LightPath Technologies Correlations

Stocks . USA . 
Stock . LightPath Technologies
LPTH Stock  USD 2.21  0.07  3.07%   
The current 90-days correlation between LightPath Technologies and Richardson Electronics is 0.21 (i.e., Modest diversification). The correlation of LightPath Technologies 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.

LightPath Technologies Correlation With Market

Significant diversification

The correlation between LightPath Technologies and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding LightPath Technologies 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 LightPath Technologies. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.
For more detail on how to invest in LightPath Stock please use our How to Invest in LightPath Technologies guide.

Moving together with LightPath Stock

  0.69FLEX FlexPairCorr
  0.68WBX Wallbox NVPairCorr
  0.67AIRG AirgainPairCorr
  0.67S SentinelOnePairCorr
  0.64VERI VeritonePairCorr
  0.69CRM SalesforcePairCorr
  0.76TDC Teradata CorpPairCorr
  0.64VLN ValensPairCorr
  0.73SLNH Soluna HoldingsPairCorr
  0.65PPERY Bank Mandiri PerseroPairCorr
  0.62PBCRY Bank Central AsiaPairCorr
  0.7BKRKY Bank RakyatPairCorr
  0.63TLK Telkom Indonesia TbkPairCorr

Moving against LightPath Stock

  0.54MQ MarqetaPairCorr
  0.43MLGO MicroAlgo TrendingPairCorr
  0.41JG Aurora MobilePairCorr
  0.37ALTR Altair EngineeringPairCorr
  0.34CSCO Cisco SystemsPairCorr
  0.32ZS ZscalerPairCorr
  0.8VZ Verizon CommunicationsPairCorr
  0.77JNJ Johnson Johnson Sell-off TrendPairCorr
  0.73T ATT Inc Sell-off TrendPairCorr
  0.67TRV The Travelers CompaniesPairCorr
  0.66WM Waste ManagementPairCorr
  0.63MCD McDonaldsPairCorr
  0.58PG Procter GamblePairCorr
  0.57CWCO Consolidated Water Earnings Call TodayPairCorr
  0.52IBM International BusinessPairCorr
  0.46300131 ShenZhen Yitoa IntelPairCorr
  0.46XOM Exxon Mobil Corp Earnings Call This WeekPairCorr
  0.37DD Dupont De NemoursPairCorr

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   
BHE
+ 0.97
PLXS
CTS
+ 0.92
PLXS
BHE
+ 0.92
CTS
BELFA
+ 0.9
CTS
CTS
+ 0.84
MEI
BELFA
+ 0.83
MEI
  
High negative correlations   
PLXS
- 0.58
OSIS
BHE
- 0.55
OSIS
CTS
- 0.48
OSIS
BELFA
- 0.35
OSIS
RELL
- 0.29
OSIS
OSIS
- 0.19
MEI

Risk-Adjusted Indicators

There is a big difference between LightPath Stock performing well and LightPath Technologies 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 LightPath Technologies' 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
MEI  3.17 (0.70) 0.00 (0.31) 0.00 
 0.00 
 5.37 
(6.72)
 38.95 
OSIS  2.02  0.23  0.08  0.12  2.37 
(2.14)
 4.92 
(4.10)
 19.95 
PLXS  1.38 (0.29) 0.00 (0.39) 0.00 
 0.00 
 2.35 
(3.00)
 12.43 
AMOT  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
 0.00 
 0.00 
CTS  1.32 (0.35) 0.00 (0.35) 0.00 
 0.00 
 2.32 
(3.56)
 6.79 
BHE  1.50 (0.20) 0.00 (0.25) 0.00 
 0.00 
 2.85 
(3.52)
 10.57 
LYTS  2.00 (0.10) 0.00 (0.09) 0.00 
 0.00 
 3.38 
(4.37)
 35.65 
BELFB  1.69 (0.15) 0.00 (0.24) 0.00 
 0.00 
 3.66 
(3.23)
 12.43 
RELL  1.70 (0.17) 0.00 (0.57) 0.00 
 0.00 
 3.79 
(3.55)
 17.14 
BELFA  1.96 (0.39) 0.00 (0.72) 0.00 
 0.00 
 3.62 
(4.33)
 13.15 

LightPath Technologies Corporate Executives

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