Amtech Systems Correlations

ASYS Stock

USD 11.42 0.43 3.91%

The current 90-days correlation between Amtech Systems and Transocean is -0.28 (i.e., Very good diversification). The correlation of Amtech Systems 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.

Amtech Systems Correlation With Market

Poor diversification

The correlation between Amtech Systems and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Amtech Systems and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Amtech Stock

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

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

Moving together with Amtech Stock

0.62	DIOD	Diodes Incorporated Tech Boost	Pair Corr
0.84	MU	Micron Technology Aggressive Push	Pair Corr
0.64	MX	MagnaChip Semiconductor Earnings Call Tomorrow	Pair Corr
0.72	ON	ON Semiconductor Tech Boost	Pair Corr
0.62	CV3	Carpevigo Holding	Pair Corr
0.77	AMK	Amkor Technology	Pair Corr
0.82	ASM	ASM International	Pair Corr
0.7	ALKAL	Kalray SA	Pair Corr
0.65	KU1	Kulicke and Soffa	Pair Corr
0.62	TEY	Teradyne	Pair Corr
0.71	INL	Intel	Pair Corr
0.69	SPRQ	Sparq Systems	Pair Corr
0.87	CTNK	Centrotherm International	Pair Corr
0.78	ANL	Analog Devices Earnings Call Tomorrow	Pair Corr
0.73	ENTG	Entegris	Pair Corr
0.65	WAF	Siltronic AG	Pair Corr
0.82	ROM	ROHM Co	Pair Corr
0.68	VNX	NXP Semiconductors	Pair Corr
0.69	2DQ	ASE TECHNHLDGCOLTD	Pair Corr
0.79	ASME	ASML Holding NV	Pair Corr
0.79	ASMF	ASML HOLDING NY	Pair Corr
0.76	BSI	BE Semiconductor Ind Earnings Call This Week	Pair Corr
0.82	UMCB	United Microelectronics	Pair Corr

Moving against Amtech Stock

0.8	5PZ	SOLTEC POWER HOLD Split	Pair Corr
0.73	L5A	Canadian Solar	Pair Corr
0.71	DQ	Daqo New Energy	Pair Corr
0.71	QCE	Global PVQ SE	Pair Corr
0.53	NA	Nano Labs	Pair Corr
0.32	8KH	TOREX SEMICONDUCTOR LTD	Pair Corr
0.85	ARM	Arm Holdings plc	Pair Corr
0.68	CAN	Canaan Inc	Pair Corr
0.45	FSLR	First Solar	Pair Corr
0.37	2ED	SolarEdge Technologies Earnings Call Tomorrow	Pair Corr
0.36	STM	Stabilus SA	Pair Corr
0.31	WOLF	Wolfspeed Buyout Trend	Pair Corr

Related Correlations Analysis

	RUN	CVI	MUR	VVV	CRC	VAL	MGY	PBF	RIG
RUN		-0.22	-0.04	0.35	0.32	0.21	0.41	0.13	0.35	RUN
CVI	-0.22		-0.32	-0.38	-0.34	-0.15	-0.34	0.44	-0.48	CVI
MUR	-0.04	-0.32		0.2	0.16	0.33	0.19	-0.28	0.31	MUR
VVV	0.35	-0.38	0.2		0.91	0.83	0.9	0.43	0.9	VVV
CRC	0.32	-0.34	0.16	0.91		0.8	0.97	0.48	0.92	CRC
VAL	0.21	-0.15	0.33	0.83	0.8		0.79	0.41	0.88	VAL
MGY	0.41	-0.34	0.19	0.9	0.97	0.79		0.45	0.91	MGY
PBF	0.13	0.44	-0.28	0.43	0.48	0.41	0.45		0.29	PBF
RIG	0.35	-0.48	0.31	0.9	0.92	0.88	0.91	0.29		RIG
	RUN	CVI	MUR	VVV	CRC	VAL	MGY	PBF	RIG

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

MGY	+ 0.97	CRC
RIG	+ 0.92	CRC
CRC	+ 0.91	VVV
RIG	+ 0.91	MGY
MGY	+ 0.9	VVV
RIG	+ 0.9	VVV

High negative correlations

RIG	- 0.48	CVI
VVV	- 0.38	CVI
MGY	- 0.34	CVI
CRC	- 0.34	CVI
MUR	- 0.32	CVI
PBF	- 0.28	MUR

Risk-Adjusted Indicators

There is a big difference between Amtech Stock performing well and Amtech Systems 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 Amtech Systems' 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
RUN	3.67	(0.01)	0.02	0.06	4.26	(3.95)	6.21	(7.71)	20.73
CVI	2.05	(0.72)	0.00	(0.90)	0.00	0.00	3.78	(4.46)	19.04
MUR	2.29	0.22	0.08	0.26	2.74	(2.59)	4.80	(3.91)	19.80
VVV	1.62	0.26	0.15	0.29	1.45	(1.89)	3.83	(2.86)	10.00
CRC	1.59	0.28	0.12	0.54	1.69	(1.72)	3.61	(3.17)	8.47
VAL	2.73	0.85	0.30	0.71	2.12	(3.21)	7.22	(4.78)	39.09
MGY	1.43	0.27	0.13	0.63	1.50	(1.57)	3.08	(2.92)	8.43
PBF	2.74	(0.17)	0.00	(0.31)	0.00	0.00	5.20	(5.87)	19.72
RIG	2.31	0.64	0.20	0.53	2.43	(2.56)	7.67	(4.73)	15.17

Amtech Systems Corporate Management

Louis Golato	Vice Operations	Profile
Shashi Gupta	Senior Solutions	Profile
Wade Jenke	Chief Officer	Profile
Paul Lancaster	Vice Development	Profile

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