Celestica Correlations

CLS Stock

USD 87.47 4.31 4.70%

The current 90-days correlation between Celestica and Flex is 0.79 (i.e., Poor diversification). The correlation of Celestica 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.

Celestica Correlation With Market

Modest diversification

The correlation between Celestica and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Celestica 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 Celestica. 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 economic analysis.

For more information on how to buy Celestica Stock please use our How to Invest in Celestica guide.

Moving together with Celestica Stock

0.65	VIAV	Viavi Solutions Sell-off Trend	Pair Corr
0.76	FFIV	F5 Networks	Pair Corr
0.83	FLEX	Flex	Pair Corr
0.62	BDC	Belden Inc	Pair Corr
0.84	CDW	CDW Corp	Pair Corr
0.91	GLW	Corning Incorporated	Pair Corr
0.86	JBL	Jabil Circuit	Pair Corr

Moving against Celestica Stock

0.42

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Pair Corr

Related Correlations Analysis

	PLXS	BHE	FLEX	JBL	SANM	MEI	OSIS	FN	BELFA	CTS
PLXS		0.98	0.29	0.08	0.03	0.83	-0.54	0.62	0.37	0.93	PLXS
BHE	0.98		0.29	0.07	0.02	0.8	-0.51	0.7	0.33	0.93	BHE
FLEX	0.29	0.29		0.94	0.74	0.48	0.23	0.62	0.46	0.17	FLEX
JBL	0.08	0.07	0.94		0.83	0.37	0.44	0.38	0.46	-0.03	JBL
SANM	0.03	0.02	0.74	0.83		0.31	0.68	0.26	0.08	-0.04	SANM
MEI	0.83	0.8	0.48	0.37	0.31		-0.13	0.51	0.46	0.83	MEI
OSIS	-0.54	-0.51	0.23	0.44	0.68	-0.13		-0.23	-0.24	-0.43	OSIS
FN	0.62	0.7	0.62	0.38	0.26	0.51	-0.23		0.42	0.51	FN
BELFA	0.37	0.33	0.46	0.46	0.08	0.46	-0.24	0.42		0.3	BELFA
CTS	0.93	0.93	0.17	-0.03	-0.04	0.83	-0.43	0.51	0.3		CTS
	PLXS	BHE	FLEX	JBL	SANM	MEI	OSIS	FN	BELFA	CTS

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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

BHE	+ 0.98	PLXS
JBL	+ 0.94	FLEX
CTS	+ 0.93	PLXS
CTS	+ 0.93	BHE
MEI	+ 0.83	PLXS
SANM	+ 0.83	JBL

High negative correlations

OSIS	- 0.54	PLXS
OSIS	- 0.51	BHE
CTS	- 0.43	OSIS
BELFA	- 0.24	OSIS
FN	- 0.23	OSIS
OSIS	- 0.13	MEI

Risk-Adjusted Indicators

There is a big difference between Celestica Stock performing well and Celestica 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 Celestica'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
PLXS	1.30	(0.37)	0.00	(0.64)	0.00	0.00	1.77	(3.00)	12.43
BHE	1.43	(0.17)	0.00	(0.30)	0.00	0.00	2.51	(3.52)	10.57
FLEX	2.10	0.02	0.00	(0.08)	0.00	0.00	3.73	(4.95)	16.57
JBL	1.58	0.16	0.06	0.04	2.52	(1.51)	3.25	(3.42)	15.22
SANM	1.42	0.06	0.00	(0.05)	0.00	0.00	3.14	(3.21)	13.03
MEI	3.11	(0.69)	0.00	(0.38)	0.00	0.00	4.91	(6.72)	38.95
OSIS	1.89	0.22	0.07	0.08	2.46	(1.89)	3.53	(4.10)	19.95
FN	3.28	0.16	0.03	0.21	5.77	(3.05)	6.01	(8.19)	27.92
BELFA	1.84	(0.32)	0.00	(0.61)	0.00	0.00	3.62	(4.33)	13.15
CTS	1.26	(0.32)	0.00	(0.42)	0.00	0.00	2.05	(3.56)	6.79

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