfield Stock performing well and Clearfield 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 Clearfield'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
TSAT	3.29	0.12	0.05	0.12	3.70	(3.89)	7.48	(6.81)	32.02
CRNC	3.78	(0.80)	0.00	(0.13)	0.00	0.00	7.12	(7.65)	28.23
OSPN	2.05	(0.11)	0.00	(0.01)	0.00	0.00	3.47	(3.71)	30.54
VPG	2.36	0.08	0.07	0.10	2.63	(2.85)	6.69	(5.86)	19.77
BAND	2.01	(0.10)	(0.01)	0.02	2.84	(2.01)	4.46	(4.47)	20.10
TLS	3.43	0.04	0.03	0.08	4.17	(4.00)	7.18	(5.63)	37.35
LZMH	1.85	(0.12)	0.00	0.72	0.00	0.00	5.90	(5.03)	15.08
TSSI	4.94	(1.02)	0.00	(0.17)	0.00	0.00	8.41	(9.72)	28.02
FEIM	3.85	(0.17)	(0.01)	0.01	5.23	(4.14)	7.94	(7.53)	27.67
HCKT	1.20	(0.23)	0.00	(0.09)	0.00	0.00	2.17	(2.31)	9.18

Clearfield Corporate Management

Anis Khemakhem	Chief Officer	Profile
Kevin Morgan	Chief Marketing Officer	Profile
Allen Griser	Executive Advisor	Profile
Bob Cody	Vice Management	Profile
Frank Brixius	General Secretary	Profile
Skip Hansen	Chief Officer	Profile
Daniel Herzog	Chief Officer	Profile

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