ScanSource Correlations

SCSC Stock

USD 37.72 0.97 2.51%

The current 90-days correlation between ScanSource and NETGEAR is -0.22 (i.e., Very good diversification). The correlation of ScanSource 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.

ScanSource Correlation With Market

Very good diversification

The correlation between ScanSource and DJI is -0.23 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ScanSource and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ScanSource Stock

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

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

Moving together with ScanSource Stock

0.63	KE	Kimball Electronics	Pair Corr
0.66	AMPGW	AmpliTech Group	Pair Corr
0.63	300333	Sinosun Tech	Pair Corr
0.7	SATLW	Satellogic Warrant	Pair Corr
0.68	EHGO	Eshallgo Class A	Pair Corr
0.71	301321	Highbroad Advanced	Pair Corr
0.71	300940	Shen Zhen Australis	Pair Corr
0.64	EVLV	Evolv Technologies	Pair Corr

Moving against ScanSource Stock

0.52	301099	Shanghai Yct Electronics	Pair Corr
0.46	FN	Fabrinet	Pair Corr
0.33	600207	Henan Ancai Hi	Pair Corr
0.7	603556	Hexing Electrical	Pair Corr
0.4	300354	DongHua Testing Tech	Pair Corr
0.33	603015	Ningbo Techmation	Pair Corr
0.61	300626	Huarui Electrical	Pair Corr
0.6	301045	Talant Optronics	Pair Corr
0.41	601138	Foxconn Industrial	Pair Corr

Related Correlations Analysis

	NTGR	MGIC	SSYS	AOSL	CTLP	CLMB	SKYT	DAKT	ARQQ	GCT
NTGR		-0.05	0.57	0.4	-0.56	0.51	0.58	0.36	0.82	-0.33	NTGR
MGIC	-0.05		-0.56	-0.81	-0.46	-0.69	0.56	-0.19	-0.09	0.37	MGIC
SSYS	0.57	-0.56		0.73	-0.13	0.74	0.14	0.12	0.59	-0.39	SSYS
AOSL	0.4	-0.81	0.73		0.22	0.75	-0.34	0.28	0.4	-0.6	AOSL
CTLP	-0.56	-0.46	-0.13	0.22		0.03	-0.82	-0.31	-0.5	-0.1	CTLP
CLMB	0.51	-0.69	0.74	0.75	0.03		-0.06	0.5	0.53	-0.33	CLMB
SKYT	0.58	0.56	0.14	-0.34	-0.82	-0.06		0.08	0.56	0.14	SKYT
DAKT	0.36	-0.19	0.12	0.28	-0.31	0.5	0.08		0.28	0.14	DAKT
ARQQ	0.82	-0.09	0.59	0.4	-0.5	0.53	0.56	0.28		-0.26	ARQQ
GCT	-0.33	0.37	-0.39	-0.6	-0.1	-0.33	0.14	0.14	-0.26		GCT
	NTGR	MGIC	SSYS	AOSL	CTLP	CLMB	SKYT	DAKT	ARQQ	GCT

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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

ARQQ	+ 0.82	NTGR
CLMB	+ 0.75	AOSL
CLMB	+ 0.74	SSYS
AOSL	+ 0.73	SSYS
ARQQ	+ 0.59	SSYS
SKYT	+ 0.58	NTGR

High negative correlations

SKYT	- 0.82	CTLP
AOSL	- 0.81	MGIC
CLMB	- 0.69	MGIC
GCT	- 0.6	AOSL
SSYS	- 0.56	MGIC
CTLP	- 0.56	NTGR

Risk-Adjusted Indicators

There is a big difference between ScanSource Stock performing well and ScanSource 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 ScanSource'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
NTGR	2.07	(0.07)	(0.01)	0.00	3.29	(2.02)	4.17	(6.83)	20.50
MGIC	1.59	0.17	0.08	0.23	1.94	(1.66)	3.16	(3.58)	12.49
SSYS	2.46	(0.38)	0.00	(0.12)	0.00	0.00	6.04	(5.16)	22.42
AOSL	3.25	(0.45)	0.00	0.85	0.00	0.00	4.89	(7.39)	42.18
CTLP	0.25	(0.04)	0.00	1.42	0.00	0.00	0.37	(0.47)	2.59
CLMB	2.19	(0.22)	0.00	(0.11)	0.00	0.00	3.75	(5.36)	14.78
SKYT	5.43	0.74	0.12	0.93	5.80	(6.20)	12.50	(9.84)	48.91
DAKT	2.03	0.13	0.07	0.17	1.87	(2.56)	4.39	(3.12)	24.40
ARQQ	5.77	(0.06)	0.00	(0.05)	0.00	0.00	11.40	(9.20)	46.11
GCT	3.20	0.05	0.02	0.05	4.25	(3.00)	4.66	(6.11)	35.50

ScanSource Corporate Management

Shana Smith	Chief EVP	Profile
Brian Cuppett	Senior KBZ	Profile
Alexandre Conde	Senior Officer	Profile
Lea Guarnaccia	Corporate Secretary	Profile

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