Teradyne Correlations

TER Stock

USD 93.30 1.52 1.60%

The current 90-days correlation between Teradyne and First Solar is 0.29 (i.e., Modest diversification). The correlation of Teradyne 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.

Teradyne Correlation With Market

Poor diversification

The correlation between Teradyne and DJI is 0.65 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Teradyne and DJI in the same portfolio, assuming nothing else is changed.

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

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

Moving together with Teradyne Stock

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0.96	TSM	Taiwan Semiconductor Aggressive Push	Pair Corr
0.87	INTC	Intel Earnings Call This Week	Pair Corr
0.93	MRVL	Marvell Technology	Pair Corr
0.95	NVDA	NVIDIA Aggressive Push	Pair Corr
0.92	NVMI	Nova	Pair Corr
0.81	OLED	Universal Display	Pair Corr
0.93	QRVO	Qorvo Inc Earnings Call This Week	Pair Corr
0.8	AMBA	Ambarella	Pair Corr
0.92	AVGO	Broadcom Aggressive Push	Pair Corr
0.9	TSEM	Tower Semiconductor Tech Boost	Pair Corr
0.93	CAMT	Camtek	Pair Corr
0.88	VRRM	Verra Mobility Corp	Pair Corr
0.77	ENLV	Enlivex Therapeutics	Pair Corr
0.88	FRGE	Forge Global Holdings	Pair Corr
0.91	IBM	International Business Earnings Call Tomorrow	Pair Corr
0.92	LPL	LG Display Earnings Call Tomorrow	Pair Corr
0.73	GILT	Gilat Satellite Networks	Pair Corr
0.82	ITRN	Ituran Location	Pair Corr
0.94	LITE	Lumentum Holdings Tech Boost	Pair Corr
0.78	MITK	Mitek Systems Earnings Call This Week	Pair Corr
0.91	MSFT	Microsoft Aggressive Push	Pair Corr
0.63	AVPTW	AvePoint	Pair Corr
0.68	RGTIW	Rigetti Computing Trending	Pair Corr
0.7	QBTS	D Wave Quantum Aggressive Push	Pair Corr
0.9	QUBT	Quantum Computing	Pair Corr
0.9	RDWR	Radware Earnings Call This Week	Pair Corr
0.69	RGTI	Rigetti Computing Downward Rally	Pair Corr
0.93	AAOI	Applied Opt	Pair Corr

Moving against Teradyne Stock

0.74	ARQQW	Arqit Quantum Warrants	Pair Corr
0.35	MAPSW	WM Technology	Pair Corr
0.62	QMCO	Quantum	Pair Corr
0.4	07274NBG7	BAYNGR 5 15	Pair Corr

Related Correlations Analysis

	SEDG	FSLR	RUN	CSIQ	SPWR	CRWD
SEDG		0.74	0.66	0.86	-0.04	0.66	SEDG
FSLR	0.74		0.79	0.72	0.05	0.57	FSLR
RUN	0.66	0.79		0.59	0.33	0.21	RUN
CSIQ	0.86	0.72	0.59		0.03	0.79	CSIQ
SPWR	-0.04	0.05	0.33	0.03		-0.16	SPWR
CRWD	0.66	0.57	0.21	0.79	-0.16		CRWD
	SEDG	FSLR	RUN	CSIQ	SPWR	CRWD

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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

CSIQ	+ 0.86	SEDG
RUN	+ 0.79	FSLR
CRWD	+ 0.79	CSIQ
FSLR	+ 0.74	SEDG
CSIQ	+ 0.72	FSLR
RUN	+ 0.66	SEDG

High negative correlations

CRWD	- 0.16	SPWR
SPWR	- 0.04	SEDG

Risk-Adjusted Indicators

There is a big difference between Teradyne Stock performing well and Teradyne 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 Teradyne'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
SEDG	5.73	1.21	0.13	1.24	8.12	(6.29)	16.23	(8.81)	57.28
FSLR	3.55	0.48	0.10	0.52	4.37	(3.86)	8.81	(6.54)	40.54
RUN	6.19	0.87	0.09	0.50	11.19	(6.16)	15.97	(7.84)	58.11
CSIQ	3.60	0.79	0.19	0.60	4.01	(3.93)	8.43	(6.53)	32.08
SPWR	4.88	0.05	0.01	0.19	6.53	(5.38)	10.32	(9.74)	41.94
CRWD	1.87	0.18	0.08	0.31	2.24	(2.10)	3.65	(4.21)	13.11

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