National Instruments Correlations

Summary

NATIDelisted Stock

USD 56.35 0.41 0.73%

The current 90-days correlation between National Instruments and Aspen Technology is 0.05 (i.e., Significant diversification). The correlation of National Instruments 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.

National Instruments Correlation With Market

Modest diversification

The correlation between National Instruments and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding National Instruments and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis 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 estimate.

Moving together with National Stock

0.63	AFFL	Affiliated Resources Corp	Pair Corr
0.78	KO	Coca Cola Fiscal Year End 11th of February 2025	Pair Corr
0.69	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.75	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr

Moving against National Stock

0.88	DIS	Walt Disney Aggressive Push	Pair Corr
0.85	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.85	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.81	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.79	T	ATT Inc Aggressive Push	Pair Corr
0.75	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.55	HD	Home Depot	Pair Corr
0.44	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.43	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr

Related Correlations Analysis

	AZPN	BSY	TYL	BLKB	SSNC	MNTV	PRO	MIXT	MLNK	ENFN
AZPN		-0.08	0.74	0.25	0.3	0.39	0.89	-0.76	0.13	0.87	AZPN
BSY	-0.08		-0.15	0.25	0.35	-0.09	-0.16	0.08	-0.02	-0.05	BSY
TYL	0.74	-0.15		0.06	0.12	0.28	0.79	-0.73	0.28	0.62	TYL
BLKB	0.25	0.25	0.06		0.59	0.1	0.1	0.01	0.03	0.28	BLKB
SSNC	0.3	0.35	0.12	0.59		0.05	0.22	0.05	0.15	0.3	SSNC
MNTV	0.39	-0.09	0.28	0.1	0.05		0.21	-0.49	-0.1	0.49	MNTV
PRO	0.89	-0.16	0.79	0.1	0.22	0.21		-0.76	0.38	0.78	PRO
MIXT	-0.76	0.08	-0.73	0.01	0.05	-0.49	-0.76		-0.07	-0.7	MIXT
MLNK	0.13	-0.02	0.28	0.03	0.15	-0.1	0.38	-0.07		0.02	MLNK
ENFN	0.87	-0.05	0.62	0.28	0.3	0.49	0.78	-0.7	0.02		ENFN
	AZPN	BSY	TYL	BLKB	SSNC	MNTV	PRO	MIXT	MLNK	ENFN

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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

PRO	+ 0.89	AZPN
ENFN	+ 0.87	AZPN
PRO	+ 0.79	TYL
ENFN	+ 0.78	PRO
TYL	+ 0.74	AZPN
ENFN	+ 0.62	TYL

High negative correlations

MIXT	- 0.76	PRO
MIXT	- 0.76	AZPN
MIXT	- 0.73	TYL
ENFN	- 0.7	MIXT
MIXT	- 0.49	MNTV
PRO	- 0.16	BSY

Risk-Adjusted Indicators

There is a big difference between National Stock performing well and National Instruments 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 National Instruments' 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
AZPN	0.90	0.01	(0.01)	0.11	1.15	(0.94)	1.77	(2.08)	5.82
BSY	1.23	(0.12)	0.00	(0.08)	0.00	0.00	2.30	(3.12)	8.31
TYL	0.89	0.06	(0.02)	0.34	0.82	(1.14)	2.01	(1.56)	7.85
BLKB	1.36	(0.16)	(0.03)	0.00	3.00	(1.34)	2.93	(2.52)	18.39
SSNC	0.84	(0.07)	(0.04)	0.04	1.51	(0.78)	1.60	(1.31)	8.68
MNTV	0.90	0.60	2.09	(0.51)	0.00	(1.77)	0.43	(0.21)	20.63
PRO	2.50	(0.03)	0.03	0.09	3.22	(2.38)	6.36	(5.04)	13.19
MIXT	2.00	(0.18)	0.00	(1.23)	0.00	0.00	3.52	(3.34)	12.12
MLNK	1.63	(0.08)	(0.03)	0.02	2.37	(1.57)	3.17	(3.18)	14.62
ENFN	1.59	0.20	0.13	0.28	1.50	(1.96)	3.93	(2.90)	10.11

View National Instruments Related Equities

Aspen Technology Bentley Systems Tyler Technologies Blackbaud SSC Technologies Holdings Momentive Global PROS Holdings Mix Telemats Meridianlink Enfusion Paycor HCM Clearwater Analytics Holdings Procore Technologies Alkami Technology Model N

Risk & Return

Correlation

National Instruments Corporate Management

Eric Starkloff	Executive VP of Global Sales and Marketing	Profile
Will Denman	VP Support	Profile
Thomas Benjamin	CTO VP	Profile
Kevin Ilcisin	Sr Devel	Profile
Jason Green	GM VP	Profile
Eddie Dixon	Chief VP	Profile

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