Avnet Correlations

The correlation of Avnet is a statistical measure of how it moves in relation to other equities. 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 Avnet moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Avnet Inc 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.
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The ability to find closely correlated positions to Avnet could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Avnet 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 Avnet - 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 Avnet Inc to buy it.

Related Correlations

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Correlation Matchups

The Correlation Coefficient is a useful tool to identify correlated or non-correlated securities, which is essential in developing a diversified portfolio. It tells us the relationship between two positions you have in your portfolio or considering acquiring. Over a given time period, the two securities movetogether 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   
FUBER
FMSFT
AMSFT
AF
UBERMSFT
XOMJPM
  
High negative correlations   
TF
TUBER
MRKTWTR
TTWTR
MRKF
MRKUBER

Avnet Competition Risk-Adjusted Indicators

Nowadays, there is a big difference between Avnet stock performing well and Avnet company doing well compared to the competition. There are way too many exceptions to the normal that investors can tell for sure what's good or bad unless they analyze Avnet's multiple risk-adjusted performance indicators. 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
Information
Ratio
Expected
Shortfall
Potential
Upside
Value
At Risk
Maximum
Drawdown
TWTR 2.29 (0.19)  0.00 (0.22)  0.00 (0.06)  0.00  4.00 (5.55)  17.65 
MSFT 1.67  0.06  0.03  0.03  2.15  0.0259 (1.72)  2.97 (4.10)  7.83 
UBER 3.64  0.35  0.07  0.18  4.63  0.07 (3.67)  6.40 (7.19)  19.40 
F 2.64  0.14  0.04  0.05  3.18  0.0374 (2.85)  5.27 (5.54)  16.83 
T 1.14 (0.12)  0.00 (0.18)  0.00 (0.07)  0.00  2.00 (2.45)  10.60 
A 1.89  0.12  0.05  0.08  2.22  0.048 (2.06)  4.22 (3.24)  8.98 
CRM 2.48  0.15  0.05  0.07  2.88  0.043 (2.69)  5.77 (4.63)  16.84 
JPM 1.40 (0.07)  0.00 (0.08)  0.00 (0.0408)  0.00  3.03 (2.43)  10.79 
MRK 0.98  0.04  0.04  0.10  1.25  0.0376 (0.97)  1.83 (2.50)  6.96 
XOM 2.06  0.06  0.02  0.04  3.03  0.0217 (1.84)  3.33 (4.21)  10.43 

Avnet Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Avnet stock to make a market-neutral strategy. Peer analysis of Avnet could also be used in its relative valuation, which is a method of valuing Avnet by comparing valuation metrics with similar companies.
Amn Healthcare ServicesTwist Bioscience CorpFreedom Holding CorpKEURIG DR PEPPERGX Nasdaq-100 CoveredFranklin Mutual EuropeanGARDNER DENVER INCUSA Value FactorBetapro Canadian GoldAramark Holdings CorpLong-Term Govt BondLIFE STORAGE INCMaiden Holdings NorthVistra Energy CorpExxon Mobil Corp
 Risk & Return  Correlation

Avnet Corporate Directors

Avnet corporate directors refer to members of an Avnet board of directors. The board of directors generally takes responsibility for the Avnet'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 Avnet's board members must vote for the resolution. The Avnet board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.
Michael Bradley - Independent DirectorProfile
Oleg Khaykin - DirectorProfile
Kerry Clark - Independent DirectorProfile
Vincent Keenan - VP & Director - Investor RelationsProfile

Invested in Avnet Inc?

You need to understand the risk of investing before taking a position in Avnet. The danger of trading Avnet Inc 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 Avnet 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 Avnet. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Avnet Inc 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.
Please continue to Trending Equities. Note that the Avnet Inc information on this page should be used as a complementary analysis to other Avnet's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.

Other Tools for Avnet Stock

When running Avnet Inc price analysis, check to measure Avnet'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 Avnet is operating at the current time. Most of Avnet's value examination focuses on studying past and present price action to predict the probability of Avnet's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move Avnet's price. Additionally, you may evaluate how the addition of Avnet to your portfolios can decrease your overall portfolio volatility.
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