Fabrinet Correlations

FN Stock

USD 478.32 3.42 0.71%

The current 90-days correlation between Fabrinet and Teledyne Technologies Incorporated is 0.31 (i.e., Weak 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 0.47 (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

0.66	300771	Shenzhen Zhilai Sci	Pair Corr
0.63	300259	Suntront Tech	Pair Corr
0.64	688053	Chengdu Screen Micro	Pair Corr
0.68	002134	Tianjin Printronics	Pair Corr
0.75	603556	Hexing Electrical	Pair Corr

Moving against Fabrinet Stock

0.81	300333	Sinosun Tech	Pair Corr
0.74	000938	Unisplendour Corp	Pair Corr
0.71	AMPGW	AmpliTech Group	Pair Corr
0.68	002960	Jade Bird Fire	Pair Corr
0.61	DSWL	Deswell Industries Tech Boost	Pair Corr
0.53	VRME	VerifyMe	Pair Corr
0.52	603936	Bomin Electronics	Pair Corr
0.8	EHGO	Eshallgo Class A	Pair Corr
0.69	EBON	Ebang International	Pair Corr
0.68	ELSE	Electro Sensors	Pair Corr
0.56	002819	Beijing Oriental Jicheng	Pair Corr
0.46	000988	Huagong Tech	Pair Corr
0.41	SOLI	Solid State Plc	Pair Corr
0.41	ELTK	Eltek	Pair Corr
0.37	SATLW	Satellogic Warrant	Pair Corr
0.53	002402	Shenzhen HT Intelligent	Pair Corr
0.51	000050	Tianma Microelectronics	Pair Corr
0.47	300065	Beijing Highlander	Pair Corr
0.4	EVLV	Evolv Technologies	Pair Corr

Related Correlations Analysis

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

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
BR	- 0.27	FTV

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
TDY	1.10	(0.21)	0.00	(0.12)	0.00	0.00	1.75	(1.97)	7.20
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

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