Skywater Technology Correlations

SKYT Stock

USD 11.73 0.18 1.56%

The current 90-days correlation between Skywater Technology and Canadian Solar is -0.11 (i.e., Good diversification). The correlation of Skywater Technology 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.

Skywater Technology Correlation With Market

Average diversification

The correlation between Skywater Technology and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Skywater Technology and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Skywater Technology. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

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

Moving together with Skywater Stock

0.76	RUMBW	Rumble Inc Tech Boost	Pair Corr
0.69	CIEN	Ciena Corp	Pair Corr

Moving against Skywater Stock

0.74	HPQ	HP Inc	Pair Corr
0.68	INTC	Intel Earnings Call Tomorrow	Pair Corr
0.65	ANY	Sphere 3D Corp	Pair Corr
0.56	PTAIY	Astra International Tbk	Pair Corr
0.55	TLKMF	Telkom Indonesia Tbk	Pair Corr
0.54	TXN	Texas Instruments Fiscal Year End 28th of January 2025	Pair Corr
0.5	MCHP	Microchip Technology	Pair Corr
0.48	NXPI	NXP Semiconductors Sell-off Trend	Pair Corr
0.45	MU	Micron Technology Aggressive Push	Pair Corr
0.37	ROG	Rogers	Pair Corr
0.35	GREEL	Greenidge Generation	Pair Corr
0.32	TLK	Telkom Indonesia Tbk	Pair Corr
0.8	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr
0.78	AA	Alcoa Corp	Pair Corr
0.77	PTAIF	PT Astra International	Pair Corr
0.77	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.74	PIFMF	PT Indofood Sukses	Pair Corr
0.74	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr
0.73	PTITF	PT Indosat Tbk	Pair Corr
0.68	VZ	Verizon Communications Fiscal Year End 28th of January 2025	Pair Corr
0.54	JNJ	Johnson Johnson Earnings Call Today	Pair Corr
0.5	GE	GE Aerospace Fiscal Year End 28th of January 2025	Pair Corr

Related Correlations Analysis

	FSLR	RUN	CSIQ	SEDG	NOVA	JKS	MAXN
FSLR		0.73	0.73	0.61	0.74	0.23	-0.04	FSLR
RUN	0.73		0.79	0.79	0.89	-0.03	-0.06	RUN
CSIQ	0.73	0.79		0.69	0.72	0.41	0.18	CSIQ
SEDG	0.61	0.79	0.69		0.68	0.2	-0.21	SEDG
NOVA	0.74	0.89	0.72	0.68		0.04	-0.04	NOVA
JKS	0.23	-0.03	0.41	0.2	0.04		-0.01	JKS
MAXN	-0.04	-0.06	0.18	-0.21	-0.04	-0.01		MAXN
	FSLR	RUN	CSIQ	SEDG	NOVA	JKS	MAXN

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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

NOVA	+ 0.89	RUN
CSIQ	+ 0.79	RUN
SEDG	+ 0.79	RUN
NOVA	+ 0.74	FSLR
RUN	+ 0.73	FSLR
CSIQ	+ 0.73	FSLR

High negative correlations

MAXN	- 0.21	SEDG
MAXN	- 0.06	RUN
MAXN	- 0.04	NOVA
MAXN	- 0.04	FSLR
JKS	- 0.03	RUN
MAXN	- 0.01	JKS

Risk-Adjusted Indicators

There is a big difference between Skywater Stock performing well and Skywater Technology 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 Skywater Technology'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
FSLR	2.38	(0.11)	0.00	1.37	0.00	0.00	4.34	(4.58)	15.51
RUN	3.66	(0.60)	0.00	(0.82)	0.00	0.00	8.11	(9.05)	38.57
CSIQ	3.78	(0.11)	0.00	(0.42)	0.00	0.00	8.27	(7.84)	35.56
SEDG	5.16	(0.16)	0.00	0.38	0.00	0.00	11.74	(14.78)	31.42
NOVA	6.04	(0.54)	0.00	(0.41)	0.00	0.00	14.31	(13.08)	65.87
JKS	3.87	0.05	0.00	(2.47)	5.07	(3.93)	7.64	(6.45)	32.08
MAXN	7.41	0.59	0.07	(3.22)	7.65	(9.02)	15.60	(13.22)	59.83

Skywater Technology Corporate Management

Christopher Hilberg	General Officer	Profile
Sudhakar Adivikolanu	Senior Technology	Profile
Steve Manko	Chief Officer	Profile
Brad Ferguson	Senior Programs	Profile
Steven Kosier	Chief Officer	Profile
Ross Miller	Senior Business	Profile

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