Extreme Networks Correlations
| EXTR Stock | USD 10.94 0.19 1.71% |
The correlation of Extreme Networks 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 Extreme Networks moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Extreme Networks 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.
Very weak diversification
The correlation between Extreme Networks and NYA is 0.42 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Extreme Networks and NYA in the same portfolio, assuming nothing else is changed.
Extreme |
The ability to find closely correlated positions to Extreme Networks could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Extreme Networks 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 Extreme Networks - 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 Extreme Networks to buy it.
Moving together with Extreme Stock
| 0.77 | CSCO | Cisco Systems Fiscal Quarter End 30th of April 2024 | PairCorr |
| 0.63 | G | Genpact Limited Financial Report 8th of May 2024 | PairCorr |
| 0.75 | III | Information Services Financial Report 13th of May 2024 | PairCorr |
| 0.65 | INTC | Intel Earnings Call This Week | PairCorr |
| 0.76 | KLIC | Kulicke and Soffa Financial Report 1st of May 2024 | PairCorr |
Moving against Extreme Stock
| 0.83 | CACI | CACI International Earnings Call This Week | PairCorr |
| 0.79 | FORTY | Formula Systems 1985 | PairCorr |
| 0.79 | UCTT | Ultra Clean Holdings | PairCorr |
| 0.76 | LRCX | Lam Research Corp Earnings Call This Week | PairCorr |
| 0.76 | NVMI | Nova Financial Report 9th of May 2024 | PairCorr |
| 0.75 | NYAX | Nayax Financial Report 8th of May 2024 | PairCorr |
| 0.7 | ENTG | Entegris Financial Report 9th of May 2024 | PairCorr |
| 0.7 | KLAC | KLA Tencor Earnings Call This Week | PairCorr |
| 0.67 | PSTG | Pure Storage Financial Report 29th of May 2024 | PairCorr |
| 0.67 | MSFT | Microsoft Earnings Call This Week | PairCorr |
| 0.56 | ASYS | Amtech Systems Financial Report 8th of May 2024 | PairCorr |
| 0.56 | CSPI | CSP Inc | PairCorr |
| 0.53 | NOTE | FiscalNote Holdings Financial Report 8th of May 2024 | 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 Extreme Stock performing well and Extreme Networks 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 Extreme Networks' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| KN | 1.31 | (0.22) | 0.00 | (0.08) | 0.00 | 2.67 | 8.35 | |||
| KVHI | 1.84 | (0.02) | (0.02) | 0.01 | 2.63 | 3.93 | 15.57 | |||
| CMTL | 4.22 | (2.05) | 0.00 | (0.76) | 0.00 | 8.59 | 42.56 | |||
| SATS | 2.81 | (0.29) | 0.00 | (0.14) | 0.00 | 7.83 | 19.27 | |||
| 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 | |||
| NTGR | 1.72 | (0.07) | 0.00 | 0.02 | 2.47 | 3.88 | 14.57 | |||
| DGII | 1.75 | 0.23 | 0.15 | 0.15 | 1.91 | 4.23 | 19.41 | |||
| CIEN | 1.70 | (0.27) | 0.00 | (0.14) | 0.00 | 2.73 | 21.49 | |||
| HPE | 1.31 | 0.12 | 0.07 | 0.18 | 1.47 | 2.77 | 14.79 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Extreme Networks 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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Theme RatingsDetermine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance |
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Extreme Networks Corporate Directors
Extreme Networks corporate directors refer to members of an Extreme Networks board of directors. The board of directors generally takes responsibility for the Extreme Networks' 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 Extreme Networks' board members must vote for the resolution. The Extreme Networks board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.| Charles Carinalli | Independent Director | Profile | |
| Edward Kennedy | Independent Director | Profile | |
| Maryam AlexandrianAdams | Director | Profile | |
| John Shoemaker | Independent Director | Profile |
Already Invested in Extreme Networks?
The danger of trading Extreme Networks 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 Extreme Networks 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 Extreme Networks. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Extreme Networks 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 Extreme Networks is a strong investment it is important to analyze Extreme Networks' 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 Extreme Networks' future performance. For an informed investment choice regarding Extreme Stock, refer to the following important reports: Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Extreme Networks. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in estimate. To learn how to invest in Extreme Stock, please use our How to Invest in Extreme Networks guide.You can also try the Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
Complementary Tools for Extreme Stock analysis
When running Extreme Networks' price analysis, check to measure Extreme Networks' 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 Extreme Networks is operating at the current time. Most of Extreme Networks' value examination focuses on studying past and present price action to predict the probability of Extreme Networks' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Extreme Networks' price. Additionally, you may evaluate how the addition of Extreme Networks to your portfolios can decrease your overall portfolio volatility.
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Is Extreme Networks' 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 Extreme Networks. If investors know Extreme 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 Extreme Networks 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 (0.77) | Earnings Share 0.6 | Revenue Per Share 10.456 | Quarterly Revenue Growth (0.07) | Return On Assets 0.0723 |
The market value of Extreme Networks is measured differently than its book value, which is the value of Extreme that is recorded on the company's balance sheet. Investors also form their own opinion of Extreme Networks' value that differs from its market value or its book value, called intrinsic value, which is Extreme Networks' 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 Extreme Networks' market value can be influenced by many factors that don't directly affect Extreme Networks' 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 Extreme Networks' value and its price as these two are different measures arrived at by different means. Investors typically determine if Extreme Networks is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Extreme Networks' 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.