EMCORE Correlations

Summary

EMKRDelisted Stock

USD 3.10 0.01 0.32%

The current 90-days correlation between EMCORE and Pixelworks is 0.03 (i.e., Significant diversification). The correlation of EMCORE 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.

EMCORE Correlation With Market

Good diversification

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

Check out Investing Opportunities to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in industry.

Moving together with EMCORE Stock

0.81	CICHF	China Construction Bank	Pair Corr
0.88	CVX	Chevron Corp	Pair Corr
0.8	AA	Alcoa Corp	Pair Corr
0.79	BAC	Bank of America	Pair Corr
0.74	DD	Dupont De Nemours Earnings Call Next Week	Pair Corr
0.77	XOM	Exxon Mobil Corp	Pair Corr
0.77	PFE	Pfizer Inc	Pair Corr
0.8	DIS	Walt Disney	Pair Corr
0.84	CAT	Caterpillar	Pair Corr
0.71	GE	GE Aerospace Earnings Call Tomorrow	Pair Corr
0.7	INTC	Intel Earnings Call This Week	Pair Corr
0.71	BA	Boeing Earnings Call Next Week	Pair Corr
0.77	MSFT	Microsoft Aggressive Push	Pair Corr
0.8	CSCO	Cisco Systems	Pair Corr

Moving against EMCORE Stock

0.71	MCD	McDonalds	Pair Corr
0.51	PG	Procter Gamble Earnings Call Next Week	Pair Corr
0.44	VZ	Verizon Communications Aggressive Push	Pair Corr
0.42	KO	Coca Cola Earnings Call Tomorrow	Pair Corr

Related Correlations Analysis

	PXLW	VLN	CEVA	QUIK	NVTS	MX	MXL	NVEC	MTSI	GSIT
PXLW		0.51	0.23	0.34	0.1	0.23	0.55	0.27	0.36	0.62	PXLW
VLN	0.51		0.63	0.36	-0.21	0.06	0.36	0.08	0.14	0.58	VLN
CEVA	0.23	0.63		-0.03	-0.45	-0.47	-0.24	-0.54	-0.41	0.04	CEVA
QUIK	0.34	0.36	-0.03		0.52	0.62	0.76	0.68	0.76	0.65	QUIK
NVTS	0.1	-0.21	-0.45	0.52		0.74	0.69	0.77	0.82	0.36	NVTS
MX	0.23	0.06	-0.47	0.62	0.74		0.83	0.91	0.9	0.53	MX
MXL	0.55	0.36	-0.24	0.76	0.69	0.83		0.87	0.91	0.77	MXL
NVEC	0.27	0.08	-0.54	0.68	0.77	0.91	0.87		0.93	0.66	NVEC
MTSI	0.36	0.14	-0.41	0.76	0.82	0.9	0.91	0.93		0.62	MTSI
GSIT	0.62	0.58	0.04	0.65	0.36	0.53	0.77	0.66	0.62		GSIT
	PXLW	VLN	CEVA	QUIK	NVTS	MX	MXL	NVEC	MTSI	GSIT

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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

MTSI	+ 0.93	NVEC
NVEC	+ 0.91	MX
MTSI	+ 0.91	MXL
MTSI	+ 0.9	MX
NVEC	+ 0.87	MXL
MXL	+ 0.83	MX

High negative correlations

NVEC	- 0.54	CEVA
MX	- 0.47	CEVA
NVTS	- 0.45	CEVA
MTSI	- 0.41	CEVA
MXL	- 0.24	CEVA
NVTS	- 0.21	VLN

Risk-Adjusted Indicators

There is a big difference between EMCORE Stock performing well and EMCORE 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 EMCORE'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
PXLW	5.38	0.78	0.14	1.51	4.60	(6.52)	11.70	(8.05)	53.83
VLN	3.07	0.25	0.06	0.38	3.50	(4.01)	6.70	(4.85)	21.50
CEVA	2.38	(0.12)	(0.02)	0.05	3.98	(2.78)	5.50	(4.02)	28.76
QUIK	3.36	0.18	0.07	0.23	3.62	(3.87)	8.14	(4.71)	21.60
NVTS	8.67	3.05	0.65	1.40	3.83	(12.78)	14.14	(6.99)	177.07
MX	2.46	0.54	0.21	0.66	2.06	(3.09)	6.29	(4.46)	17.85
MXL	2.49	0.61	0.20	0.57	2.80	(2.89)	5.76	(4.03)	18.12
NVEC	1.59	0.38	0.23	0.50	1.23	(1.87)	3.72	(2.35)	16.09
MTSI	1.43	0.42	0.23	0.54	1.16	(1.56)	4.74	(2.27)	9.83
GSIT	3.12	1.03	0.38	1.03	2.22	(4.24)	8.97	(4.33)	17.46

View EMCORE Related Equities

Pixelworks Valens CEVA Inc QuickLogic Navitas Semiconductor Corp MagnaChip Semiconductor MaxLinear NVE Corporation MACOM Technology Solutions GSI Technology Alpha and Omega Silicon Laboratories Diodes Incorporated Power Integrations Lattice Semiconductor

Risk & Return

Correlation

EMCORE Corporate Management

Ryan JD	General VP	Profile
David Wojciechowski	Marketing Sales	Profile
Thomas Minichiello	Chief Officer	Profile
Marc Cavagnolo	VP Devel	Profile
Hank Blauvelt	Chief Officer	Profile

Still Interested in EMCORE?

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