Laser Photonics Correlations

LASE Stock

3.49 0.06 1.69%

The current 90-days correlation between Laser Photonics and Nuburu Inc is 0.05 (i.e., Significant diversification). The correlation of Laser 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.

Laser Photonics Correlation With Market

Weak diversification

The correlation between Laser Photonics and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Laser Photonics and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Laser 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 state.

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

Moving together with Laser Stock

0.89	BW	Babcock Wilcox Enter	Pair Corr
0.74	IR	Ingersoll Rand	Pair Corr
0.63	ENOV	Enovis Corp	Pair Corr
0.79	CVV	CVD Equipment Earnings Call This Week	Pair Corr
0.84	ETN	Eaton PLC Sell-off Trend	Pair Corr
0.84	GHM	Graham	Pair Corr
0.78	IEX	IDEX	Pair Corr
0.78	MIR	Mirion Technologies	Pair Corr
0.77	XMTR	Xometry	Pair Corr
0.8	PNR	Pentair PLC	Pair Corr
0.85	RRX	Regal Beloit	Pair Corr

Moving against Laser Stock

0.82	CYD	China Yuchai Interna	Pair Corr
0.44	FELE	Franklin Electric	Pair Corr
0.36	EPAC	Enerpac Tool Group	Pair Corr
0.78	MWA	Mueller Water Products	Pair Corr
0.36	NPO	Enpro Industries	Pair Corr
0.83	IVAC	Intevac	Pair Corr
0.72	XYL	Xylem Inc	Pair Corr

Related Correlations Analysis

	BGRY	BURU	JCSE	RCIT	SHPW	GTEC	SMAWF	GTES	CIR	CR
BGRY		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	BGRY
BURU	0.0		0.17	-0.69	0.0	0.28	-0.72	-0.17	0.0	-0.37	BURU
JCSE	0.0	0.17		-0.11	0.0	0.81	-0.6	0.57	0.0	0.62	JCSE
RCIT	0.0	-0.69	-0.11		0.0	-0.23	0.6	0.35	0.0	0.32	RCIT
SHPW	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	SHPW
GTEC	0.0	0.28	0.81	-0.23	0.0		-0.6	0.41	0.0	0.6	GTEC
SMAWF	0.0	-0.72	-0.6	0.6	0.0	-0.6		-0.18	0.0	0.02	SMAWF
GTES	0.0	-0.17	0.57	0.35	0.0	0.41	-0.18		0.0	0.59	GTES
CIR	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	CIR
CR	0.0	-0.37	0.62	0.32	0.0	0.6	0.02	0.59	0.0		CR
	BGRY	BURU	JCSE	RCIT	SHPW	GTEC	SMAWF	GTES	CIR	CR

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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

GTEC	+ 0.81	JCSE
CR	+ 0.62	JCSE
SMAWF	+ 0.6	RCIT
CR	+ 0.6	GTEC
CR	+ 0.59	GTES
GTES	+ 0.57	JCSE

High negative correlations

SMAWF	- 0.72	BURU
RCIT	- 0.69	BURU
SMAWF	- 0.6	GTEC
SMAWF	- 0.6	JCSE
CR	- 0.37	BURU
GTEC	- 0.23	RCIT

Risk-Adjusted Indicators

There is a big difference between Laser Stock performing well and Laser 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 Laser 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
BGRY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BURU	12.69	1.60	0.12	0.95	12.07	(17.60)	33.33	(23.08)	134.00
JCSE	3.73	(0.26)	0.00	(1.61)	0.00	0.00	8.45	(9.87)	26.18
RCIT	0.88	(0.05)	0.00	0.10	0.00	0.00	1.65	(1.81)	4.39
SHPW	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
GTEC	3.86	(0.54)	0.00	(0.82)	0.00	0.00	9.25	(8.84)	37.23
SMAWF	1.94	0.41	0.21	0.32	1.81	(2.41)	4.94	(3.41)	12.28
GTES	1.84	(0.18)	0.00	0.91	0.00	0.00	3.17	(4.41)	19.37
CIR	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CR	1.48	(0.01)	0.00	(0.08)	0.00	0.00	2.75	(3.24)	16.18

Laser Photonics Corporate Management

Arnold Bykov	Chief Engineer	Profile
Carlos Sardinas	Chief Officer	Profile
Brandon White	Vice Sales	Profile
Gennady Korotkov	Vice Operations	Profile

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