Casa Systems Correlations

Summary

CASADelisted Stock

USD 1.11 0.03 2.63%

The current 90-days correlation between Casa Systems and Comtech Telecommunications Corp is -0.1 (i.e., Good diversification). The correlation of Casa Systems 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.

Casa Systems Correlation With Market

Average diversification

The correlation between Casa Systems and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Casa Systems and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Casa Stock

0.65	MCD	McDonalds Fiscal Year End 3rd of February 2025	Pair Corr
0.51	GE	GE Aerospace Fiscal Year End 28th of January 2025	Pair Corr
0.41	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr
0.38	HD	Home Depot	Pair Corr
0.34	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.33	XOM	Exxon Mobil Corp Sell-off Trend	Pair Corr

Related Correlations Analysis

	ADTN	CMTL	DGII	KVHI	EXTR	NTGR	DZSI	HLIT	CLFD	KN
ADTN		-0.34	0.88	0.71	0.79	0.84	-0.72	-0.52	-0.84	0.84	ADTN
CMTL	-0.34		-0.29	0.12	-0.27	-0.25	0.15	0.53	0.43	-0.27	CMTL
DGII	0.88	-0.29		0.6	0.72	0.71	-0.68	-0.46	-0.74	0.81	DGII
KVHI	0.71	0.12	0.6		0.5	0.58	-0.78	-0.22	-0.7	0.56	KVHI
EXTR	0.79	-0.27	0.72	0.5		0.74	-0.52	-0.43	-0.54	0.88	EXTR
NTGR	0.84	-0.25	0.71	0.58	0.74		-0.62	-0.58	-0.63	0.67	NTGR
DZSI	-0.72	0.15	-0.68	-0.78	-0.52	-0.62		0.35	0.61	-0.6	DZSI
HLIT	-0.52	0.53	-0.46	-0.22	-0.43	-0.58	0.35		0.58	-0.36	HLIT
CLFD	-0.84	0.43	-0.74	-0.7	-0.54	-0.63	0.61	0.58		-0.58	CLFD
KN	0.84	-0.27	0.81	0.56	0.88	0.67	-0.6	-0.36	-0.58		KN
	ADTN	CMTL	DGII	KVHI	EXTR	NTGR	DZSI	HLIT	CLFD	KN

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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

DGII	+ 0.88	ADTN
KN	+ 0.88	EXTR
NTGR	+ 0.84	ADTN
KN	+ 0.84	ADTN
KN	+ 0.81	DGII
EXTR	+ 0.79	ADTN

High negative correlations

CLFD	- 0.84	ADTN
DZSI	- 0.78	KVHI
CLFD	- 0.74	DGII
DZSI	- 0.72	ADTN
CLFD	- 0.7	KVHI
DZSI	- 0.68	DGII

Risk-Adjusted Indicators

There is a big difference between Casa Stock performing well and Casa Systems 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 Casa Systems' 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
ADTN	2.23	0.49	0.27	0.43	1.64	(2.73)	6.18	(3.34)	22.03
CMTL	4.83	0.33	0.05	0.32	6.57	(5.34)	12.63	(8.43)	40.77
DGII	1.51	0.01	0.06	0.12	1.68	(1.69)	3.54	(3.10)	12.64
KVHI	1.76	0.36	0.15	0.82	1.57	(2.22)	4.42	(2.92)	10.42
EXTR	1.94	(0.03)	0.03	0.10	2.16	(2.18)	5.48	(3.30)	18.17
NTGR	2.29	0.56	0.30	0.56	1.54	(3.08)	5.28	(3.74)	34.93
DZSI	5.85	(2.65)	0.00	4.94	0.00	0.00	8.73	(20.00)	63.79
HLIT	1.88	(0.30)	0.00	(0.08)	0.00	0.00	3.97	(4.23)	29.07
CLFD	2.13	(0.39)	0.00	(0.15)	0.00	0.00	3.15	(4.79)	10.81
KN	1.48	(0.09)	0.02	0.07	1.70	(1.72)	2.67	(3.10)	12.11

Casa Systems Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Casa Systems stock to make a market-neutral strategy. Peer analysis of Casa Systems could also be used in its relative valuation, which is a method of valuing Casa Systems by comparing valuation metrics with similar companies.

ADTRAN Inc Comtech Telecommunications Corp Digi International KVH Industries Extreme Networks NETGEAR DZS Inc Harmonic Clearfield Knowles Cor EchoStar Mynaric AG ADR Telesat Corp American Airlines Group Alcoa Corp

Risk & Return

Correlation

Casa Systems Corporate Management

Michael Picariello	Director Relations	Profile
Edward Durkin	Chief Officer	Profile
Matthew Slepian	Co Officer	Profile
Steve Collins	Senior Devices	Profile

Still Interested in Casa Systems?

Investing in delisted delisted stocks can be risky, as the stock is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.

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