Laser Photonics Correlations

LASE Stock

0.73 0.04 5.19%

The current 90-days correlation between Laser Photonics and HomesToLife is -0.05 (i.e., Good 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

Pay attention - limited upside

The correlation between Laser Photonics and DJI is -0.77 (i.e., Pay attention - limited upside) 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 main economic indicators.

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

Moving together with Laser Stock

0.72	INRN	Interroll Holding	Pair Corr
0.74	FQ4	OCEAN GEOLOOP AS	Pair Corr
0.62	D7G	Nel ASA	Pair Corr
0.75	7YA	M VEST WATER	Pair Corr

Moving against Laser Stock

0.93	IR	Ingersoll Rand	Pair Corr
0.92	PH	Parker Hannifin	Pair Corr
0.88	OSG	OSG Corporation	Pair Corr
0.87	HI	Hillenbrand	Pair Corr
0.8	0ACC	Accelleron Industries	Pair Corr
0.8	21T	Bodycote PLC	Pair Corr
0.78	HY	Hyster Yale Materials	Pair Corr
0.73	FUCA	FANUC PUNSPADR 110	Pair Corr
0.66	TE	T1 Energy Symbol Change	Pair Corr
0.64	PL	Planet Labs PBC	Pair Corr
0.49	CR	Crane Company	Pair Corr
0.39	VATE	Innovate Corp	Pair Corr
0.91	IMI1	IMI plc	Pair Corr
0.9	HZ8	Insteel Industries	Pair Corr
0.84	EAAS	Eenergy Group PLC	Pair Corr
0.82	DZR	AVINGTRANS LS 05 Earnings Call This Week	Pair Corr
0.74	STGN	Starrag Group Holding	Pair Corr
0.7	JUN3	Jungheinrich AG ONVZO	Pair Corr
0.66	NVJP	Umicore SA Earnings Call This Week	Pair Corr
0.6	MBH3	Maschinenfabrik Berthold	Pair Corr
0.56	CE3	Chongqing Machinery	Pair Corr
0.51	KC4	KONE Oyj	Pair Corr
0.43	4RX0	ZURN ELKAY WATER	Pair Corr
0.35	GCP	General Electric	Pair Corr
0.89	ILT	Illinois Tool Works	Pair Corr
0.88	PFV	Pfeiffer Vacuum Tech	Pair Corr
0.84	EMR	Emerson Electric	Pair Corr
0.79	EPAC	Enerpac Tool Group	Pair Corr
0.78	NDX1	Nordex SE Earnings Call This Week	Pair Corr
0.76	0MO	DMG Mori	Pair Corr

Related Correlations Analysis

	BWEN	PPSI	HTLM	DPRO	GWH	CLIR	ADSE	MAGH	PMEC	MPU
BWEN		0.59	-0.17	0.63	-0.29	0.02	0.67	0.48	0.32	0.23	BWEN
PPSI	0.59		-0.5	0.75	-0.34	-0.16	0.44	0.51	0.09	-0.21	PPSI
HTLM	-0.17	-0.5		-0.37	0.66	0.37	-0.01	-0.55	0.5	0.57	HTLM
DPRO	0.63	0.75	-0.37		-0.13	0.26	0.31	0.25	0.12	-0.22	DPRO
GWH	-0.29	-0.34	0.66	-0.13		0.64	-0.24	-0.86	0.58	0.34	GWH
CLIR	0.02	-0.16	0.37	0.26	0.64		-0.29	-0.71	0.22	0.12	CLIR
ADSE	0.67	0.44	-0.01	0.31	-0.24	-0.29		0.57	0.41	0.46	ADSE
MAGH	0.48	0.51	-0.55	0.25	-0.86	-0.71	0.57		-0.25	-0.04	MAGH
PMEC	0.32	0.09	0.5	0.12	0.58	0.22	0.41	-0.25		0.49	PMEC
MPU	0.23	-0.21	0.57	-0.22	0.34	0.12	0.46	-0.04	0.49		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

DPRO	+ 0.75	PPSI
ADSE	+ 0.67	BWEN
GWH	+ 0.66	HTLM
CLIR	+ 0.64	GWH
DPRO	+ 0.63	BWEN
PPSI	+ 0.59	BWEN

High negative correlations

MAGH	- 0.86	GWH
MAGH	- 0.71	CLIR
MAGH	- 0.55	HTLM
HTLM	- 0.5	PPSI
DPRO	- 0.37	HTLM
GWH	- 0.34	PPSI

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	4.95	0.44	0.06	0.28	7.30	(5.48)	11.11	(9.66)	51.85
PPSI	3.44	(0.17)	0.00	(0.02)	0.00	0.00	8.30	(6.91)	23.29
HTLM	5.41	(0.39)	0.00	(5.91)	0.00	0.00	11.20	(12.79)	51.89
DPRO	5.33	(0.10)	0.00	0.01	6.34	(5.71)	13.03	(9.44)	37.73
GWH	4.48	(1.56)	0.00	(0.43)	0.00	0.00	6.71	(10.19)	38.59
CLIR	4.39	(0.26)	0.00	0.38	0.00	0.00	8.20	(9.33)	37.67
ADSE	2.42	0.07	0.01	0.32	2.84	(2.85)	5.22	(4.65)	18.67
MAGH	4.72	2.77	0.00	(1.47)	0.00	0.00	25.78	(0.57)	44.43
PMEC	3.71	(0.48)	0.00	1.11	0.00	0.00	6.86	(8.86)	28.97
MPU	5.10	0.00	0.00	0.04	6.16	(6.31)	8.85	(12.61)	44.14

Laser Photonics Corporate Management

Nicole Joyce	VP Communications	Profile
Ann Tewari	Executive Strategy	Profile
Gennady Korotkov	Vice Operations	Profile
Matthew Nigro	Vice Marketing	Profile
Kevin Ploche	Principal Officer	Profile

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