Fabrinet Correlations

FN Stock

USD 496.78 1.23 0.25%

The current 90-days correlation between Fabrinet and Fortive Corp is -0.07 (i.e., Good 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

Poor diversification

The correlation between Fabrinet and DJI is 0.65 (i.e., Poor 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 inflation.

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

Moving together with Fabrinet Stock

0.62	SOLI	Solid State Plc	Pair Corr
0.73	H7B	COHERENT CORP	Pair Corr

Moving against Fabrinet Stock

0.58	75S	SDM SE INH	Pair Corr
0.51	EHGO	Eshallgo Class A	Pair Corr
0.43	ELSE	Electro Sensors	Pair Corr
0.34	AMPGW	AmpliTech Group	Pair Corr
0.32	DSWL	Deswell Industries	Pair Corr
0.4	TDKA	TDK Corporation	Pair Corr
0.35	FCUV	Focus Universal Earnings Call This Week	Pair Corr

Related Correlations Analysis

	FTV	TRMB	MKSI	DT	GEN	ENTG	DOCU	BSY	LITE	ZBRA
FTV		-0.39	0.58	-0.65	-0.31	0.58	-0.51	-0.65	0.82	0.36	FTV
TRMB	-0.39		-0.84	0.87	0.91	-0.77	0.95	0.86	-0.64	0.36	TRMB
MKSI	0.58	-0.84		-0.9	-0.81	0.97	-0.9	-0.85	0.81	0.02	MKSI
DT	-0.65	0.87	-0.9		0.87	-0.84	0.93	0.93	-0.79	0.09	DT
GEN	-0.31	0.91	-0.81	0.87		-0.7	0.92	0.81	-0.6	0.29	GEN
ENTG	0.58	-0.77	0.97	-0.84	-0.7		-0.84	-0.77	0.77	0.13	ENTG
DOCU	-0.51	0.95	-0.9	0.93	0.92	-0.84		0.87	-0.75	0.15	DOCU
BSY	-0.65	0.86	-0.85	0.93	0.81	-0.77	0.87		-0.84	0.16	BSY
LITE	0.82	-0.64	0.81	-0.79	-0.6	0.77	-0.75	-0.84		0.26	LITE
ZBRA	0.36	0.36	0.02	0.09	0.29	0.13	0.15	0.16	0.26		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

ENTG	+ 0.97	MKSI
DOCU	+ 0.95	TRMB
DOCU	+ 0.93	DT
BSY	+ 0.93	DT
DOCU	+ 0.92	GEN
GEN	+ 0.91	TRMB

High negative correlations

DOCU	- 0.9	MKSI
DT	- 0.9	MKSI
BSY	- 0.85	MKSI
LITE	- 0.84	BSY
DOCU	- 0.84	ENTG
ENTG	- 0.84	DT

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	1.33	0.10	0.06	0.13	1.74	(1.45)	3.05	(2.92)	15.82
TRMB	1.57	(0.35)	0.00	(0.17)	0.00	0.00	2.91	(5.44)	9.57
MKSI	2.37	0.79	0.31	0.53	2.13	(2.87)	5.36	(4.17)	12.03
DT	1.60	(0.38)	0.00	(0.57)	0.00	0.00	2.62	(3.61)	13.36
GEN	1.36	(0.30)	0.00	(0.18)	0.00	0.00	2.15	(3.84)	12.64
ENTG	2.72	0.59	0.23	0.24	2.44	(3.08)	8.09	(4.46)	15.91
DOCU	2.23	(0.65)	0.00	(0.54)	0.00	0.00	3.08	(5.56)	18.12
BSY	1.37	(0.49)	0.00	(0.41)	0.00	0.00	3.02	(3.09)	10.70
LITE	4.66	1.44	0.23	1.19	5.40	(5.16)	10.17	(10.62)	29.96
ZBRA	1.82	(0.02)	0.00	0.03	2.18	(1.94)	4.28	(3.66)	12.05

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