Everspin Technologies Correlations

MRAM Stock

USD 5.73 0.01 0.17%

The current 90-days correlation between Everspin Technologies and CEVA Inc is 0.42 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Everspin Technologies moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Everspin Technologies moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Everspin Technologies Correlation With Market

Weak diversification

The correlation between Everspin Technologies and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Everspin Technologies and DJI in the same portfolio, assuming nothing else is changed.

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

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

Moving together with Everspin Stock

0.76

DIOD

Diodes Incorporated

Pair Corr

Moving against Everspin Stock

0.53	EPAM	EPAM Systems	Pair Corr
0.5	IT	Gartner	Pair Corr
0.45	IBM	International Business	Pair Corr
0.34	CDW	CDW Corp	Pair Corr
0.79	688372	Shanghai V Test	Pair Corr
0.63	CTSH	Cognizant Technology	Pair Corr
0.62	ACN	Accenture plc	Pair Corr
0.57	LLY	Eli Lilly	Pair Corr
0.56	SSYS	Stratasys	Pair Corr
0.55	MMSI	Merit Medical Systems	Pair Corr
0.53	COST	Costco Wholesale Corp	Pair Corr
0.44	PLTR	Palantir Technologies Aggressive Push	Pair Corr
0.4	META	Meta Platforms Aggressive Push	Pair Corr
0.31	WMT	Walmart Earnings Call This Week	Pair Corr

Related Correlations Analysis

	MTSI	POWI	DIOD	CEVA	SLAB	MXL	AMKR	WKEY	NA
MTSI		0.59	0.69	0.31	0.02	0.64	0.72	0.14	0.45	MTSI
POWI	0.59		0.77	-0.19	-0.41	-0.02	0.75	-0.33	0.35	POWI
DIOD	0.69	0.77		0.11	-0.18	0.38	0.82	0.14	0.5	DIOD
CEVA	0.31	-0.19	0.11		0.89	0.72	-0.14	0.72	0.34	CEVA
SLAB	0.02	-0.41	-0.18	0.89		0.52	-0.45	0.68	0.09	SLAB
MXL	0.64	-0.02	0.38	0.72	0.52		0.3	0.69	0.38	MXL
AMKR	0.72	0.75	0.82	-0.14	-0.45	0.3		-0.05	0.33	AMKR
WKEY	0.14	-0.33	0.14	0.72	0.68	0.69	-0.05		0.18	WKEY
NA	0.45	0.35	0.5	0.34	0.09	0.38	0.33	0.18		NA
	MTSI	POWI	DIOD	CEVA	SLAB	MXL	AMKR	WKEY	NA

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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

SLAB	+ 0.89	CEVA
AMKR	+ 0.82	DIOD
DIOD	+ 0.77	POWI
AMKR	+ 0.75	POWI
AMKR	+ 0.72	MTSI
MXL	+ 0.72	CEVA

High negative correlations

AMKR	- 0.45	SLAB
SLAB	- 0.41	POWI
WKEY	- 0.33	POWI
CEVA	- 0.19	POWI
SLAB	- 0.18	DIOD
AMKR	- 0.14	CEVA

Risk-Adjusted Indicators

There is a big difference between Everspin Stock performing well and Everspin Technologies 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 Everspin Technologies' 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
MTSI	1.98	(0.14)	0.00	(0.13)	0.00	0.00	3.35	(3.51)	20.65
POWI	1.77	(0.15)	0.00	(0.19)	0.00	0.00	2.58	(3.33)	10.93
DIOD	2.30	(0.25)	0.00	(0.21)	0.00	0.00	3.69	(4.29)	13.33
CEVA	2.05	0.33	0.18	0.23	1.69	(2.83)	5.64	(3.10)	11.77
SLAB	2.09	0.46	0.19	0.52	2.08	(2.36)	5.45	(3.95)	12.34
MXL	3.82	0.15	0.03	0.09	5.80	(3.98)	7.51	(7.36)	30.86
AMKR	1.68	(0.25)	0.00	(0.63)	0.00	0.00	3.13	(3.21)	15.29
WKEY	12.72	3.60	0.34	(1.82)	9.08	(17.13)	36.67	(21.25)	163.77
NA	10.43	2.74	0.29	1.11	8.33	(13.57)	17.03	(14.74)	160.41

Everspin Technologies Corporate Management

David Schrenk	Vice Development	Profile
Aparna Oka	Corporate Controller	Profile
William Cooper	Chief Officer	Profile
Kerry Nagel	Vice Technology	Profile
Matthew Tenorio	Interim Officer	Profile
Anuj Aggarwal	Chief Officer	Profile

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