NLIGHT Correlations

LASR Stock

USD 19.96 0.80 4.18%

The current 90-days correlation between nLIGHT Inc and CEVA Inc is 0.12 (i.e., Average diversification). The correlation of NLIGHT 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.

NLIGHT Correlation With Market

Average diversification

The correlation between nLIGHT Inc and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding nLIGHT Inc and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with NLIGHT Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in nLIGHT Inc. 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.

Moving together with NLIGHT Stock

0.64	LPL	LG Display Earnings Call This Week	Pair Corr
0.87	VSH	Vishay Intertechnology	Pair Corr
0.69	LITE	Lumentum Holdings	Pair Corr
0.66	QBTS	D Wave Quantum Aggressive Push	Pair Corr
0.76	QUBT	Quantum Computing Aggressive Push	Pair Corr
0.62	RDWR	Radware	Pair Corr
0.69	AVNW	Aviat Networks	Pair Corr
0.73	CSCO	Cisco Systems	Pair Corr
0.72	MU	Micron Technology	Pair Corr
0.88	MX	MagnaChip Semiconductor	Pair Corr
0.69	ON	ON Semiconductor	Pair Corr
0.65	VRRM	Verra Mobility Corp	Pair Corr
0.63	ADI	Analog Devices	Pair Corr
0.7	AMD	Advanced Micro Devices Aggressive Push	Pair Corr
0.9	ARM	Arm Holdings plc	Pair Corr
0.74	GFS	Globalfoundries	Pair Corr

Moving against NLIGHT Stock

0.5	IMTE	Integrated Media Tec Tech Boost	Pair Corr
0.43	QMCO	Quantum	Pair Corr
0.77	FRGT	Freight Technologies	Pair Corr

Related Correlations Analysis

	CEVA	AOSL	MXL	SGH	MX	MTSI	SYNA	SLAB	POWI	DIOD
CEVA		-0.21	-0.22	0.0	-0.49	-0.42	-0.29	-0.41	-0.2	-0.34	CEVA
AOSL	-0.21		0.95	0.0	0.82	0.58	0.95	0.93	0.88	0.97	AOSL
MXL	-0.22	0.95		0.0	0.81	0.47	0.88	0.89	0.77	0.94	MXL
SGH	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	SGH
MX	-0.49	0.82	0.81	0.0		0.6	0.84	0.89	0.7	0.89	MX
MTSI	-0.42	0.58	0.47	0.0	0.6		0.68	0.68	0.69	0.69	MTSI
SYNA	-0.29	0.95	0.88	0.0	0.84	0.68		0.92	0.9	0.95	SYNA
SLAB	-0.41	0.93	0.89	0.0	0.89	0.68	0.92		0.86	0.96	SLAB
POWI	-0.2	0.88	0.77	0.0	0.7	0.69	0.9	0.86		0.88	POWI
DIOD	-0.34	0.97	0.94	0.0	0.89	0.69	0.95	0.96	0.88		DIOD
	CEVA	AOSL	MXL	SGH	MX	MTSI	SYNA	SLAB	POWI	DIOD

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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

DIOD	+ 0.97	AOSL
DIOD	+ 0.96	SLAB
MXL	+ 0.95	AOSL
SYNA	+ 0.95	AOSL
DIOD	+ 0.95	SYNA
DIOD	+ 0.94	MXL

High negative correlations

MX	- 0.49	CEVA
MTSI	- 0.42	CEVA
SLAB	- 0.41	CEVA
DIOD	- 0.34	CEVA
SYNA	- 0.29	CEVA
MXL	- 0.22	CEVA

Risk-Adjusted Indicators

There is a big difference between NLIGHT Stock performing well and NLIGHT 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 NLIGHT'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
CEVA	2.44	(0.06)	(0.01)	0.09	4.05	(2.92)	5.50	(4.02)	28.76
AOSL	2.72	0.74	0.31	0.56	2.20	(3.35)	7.49	(3.65)	20.50
MXL	2.45	0.71	0.21	0.88	2.80	(2.88)	5.76	(4.03)	18.12
SGH	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MX	2.46	0.48	0.17	0.73	2.11	(3.09)	6.29	(4.46)	17.85
MTSI	1.43	0.42	0.23	0.54	1.16	(1.56)	4.74	(2.27)	9.83
SYNA	1.89	0.29	0.18	0.31	1.64	(2.15)	4.74	(3.03)	12.93
SLAB	2.08	0.68	0.30	0.67	1.67	(2.43)	5.73	(2.60)	17.01
POWI	2.06	0.10	0.07	0.20	2.15	(2.42)	4.58	(4.32)	15.27
DIOD	1.99	0.58	0.29	0.55	1.48	(2.28)	5.17	(2.81)	17.03

NLIGHT Corporate Management

James Nias	Corporate VP	Profile
Julie JD	General VP	Profile
Joseph DeBartolo	VP Manager	Profile
Julie Dimmick	General VP	Profile
Frank Pfeffer	Managing Systems	Profile
Kerry Hill	VP Treasury	Profile
Bill Willson	Managing Division	Profile

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