Laser Photonics Correlations

LASE Stock

2.27 0.27 13.50%

The current 90-days correlation between Laser Photonics and Broadwind Energy is 0.23 (i.e., Modest diversification). The correlation of Laser Photonics 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.

Laser Photonics Correlation With Market

Weak diversification

The correlation between Laser Photonics and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Laser Photonics and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Laser Stock

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

For information on how to trade Laser Stock refer to our How to Trade Laser Stock guide.

Moving together with Laser Stock

0.66	HY	Hyster Yale Materials	Pair Corr
0.74	301053	Yoantion Industrial	Pair Corr
0.64	688700	Kunshan Dongwei Tech	Pair Corr
0.79	603109	Senci Electric Machinery	Pair Corr
0.87	HYFM	Hydrofarm Holdings	Pair Corr
0.82	605259	Lutian Machinery	Pair Corr
0.88	ILAG	Intelligent Living	Pair Corr
0.65	002786	Shenzhen Silver Basis	Pair Corr
0.84	002021	Zoje Resources Investment	Pair Corr
0.78	FLO	Flowtech Fluidpower plc	Pair Corr
0.81	300976	Dongguan Tarry Elect	Pair Corr

Moving against Laser Stock

0.9	PH	Parker Hannifin	Pair Corr
0.88	GTLS	Chart Industries	Pair Corr
0.85	RFG	Roebuck Food Group	Pair Corr
0.82	PRV	Porvair plc	Pair Corr
0.81	FLS	Flowserve	Pair Corr
0.8	WWD	Woodward	Pair Corr
0.66	600765	AVIC Heavy Machinery	Pair Corr
0.57	FTAIN	Fortress Transportation	Pair Corr
0.81	300385	Wuxi Xuelang Environ	Pair Corr
0.8	002532	Tianshan Aluminum	Pair Corr
0.76	605060	Allied Machinery	Pair Corr
0.72	600499	Keda Clean Energy	Pair Corr
0.46	300512	Hangzhou Zhongya Mac	Pair Corr
0.44	000821	JS Corrugating Machinery	Pair Corr
0.31	LECO	Lincoln Electric Holdings	Pair Corr

Related Correlations Analysis

	BWEN	PPSI	HTLM	DPRO	GWH	CLIR	ADSE	MAGH	PMEC	MPU
BWEN		-0.3	-0.66	-0.59	-0.52	-0.78	0.74	0.91	-0.64	0.19	BWEN
PPSI	-0.3		0.09	0.64	0.41	0.24	0.03	-0.28	0.6	0.22	PPSI
HTLM	-0.66	0.09		0.6	0.54	0.83	-0.65	-0.79	0.59	0.15	HTLM
DPRO	-0.59	0.64	0.6		0.55	0.63	-0.29	-0.64	0.72	0.15	DPRO
GWH	-0.52	0.41	0.54	0.55		0.59	-0.66	-0.62	0.56	-0.03	GWH
CLIR	-0.78	0.24	0.83	0.63	0.59		-0.75	-0.9	0.62	0.0	CLIR
ADSE	0.74	0.03	-0.65	-0.29	-0.66	-0.75		0.81	-0.46	0.36	ADSE
MAGH	0.91	-0.28	-0.79	-0.64	-0.62	-0.9	0.81		-0.7	0.08	MAGH
PMEC	-0.64	0.6	0.59	0.72	0.56	0.62	-0.46	-0.7		0.26	PMEC
MPU	0.19	0.22	0.15	0.15	-0.03	0.0	0.36	0.08	0.26		MPU
	BWEN	PPSI	HTLM	DPRO	GWH	CLIR	ADSE	MAGH	PMEC	MPU

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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

MAGH	+ 0.91	BWEN
CLIR	+ 0.83	HTLM
MAGH	+ 0.81	ADSE
ADSE	+ 0.74	BWEN
PMEC	+ 0.72	DPRO
DPRO	+ 0.64	PPSI

High negative correlations

MAGH	- 0.9	CLIR
MAGH	- 0.79	HTLM
CLIR	- 0.78	BWEN
ADSE	- 0.75	CLIR
PMEC	- 0.7	MAGH
ADSE	- 0.66	GWH

Risk-Adjusted Indicators

There is a big difference between Laser Stock performing well and Laser Photonics 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 Laser Photonics' 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
BWEN	4.54	0.65	0.15	0.37	4.45	(5.33)	11.37	(8.75)	28.93
PPSI	3.17	0.07	0.04	0.10	4.04	(3.24)	6.65	(6.91)	16.24
HTLM	3.73	(0.16)	0.00	(0.29)	0.00	0.00	7.30	(6.83)	26.61
DPRO	6.62	(0.14)	0.01	0.03	7.19	(7.41)	14.65	(11.13)	34.84
GWH	10.87	2.30	0.21	(1.93)	9.27	(14.42)	16.86	(16.24)	176.92
CLIR	4.82	(0.22)	0.00	(0.11)	0.00	0.00	11.76	(9.47)	35.38
ADSE	2.04	0.08	0.01	0.28	2.29	(2.52)	5.22	(3.37)	17.85
MAGH	5.98	2.88	0.50	(1.99)	2.92	(10.25)	25.78	(5.59)	44.43
PMEC	4.21	(0.84)	0.00	(0.47)	0.00	0.00	8.43	(9.79)	37.01
MPU	4.89	(0.46)	0.00	(0.03)	0.00	0.00	8.85	(12.39)	44.14

Laser Photonics Corporate Management

Arnold Bykov	Chief Engineer	Profile
Carlos Sardinas	Chief Officer	Profile
Brandon White	Vice Sales	Profile
Gennady Korotkov	Vice Operations	Profile

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