Digi International Correlations
| DGII Stock | USD 27.39 0.39 1.44% |
The correlation of Digi International 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 Digi International moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Digi International 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 Digi International and NYA is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Digi International and NYA in the same portfolio, assuming nothing else is changed.
Digi |
The ability to find closely correlated positions to Digi International could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Digi International 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 Digi International - 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 Digi International to buy it.
Moving together with Digi Stock
Moving against Digi Stock
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 Digi Stock performing well and Digi International 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 Digi International'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| EXTR | 1.47 | (0.27) | 0.00 | (0.15) | 0.00 | 3.36 | 9.00 | |||
| CIEN | 1.67 | (0.27) | 0.00 | (0.11) | 0.00 | 2.73 | 21.49 | |||
| HLIT | 1.98 | (0.23) | 0.00 | (0.23) | 0.00 | 3.56 | 20.73 | |||
| CMTL | 4.73 | (1.71) | 0.00 | (2.52) | 0.00 | 9.63 | 37.05 | |||
| ADTN | 2.47 | (0.19) | 0.00 | 0.30 | 0.00 | 3.71 | 15.91 | |||
| MYNA | 3.41 | (0.04) | 0.00 | (0.35) | 0.00 | 7.66 | 20.36 | |||
| KVHI | 1.71 | 0.21 | 0.04 | (0.39) | 2.23 | 3.93 | 11.63 | |||
| TSAT | 2.29 | (0.38) | 0.00 | (0.61) | 0.00 | 4.35 | 15.54 | |||
| NTGR | 2.12 | (0.31) | 0.00 | (0.14) | 0.00 | 3.88 | 30.25 | |||
| ITRN | 1.15 | 0.10 | 0.04 | 0.32 | 1.37 | 2.89 | 9.75 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Digi International 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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Digi International Corporate Management
Elected by the shareholders, the Digi International's board of directors comprises two types of representatives: Digi International inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Digi. The board's role is to monitor Digi International's management team and ensure that shareholders' interests are well served. Digi International's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Digi International's outside directors are responsible for providing unbiased perspectives on the board's policies.
| James Freeland | VP Officer | Profile | |
| Mandi Karasek | VP HR | Profile | |
| Terrence Schneider | Senior Management | Profile | |
| Brian Ballenger | Interim Treasurer and Acting Principal Financial Officer and Principal Accounting Officer | Profile | |
| Justin Schmid | Senior Solutions | Profile | |
| Gary Marks | Senior Opengear | Profile |
Already Invested in Digi International?
The danger of trading Digi International 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 Digi International 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 Digi International. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Digi International 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 Digi International offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Digi International's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Digi International Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Digi International Stock: Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Digi International. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in gross domestic product. For more detail on how to invest in Digi Stock please use our How to Invest in Digi International guide.You can also try the Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.
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When running Digi International's price analysis, check to measure Digi International'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 Digi International is operating at the current time. Most of Digi International's value examination focuses on studying past and present price action to predict the probability of Digi International's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Digi International's price. Additionally, you may evaluate how the addition of Digi International to your portfolios can decrease your overall portfolio volatility.
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Is Digi International'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 Digi International. If investors know Digi 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 Digi International listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.31) | Earnings Share 0.38 | Revenue Per Share 12.146 | Quarterly Revenue Growth (0.03) | Return On Assets 0.0346 |
The market value of Digi International is measured differently than its book value, which is the value of Digi that is recorded on the company's balance sheet. Investors also form their own opinion of Digi International's value that differs from its market value or its book value, called intrinsic value, which is Digi International'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 Digi International's market value can be influenced by many factors that don't directly affect Digi International'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 Digi International's value and its price as these two are different measures arrived at by different means. Investors typically determine if Digi International is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Digi International'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.