Analog Devices Correlations

ADI Stock

USD 217.17 1.88 0.86%

The current 90-days correlation between Analog Devices and MACOM Technology Solutions is 0.66 (i.e., Poor diversification). The correlation of Analog Devices 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.

Analog Devices Correlation With Market

Very weak diversification

The correlation between Analog Devices and DJI is 0.58 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Analog Devices and DJI in the same portfolio, assuming nothing else is changed.

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

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

Moving together with Analog Stock

0.71	MX	MagnaChip Semiconductor Tech Boost	Pair Corr
0.69	ON	ON Semiconductor	Pair Corr
0.85	MCHP	Microchip Technology	Pair Corr
0.82	MPWR	Monolithic Power Systems	Pair Corr
0.83	NXPI	NXP Semiconductors	Pair Corr
0.61	QRVO	Qorvo Inc	Pair Corr
0.72	AMKR	Amkor Technology	Pair Corr
0.89	SLAB	Silicon Laboratories	Pair Corr
0.63	SWKS	Skyworks Solutions	Pair Corr
0.75	CDW	CDW Corp	Pair Corr

Moving against Analog Stock

0.55	CAN	Canaan Inc Aggressive Push	Pair Corr
0.4	RMBS	Rambus Inc	Pair Corr
0.65	EPAM	EPAM Systems	Pair Corr
0.59	WDAY	Workday Downward Rally	Pair Corr
0.56	APP	Applovin Corp	Pair Corr
0.55	NN	Nextnav Acquisition Corp	Pair Corr
0.48	KD	Kyndryl Holdings Tech Boost	Pair Corr
0.48	ZM	Zoom Video Communications	Pair Corr
0.44	FICO	Fair Isaac	Pair Corr
0.38	CRM	Salesforce	Pair Corr
0.33	AI	C3 Ai Inc Earnings Call This Week	Pair Corr
0.56	IONQ	IONQ Inc	Pair Corr
0.54	GTLB	Gitlab Inc Earnings Call This Week	Pair Corr
0.54	HUBS	HubSpot	Pair Corr
0.52	INTU	Intuit Inc	Pair Corr
0.4	NOW	ServiceNow Fiscal Year End 22nd of January 2025	Pair Corr

Related Correlations Analysis

	MTSI	FORM	MXL	LASR	SYNA	DIOD	SITM	SIMO	SMTC
MTSI		-0.39	0.6	0.27	0.26	-0.11	0.95	-0.52	0.78	MTSI
FORM	-0.39		-0.21	0.01	0.34	0.72	-0.39	0.85	-0.4	FORM
MXL	0.6	-0.21		0.03	0.28	-0.1	0.58	-0.36	0.6	MXL
LASR	0.27	0.01	0.03		-0.08	0.26	0.18	-0.03	0.12	LASR
SYNA	0.26	0.34	0.28	-0.08		0.41	0.18	0.3	0.35	SYNA
DIOD	-0.11	0.72	-0.1	0.26	0.41		-0.21	0.65	-0.03	DIOD
SITM	0.95	-0.39	0.58	0.18	0.18	-0.21		-0.52	0.72	SITM
SIMO	-0.52	0.85	-0.36	-0.03	0.3	0.65	-0.52		-0.5	SIMO
SMTC	0.78	-0.4	0.6	0.12	0.35	-0.03	0.72	-0.5		SMTC
	MTSI	FORM	MXL	LASR	SYNA	DIOD	SITM	SIMO	SMTC

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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

SITM	+ 0.95	MTSI
SIMO	+ 0.85	FORM
SMTC	+ 0.78	MTSI
DIOD	+ 0.72	FORM
SMTC	+ 0.72	SITM
SIMO	+ 0.65	DIOD

High negative correlations

SIMO	- 0.52	SITM
SIMO	- 0.52	MTSI
SMTC	- 0.5	SIMO
SMTC	- 0.4	FORM
SITM	- 0.39	FORM
FORM	- 0.39	MTSI

Risk-Adjusted Indicators

There is a big difference between Analog Stock performing well and Analog Devices 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 Analog Devices' 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
MTSI	2.08	0.19	0.10	0.22	2.38	(2.40)	5.00	(3.42)	17.09
FORM	2.32	(0.60)	0.00	(0.15)	0.00	0.00	4.53	(5.08)	19.85
MXL	3.35	0.00	0.07	0.12	4.17	(3.76)	8.45	(6.75)	27.68
LASR	2.72	(0.24)	(0.02)	0.00	4.60	(3.01)	4.41	(3.69)	51.57
SYNA	2.29	(0.26)	(0.04)	0.00	2.95	(2.53)	4.72	(4.79)	14.26
DIOD	2.29	(0.32)	0.00	(0.02)	0.00	0.00	4.92	(4.41)	12.81
SITM	2.57	0.38	0.15	0.30	2.69	(2.65)	6.98	(4.87)	23.86
SIMO	1.89	(0.35)	0.00	(0.20)	0.00	0.00	3.26	(4.40)	12.89
SMTC	3.11	0.70	0.23	0.62	2.84	(3.75)	6.20	(5.66)	19.03

Analog Devices Corporate Management

Gregory Henderson	Energy, Automotive	Profile
Michael Sondel	Chief Accounting Officer and Principal Accounting Officer	Profile
Patrick ODoherty	Senior Healthcare	Profile
Janene JD	Chief Secretary	Profile

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