Ambarella Correlations

AMBA Stock

USD 55.15 1.36 2.53%

The current 90-days correlation between Ambarella and Axcelis Technologies is 0.55 (i.e., Very weak diversification). The correlation of Ambarella 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.

Ambarella Correlation With Market

Weak diversification

The correlation between Ambarella and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ambarella and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Ambarella. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

For information on how to trade Ambarella Stock refer to our How to Trade Ambarella Stock guide.

Moving together with Ambarella Stock

0.73	DIOD	Diodes Incorporated	Pair Corr
0.74	VECO	Veeco Instruments	Pair Corr
0.81	AIP	Arteris	Pair Corr
0.71	AMD	Advanced Micro Devices Aggressive Push	Pair Corr
0.81	ARM	Arm Holdings plc	Pair Corr
0.68	ASX	ASE Industrial Holding	Pair Corr
0.65	CAN	Canaan Inc	Pair Corr
0.66	FORM	FormFactor	Pair Corr
0.7	FSLR	First Solar	Pair Corr
0.69	GFS	Globalfoundries Sell-off Trend	Pair Corr
0.77	MXL	MaxLinear	Pair Corr
0.73	TER	Teradyne	Pair Corr
0.9	TSM	Taiwan Semiconductor	Pair Corr
0.62	GCTS	GCT Semiconductor Holding Symbol Change	Pair Corr
0.75	GSIT	GSI Technology	Pair Corr
0.67	ICHR	Ichor Holdings	Pair Corr
0.85	INDI	indie Semiconductor	Pair Corr

Moving against Ambarella Stock

0.55

UMC

United Microelectronics Aggressive Push

Pair Corr

Related Correlations Analysis

	ACLS	KLIC	UCTT	COHU	ASYS	AEHR	PLAB	LRCX	KLAC	IPGP
ACLS		0.95	0.76	0.92	0.69	0.74	0.92	-0.23	-0.35	0.95	ACLS
KLIC	0.95		0.81	0.98	0.77	0.8	0.93	-0.2	-0.34	0.92	KLIC
UCTT	0.76	0.81		0.79	0.64	0.64	0.72	0.26	0.12	0.73	UCTT
COHU	0.92	0.98	0.79		0.77	0.85	0.89	-0.26	-0.41	0.9	COHU
ASYS	0.69	0.77	0.64	0.77		0.73	0.71	-0.09	-0.35	0.62	ASYS
AEHR	0.74	0.8	0.64	0.85	0.73		0.65	-0.33	-0.44	0.7	AEHR
PLAB	0.92	0.93	0.72	0.89	0.71	0.65		-0.19	-0.4	0.9	PLAB
LRCX	-0.23	-0.2	0.26	-0.26	-0.09	-0.33	-0.19		0.87	-0.26	LRCX
KLAC	-0.35	-0.34	0.12	-0.41	-0.35	-0.44	-0.4	0.87		-0.32	KLAC
IPGP	0.95	0.92	0.73	0.9	0.62	0.7	0.9	-0.26	-0.32		IPGP
	ACLS	KLIC	UCTT	COHU	ASYS	AEHR	PLAB	LRCX	KLAC	IPGP

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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

COHU	+ 0.98	KLIC
KLIC	+ 0.95	ACLS
IPGP	+ 0.95	ACLS
PLAB	+ 0.93	KLIC
COHU	+ 0.92	ACLS
PLAB	+ 0.92	ACLS

High negative correlations

KLAC	- 0.44	AEHR
KLAC	- 0.41	COHU
KLAC	- 0.4	PLAB
KLAC	- 0.35	ASYS
KLAC	- 0.35	ACLS
KLAC	- 0.34	KLIC

Risk-Adjusted Indicators

There is a big difference between Ambarella Stock performing well and Ambarella 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 Ambarella'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
ACLS	1.95	(0.33)	0.00	(0.50)	0.00	0.00	3.46	(5.01)	18.06
KLIC	1.56	(0.34)	0.00	(0.48)	0.00	0.00	2.71	(4.89)	9.76
UCTT	2.79	(0.41)	0.00	(0.58)	0.00	0.00	4.52	(5.78)	32.72
COHU	2.24	(0.58)	0.00	(0.72)	0.00	0.00	3.10	(6.87)	14.30
ASYS	2.00	(0.09)	0.00	(0.30)	0.00	0.00	3.35	(3.82)	27.27
AEHR	4.34	(0.08)	0.00	(0.17)	0.00	0.00	7.69	(7.91)	52.75
PLAB	1.63	(0.16)	0.00	(0.33)	0.00	0.00	2.42	(4.03)	17.20
LRCX	2.12	0.18	0.06	0.08	2.74	(2.15)	4.45	(5.09)	14.02
KLAC	1.67	0.27	0.11	0.16	2.31	(1.63)	4.13	(3.68)	11.35
IPGP	1.78	(0.15)	0.00	(0.25)	0.00	0.00	4.39	(4.31)	9.93

Ambarella Corporate Management

Christopher Day	VP of Marketing and Bus. Devel.	Profile
John Young	Chief Officer	Profile
Amee OrozcoGuiriba	Vice Resources	Profile
Chan Lee	Chief Officer	Profile
Michael Morehead	General Secretary	Profile
ChiHong Ju	Senior Centers	Profile

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