CommScope Holding Correlations

COMM Stock

USD 7.88 0.03 0.38%

The current 90-days correlation between CommScope Holding and Harmonic is 0.51 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as CommScope Holding moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if CommScope Holding Co moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

CommScope Holding Correlation With Market

Very weak diversification

The correlation between CommScope Holding Co and DJI is 0.59 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CommScope Holding Co and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with CommScope Stock

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

Moving together with CommScope Stock

0.91	LPL	LG Display Earnings Call This Week	Pair Corr
0.63	GILT	Gilat Satellite Networks	Pair Corr
0.95	LITE	Lumentum Holdings	Pair Corr
0.71	NTGR	NETGEAR Earnings Call This Week	Pair Corr
0.73	RGTIW	Rigetti Computing Trending	Pair Corr
0.76	QBTS	D Wave Quantum Aggressive Push	Pair Corr
0.88	QUBT	Quantum Computing Aggressive Push	Pair Corr
0.74	RGTI	Rigetti Computing Trending	Pair Corr
0.89	ADTN	ADTRAN Inc	Pair Corr
0.96	AVNW	Aviat Networks	Pair Corr
0.86	CRNT	Ceragon Networks	Pair Corr
0.97	CSCO	Cisco Systems	Pair Corr
0.94	VRRM	Verra Mobility Corp	Pair Corr
0.75	ENLV	Enlivex Therapeutics	Pair Corr
0.87	FRGE	Forge Global Holdings	Pair Corr
0.93	IBM	International Business Earnings Call This Week	Pair Corr
0.79	INTC	Intel Earnings Call This Week	Pair Corr
0.88	ITRN	Ituran Location	Pair Corr
0.82	MITK	Mitek Systems Earnings Call This Week	Pair Corr
0.81	ALLT	Allot Communications	Pair Corr
0.88	AMBA	Ambarella	Pair Corr
0.89	CAMT	Camtek	Pair Corr
0.61	GITS	Global Interactive Symbol Change	Pair Corr
0.84	PFE	Pfizer Inc	Pair Corr
0.96	CAT	Caterpillar	Pair Corr
0.97	AXP	American Express	Pair Corr
0.92	DIS	Walt Disney	Pair Corr
0.89	AA	Alcoa Corp	Pair Corr

Moving against CommScope Stock

0.52	QMCO	Quantum	Pair Corr
0.72	MCD	McDonalds	Pair Corr
0.53	KO	Coca Cola Earnings Call Tomorrow	Pair Corr
0.51	07274NBG7	BAYNGR 5 15	Pair Corr
0.48	PG	Procter Gamble	Pair Corr
0.36	VZ	Verizon Communications Earnings Call Today	Pair Corr

Related Correlations Analysis

	DZSI	HLIT	ADTN	CLFD	VIAV	MTSI	ATUS	CALX
DZSI		0.0	0.0	0.0	0.0	0.0	0.0	0.0	DZSI
HLIT	0.0		0.6	0.55	0.24	0.47	0.09	0.54	HLIT
ADTN	0.0	0.6		0.79	0.45	0.78	0.2	0.81	ADTN
CLFD	0.0	0.55	0.79		0.0	0.97	-0.11	0.97	CLFD
VIAV	0.0	0.24	0.45	0.0		0.03	0.14	0.06	VIAV
MTSI	0.0	0.47	0.78	0.97	0.03		-0.13	0.96	MTSI
ATUS	0.0	0.09	0.2	-0.11	0.14	-0.13		-0.07	ATUS
CALX	0.0	0.54	0.81	0.97	0.06	0.96	-0.07		CALX
	DZSI	HLIT	ADTN	CLFD	VIAV	MTSI	ATUS	CALX

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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

MTSI	+ 0.97	CLFD
CALX	+ 0.97	CLFD
CALX	+ 0.96	MTSI
CALX	+ 0.81	ADTN
CLFD	+ 0.79	ADTN
MTSI	+ 0.78	ADTN

High negative correlations

ATUS	- 0.13	MTSI
ATUS	- 0.11	CLFD
CALX	- 0.07	ATUS
VIAV	- 0.0	CLFD
CALX	- 0.0	DZSI
ATUS	- 0.0	DZSI

Risk-Adjusted Indicators

There is a big difference between CommScope Stock performing well and CommScope Holding 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 CommScope Holding'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
DZSI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HLIT	1.68	(0.12)	(0.02)	0.05	2.58	(1.70)	3.67	(4.28)	16.68
ADTN	2.08	0.16	0.10	0.24	1.98	(2.50)	5.11	(3.36)	12.57
CLFD	1.68	0.59	0.41	0.61	0.80	(2.01)	4.50	(2.04)	11.21
VIAV	1.14	(0.06)	(0.04)	0.05	2.60	(1.06)	2.34	(2.01)	15.40
MTSI	1.43	0.42	0.23	0.54	1.16	(1.56)	4.74	(2.27)	9.83
ATUS	2.90	0.10	0.03	0.21	4.38	(2.86)	5.14	(6.58)	19.23
CALX	1.33	0.53	0.48	0.53	0.51	(1.71)	3.16	(1.83)	15.10

CommScope Holding Corporate Management

Farid Firouzbakht	Senior Networks	Profile
Steven Bronken	Head Networks	Profile
Bartolomeo Giordano	Intelligent Networking	Profile
Jennifer CPA	Senior Officer	Profile
Upendra Pingle	Senior Networks	Profile
Gonzaga Chow	VP Networks	Profile
Koen Linde	Senior Solutions	Profile

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