Digi International Correlations

DGII Stock

USD 33.09 0.49 1.46%

The current 90-days correlation between Digi International and Clearfield is 0.5 (i.e., Very weak diversification). The correlation of Digi International 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.

Digi International Correlation With Market

Very weak diversification

The correlation between Digi International and DJI is 0.42 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Digi International and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Digi Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Digi International. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

For more detail on how to invest in Digi Stock please use our How to Invest in Digi International guide.

Moving together with Digi Stock

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0.92	AVNW	Aviat Networks	Pair Corr
0.82	CRNT	Ceragon Networks	Pair Corr
0.89	CSCO	Cisco Systems	Pair Corr
0.94	VRRM	Verra Mobility Corp	Pair Corr
0.81	FRGE	Forge Global Holdings	Pair Corr
0.88	IBM	International Business Earnings Call This Week	Pair Corr
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0.82	ITRN	Ituran Location	Pair Corr
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0.68	CAMT	Camtek	Pair Corr
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0.85	CAT	Caterpillar	Pair Corr
0.93	AXP	American Express	Pair Corr
0.97	DIS	Walt Disney	Pair Corr
0.9	AA	Alcoa Corp	Pair Corr

Moving against Digi Stock

0.31	QMCO	Quantum	Pair Corr
0.61	MCD	McDonalds	Pair Corr
0.55	KO	Coca Cola Earnings Call This Week	Pair Corr
0.54	07274NBG7	BAYNGR 5 15	Pair Corr
0.33	PG	Procter Gamble	Pair Corr
0.31	FVR	FrontView REIT,	Pair Corr

Related Correlations Analysis

	CLFD	CMTL	KN	EXTR	KVHI	AGYS	DCOM	CCRN	DIOD
CLFD		0.92	0.92	0.98	0.82	0.92	0.29	-0.68	0.96	CLFD
CMTL	0.92		0.84	0.9	0.8	0.94	0.35	-0.79	0.91	CMTL
KN	0.92	0.84		0.93	0.72	0.82	0.35	-0.7	0.93	KN
EXTR	0.98	0.9	0.93		0.81	0.91	0.28	-0.67	0.96	EXTR
KVHI	0.82	0.8	0.72	0.81		0.82	0.04	-0.5	0.78	KVHI
AGYS	0.92	0.94	0.82	0.91	0.82		0.21	-0.74	0.89	AGYS
DCOM	0.29	0.35	0.35	0.28	0.04	0.21		-0.36	0.42	DCOM
CCRN	-0.68	-0.79	-0.7	-0.67	-0.5	-0.74	-0.36		-0.74	CCRN
DIOD	0.96	0.91	0.93	0.96	0.78	0.89	0.42	-0.74		DIOD
	CLFD	CMTL	KN	EXTR	KVHI	AGYS	DCOM	CCRN	DIOD

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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

EXTR	+ 0.98	CLFD
DIOD	+ 0.96	CLFD
DIOD	+ 0.96	EXTR
AGYS	+ 0.94	CMTL
EXTR	+ 0.93	KN
DIOD	+ 0.93	KN

High negative correlations

CCRN	- 0.79	CMTL
DIOD	- 0.74	CCRN
CCRN	- 0.74	AGYS
CCRN	- 0.7	KN
CCRN	- 0.68	CLFD
CCRN	- 0.67	EXTR

Risk-Adjusted Indicators

There is a big difference between Digi Stock performing well and Digi International 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 Digi International'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
CLFD	1.68	0.59	0.41	0.61	0.80	(2.01)	4.50	(2.04)	11.21
CMTL	4.31	0.79	0.16	0.58	4.94	(4.96)	11.73	(6.73)	30.00
KN	1.37	0.15	0.11	0.26	1.28	(1.55)	2.92	(2.13)	8.94
EXTR	1.78	0.64	0.32	10.43	1.12	(2.16)	4.64	(2.37)	9.52
KVHI	1.18	0.15	0.01	8.00	1.22	(1.55)	4.32	(2.21)	9.24
AGYS	1.94	0.70	0.36	0.89	1.23	(2.29)	3.97	(2.80)	26.55
DCOM	1.42	0.08	0.06	0.20	1.60	(1.57)	3.04	(3.44)	9.32
CCRN	0.97	(0.17)	0.00	4.28	0.00	0.00	2.03	(2.36)	8.27
DIOD	1.98	0.61	0.25	1.02	1.59	(2.26)	5.17	(2.97)	17.03

Digi International Corporate Management

Mandi Karasek	VP HR	Profile
Terrence Schneider	Senior Management	Profile
Brian Ballenger	Interim Treasurer and Acting Principal Financial Officer and Principal Accounting Officer	Profile
Justin Schmid	Senior Solutions	Profile
James Freeland	Senior Officer	Profile
Gary Marks	Senior Opengear	Profile

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