Navitas Semiconductor Correlations

NVTS Stock

USD 3.05 0.07 2.35%

The current 90-days correlation between Navitas Semiconductor and Nano Labs is 0.09 (i.e., Significant diversification). The correlation of Navitas Semiconductor 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.

Navitas Semiconductor Correlation With Market

Average diversification

The correlation between Navitas Semiconductor Corp and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Navitas Semiconductor Corp 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 Navitas Semiconductor Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with Navitas Stock

0.76	TER	Teradyne Downward Rally	Pair Corr
0.84	AIBBU	AIB Acquisition Corp	Pair Corr
0.65	WMT	Walmart Aggressive Push	Pair Corr

Moving against Navitas Stock

0.81	INTC	Intel	Pair Corr
0.71	GNSS	Genasys	Pair Corr
0.66	HPQ	HP Inc	Pair Corr
0.47	SVRE	SaverOne 2014	Pair Corr
0.4	ACLS	Axcelis Technologies Earnings Call This Week	Pair Corr
0.33	AMAT	Applied Materials	Pair Corr
0.8	RMGCU	RMG Acquisition Corp	Pair Corr
0.65	JNJ	Johnson Johnson	Pair Corr
0.61	AA	Alcoa Corp	Pair Corr
0.59	TRV	The Travelers Companies	Pair Corr
0.39	CAT	Caterpillar Earnings Call This Week	Pair Corr
0.32	GE	GE Aerospace	Pair Corr
0.31	KO	Coca Cola Earnings Call This Week	Pair Corr

Related Correlations Analysis

	ON	MPWR	GFS	ADI	WKEY	NA	LEDS	WISA	LAES	SYNA
ON		0.36	0.09	0.37	-0.63	-0.23	-0.72	0.26	-0.57	-0.49	ON
MPWR	0.36		-0.49	0.8	-0.28	-0.41	-0.27	0.02	-0.26	-0.44	MPWR
GFS	0.09	-0.49		-0.19	0.15	0.36	0.08	-0.04	0.15	0.52	GFS
ADI	0.37	0.8	-0.19		-0.27	-0.18	-0.11	-0.14	-0.23	-0.1	ADI
WKEY	-0.63	-0.28	0.15	-0.27		0.39	0.52	0.11	0.91	0.4	WKEY
NA	-0.23	-0.41	0.36	-0.18	0.39		0.14	-0.2	0.34	0.5	NA
LEDS	-0.72	-0.27	0.08	-0.11	0.52	0.14		-0.43	0.4	0.66	LEDS
WISA	0.26	0.02	-0.04	-0.14	0.11	-0.2	-0.43		0.33	-0.43	WISA
LAES	-0.57	-0.26	0.15	-0.23	0.91	0.34	0.4	0.33		0.38	LAES
SYNA	-0.49	-0.44	0.52	-0.1	0.4	0.5	0.66	-0.43	0.38		SYNA
	ON	MPWR	GFS	ADI	WKEY	NA	LEDS	WISA	LAES	SYNA

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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

LAES	+ 0.91	WKEY
ADI	+ 0.8	MPWR
SYNA	+ 0.66	LEDS
SYNA	+ 0.52	GFS
LEDS	+ 0.52	WKEY
SYNA	+ 0.5	NA

High negative correlations

LEDS	- 0.72	ON
WKEY	- 0.63	ON
LAES	- 0.57	ON
GFS	- 0.49	MPWR
SYNA	- 0.49	ON
SYNA	- 0.44	MPWR

Risk-Adjusted Indicators

There is a big difference between Navitas Stock performing well and Navitas Semiconductor 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 Navitas Semiconductor'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
ON	2.06	(0.37)	0.00	(0.56)	0.00	0.00	3.57	(5.50)	11.47
MPWR	2.69	(0.49)	0.00	(0.91)	0.00	0.00	4.79	(6.62)	22.25
GFS	2.09	0.05	0.04	0.11	2.11	(2.62)	5.30	(3.42)	19.29
ADI	1.40	(0.13)	0.00	(0.27)	0.00	0.00	2.21	(3.05)	9.00
WKEY	12.58	3.75	0.34	(2.04)	8.79	(17.40)	36.67	(21.25)	163.77
NA	10.89	1.95	0.16	(0.90)	9.70	(14.52)	17.03	(18.70)	160.41
LEDS	4.50	0.52	0.07	(6.91)	5.85	(4.89)	9.09	(10.71)	52.60
WISA	4.21	(0.12)	0.00	0.17	0.00	0.00	10.68	(8.54)	34.97
LAES	16.14	5.69	0.42	(1.47)	10.69	(26.49)	60.15	(21.48)	143.29
SYNA	2.41	0.31	0.12	0.57	2.18	(3.02)	8.07	(3.57)	12.99

Navitas Semiconductor Corporate Management

Paul Delva	General VP	Profile
Daniel Kinzer	CTO, CoFounder	Profile
Ranbir Singh	Executive Business	Profile
Todd Glickman	Interim Treasurer	Profile
Ronald Shelton	Executive Officer	Profile
Stephen Oliver	Vice Relations	Profile
David Carroll	Senior Sales	Profile

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