Onto Innovation Correlations

ONTO Stock

USD 160.55 1.31 0.81%

The current 90-days correlation between Onto Innovation and Universal Display is 0.45 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Onto Innovation moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Onto Innovation moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Onto Innovation Correlation With Market

Very weak diversification

The correlation between Onto Innovation and DJI is 0.47 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Onto Innovation and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Onto Stock

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Onto Innovation. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

To learn how to invest in Onto Stock, please use our How to Invest in Onto Innovation guide.

Moving together with Onto Stock

0.65	MU	Micron Technology Aggressive Push	Pair Corr
0.8	ON	ON Semiconductor	Pair Corr
0.72	001270	Zhejiang Chengchang	Pair Corr
0.78	688313	Henan Shijia Photons	Pair Corr
0.77	688127	Zhejiang Lante Optics	Pair Corr
0.91	ADI	Analog Devices	Pair Corr
0.77	AIP	Arteris	Pair Corr
0.67	FORM	FormFactor	Pair Corr

Moving against Onto Stock

0.76	NA	Nano Labs	Pair Corr
0.62	605111	Wuxi Nce Power	Pair Corr
0.39	688515	Motorcomm Electronic	Pair Corr
0.31	688123	Giantec Semiconductor	Pair Corr
0.4	301095	Semitronix Corp A	Pair Corr
0.39	301297	Ferrotec Technology	Pair Corr
0.37	688536	3Peak Inc	Pair Corr
0.33	688049	Actions Technology	Pair Corr
0.32	603160	Shenzhen Goodix Tech	Pair Corr
0.54	ARM	Arm Holdings plc	Pair Corr
0.43	CVV	CVD Equipment	Pair Corr
0.39	CAN	Canaan Inc	Pair Corr

Related Correlations Analysis

	OLED	CRUS	CAMT	SMTC	EXLS	DLB	FOUR	KD	WAY	G
OLED		0.76	0.64	-0.32	0.28	0.53	0.7	0.81	0.71	-0.83	OLED
CRUS	0.76		0.65	0.0	0.26	0.33	0.41	0.71	0.45	-0.51	CRUS
CAMT	0.64	0.65		0.31	-0.06	0.07	0.17	0.43	0.24	-0.52	CAMT
SMTC	-0.32	0.0	0.31		0.07	-0.12	-0.32	-0.13	-0.45	0.5	SMTC
EXLS	0.28	0.26	-0.06	0.07		0.7	0.37	0.69	-0.01	0.21	EXLS
DLB	0.53	0.33	0.07	-0.12	0.7		0.78	0.76	0.32	-0.2	DLB
FOUR	0.7	0.41	0.17	-0.32	0.37	0.78		0.7	0.71	-0.56	FOUR
KD	0.81	0.71	0.43	-0.13	0.69	0.76	0.7		0.47	-0.45	KD
WAY	0.71	0.45	0.24	-0.45	-0.01	0.32	0.71	0.47		-0.79	WAY
G	-0.83	-0.51	-0.52	0.5	0.21	-0.2	-0.56	-0.45	-0.79		G
	OLED	CRUS	CAMT	SMTC	EXLS	DLB	FOUR	KD	WAY	G

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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

KD	+ 0.81	OLED
FOUR	+ 0.78	DLB
CRUS	+ 0.76	OLED
KD	+ 0.76	DLB
WAY	+ 0.71	OLED
KD	+ 0.71	CRUS

High negative correlations

G	- 0.83	OLED
G	- 0.79	WAY
G	- 0.56	FOUR
G	- 0.52	CAMT
G	- 0.51	CRUS
G	- 0.45	KD

Risk-Adjusted Indicators

There is a big difference between Onto Stock performing well and Onto Innovation 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 Onto Innovation'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
OLED	1.83	(0.40)	0.00	(0.19)	0.00	0.00	3.28	(4.26)	13.35
CRUS	1.40	(0.18)	0.00	(0.03)	0.00	0.00	2.83	(3.20)	12.16
CAMT	2.76	0.02	0.02	0.09	3.27	(2.92)	7.15	(5.48)	15.59
SMTC	2.85	0.26	0.10	0.20	3.11	(3.19)	5.78	(5.62)	23.90
EXLS	1.00	(0.06)	0.00	(0.02)	0.00	0.00	1.84	(1.90)	8.81
DLB	0.89	(0.18)	0.00	(0.17)	0.00	0.00	1.54	(2.40)	5.74
FOUR	1.68	(0.43)	0.00	(0.19)	0.00	0.00	4.21	(3.29)	11.05
KD	1.44	(0.32)	0.00	(0.15)	0.00	0.00	2.58	(4.59)	9.16
WAY	1.60	(0.27)	0.00	(0.10)	0.00	0.00	2.73	(3.77)	11.66
G	1.12	0.13	0.11	0.23	0.94	(1.47)	1.80	(2.00)	18.44

Onto Innovation Corporate Management

Edward Brown	Independent Director	Profile
Jeffrey Aukerman	Independent Director	Profile
Rodney Smedt	Senior Vice President General Manager - Metrology Business Unit	Profile
Brian CPA	Chief Officer	Profile
Yoon OH	Vice President General Counsel	Profile
Shirley Chen	Senior success	Profile
Christine Tsingos	Independent Director	Profile

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