Microvision Correlations

MVIS Stock

USD 0.81 0.02 2.11%

The current 90-days correlation between Microvision and HP Inc is 0.16 (i.e., Average diversification). The correlation of Microvision 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Microvision Correlation With Market

Very good diversification

The correlation between Microvision and DJI is -0.49 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Microvision and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Microvision Stock

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

For more information on how to buy Microvision Stock please use our How to Invest in Microvision guide.

Moving together with Microvision Stock

0.61	KE	Kimball Electronics	Pair Corr
0.82	EBON	Ebang International	Pair Corr
0.64	EHGO	Eshallgo Class A	Pair Corr
0.62	OTK	Otsuka	Pair Corr
0.73	EVLV	Evolv Technologies	Pair Corr
0.74	WRAP	Wrap Technologies	Pair Corr

Moving against Microvision Stock

0.81	VNI	Avnet Inc	Pair Corr
0.79	PX4	Plexus Corp	Pair Corr
0.75	BRV	Brady	Pair Corr
0.74	LFS	Littelfuse	Pair Corr
0.7	PJJ1	CHINA DISPLAY OTHHD	Pair Corr
0.7	SATLW	Satellogic Warrant	Pair Corr
0.69	MKT	MKS Instruments	Pair Corr
0.63	KN	Knowles Cor	Pair Corr
0.63	PRHA	Prosegur Compaa de	Pair Corr
0.61	Q	Qnity Electronics	Pair Corr
0.58	H7B	COHERENT CORP	Pair Corr
0.38	AN1	Anritsu	Pair Corr
0.37	DSWL	Deswell Industries	Pair Corr
0.35	P4O	Plan Optik AG	Pair Corr
0.34	MQR1	MULTI CHEM LTD	Pair Corr
0.8	CTS	CTS Corporation	Pair Corr
0.79	AVT	Avnet Inc	Pair Corr
0.78	BHE	Benchmark Electronics	Pair Corr
0.77	ARW	Arrow Electronics	Pair Corr
0.73	TOY	TOYO	Pair Corr
0.66	BDC	Belden Inc	Pair Corr
0.66	GLW	Corning Incorporated	Pair Corr
0.6	BAERW	Bridger Aerospace	Pair Corr

Related Correlations Analysis

	FLEX	JBL	LDOS	BR	FTV	VRSN	COHR	TRMB	NTAP	HPQ
FLEX		0.42	-0.14	-0.16	0.12	-0.24	0.36	-0.16	0.03	-0.11	FLEX
JBL	0.42		-0.47	-0.85	0.68	-0.74	0.88	-0.81	-0.66	-0.84	JBL
LDOS	-0.14	-0.47		0.56	-0.36	0.7	-0.5	0.46	0.19	0.32	LDOS
BR	-0.16	-0.85	0.56		-0.67	0.83	-0.82	0.94	0.7	0.85	BR
FTV	0.12	0.68	-0.36	-0.67		-0.74	0.66	-0.57	-0.28	-0.51	FTV
VRSN	-0.24	-0.74	0.7	0.83	-0.74		-0.71	0.65	0.32	0.56	VRSN
COHR	0.36	0.88	-0.5	-0.82	0.66	-0.71		-0.78	-0.61	-0.76	COHR
TRMB	-0.16	-0.81	0.46	0.94	-0.57	0.65	-0.78		0.84	0.9	TRMB
NTAP	0.03	-0.66	0.19	0.7	-0.28	0.32	-0.61	0.84		0.92	NTAP
HPQ	-0.11	-0.84	0.32	0.85	-0.51	0.56	-0.76	0.9	0.92		HPQ
	FLEX	JBL	LDOS	BR	FTV	VRSN	COHR	TRMB	NTAP	HPQ

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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

TRMB	+ 0.94	BR
HPQ	+ 0.92	NTAP
HPQ	+ 0.9	TRMB
COHR	+ 0.88	JBL
HPQ	+ 0.85	BR
NTAP	+ 0.84	TRMB

High negative correlations

BR	- 0.85	JBL
HPQ	- 0.84	JBL
COHR	- 0.82	BR
TRMB	- 0.81	JBL
TRMB	- 0.78	COHR
HPQ	- 0.76	COHR

Risk-Adjusted Indicators

There is a big difference between Microvision Stock performing well and Microvision 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 Microvision'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
FLEX	2.38	0.13	0.05	0.14	3.00	(2.57)	5.23	(3.75)	19.07
JBL	1.95	0.31	0.11	0.27	2.53	(1.91)	4.42	(3.89)	12.47
LDOS	1.56	(0.10)	0.00	(0.06)	0.00	0.00	3.51	(2.62)	17.71
BR	1.21	(0.29)	0.00	(1.81)	0.00	0.00	2.03	(4.36)	8.27
FTV	1.37	0.10	0.06	0.11	1.78	(1.49)	2.68	(2.92)	15.82
VRSN	1.10	(0.11)	0.00	0.68	0.00	0.00	2.77	(2.96)	10.51
COHR	3.35	1.00	0.22	0.71	3.64	(3.56)	6.75	(6.63)	16.82
TRMB	1.47	(0.28)	0.00	(0.16)	0.00	0.00	2.30	(4.80)	8.84
NTAP	1.57	(0.22)	0.00	(0.09)	0.00	0.00	3.18	(2.89)	12.55
HPQ	1.60	(0.39)	0.00	(0.31)	0.00	0.00	2.85	(4.01)	8.82

Microvision Corporate Management

Drew Markham	Secretary Operations	Profile
James Johnston	Controller	Profile
Stephen Hrynewich	Vice Operations	Profile
Anubhav Verma	Senior Treasurer	Profile

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