Veeco Instruments Correlations

VECO Stock

USD 32.18 0.42 1.29%

The current 90-days correlation between Veeco Instruments and Himax Technologies is 0.61 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Veeco Instruments moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Veeco Instruments moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Veeco Instruments Correlation With Market

Poor diversification

The correlation between Veeco Instruments and DJI is 0.7 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Veeco Instruments and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Veeco Stock

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

To learn how to invest in Veeco Stock, please use our How to Invest in Veeco Instruments guide.

Moving together with Veeco Stock

0.67	TSM	Taiwan Semiconductor Aggressive Push	Pair Corr
0.68	INTC	Intel	Pair Corr
0.83	AMKR	Amkor Technology Tech Boost	Pair Corr
0.61	BNKHF	BOC Hong Kong	Pair Corr
0.64	SECVY	Seche Environnement	Pair Corr

Moving against Veeco Stock

0.43

MOBX

Mobix Labs

Pair Corr

Related Correlations Analysis

	HIMX	LASR	PLAB	AAOI	DV	EVTC	PRGS	BELFB	DQ	PRCH
HIMX		0.37	0.58	0.45	0.45	0.2	0.54	0.38	-0.02	0.06	HIMX
LASR	0.37		0.78	0.9	-0.26	-0.24	0.0	0.98	-0.77	-0.77	LASR
PLAB	0.58	0.78		0.87	0.17	0.06	0.24	0.81	-0.54	-0.57	PLAB
AAOI	0.45	0.9	0.87		-0.07	-0.19	0.05	0.91	-0.65	-0.68	AAOI
DV	0.45	-0.26	0.17	-0.07		0.66	0.39	-0.24	0.34	0.36	DV
EVTC	0.2	-0.24	0.06	-0.19	0.66		0.1	-0.24	0.02	0.26	EVTC
PRGS	0.54	0.0	0.24	0.05	0.39	0.1		-0.01	0.38	0.3	PRGS
BELFB	0.38	0.98	0.81	0.91	-0.24	-0.24	-0.01		-0.77	-0.78	BELFB
DQ	-0.02	-0.77	-0.54	-0.65	0.34	0.02	0.38	-0.77		0.78	DQ
PRCH	0.06	-0.77	-0.57	-0.68	0.36	0.26	0.3	-0.78	0.78		PRCH
	HIMX	LASR	PLAB	AAOI	DV	EVTC	PRGS	BELFB	DQ	PRCH

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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

BELFB	+ 0.98	LASR
BELFB	+ 0.91	AAOI
AAOI	+ 0.9	LASR
AAOI	+ 0.87	PLAB
BELFB	+ 0.81	PLAB
PLAB	+ 0.78	LASR

High negative correlations

PRCH	- 0.78	BELFB
DQ	- 0.77	BELFB
PRCH	- 0.77	LASR
DQ	- 0.77	LASR
PRCH	- 0.68	AAOI
DQ	- 0.65	AAOI

Risk-Adjusted Indicators

There is a big difference between Veeco Stock performing well and Veeco Instruments 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 Veeco Instruments' 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	2.03	(0.01)	0.00	0.08	2.38	(2.13)	4.22	(3.88)	15.10
LASR	3.27	0.84	0.21	0.55	4.02	(3.67)	6.76	(6.19)	26.91
PLAB	3.47	0.65	0.25	0.29	2.92	(4.36)	6.21	(5.90)	54.22
AAOI	5.91	0.86	0.14	0.47	6.35	(6.59)	15.14	(12.51)	38.33
DV	1.82	(0.21)	0.00	(0.32)	0.00	0.00	3.71	(4.25)	18.09
EVTC	1.53	(0.19)	0.00	(0.09)	0.00	0.00	2.94	(3.14)	11.68
PRGS	1.70	(0.13)	0.00	(0.01)	0.00	0.00	3.47	(4.11)	14.73
BELFB	2.24	0.49	0.16	0.40	2.70	(2.35)	4.91	(4.41)	12.29
DQ	2.67	(0.23)	0.00	(0.45)	0.00	0.00	6.54	(6.41)	20.89
PRCH	2.51	(0.68)	0.00	(0.19)	0.00	0.00	4.22	(6.30)	16.76

Veeco Instruments Corporate Management

John Kiernan	Chief Accounting Officer, Sr. VP of Fin., Corporate Controller and Treasurer	Profile
Susan Wilkerson	Senior Services	Profile
Adrian Devasahayam	Senior Management	Profile
Monica DeMarco	Senior Experience	Profile
Peter Porshnev	Senior Engineering	Profile
Kirk Mackey	Head VP	Profile
Robert Bradshaw	Chief Officer	Profile

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