Globalfoundries Correlations

GFS Stock

USD 38.63 0.50 1.31%

The current 90-days correlation between Globalfoundries and NXP Semiconductors NV is 0.52 (i.e., Very weak diversification). The correlation of Globalfoundries 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.

Globalfoundries Correlation With Market

Weak diversification

The correlation between Globalfoundries and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Globalfoundries and DJI in the same portfolio, assuming nothing else is changed.

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

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

Moving together with Globalfoundries Stock

0.72	NA	Nano Labs	Pair Corr
0.8	AMD	Advanced Micro Devices Aggressive Push	Pair Corr
0.64	MXL	MaxLinear	Pair Corr
0.78	KLIC	Kulicke and Soffa	Pair Corr
0.69	MRVL	Marvell Technology	Pair Corr
0.75	NVDA	NVIDIA	Pair Corr
0.73	AEIS	Advanced Energy Indu	Pair Corr
0.65	S	SentinelOne	Pair Corr
0.74	AI	C3 Ai Inc	Pair Corr
0.68	KE	Kimball Electronics	Pair Corr
0.61	ZM	Zoom Video Communications	Pair Corr
0.66	VMEO	Vimeo Inc	Pair Corr
0.76	EVCM	EverCommerce	Pair Corr
0.61	WKEY	Wisekey International	Pair Corr

Moving against Globalfoundries Stock

0.52	MQ	Marqeta Tech Boost	Pair Corr
0.42	LEDS	SemiLEDS Tech Boost	Pair Corr
0.49	ENFN	Enfusion	Pair Corr

Related Correlations Analysis

	NXPI	ADI	ON	LSCC	QRVO	WOLF	MCHP	MPWR	TXN	SYNA
NXPI		0.79	0.11	0.69	0.19	0.22	0.74	0.51	0.61	0.01	NXPI
ADI	0.79		0.02	0.68	0.05	0.16	0.87	0.13	0.78	-0.03	ADI
ON	0.11	0.02		-0.07	-0.13	0.82	0.39	-0.03	0.11	0.36	ON
LSCC	0.69	0.68	-0.07		-0.21	0.27	0.6	0.1	0.34	-0.45	LSCC
QRVO	0.19	0.05	-0.13	-0.21		-0.18	-0.04	0.54	0.07	0.66	QRVO
WOLF	0.22	0.16	0.82	0.27	-0.18		0.45	-0.06	0.07	0.13	WOLF
MCHP	0.74	0.87	0.39	0.6	-0.04	0.45		0.03	0.68	0.06	MCHP
MPWR	0.51	0.13	-0.03	0.1	0.54	-0.06	0.03		0.16	0.26	MPWR
TXN	0.61	0.78	0.11	0.34	0.07	0.07	0.68	0.16		0.14	TXN
SYNA	0.01	-0.03	0.36	-0.45	0.66	0.13	0.06	0.26	0.14		SYNA
	NXPI	ADI	ON	LSCC	QRVO	WOLF	MCHP	MPWR	TXN	SYNA

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

MCHP	+ 0.87	ADI
WOLF	+ 0.82	ON
ADI	+ 0.79	NXPI
TXN	+ 0.78	ADI
MCHP	+ 0.74	NXPI
LSCC	+ 0.69	NXPI

High negative correlations

SYNA	- 0.45	LSCC
QRVO	- 0.21	LSCC
WOLF	- 0.18	QRVO
QRVO	- 0.13	ON
LSCC	- 0.07	ON
MPWR	- 0.06	WOLF

Risk-Adjusted Indicators

There is a big difference between Globalfoundries Stock performing well and Globalfoundries 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 Globalfoundries' 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
NXPI	1.66	(0.01)	0.00	(0.08)	0.00	0.00	3.77	(3.80)	13.47
ADI	1.60	0.03	0.00	(0.05)	0.00	0.00	2.52	(3.66)	13.98
ON	2.27	(0.53)	0.00	(0.47)	0.00	0.00	3.58	(6.27)	13.14
LSCC	2.14	(0.02)	0.03	(0.02)	2.63	(2.23)	4.59	(4.31)	13.59
QRVO	1.83	0.20	0.07	0.06	2.14	(1.99)	4.00	(4.08)	19.23
WOLF	5.61	(0.24)	0.00	0.35	0.00	0.00	14.48	(9.81)	48.97
MCHP	2.03	(0.12)	0.00	(0.14)	0.00	0.00	3.29	(5.01)	20.48
MPWR	2.52	0.17	0.04	0.05	3.61	(2.45)	5.71	(5.25)	19.42
TXN	1.48	(0.08)	0.00	4.73	0.00	0.00	2.70	(3.50)	10.22
SYNA	2.45	(0.17)	0.00	(0.21)	0.00	0.00	8.07	(4.88)	21.71

Globalfoundries Corporate Management

Brad Clay	Chief Officer	Profile
Thomas Weber	VP Chain	Profile
Laurie Kelly	Chief Officer	Profile
David Reeder	CFO Fin	Profile
Nancy Kelly	Chief Officer	Profile
Kay Ang	Chief Officer	Profile
Pradheepa Raman	Chief Officer	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC