Edgio Correlations

EGIO Stock

USD 0.02 0.00 0.00%

The current 90-days correlation between Edgio Inc and New Relic is -0.1 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Edgio moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Edgio Inc moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Edgio Correlation With Market

Good diversification

The correlation between Edgio Inc and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Edgio Inc and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities 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 gross domestic product.

Moving together with Edgio Stock

0.81	VRAR	Glimpse Group	Pair Corr
0.81	VRNT	Verint Systems Earnings Call This Week	Pair Corr

Moving against Edgio Stock

0.73	FFIV	F5 Networks	Pair Corr
0.72	CETXP	Cemtrex Pref	Pair Corr
0.71	JG	Aurora Mobile Upward Rally	Pair Corr
0.6	S	SentinelOne	Pair Corr
0.58	DTSS	Datasea	Pair Corr
0.52	DOCN	DigitalOcean Holdings	Pair Corr
0.5	SQ	Block Inc Sell-off Trend	Pair Corr
0.46	NN	Nextnav Acquisition Corp	Pair Corr
0.45	GB	Global Blue Group	Pair Corr
0.45	VERI	Veritone	Pair Corr
0.34	BB	BlackBerry	Pair Corr
0.78	IOT	Samsara	Pair Corr
0.71	FOUR	Shift4 Payments	Pair Corr
0.67	XNET	Xunlei Ltd Adr	Pair Corr
0.66	DBX	Dropbox	Pair Corr
0.61	ODD	ODDITY Tech	Pair Corr
0.59	GCT	GigaCloud Technology	Pair Corr
0.59	GEN	Gen Digital Sell-off Trend	Pair Corr
0.57	NET	Cloudflare	Pair Corr
0.48	DOX	Amdocs	Pair Corr
0.44	FTNT	Fortinet	Pair Corr
0.35	PAY	Paymentus Holdings	Pair Corr

Related Correlations Analysis

	NEWR	PAGS	VMW	DLO	STNE	NTNX	SPLK	OKTA	DAVA	DBX
NEWR		0.25	-0.41	-0.25	0.04	-0.36	-0.37	0.04	0.16	-0.36	NEWR
PAGS	0.25		-0.67	-0.42	0.88	-0.6	-0.75	0.57	0.67	-0.66	PAGS
VMW	-0.41	-0.67		0.82	-0.71	0.8	0.82	-0.08	-0.3	0.85	VMW
DLO	-0.25	-0.42	0.82		-0.54	0.67	0.5	0.01	0.01	0.61	DLO
STNE	0.04	0.88	-0.71	-0.54		-0.61	-0.67	0.49	0.52	-0.55	STNE
NTNX	-0.36	-0.6	0.8	0.67	-0.61		0.6	-0.24	-0.16	0.82	NTNX
SPLK	-0.37	-0.75	0.82	0.5	-0.67	0.6		-0.12	-0.67	0.82	SPLK
OKTA	0.04	0.57	-0.08	0.01	0.49	-0.24	-0.12		0.39	-0.03	OKTA
DAVA	0.16	0.67	-0.3	0.01	0.52	-0.16	-0.67	0.39		-0.36	DAVA
DBX	-0.36	-0.66	0.85	0.61	-0.55	0.82	0.82	-0.03	-0.36		DBX
	NEWR	PAGS	VMW	DLO	STNE	NTNX	SPLK	OKTA	DAVA	DBX

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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

STNE	+ 0.88	PAGS
DBX	+ 0.85	VMW
DLO	+ 0.82	VMW
SPLK	+ 0.82	VMW
DBX	+ 0.82	NTNX
DBX	+ 0.82	SPLK

High negative correlations

SPLK	- 0.75	PAGS
STNE	- 0.71	VMW
DAVA	- 0.67	SPLK
SPLK	- 0.67	STNE
VMW	- 0.67	PAGS
DBX	- 0.66	PAGS

Risk-Adjusted Indicators

There is a big difference between Edgio Stock performing well and Edgio 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 Edgio'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
NEWR	1.58	(0.05)	0.00	(0.10)	0.00	0.00	2.68	(3.35)	18.35
PAGS	1.67	(0.58)	0.00	(0.54)	0.00	0.00	3.17	(4.16)	11.66
VMW	1.27	0.37	0.18	(1.84)	0.90	(1.54)	4.04	(2.18)	7.26
DLO	2.31	0.39	0.13	0.76	2.18	(2.56)	6.30	(3.98)	15.87
STNE	2.13	(0.53)	0.00	(0.21)	0.00	0.00	4.35	(5.82)	15.16
NTNX	1.88	0.33	0.21	0.34	1.43	(2.34)	3.95	(2.81)	25.02
SPLK	1.63	0.25	0.03	(0.36)	1.70	(1.91)	4.36	(3.33)	10.70
OKTA	1.47	(0.44)	0.00	(0.38)	0.00	0.00	2.39	(3.42)	17.64
DAVA	2.28	(0.29)	0.00	(0.08)	0.00	0.00	6.11	(4.81)	14.12
DBX	1.17	0.11	0.07	0.23	1.46	(1.26)	2.87	(2.51)	7.66

Edgio 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 Edgio stock to make a market-neutral strategy. Peer analysis of Edgio could also be used in its relative valuation, which is a method of valuing Edgio by comparing valuation metrics with similar companies.

New Relic PagSeguro Digital VMware Inc Dlocal StoneCo Nutanix Splunk Inc Okta Inc Endava Dropbox Godaddy ACI Worldwide American Airlines Group Alcoa Corp Apple Inc

Risk & Return

Correlation

Edgio Corporate Management

Robert Lyons	CEO Pres	Profile
Stephen Cumming	CFO Treasurer	Profile
Kathy Austin	Senior Officer	Profile
Eric Armstrong	Chief Officer	Profile
Sameet Sinha	Vice Development	Profile
Richard Diegnan	Chief Sec	Profile

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