NLIGHT Correlations
| LASR Stock | USD 8.94 0.27 2.93% |
The current 90-days correlation between nLIGHT Inc and CEVA Inc is 0.36 (i.e., Weak diversification). The correlation of NLIGHT 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.
NLIGHT Correlation With Market
Weak diversification
The correlation between nLIGHT Inc 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 nLIGHT Inc and DJI in the same portfolio, assuming nothing else is changed.
NLIGHT |
Moving together with NLIGHT Stock
| 0.65 | FN | Fabrinet | PairCorr |
| 0.64 | KE | Kimball Electronics | PairCorr |
| 0.81 | KN | Knowles Cor | PairCorr |
| 0.71 | UI | Ubiquiti Networks | PairCorr |
| 0.67 | EBON | Ebang International | PairCorr |
| 0.61 | EXTR | Extreme Networks | PairCorr |
| 0.77 | FLEX | Flex | PairCorr |
| 0.86 | APH | Amphenol | PairCorr |
| 0.87 | BDC | Belden Inc | PairCorr |
| 0.72 | BHE | Benchmark Electronics | PairCorr |
| 0.68 | CDW | CDW Corp | PairCorr |
| 0.71 | CTS | CTS Corporation | PairCorr |
| 0.79 | HPE | Hewlett Packard Ente Aggressive Push | PairCorr |
| 0.69 | HPQ | HP Inc | PairCorr |
| 0.74 | IDN | Intellicheck Mobilisa Tech Boost | PairCorr |
| 0.72 | MEI | Methode Electronics | PairCorr |
| 0.81 | MSI | Motorola Solutions | PairCorr |
Moving against NLIGHT Stock
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
|
Risk-Adjusted Indicators
There is a big difference between NLIGHT Stock performing well and NLIGHT 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 NLIGHT'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| CEVA | 2.64 | 0.15 | 0.03 | 0.00 | 3.58 | 4.55 | 31.05 | |||
| AOSL | 3.73 | (0.59) | 0.00 | (0.51) | 0.00 | 5.72 | 22.05 | |||
| MXL | 3.98 | (0.20) | 0.00 | (0.21) | 0.00 | 6.45 | 27.60 | |||
| SGH | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| MX | 2.27 | 0.10 | 0.05 | 0.05 | 2.49 | 5.93 | 18.86 | |||
| MTSI | 2.32 | (0.18) | 0.00 | (0.24) | 0.00 | 4.30 | 20.65 | |||
| SYNA | 2.43 | (0.17) | 0.00 | (0.24) | 0.00 | 5.23 | 21.71 | |||
| SLAB | 2.05 | 0.18 | 0.05 | 0.04 | 2.72 | 3.33 | 16.60 | |||
| POWI | 1.91 | (0.07) | 0.00 | (0.16) | 0.00 | 3.76 | 11.80 | |||
| DIOD | 1.99 | (0.32) | 0.00 | (0.46) | 0.00 | 3.55 | 10.47 |
NLIGHT Corporate Management
| James Nias | Corporate VP | Profile | |
| Julie JD | General VP | Profile | |
| Joseph DeBartolo | VP Manager | Profile | |
| Julie Dimmick | General VP | Profile | |
| Frank Pfeffer | Managing Systems | Profile | |
| Kerry Hill | VP Treasury | Profile | |
| Bill Willson | Managing Division | Profile |