Coherent Correlations

COHR Stock

USD 280.81 18.10 6.06%

The current 90-days correlation between Coherent and Trimble is 0.24 (i.e., Modest diversification). The correlation of Coherent 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.

Coherent Correlation With Market

Very weak diversification

The correlation between Coherent and DJI is 0.58 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Coherent and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Coherent Stock

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

To learn how to invest in Coherent Stock, please use our How to Invest in Coherent guide.

Moving together with Coherent Stock

0.91	Q	Qnity Electronics	Pair Corr
0.8	FN	Fabrinet	Pair Corr
0.85	KN	Knowles Cor	Pair Corr
0.87	LFS	Littelfuse	Pair Corr
0.8	PX4	Plexus Corp	Pair Corr
0.74	AN1	Anritsu	Pair Corr
0.61	P4O	Plan Optik AG	Pair Corr
0.82	PJJ1	CHINA DISPLAY OTHHD	Pair Corr
0.73	PRHA	Prosegur Compaa de	Pair Corr
0.62	SATLW	Satellogic Warrant	Pair Corr
0.84	MKT	MKS Instruments	Pair Corr
0.69	MUR1	Murata Manufacturing	Pair Corr
0.86	VNI	Avnet Inc	Pair Corr
0.78	BRV	Brady	Pair Corr
0.93	H7B	COHERENT CORP	Pair Corr
0.72	BAERW	Bridger Aerospace	Pair Corr
0.73	MLI	MESA LABS INC	Pair Corr

Moving against Coherent Stock

0.85	EBON	Ebang International	Pair Corr
0.76	EVLV	Evolv Technologies	Pair Corr
0.72	EHGO	Eshallgo Class A	Pair Corr
0.6	AMPGW	AmpliTech Group	Pair Corr
0.58	KE	Kimball Electronics	Pair Corr
0.58	75S	SDM SE INH	Pair Corr
0.58	OTK	Otsuka	Pair Corr
0.49	OBD	Obducat AB	Pair Corr
0.37	ELSE	Electro Sensors	Pair Corr
0.78	IDN	Intellicheck Mobilisa	Pair Corr
0.76	BMI	Badger Meter	Pair Corr
0.66	SC3	ScanSource	Pair Corr
0.65	CDW	CDW Corp	Pair Corr
0.62	FCUV	Focus Universal	Pair Corr
0.62	SFPI	Groupe Sfpi	Pair Corr
0.59	WRAP	Wrap Technologies	Pair Corr
0.59	GEG	GEO Group	Pair Corr

Related Correlations Analysis

	TRMB	TDY	JBL	FTV	FLEX	FN	GFS	ASTS	SATS	SSNC
TRMB		-0.94	-0.81	-0.57	-0.16	-0.42	-0.81	-0.55	-0.46	0.86	TRMB
TDY	-0.94		0.9	0.65	0.24	0.61	0.91	0.55	0.52	-0.87	TDY
JBL	-0.81	0.9		0.68	0.42	0.73	0.84	0.52	0.59	-0.76	JBL
FTV	-0.57	0.65	0.68		0.12	0.39	0.45	0.11	0.3	-0.68	FTV
FLEX	-0.16	0.24	0.42	0.12		0.48	0.37	0.35	0.45	-0.11	FLEX
FN	-0.42	0.61	0.73	0.39	0.48		0.65	0.17	0.26	-0.5	FN
GFS	-0.81	0.91	0.84	0.45	0.37	0.65		0.51	0.51	-0.77	GFS
ASTS	-0.55	0.55	0.52	0.11	0.35	0.17	0.51		0.8	-0.19	ASTS
SATS	-0.46	0.52	0.59	0.3	0.45	0.26	0.51	0.8		-0.19	SATS
SSNC	0.86	-0.87	-0.76	-0.68	-0.11	-0.5	-0.77	-0.19	-0.19		SSNC
	TRMB	TDY	JBL	FTV	FLEX	FN	GFS	ASTS	SATS	SSNC

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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

GFS	+ 0.91	TDY
JBL	+ 0.9	TDY
SSNC	+ 0.86	TRMB
GFS	+ 0.84	JBL
SATS	+ 0.8	ASTS
FN	+ 0.73	JBL

High negative correlations

TDY	- 0.94	TRMB
SSNC	- 0.87	TDY
GFS	- 0.81	TRMB
JBL	- 0.81	TRMB
SSNC	- 0.77	GFS
SSNC	- 0.76	JBL

Risk-Adjusted Indicators

There is a big difference between Coherent Stock performing well and Coherent 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 Coherent'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
TRMB	1.47	(0.28)	0.00	(0.16)	0.00	0.00	2.30	(4.80)	8.84
TDY	1.18	0.45	0.37	0.47	0.72	(1.38)	3.04	(1.67)	12.10
JBL	1.95	0.31	0.11	0.27	2.53	(1.91)	4.42	(3.89)	12.47
FTV	1.37	0.10	0.06	0.11	1.78	(1.49)	2.68	(2.92)	15.82
FLEX	2.38	0.13	0.05	0.14	3.00	(2.57)	5.23	(3.75)	19.07
FN	3.38	0.41	0.10	0.27	4.22	(3.66)	6.29	(7.09)	22.54
GFS	2.53	0.49	0.17	0.70	2.45	(2.79)	5.77	(4.16)	20.30
ASTS	6.27	0.94	0.13	0.31	6.65	(6.11)	14.34	(10.59)	33.41
SATS	2.80	0.79	0.23	0.96	2.78	(3.22)	6.61	(4.85)	22.91
SSNC	1.22	(0.23)	0.00	(0.19)	0.00	0.00	2.83	(2.41)	13.44

Coherent Corporate Management

Craig Mullaney	Chief Advisor	Profile
Julie Eng	Chief Officer	Profile
Rob Beard	Chief Secretary	Profile
Beck Mason	Executive Telecommunications	Profile
Marie Martin	Chief Officer	Profile
Christopher Koeppen	Executive Defense	Profile

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