Arrow Electronics Correlations

ARW Stock

USD 139.63 3.50 2.45%

The current 90-days correlation between Arrow Electronics and Avnet Inc is 0.72 (i.e., Poor diversification). The correlation of Arrow Electronics 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Arrow Electronics Correlation With Market

Poor diversification

The correlation between Arrow Electronics and DJI is 0.63 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Arrow Electronics and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Arrow Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Arrow Electronics. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in real.

For more information on how to buy Arrow Stock please use our How to Invest in Arrow Electronics guide.

Moving together with Arrow Stock

0.88	Q	Qnity Electronics	Pair Corr
0.93	KN	Knowles Cor	Pair Corr
0.95	LFS	Littelfuse	Pair Corr
0.89	PX4	Plexus Corp	Pair Corr
0.68	AN1	Anritsu	Pair Corr
0.94	PJJ1	CHINA DISPLAY OTHHD	Pair Corr
0.7	PRHA	Prosegur Compaa de	Pair Corr
0.67	SATLW	Satellogic Warrant	Pair Corr
0.89	MKT	MKS Instruments	Pair Corr
0.97	VNI	Avnet Inc	Pair Corr
0.93	BRV	Brady	Pair Corr
0.79	H7B	COHERENT CORP	Pair Corr
0.72	BAERW	Bridger Aerospace	Pair Corr
0.75	MLI	MESA LABS INC	Pair Corr

Moving against Arrow Stock

0.92	EBON	Ebang International	Pair Corr
0.88	EVLV	Evolv Technologies	Pair Corr
0.77	KE	Kimball Electronics	Pair Corr
0.74	EHGO	Eshallgo Class A	Pair Corr
0.73	OTK	Otsuka	Pair Corr
0.45	OBD	Obducat AB	Pair Corr
0.44	AMPGW	AmpliTech Group	Pair Corr
0.38	1Q3	SENSIRION HOLDING Earnings Call This Week	Pair Corr
0.33	75S	SDM SE INH	Pair Corr
0.81	BMI	Badger Meter	Pair Corr
0.8	GEG	GEO Group	Pair Corr
0.79	SC3	ScanSource	Pair Corr
0.77	WRAP	Wrap Technologies	Pair Corr
0.58	FCUV	Focus Universal	Pair Corr
0.57	SFPI	Groupe Sfpi	Pair Corr
0.53	CDW	CDW Corp	Pair Corr
0.46	CLS	Celestica	Pair Corr

Related Correlations Analysis

	AVT	VNT	INGM	G	CWAN	DLB	SMTC	EXLS	ESE	WEX
AVT		0.83	-0.1	-0.91	0.22	-0.02	0.89	-0.93	0.93	0.25	AVT
VNT	0.83		-0.11	-0.77	0.35	0.07	0.73	-0.82	0.85	0.39	VNT
INGM	-0.1	-0.11		0.13	-0.23	0.35	-0.1	0.05	-0.07	0.15	INGM
G	-0.91	-0.77	0.13		-0.06	-0.04	-0.83	0.97	-0.9	-0.09	G
CWAN	0.22	0.35	-0.23	-0.06		-0.63	0.26	-0.01	0.23	0.42	CWAN
DLB	-0.02	0.07	0.35	-0.04	-0.63		-0.05	-0.12	0.01	-0.06	DLB
SMTC	0.89	0.73	-0.1	-0.83	0.26	-0.05		-0.85	0.91	0.34	SMTC
EXLS	-0.93	-0.82	0.05	0.97	-0.01	-0.12	-0.85		-0.93	-0.13	EXLS
ESE	0.93	0.85	-0.07	-0.9	0.23	0.01	0.91	-0.93		0.38	ESE
WEX	0.25	0.39	0.15	-0.09	0.42	-0.06	0.34	-0.13	0.38		WEX
	AVT	VNT	INGM	G	CWAN	DLB	SMTC	EXLS	ESE	WEX

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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

EXLS	+ 0.97	G
ESE	+ 0.93	AVT
ESE	+ 0.91	SMTC
SMTC	+ 0.89	AVT
ESE	+ 0.85	VNT
VNT	+ 0.83	AVT

High negative correlations

ESE	- 0.93	EXLS
EXLS	- 0.93	AVT
G	- 0.91	AVT
ESE	- 0.9	G
EXLS	- 0.85	SMTC
SMTC	- 0.83	G

Risk-Adjusted Indicators

There is a big difference between Arrow Stock performing well and Arrow Electronics 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 Arrow Electronics' 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
AVT	1.38	0.45	0.44	0.43	0.64	(1.98)	3.60	(1.75)	15.68
VNT	1.13	0.13	0.08	0.12	1.57	(1.13)	3.42	(2.57)	8.90
INGM	1.88	0.34	0.16	(0.40)	1.86	(2.09)	4.01	(3.85)	8.93
G	1.53	(0.06)	0.00	(0.05)	0.00	0.00	2.89	(2.57)	14.27
CWAN	0.76	0.10	0.08	0.20	0.99	(0.97)	1.58	(1.54)	9.67
DLB	1.11	(0.03)	0.00	(0.04)	0.00	0.00	2.67	(2.18)	9.25
SMTC	2.42	0.29	0.09	0.16	2.99	(2.72)	6.56	(5.62)	16.61
EXLS	1.67	(0.26)	0.00	(0.24)	0.00	0.00	1.94	(3.88)	20.62
ESE	1.58	0.39	0.21	0.33	1.55	(1.76)	3.09	(3.31)	9.94
WEX	1.81	0.19	0.08	0.11	2.16	(2.06)	3.59	(3.62)	14.87

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