CommScope Holding Correlations
| COMM Stock | USD 0.92 0.03 3.16% |
The correlation of CommScope Holding 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as CommScope Holding moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if CommScope Holding Co moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Weak diversification
The correlation between CommScope Holding Co and NYA is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CommScope Holding Co and NYA in the same portfolio, assuming nothing else is changed.
CommScope |
The ability to find closely correlated positions to CommScope Holding could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace CommScope Holding when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back CommScope Holding - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling CommScope Holding Co to buy it.
Moving together with CommScope Stock
| 0.76 | CPSH | Cps Technologies Tech Boost | PairCorr |
| 0.84 | G | Genpact Limited Financial Report 8th of May 2024 | PairCorr |
| 0.67 | ZD | Ziff Davis Financial Report 14th of May 2024 | PairCorr |
| 0.83 | III | Information Services Financial Report 13th of May 2024 | PairCorr |
| 0.67 | PLAB | Photronics Financial Report 22nd of May 2024 | PairCorr |
Moving against CommScope Stock
| 0.93 | PSTG | Pure Storage Financial Report 29th of May 2024 | PairCorr |
| 0.89 | NVMI | Nova Downward Rally | PairCorr |
| 0.89 | FORTY | Formula Systems 1985 | PairCorr |
| 0.83 | KLAC | KLA Tencor Earnings Call This Week | PairCorr |
| 0.83 | LRCX | Lam Research Corp Earnings Call This Week | PairCorr |
| 0.81 | CACI | CACI International Earnings Call This Week | PairCorr |
| 0.77 | ENTG | Entegris Financial Report 9th of May 2024 | PairCorr |
| 0.77 | ASYS | Amtech Systems Financial Report 8th of May 2024 | PairCorr |
| 0.73 | UCTT | Ultra Clean Holdings | PairCorr |
| 0.66 | CSPI | CSP Inc | PairCorr |
| 0.64 | MSFT | Microsoft Earnings Call This Week | PairCorr |
| 0.54 | NYAX | Nayax Financial Report 8th of May 2024 | PairCorr |
| 0.41 | CLPS | CLPS Inc | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between CommScope Stock performing well and CommScope Holding 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 CommScope Holding'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| DZSI | 3.21 | (0.51) | 0.00 | (0.33) | 0.00 | 6.94 | 20.30 | |||
| HLIT | 1.96 | (0.30) | 0.00 | (0.39) | 0.00 | 4.37 | 22.22 | |||
| NTGR | 1.72 | (0.07) | 0.00 | 0.02 | 2.47 | 3.88 | 14.57 | |||
| CMTL | 4.22 | (2.05) | 0.00 | (0.76) | 0.00 | 8.59 | 42.56 | |||
| ADTN | 2.42 | (0.77) | 0.00 | (0.23) | 0.00 | 3.71 | 15.91 | |||
| CASA | 7.62 | (4.12) | 0.00 | (0.85) | 0.00 | 10.00 | 94.47 | |||
| DGII | 1.75 | 0.23 | 0.15 | 0.15 | 1.91 | 4.23 | 19.41 | |||
| KVHI | 1.84 | (0.02) | (0.02) | 0.01 | 2.63 | 3.93 | 15.57 | |||
| EXTR | 1.69 | (0.68) | 0.00 | (0.28) | 0.00 | 2.93 | 20.75 | |||
| AVNW | 1.95 | (0.04) | 0.00 | 0.04 | 2.20 | 3.82 | 26.91 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in CommScope Holding without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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CommScope Holding Corporate Directors
CommScope Holding corporate directors refer to members of a CommScope Holding board of directors. The board of directors generally takes responsibility for the CommScope Holding's affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of CommScope Holding's board members must vote for the resolution. The CommScope Holding board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.| William Krause | Independent Director | Profile | |
| Stephen Gray | Director | Profile | |
| Thomas Manning | Independent Director | Profile | |
| Timothy Yates | Independent Director | Profile |
Already Invested in CommScope Holding Co?
The danger of trading CommScope Holding Co is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of CommScope Holding is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than CommScope Holding. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile CommScope Holding is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether CommScope Holding is a strong investment it is important to analyze CommScope Holding's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact CommScope Holding's future performance. For an informed investment choice regarding CommScope Stock, refer to the following important reports: Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in CommScope Holding Co. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in population. You can also try the Fundamental Analysis module to view fundamental data based on most recent published financial statements.
Complementary Tools for CommScope Stock analysis
When running CommScope Holding's price analysis, check to measure CommScope Holding's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy CommScope Holding is operating at the current time. Most of CommScope Holding's value examination focuses on studying past and present price action to predict the probability of CommScope Holding's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move CommScope Holding's price. Additionally, you may evaluate how the addition of CommScope Holding to your portfolios can decrease your overall portfolio volatility.
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Is CommScope Holding's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of CommScope Holding. If investors know CommScope will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about CommScope Holding listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (4.33) | Revenue Per Share 27.45 | Quarterly Revenue Growth (0.49) | Return On Assets 0.0308 | Return On Equity (18.38) |
The market value of CommScope Holding is measured differently than its book value, which is the value of CommScope that is recorded on the company's balance sheet. Investors also form their own opinion of CommScope Holding's value that differs from its market value or its book value, called intrinsic value, which is CommScope Holding's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because CommScope Holding's market value can be influenced by many factors that don't directly affect CommScope Holding's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between CommScope Holding's value and its price as these two are different measures arrived at by different means. Investors typically determine if CommScope Holding is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, CommScope Holding's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.