Photronics Correlations

PLAB Stock

USD 33.93 1.26 3.58%

The current 90-days correlation between Photronics and Himax Technologies is 0.13 (i.e., Average diversification). The correlation of Photronics 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.

Photronics Correlation With Market

Very poor diversification

The correlation between Photronics and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Photronics and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Photronics Stock

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Photronics. 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.

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

Moving together with Photronics Stock

0.69	TSM	Taiwan Semiconductor	Pair Corr
0.81	AMKR	Amkor Technology Downward Rally	Pair Corr
0.69	FCAP	First Capital Trending	Pair Corr
0.83	BNKHF	BOC Hong Kong	Pair Corr
0.78	OBYCF	Obayashi Earnings Call This Week	Pair Corr

Moving against Photronics Stock

0.71	MOBX	Mobix Labs	Pair Corr
0.35	MRVL	Marvell Technology	Pair Corr
0.32	ACU	Aurora Solar Technologies	Pair Corr

Related Correlations Analysis

	HIMX	MXL	UCTT	LASR	CNXN	PLTK	VECO	ALIT	ADEA	PAR
HIMX		0.47	0.23	0.25	0.42	-0.05	0.48	0.13	0.31	0.06	HIMX
MXL	0.47		0.6	0.77	0.19	-0.06	0.71	-0.6	0.62	-0.1	MXL
UCTT	0.23	0.6		0.89	-0.1	-0.66	0.71	-0.75	0.79	-0.53	UCTT
LASR	0.25	0.77	0.89		0.07	-0.42	0.71	-0.81	0.8	-0.43	LASR
CNXN	0.42	0.19	-0.1	0.07		0.28	0.1	0.28	-0.08	0.11	CNXN
PLTK	-0.05	-0.06	-0.66	-0.42	0.28		-0.18	0.4	-0.55	0.52	PLTK
VECO	0.48	0.71	0.71	0.71	0.1	-0.18		-0.58	0.59	-0.04	VECO
ALIT	0.13	-0.6	-0.75	-0.81	0.28	0.4	-0.58		-0.67	0.35	ALIT
ADEA	0.31	0.62	0.79	0.8	-0.08	-0.55	0.59	-0.67		-0.2	ADEA
PAR	0.06	-0.1	-0.53	-0.43	0.11	0.52	-0.04	0.35	-0.2		PAR
	HIMX	MXL	UCTT	LASR	CNXN	PLTK	VECO	ALIT	ADEA	PAR

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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

LASR	+ 0.89	UCTT
ADEA	+ 0.8	LASR
ADEA	+ 0.79	UCTT
LASR	+ 0.77	MXL
VECO	+ 0.71	MXL
VECO	+ 0.71	UCTT

High negative correlations

ALIT	- 0.81	LASR
ALIT	- 0.75	UCTT
ADEA	- 0.67	ALIT
PLTK	- 0.66	UCTT
ALIT	- 0.6	MXL
ALIT	- 0.58	VECO

Risk-Adjusted Indicators

There is a big difference between Photronics Stock performing well and Photronics 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 Photronics' 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
HIMX	2.23	(0.25)	0.00	1.02	0.00	0.00	4.15	(4.72)	16.54
MXL	2.78	0.13	0.05	0.11	3.69	(2.95)	6.20	(6.25)	18.71
UCTT	3.20	0.66	0.19	0.34	3.44	(3.70)	7.86	(6.48)	17.36
LASR	3.23	0.47	0.12	0.29	4.16	(3.37)	6.51	(6.19)	23.42
CNXN	1.13	(0.06)	(0.03)	0.01	1.54	(1.15)	2.50	(2.11)	7.87
PLTK	1.74	(0.09)	0.00	(0.10)	0.00	0.00	2.99	(3.28)	17.80
VECO	2.08	0.06	0.00	0.50	2.65	(2.09)	4.73	(4.61)	13.14
ALIT	2.60	(0.86)	0.00	(0.56)	0.00	0.00	5.23	(5.56)	15.07
ADEA	2.67	0.01	0.02	0.06	4.00	(2.83)	4.89	(4.94)	36.55
PAR	2.75	(0.63)	0.00	(0.26)	0.00	0.00	5.68	(6.73)	27.57

Photronics Corporate Management

Christopher Lutzo	General VP	Profile
Todd Alesio	Vice Resources	Profile
Debbie Wierzbicki	Senior Control	Profile
H Park	Senior Operations	Profile
Rui Zhang	Chief Controller	Profile

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