Flex Correlations

FLEX Stock

USD 62.02 0.54 0.86%

The current 90-days correlation between Flex and Teledyne Technologies Incorporated is 0.23 (i.e., Modest diversification). The correlation of Flex 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.

Flex Correlation With Market

Very weak diversification

The correlation between Flex and DJI is 0.44 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Flex and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Flex Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Flex. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

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

Moving together with Flex Stock

0.76	FN	Fabrinet	Pair Corr
0.61	688053	Chengdu Screen Micro	Pair Corr

Moving against Flex Stock

0.68	DSWL	Deswell Industries Tech Boost	Pair Corr
0.43	300333	Sinosun Tech	Pair Corr
0.42	002960	Jade Bird Fire	Pair Corr
0.4	300449	Beijing Hanbang Tech	Pair Corr
0.37	AMPGW	AmpliTech Group	Pair Corr
0.35	000938	Unisplendour Corp	Pair Corr
0.43	ELSE	Electro Sensors	Pair Corr
0.38	EHGO	Eshallgo Class A	Pair Corr
0.37	000727	TPV Technology	Pair Corr
0.47	002402	Shenzhen HT Intelligent	Pair Corr

Related Correlations Analysis

	TDY	JBL	VRSN	NTAP	LDOS	FTV	PTC	BR	TRMB	TTD
TDY		-0.16	0.79	0.77	0.18	-0.64	0.85	0.71	0.03	0.76	TDY
JBL	-0.16		-0.3	0.14	-0.18	0.57	-0.2	-0.16	0.61	-0.38	JBL
VRSN	0.79	-0.3		0.52	-0.01	-0.57	0.59	0.76	0.01	0.46	VRSN
NTAP	0.77	0.14	0.52		0.11	-0.45	0.75	0.51	0.39	0.64	NTAP
LDOS	0.18	-0.18	-0.01	0.11		-0.23	0.17	-0.15	0.03	0.38	LDOS
FTV	-0.64	0.57	-0.57	-0.45	-0.23		-0.79	-0.27	0.4	-0.86	FTV
PTC	0.85	-0.2	0.59	0.75	0.17	-0.79		0.5	-0.02	0.92	PTC
BR	0.71	-0.16	0.76	0.51	-0.15	-0.27	0.5		0.2	0.33	BR
TRMB	0.03	0.61	0.01	0.39	0.03	0.4	-0.02	0.2		-0.15	TRMB
TTD	0.76	-0.38	0.46	0.64	0.38	-0.86	0.92	0.33	-0.15		TTD
	TDY	JBL	VRSN	NTAP	LDOS	FTV	PTC	BR	TRMB	TTD

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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

TTD	+ 0.92	PTC
PTC	+ 0.85	TDY
VRSN	+ 0.79	TDY
NTAP	+ 0.77	TDY
TTD	+ 0.76	TDY
BR	+ 0.76	VRSN

High negative correlations

TTD	- 0.86	FTV
PTC	- 0.79	FTV
FTV	- 0.64	TDY
FTV	- 0.57	VRSN
FTV	- 0.45	NTAP
TTD	- 0.38	JBL

Risk-Adjusted Indicators

There is a big difference between Flex Stock performing well and Flex 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 Flex'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
TDY	1.10	(0.21)	0.00	(0.12)	0.00	0.00	1.75	(1.97)	7.20
JBL	1.89	(0.03)	0.01	0.06	2.95	(1.74)	3.63	(5.24)	9.93
VRSN	1.04	(0.26)	0.00	(0.35)	0.00	0.00	1.93	(2.77)	7.38
NTAP	1.38	(0.25)	0.00	(0.12)	0.00	0.00	3.17	(2.85)	8.54
LDOS	1.11	(0.07)	(0.06)	(0.01)	1.49	(1.08)	2.11	(2.64)	6.28
FTV	0.92	0.15	0.13	0.25	0.87	(1.06)	2.11	(1.41)	5.25
PTC	1.03	(0.30)	0.00	(0.18)	0.00	0.00	1.48	(2.39)	11.28
BR	0.72	(0.08)	0.00	(0.12)	0.00	0.00	1.15	(1.92)	5.47
TRMB	1.27	(0.12)	(0.03)	0.01	2.05	(1.16)	2.51	(2.74)	9.57
TTD	1.86	(0.35)	0.00	(0.32)	0.00	0.00	3.16	(4.10)	11.62

Flex Corporate Management

Gus Shahin	Chief Officer	Profile
Silvia Gianelli	Senior Communications	Profile
David Rubin	Vice Relations	Profile
Daniel Wendler	Chief Officer	Profile

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