Fabrinet Correlations

FN Stock

USD 470.39 17.97 3.68%

The current 90-days correlation between Fabrinet and Fortive Corp is 0.11 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Fabrinet moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Fabrinet moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Fabrinet Correlation With Market

Very weak diversification

The correlation between Fabrinet and DJI is 0.4 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fabrinet and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Fabrinet Stock

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

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

Moving together with Fabrinet Stock

0.65	KE	Kimball Electronics	Pair Corr
0.62	300502	Eoptolink Technology	Pair Corr

Moving against Fabrinet Stock

0.58	EHGO	Eshallgo Class A	Pair Corr
0.52	300333	Sinosun Tech	Pair Corr
0.49	ELSE	Electro Sensors	Pair Corr
0.44	AMPGW	AmpliTech Group	Pair Corr
0.43	EBON	Ebang International	Pair Corr
0.31	ELTK	Eltek	Pair Corr
0.7	002402	Shenzhen HT Intelligent	Pair Corr
0.52	002456	Shenzhen O Film	Pair Corr
0.4	FCUV	Focus Universal	Pair Corr

Related Correlations Analysis

	FTV	TRMB	MKSI	DT	GEN	ENTG	DOCU	BSY	LITE	ZBRA
FTV		0.2	0.68	-0.77	0.42	0.26	-0.27	-0.86	0.94	-0.47	FTV
TRMB	0.2		-0.21	0.27	0.54	-0.22	0.68	0.13	0.14	0.34	TRMB
MKSI	0.68	-0.21		-0.83	-0.14	0.75	-0.66	-0.65	0.71	-0.29	MKSI
DT	-0.77	0.27	-0.83		0.06	-0.34	0.75	0.9	-0.8	0.63	DT
GEN	0.42	0.54	-0.14	0.06		-0.17	0.43	-0.18	0.3	0.17	GEN
ENTG	0.26	-0.22	0.75	-0.34	-0.17		-0.43	-0.07	0.23	0.27	ENTG
DOCU	-0.27	0.68	-0.66	0.75	0.43	-0.43		0.53	-0.32	0.44	DOCU
BSY	-0.86	0.13	-0.65	0.9	-0.18	-0.07	0.53		-0.9	0.76	BSY
LITE	0.94	0.14	0.71	-0.8	0.3	0.23	-0.32	-0.9		-0.55	LITE
ZBRA	-0.47	0.34	-0.29	0.63	0.17	0.27	0.44	0.76	-0.55		ZBRA
	FTV	TRMB	MKSI	DT	GEN	ENTG	DOCU	BSY	LITE	ZBRA

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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

LITE	+ 0.94	FTV
BSY	+ 0.9	DT
ZBRA	+ 0.76	BSY
ENTG	+ 0.75	MKSI
DOCU	+ 0.75	DT
LITE	+ 0.71	MKSI

High negative correlations

LITE	- 0.9	BSY
BSY	- 0.86	FTV
DT	- 0.83	MKSI
LITE	- 0.8	DT
DT	- 0.77	FTV
DOCU	- 0.66	MKSI

Risk-Adjusted Indicators

There is a big difference between Fabrinet Stock performing well and Fabrinet 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 Fabrinet'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
FTV	1.06	0.09	0.06	0.19	1.22	(1.21)	2.40	(2.08)	8.01
TRMB	1.34	(0.31)	0.00	(0.09)	0.00	0.00	2.64	(3.70)	9.57
MKSI	2.43	0.63	0.24	0.54	2.32	(2.95)	5.36	(4.83)	17.56
DT	1.42	(0.33)	0.00	(0.44)	0.00	0.00	2.62	(3.61)	8.63
GEN	1.03	(0.15)	0.00	(0.08)	0.00	0.00	2.26	(1.83)	7.70
ENTG	2.58	0.22	0.12	0.18	2.83	(2.76)	6.73	(4.46)	11.66
DOCU	1.90	(0.33)	0.00	(0.28)	0.00	0.00	3.81	(4.99)	12.28
BSY	1.07	(0.50)	0.00	(0.44)	0.00	0.00	2.01	(2.67)	6.25
LITE	4.83	1.24	0.21	0.74	5.21	(5.17)	10.17	(10.62)	36.83
ZBRA	1.79	(0.44)	0.00	(0.14)	0.00	0.00	3.01	(4.13)	15.40

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