Fabrinet Correlations

FN Stock

USD 461.24 25.67 5.27%

The current 90-days correlation between Fabrinet and Entegris is -0.15 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Fabrinet moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Fabrinet moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Fabrinet Correlation With Market

Good diversification

The correlation between Fabrinet and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fabrinet and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Fabrinet Stock

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

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

Moving together with Fabrinet Stock

0.61	301099	Shanghai Yct Electronics Split	Pair Corr
0.66	300502	Eoptolink Technology	Pair Corr
0.67	ELTK	Eltek	Pair Corr
0.7	601138	Foxconn Industrial	Pair Corr

Moving against Fabrinet Stock

0.67	AMPGW	AmpliTech Group	Pair Corr
0.66	300333	Sinosun Tech	Pair Corr
0.59	688053	Chengdu Screen Micro	Pair Corr
0.56	300449	Beijing Hanbang Tech	Pair Corr
0.77	EHGO	Eshallgo Class A	Pair Corr
0.61	SATLW	Satellogic Warrant	Pair Corr
0.44	300940	Shen Zhen Australis	Pair Corr
0.37	002134	Tianjin Printronics	Pair Corr
0.35	002819	Beijing Oriental Jicheng	Pair Corr
0.61	CENTUM	Centum Electronics	Pair Corr
0.57	688272	Beijing Fjr Optoelec	Pair Corr
0.5	001373	Jiangsu Topfly New	Pair Corr
0.46	000925	UniTTEC	Pair Corr
0.41	605066	Zhejiang Tengen Electrics	Pair Corr

Related Correlations Analysis

	ENTG	MKSI	DOCU	FTV	ZBRA	SNX	QXO	DT	KSPI	MANH
ENTG		0.78	0.17	0.63	-0.3	0.68	-0.22	0.2	-0.57	-0.32	ENTG
MKSI	0.78		-0.18	0.68	-0.66	0.61	-0.58	0.08	-0.86	-0.76	MKSI
DOCU	0.17	-0.18		-0.21	0.35	-0.1	0.48	0.19	0.32	0.49	DOCU
FTV	0.63	0.68	-0.21		-0.45	0.57	-0.38	0.14	-0.59	-0.53	FTV
ZBRA	-0.3	-0.66	0.35	-0.45		-0.38	0.67	0.01	0.71	0.88	ZBRA
SNX	0.68	0.61	-0.1	0.57	-0.38		-0.37	0.11	-0.53	-0.36	SNX
QXO	-0.22	-0.58	0.48	-0.38	0.67	-0.37		0.14	0.67	0.79	QXO
DT	0.2	0.08	0.19	0.14	0.01	0.11	0.14		-0.03	0.01	DT
KSPI	-0.57	-0.86	0.32	-0.59	0.71	-0.53	0.67	-0.03		0.79	KSPI
MANH	-0.32	-0.76	0.49	-0.53	0.88	-0.36	0.79	0.01	0.79		MANH
	ENTG	MKSI	DOCU	FTV	ZBRA	SNX	QXO	DT	KSPI	MANH

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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

MANH	+ 0.88	ZBRA
MANH	+ 0.79	QXO
MANH	+ 0.79	KSPI
MKSI	+ 0.78	ENTG
KSPI	+ 0.71	ZBRA
SNX	+ 0.68	ENTG

High negative correlations

KSPI	- 0.86	MKSI
MANH	- 0.76	MKSI
ZBRA	- 0.66	MKSI
KSPI	- 0.59	FTV
QXO	- 0.58	MKSI
KSPI	- 0.57	ENTG

Risk-Adjusted Indicators

There is a big difference between Fabrinet Stock performing well and Fabrinet 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 Fabrinet'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
ENTG	2.69	0.01	0.06	0.08	3.36	(2.91)	5.17	(5.38)	18.14
MKSI	2.46	0.57	0.19	0.34	2.91	(2.72)	6.07	(4.48)	18.46
DOCU	2.04	(0.25)	0.00	(0.04)	0.00	0.00	3.95	(4.13)	17.99
FTV	1.01	0.01	0.02	0.09	0.96	(1.23)	2.27	(1.63)	6.86
ZBRA	1.95	(0.50)	0.00	(0.12)	0.00	0.00	3.59	(3.47)	16.70
SNX	1.21	(0.07)	(0.03)	0.03	1.41	(1.27)	3.01	(2.25)	9.49
QXO	2.08	(0.19)	0.00	0.58	0.00	0.00	5.57	(4.28)	14.38
DT	1.45	(0.26)	0.00	(0.08)	0.00	0.00	3.25	(2.81)	10.08
KSPI	1.31	(0.40)	0.00	(7.16)	0.00	0.00	2.09	(2.71)	8.17
MANH	1.51	(0.39)	0.00	(0.13)	0.00	0.00	3.27	(3.39)	9.96

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