Coherent Correlations

COHR Stock

USD 227.68 18.44 8.81%

The current 90-days correlation between Coherent and Trimble is 0.31 (i.e., Weak 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 poor diversification

The correlation between Coherent and DJI is 0.84 (i.e., Very poor 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

0.75	ARW	Arrow Electronics Tech Boost	Pair Corr
0.78	AVT	Avnet Inc	Pair Corr
0.64	BDC	Belden Inc Earnings Call This Week	Pair Corr
0.77	BHE	Benchmark Electronics Tech Boost	Pair Corr
0.83	CTS	CTS Corporation	Pair Corr
0.82	GLW	Corning Incorporated Tech Boost	Pair Corr
0.8	SCE	Schweizer Electronic	Pair Corr
0.88	JBL	Jabil Circuit	Pair Corr
0.89	ROG	Rogers	Pair Corr
0.77	TDY	Teledyne Technologies	Pair Corr
0.68	ARW	Arrow Electronics	Pair Corr
0.91	BELFB	Bel Fuse B Tech Boost	Pair Corr

Moving against Coherent Stock

0.79	EHGO	Eshallgo Class A	Pair Corr
0.71	HOLO	MicroCloud Hologram	Pair Corr
0.69	TTG	TT Electronics Plc	Pair Corr
0.68	WBX	Wallbox NV	Pair Corr
0.67	ELSE	Electro Sensors	Pair Corr
0.63	GFAI	Guardforce AI	Pair Corr
0.61	LPL	LG Display	Pair Corr
0.55	ZEPP	Zepp Health Corp	Pair Corr
0.46	ELTK	Eltek	Pair Corr
0.42	DLB	Dolby Laboratories	Pair Corr
0.85	REFR	Research Frontiers	Pair Corr
0.72	SXC	Sunny Optical Technology	Pair Corr
0.72	KSCP	Knightscope	Pair Corr
0.64	SNT	Sabien Technology	Pair Corr
0.63	RGTI	Rigetti Computing Buyout Trend	Pair Corr
0.51	RVSN	Rail Vision Upward Rally	Pair Corr
0.39	UVD	Universal Display	Pair Corr
0.33	INVE	Identiv	Pair Corr

Related Correlations Analysis

	TRMB	TDY	JBL	FTV	FLEX	FN	GFS	ASTS	SATS	SSNC
TRMB		-0.84	-0.49	-0.23	-0.03	-0.02	-0.54	-0.63	-0.38	0.75	TRMB
TDY	-0.84		0.8	0.45	0.34	0.41	0.85	0.9	0.69	-0.5	TDY
JBL	-0.49	0.8		0.62	0.63	0.76	0.83	0.87	0.86	-0.08	JBL
FTV	-0.23	0.45	0.62		0.24	0.34	0.45	0.43	0.65	-0.08	FTV
FLEX	-0.03	0.34	0.63	0.24		0.81	0.53	0.51	0.54	0.17	FLEX
FN	-0.02	0.41	0.76	0.34	0.81		0.65	0.59	0.6	0.29	FN
GFS	-0.54	0.85	0.83	0.45	0.53	0.65		0.88	0.79	-0.13	GFS
ASTS	-0.63	0.9	0.87	0.43	0.51	0.59	0.88		0.86	-0.19	ASTS
SATS	-0.38	0.69	0.86	0.65	0.54	0.6	0.79	0.86		0.09	SATS
SSNC	0.75	-0.5	-0.08	-0.08	0.17	0.29	-0.13	-0.19	0.09		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

ASTS	+ 0.9	TDY
ASTS	+ 0.88	GFS
ASTS	+ 0.87	JBL
SATS	+ 0.86	JBL
SATS	+ 0.86	ASTS
GFS	+ 0.85	TDY

High negative correlations

TDY	- 0.84	TRMB
ASTS	- 0.63	TRMB
GFS	- 0.54	TRMB
SSNC	- 0.5	TDY
JBL	- 0.49	TRMB
SATS	- 0.38	TRMB

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	1.48	(0.41)	0.00	(0.15)	0.00	0.00	2.88	(4.80)	9.57
TDY	1.27	0.26	0.20	0.31	0.98	(1.49)	3.04	(1.92)	11.58
JBL	1.98	0.17	0.06	0.21	2.69	(1.89)	4.41	(5.03)	12.48
FTV	1.16	0.21	0.14	0.30	1.15	(1.35)	3.05	(2.36)	10.52
FLEX	2.49	(0.07)	(0.01)	0.03	3.22	(2.62)	5.40	(4.33)	19.07
FN	3.38	0.11	0.04	0.13	4.48	(3.48)	5.94	(7.07)	17.48
GFS	2.20	0.23	0.09	0.29	2.33	(2.37)	5.58	(4.16)	12.30
ASTS	6.14	0.53	0.10	0.23	6.33	(6.56)	14.34	(10.59)	30.31
SATS	2.86	0.59	0.18	0.79	2.76	(3.38)	5.98	(3.69)	22.91
SSNC	1.06	(0.19)	0.00	(0.15)	0.00	0.00	1.74	(2.13)	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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