IPG Photonics Correlations

IPGP Stock

USD 78.04 0.74 0.96%

The current 90-days correlation between IPG Photonics and Teradyne is 0.54 (i.e., Very weak diversification). The correlation of IPG Photonics 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.

IPG Photonics Correlation With Market

Very weak diversification

The correlation between IPG Photonics and DJI is 0.58 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding IPG Photonics 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 IPG Photonics. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

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

Moving together with IPG Stock

0.76	DQ	Daqo New Energy	Pair Corr
0.78	INTT	inTest	Pair Corr
0.86	KLIC	Kulicke and Soffa	Pair Corr
0.61	AMBA	Ambarella Tech Boost	Pair Corr
0.76	COHU	Cohu Inc	Pair Corr
0.78	S	SentinelOne	Pair Corr
0.67	FN	Fabrinet	Pair Corr
0.65	IT	Gartner	Pair Corr
0.62	NN	Nextnav Acquisition Corp	Pair Corr
0.64	ZM	Zoom Video Communications	Pair Corr

Moving against IPG Stock

0.57	TER	Teradyne	Pair Corr
0.32	ENTG	Entegris	Pair Corr
0.63	SMTK	SmartKem, Common Stock Trending	Pair Corr
0.38	MX	MagnaChip Semiconductor Tech Boost	Pair Corr
0.52	VRRM	Verra Mobility Corp	Pair Corr
0.5	VCSA	Vacasa Inc Trending	Pair Corr
0.32	VECO	Veeco Instruments	Pair Corr
0.31	WALD	Waldencast Acquisition	Pair Corr

Related Correlations Analysis

	TER	UCTT	ONTO	COHU	ENTG	KLAC	LRCX	AMAT	ASYS	VECO
TER		0.27	0.78	-0.5	0.76	0.88	0.65	0.7	0.61	0.89	TER
UCTT	0.27		0.36	0.31	0.33	0.37	0.62	0.61	-0.19	0.41	UCTT
ONTO	0.78	0.36		-0.29	0.58	0.76	0.72	0.78	0.28	0.84	ONTO
COHU	-0.5	0.31	-0.29		-0.12	-0.31	0.03	-0.02	-0.43	-0.21	COHU
ENTG	0.76	0.33	0.58	-0.12		0.85	0.78	0.71	0.61	0.79	ENTG
KLAC	0.88	0.37	0.76	-0.31	0.85		0.88	0.85	0.55	0.95	KLAC
LRCX	0.65	0.62	0.72	0.03	0.78	0.88		0.96	0.24	0.83	LRCX
AMAT	0.7	0.61	0.78	-0.02	0.71	0.85	0.96		0.15	0.82	AMAT
ASYS	0.61	-0.19	0.28	-0.43	0.61	0.55	0.24	0.15		0.52	ASYS
VECO	0.89	0.41	0.84	-0.21	0.79	0.95	0.83	0.82	0.52		VECO
	TER	UCTT	ONTO	COHU	ENTG	KLAC	LRCX	AMAT	ASYS	VECO

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

AMAT	+ 0.96	LRCX
VECO	+ 0.95	KLAC
VECO	+ 0.89	TER
KLAC	+ 0.88	TER
LRCX	+ 0.88	KLAC
KLAC	+ 0.85	ENTG

High negative correlations

COHU	- 0.5	TER
ASYS	- 0.43	COHU
KLAC	- 0.31	COHU
COHU	- 0.29	ONTO
VECO	- 0.21	COHU
ASYS	- 0.19	UCTT

Risk-Adjusted Indicators

There is a big difference between IPG Stock performing well and IPG Photonics 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 IPG Photonics' 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
TER	1.96	(0.50)	0.00	(0.13)	0.00	0.00	3.37	(3.69)	16.20
UCTT	2.54	(0.15)	(0.01)	0.05	3.14	(2.81)	5.13	(5.21)	20.10
ONTO	2.51	(0.55)	0.00	(0.14)	0.00	0.00	5.66	(5.73)	20.62
COHU	2.12	(0.18)	(0.02)	0.04	2.41	(2.41)	4.44	(3.97)	14.26
ENTG	1.96	(0.27)	0.00	(0.05)	0.00	0.00	3.08	(4.09)	12.71
KLAC	1.97	(0.49)	0.00	(0.18)	0.00	0.00	3.24	(3.70)	20.36
LRCX	2.04	(0.26)	0.00	(0.07)	0.00	0.00	4.40	(2.92)	16.34
AMAT	1.92	(0.32)	0.00	(0.07)	0.00	0.00	4.31	(3.36)	16.93
ASYS	1.85	(0.26)	0.00	(0.63)	0.00	0.00	3.57	(4.31)	11.72
VECO	1.77	(0.57)	0.00	(0.17)	0.00	0.00	3.96	(3.97)	12.77

IPG Photonics Corporate Executives

Elected by the shareholders, the IPG Photonics' board of directors comprises two types of representatives: IPG Photonics inside directors who are chosen from within the company, and outside directors, selected externally and held independent of IPG. The board's role is to monitor IPG Photonics' management team and ensure that shareholders' interests are well served. IPG Photonics' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, IPG Photonics' outside directors are responsible for providing unbiased perspectives on the board's policies.

Timothy Mammen

CFO and Sr. VP

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