Jabil Circuit Correlations

JBL Stock

USD 143.83 4.35 3.12%

The current 90-days correlation between Jabil Circuit and Celestica is 0.64 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Jabil Circuit moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Jabil Circuit moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Jabil Circuit Correlation With Market

Very weak diversification

The correlation between Jabil Circuit and DJI is 0.48 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Jabil Circuit 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 Jabil Circuit. 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 more information on how to buy Jabil Stock please use our How to buy in Jabil Stock guide.

Moving together with Jabil Stock

0.75	NTCT	NetScout Systems	Pair Corr
0.7	NTGR	NETGEAR	Pair Corr
0.79	RDCM	Radcom	Pair Corr
0.84	SANM	Sanmina	Pair Corr
0.68	DV	DoubleVerify Holdings	Pair Corr
0.65	ASX	ASE Industrial Holding	Pair Corr

Moving against Jabil Stock

0.33	ERIC	Telefonaktiebolaget Aggressive Push	Pair Corr
0.52	MQ	Marqeta Tech Boost	Pair Corr
0.7	UMC	United Microelectronics Aggressive Push	Pair Corr

Related Correlations Analysis

	SANM	CLS	PLXS	FN	BHE	FLEX	VICR	MEI	OSIS	TEL
SANM		0.92	0.05	0.23	0.04	0.78	0.0	0.33	0.67	0.53	SANM
CLS	0.92		0.07	0.28	0.05	0.84	-0.05	0.32	0.55	0.37	CLS
PLXS	0.05	0.07		0.69	0.97	0.49	-0.32	0.83	-0.55	-0.28	PLXS
FN	0.23	0.28	0.69		0.77	0.51	-0.1	0.55	-0.22	0.1	FN
BHE	0.04	0.05	0.97	0.77		0.48	-0.31	0.79	-0.52	-0.23	BHE
FLEX	0.78	0.84	0.49	0.51	0.48		-0.22	0.66	0.21	0.19	FLEX
VICR	0.0	-0.05	-0.32	-0.1	-0.31	-0.22		-0.11	0.28	0.64	VICR
MEI	0.33	0.32	0.83	0.55	0.79	0.66	-0.11		-0.15	0.07	MEI
OSIS	0.67	0.55	-0.55	-0.22	-0.52	0.21	0.28	-0.15		0.71	OSIS
TEL	0.53	0.37	-0.28	0.1	-0.23	0.19	0.64	0.07	0.71		TEL
	SANM	CLS	PLXS	FN	BHE	FLEX	VICR	MEI	OSIS	TEL

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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	+ 0.97	PLXS
CLS	+ 0.92	SANM
FLEX	+ 0.84	CLS
MEI	+ 0.83	PLXS
MEI	+ 0.79	BHE
FLEX	+ 0.78	SANM

High negative correlations

OSIS	- 0.55	PLXS
OSIS	- 0.52	BHE
VICR	- 0.32	PLXS
VICR	- 0.31	BHE
TEL	- 0.28	PLXS
TEL	- 0.23	BHE

Risk-Adjusted Indicators

There is a big difference between Jabil Stock performing well and Jabil Circuit 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 Jabil Circuit'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
SANM	1.45	0.06	0.00	(0.02)	0.00	0.00	3.14	(3.21)	13.03
CLS	4.11	0.36	0.04	0.12	6.78	(3.88)	8.86	(7.29)	37.21
PLXS	1.34	(0.34)	0.00	(0.53)	0.00	0.00	2.30	(3.00)	12.43
FN	3.16	0.04	0.01	(0.01)	5.48	(2.90)	5.54	(7.17)	27.92
BHE	1.44	(0.17)	0.00	(0.27)	0.00	0.00	2.78	(3.52)	10.57
FLEX	2.00	0.03	0.00	(0.05)	0.00	0.00	3.63	(4.80)	16.57
VICR	3.79	0.28	0.04	0.11	5.76	(3.64)	7.06	(6.44)	40.59
MEI	3.18	(0.60)	0.00	(0.31)	0.00	0.00	5.37	(6.72)	38.95
OSIS	1.95	0.26	0.09	0.11	2.41	(2.00)	3.70	(4.10)	19.95
TEL	1.17	0.06	0.00	(0.01)	0.00	0.00	2.39	(2.23)	7.45

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