Qnity Electronics Correlations

Q Stock

111.69 3.15 2.90%

The current 90-days correlation between Qnity Electronics and Amkor Technology is 0.53 (i.e., Very weak diversification). The correlation of Qnity Electronics 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.

Qnity Electronics Correlation With Market

Poor diversification

The correlation between Qnity Electronics and DJI is 0.76 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Qnity Electronics and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Qnity Stock

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

To learn how to invest in Qnity Stock, please use our How to Invest in Qnity Electronics guide.

Moving together with Qnity Stock

0.86	KN	Knowles Cor	Pair Corr
0.84	LFS	Littelfuse	Pair Corr
0.77	PX4	Plexus Corp	Pair Corr
0.7	P4O	Plan Optik AG	Pair Corr
0.73	PJJ1	CHINA DISPLAY OTHHD	Pair Corr
0.75	VRME	VerifyMe	Pair Corr
0.7	PRHA	Prosegur Compaa de	Pair Corr
0.79	SATLW	Satellogic Warrant	Pair Corr
0.91	MKT	MKS Instruments Earnings Call This Week	Pair Corr
0.67	VNI	Avnet Inc	Pair Corr
0.65	BRV	Brady Earnings Call This Week	Pair Corr
0.74	H7B	COHERENT CORP	Pair Corr
0.82	BAERW	Bridger Aerospace	Pair Corr
0.64	MLI	MESA LABS INC	Pair Corr
0.63	SRT	SRT Marine Systems	Pair Corr

Moving against Qnity Stock

0.52	EBON	Ebang International	Pair Corr
0.49	EHGO	Eshallgo Class A	Pair Corr
0.37	OBD	Obducat AB	Pair Corr
0.36	EVLV	Evolv Technologies	Pair Corr
0.35	ELSE	Electro Sensors	Pair Corr
0.31	AMPGW	AmpliTech Group	Pair Corr
0.72	IDN	Intellicheck Mobilisa	Pair Corr
0.71	BMI	Badger Meter	Pair Corr
0.68	FCUV	Focus Universal	Pair Corr
0.59	CDW	CDW Corp	Pair Corr
0.47	TDKA	TDK Corporation	Pair Corr
0.31	HHP2	Hon Hai Precision	Pair Corr

Related Correlations Analysis

	ACLS	ADCT	AMAT	AMKR	CIEN	COMS	ENTG	FORM	KLAC	LRCX
ACLS		-0.39	0.73	0.83	0.51	0.02	0.54	0.42	0.68	0.68	ACLS
ADCT	-0.39		-0.3	-0.4	-0.24	-0.21	-0.21	-0.11	-0.37	-0.32	ADCT
AMAT	0.73	-0.3		0.9	0.83	-0.15	0.62	0.48	0.73	0.96	AMAT
AMKR	0.83	-0.4	0.9		0.76	-0.09	0.52	0.38	0.63	0.86	AMKR
CIEN	0.51	-0.24	0.83	0.76		-0.05	0.61	0.54	0.58	0.84	CIEN
COMS	0.02	-0.21	-0.15	-0.09	-0.05		-0.1	-0.04	-0.19	-0.18	COMS
ENTG	0.54	-0.21	0.62	0.52	0.61	-0.1		0.94	0.88	0.69	ENTG
FORM	0.42	-0.11	0.48	0.38	0.54	-0.04	0.94		0.8	0.57	FORM
KLAC	0.68	-0.37	0.73	0.63	0.58	-0.19	0.88	0.8		0.81	KLAC
LRCX	0.68	-0.32	0.96	0.86	0.84	-0.18	0.69	0.57	0.81		LRCX
	ACLS	ADCT	AMAT	AMKR	CIEN	COMS	ENTG	FORM	KLAC	LRCX

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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

LRCX	+ 0.96	AMAT
FORM	+ 0.94	ENTG
AMKR	+ 0.9	AMAT
KLAC	+ 0.88	ENTG
LRCX	+ 0.86	AMKR
LRCX	+ 0.84	CIEN

High negative correlations

AMKR	- 0.4	ADCT
ADCT	- 0.39	ACLS
KLAC	- 0.37	ADCT
LRCX	- 0.32	ADCT
AMAT	- 0.3	ADCT
CIEN	- 0.24	ADCT

Risk-Adjusted Indicators

There is a big difference between Qnity Stock performing well and Qnity Electronics 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 Qnity Electronics' 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
ACLS	2.47	0.02	0.03	0.07	2.76	(2.71)	5.63	(4.79)	12.52
ADCT	3.24	0.05	0.01	0.10	4.37	(3.66)	8.49	(7.06)	22.84
AMAT	2.37	0.57	0.19	0.41	2.59	(2.53)	5.75	(4.08)	13.55
AMKR	3.38	0.37	0.12	0.18	3.76	(3.62)	8.71	(7.33)	20.29
CIEN	3.22	0.57	0.13	0.43	4.10	(3.60)	9.22	(7.31)	23.22
COMS	53.60	24.85	0.54	11.20	17.98	(153.39)	61.54	(28.57)	1,506
ENTG	2.70	0.83	0.32	0.39	2.17	(3.16)	8.09	(3.78)	15.91
FORM	2.71	1.11	0.36	1.00	2.43	(3.31)	6.39	(3.87)	19.67
KLAC	2.42	0.37	0.10	0.26	3.79	(2.46)	5.69	(4.20)	22.94
LRCX	2.78	0.47	0.15	0.30	3.06	(3.05)	7.00	(5.07)	17.49

Qnity Electronics Corporate Executives

Elected by the shareholders, the Qnity Electronics' board of directors comprises two types of representatives: Qnity Electronics inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Qnity. The board's role is to monitor Qnity Electronics' management team and ensure that shareholders' interests are well served. Qnity Electronics' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Qnity Electronics' outside directors are responsible for providing unbiased perspectives on the board's policies.

Michael Goss

VP, CFO

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