IPG Photonics Correlations

IPGP Stock

USD 74.63 0.19 0.26%

The current 90-days correlation between IPG Photonics and Ultra Clean Holdings is 0.51 (i.e., Very weak diversification). The correlation of IPG Photonics 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.

IPG Photonics Correlation With Market

Poor diversification

The correlation between IPG Photonics and DJI is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding IPG Photonics and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with IPG Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in IPG Photonics. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

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

Moving together with IPG Stock

0.83	VECO	Veeco Instruments	Pair Corr
0.71	INTT	inTest	Pair Corr
0.95	LRCX	Lam Research Corp	Pair Corr
0.92	AMAT	Applied Materials	Pair Corr
0.82	ASYS	Amtech Systems	Pair Corr
0.86	AXTI	AXT Inc	Pair Corr
0.95	COHU	Cohu Inc	Pair Corr
0.75	UCTT	Ultra Clean Holdings Earnings Call This Week	Pair Corr
0.88	MU	Micron Technology	Pair Corr
0.88	MX	MagnaChip Semiconductor	Pair Corr
0.92	ON	ON Semiconductor	Pair Corr
0.9	VRRM	Verra Mobility Corp	Pair Corr
0.66	ENLV	Enlivex Therapeutics	Pair Corr
0.61	ENTG	Entegris	Pair Corr
0.95	ADI	Analog Devices	Pair Corr
0.9	AMD	Advanced Micro Devices Aggressive Push	Pair Corr
0.88	ARM	Arm Holdings plc	Pair Corr
0.74	CDW	CDW Corp	Pair Corr
0.82	FRGE	Forge Global Holdings	Pair Corr
0.91	GFS	Globalfoundries	Pair Corr
0.86	IBM	International Business Earnings Call This Week	Pair Corr
0.91	IZM	ICZOOM Group Class	Pair Corr
0.86	LPL	LG Display Earnings Call This Week	Pair Corr
0.7	NOW	ServiceNow Earnings Call This Week	Pair Corr
0.93	STM	STMicroelectronics NV ADR Earnings Call This Week	Pair Corr
0.92	TER	Teradyne	Pair Corr

Moving against IPG Stock

0.66	ONTO	Onto Innovation	Pair Corr
0.57	SMTK	SmartKem, Common Stock	Pair Corr
0.5	ARQQW	Arqit Quantum Warrants	Pair Corr

Related Correlations Analysis

	TER	UCTT	ONTO	COHU	ENTG	KLAC	LRCX	AMAT	ASYS	VECO
TER		0.84	-0.55	0.96	0.71	0.97	0.97	0.98	0.87	0.86	TER
UCTT	0.84		-0.28	0.82	0.82	0.77	0.78	0.87	0.7	0.74	UCTT
ONTO	-0.55	-0.28		-0.57	0.02	-0.63	-0.64	-0.53	-0.51	-0.52	ONTO
COHU	0.96	0.82	-0.57		0.7	0.95	0.96	0.95	0.83	0.87	COHU
ENTG	0.71	0.82	0.02	0.7		0.64	0.66	0.77	0.52	0.65	ENTG
KLAC	0.97	0.77	-0.63	0.95	0.64		0.99	0.97	0.88	0.85	KLAC
LRCX	0.97	0.78	-0.64	0.96	0.66	0.99		0.97	0.89	0.85	LRCX
AMAT	0.98	0.87	-0.53	0.95	0.77	0.97	0.97		0.86	0.85	AMAT
ASYS	0.87	0.7	-0.51	0.83	0.52	0.88	0.89	0.86		0.63	ASYS
VECO	0.86	0.74	-0.52	0.87	0.65	0.85	0.85	0.85	0.63		VECO
	TER	UCTT	ONTO	COHU	ENTG	KLAC	LRCX	AMAT	ASYS	VECO

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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	+ 0.99	KLAC
AMAT	+ 0.98	TER
KLAC	+ 0.97	TER
LRCX	+ 0.97	TER
AMAT	+ 0.97	KLAC
AMAT	+ 0.97	LRCX

High negative correlations

LRCX	- 0.64	ONTO
KLAC	- 0.63	ONTO
COHU	- 0.57	ONTO
ONTO	- 0.55	TER
AMAT	- 0.53	ONTO
VECO	- 0.52	ONTO

Risk-Adjusted Indicators

There is a big difference between IPG Stock performing well and IPG Photonics 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 IPG Photonics' 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
TER	1.89	0.16	0.15	0.23	1.53	(2.39)	5.62	(2.94)	10.58
UCTT	2.80	0.13	0.08	0.19	3.36	(3.30)	8.15	(4.96)	23.72
ONTO	2.66	(0.45)	0.00	(0.12)	0.00	0.00	5.06	(5.13)	35.49
COHU	2.13	0.28	0.16	0.30	1.90	(2.47)	6.05	(3.61)	13.20
ENTG	2.41	0.14	0.09	0.21	2.58	(2.71)	7.58	(5.08)	15.55
KLAC	1.60	0.34	0.21	0.37	1.38	(1.83)	4.21	(2.43)	10.90
LRCX	1.58	0.42	0.29	0.41	1.15	(1.91)	4.39	(2.14)	13.15
AMAT	1.58	0.27	0.17	0.34	1.41	(1.89)	4.12	(2.25)	13.20
ASYS	2.64	0.18	0.07	0.29	2.73	(3.24)	6.03	(6.11)	20.26
VECO	2.11	(0.04)	0.03	0.11	2.11	(2.44)	5.35	(3.48)	13.89

IPG Photonics Corporate Executives

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

Timothy Mammen

CFO and Sr. VP

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