Everspin Technologies Correlations

MRAM Stock

USD 5.19 0.02 0.38%

The current 90-days correlation between Everspin Technologies and CEVA Inc is -0.18 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Everspin Technologies moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Everspin Technologies moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Everspin Technologies Correlation With Market

Very weak diversification

The correlation between Everspin Technologies and DJI is 0.4 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Everspin 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 Everspin 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 nation.

To learn how to invest in Everspin Stock, please use our How to Invest in Everspin Technologies guide.

Moving together with Everspin Stock

0.62	S	SentinelOne	Pair Corr
0.69	NN	Nextnav Acquisition Corp Tech Boost	Pair Corr
0.69	VRAR	Glimpse Group	Pair Corr
0.8	VRNS	Varonis Systems	Pair Corr
0.78	VRNT	Verint Systems Earnings Call Today	Pair Corr
0.89	EXTR	Extreme Networks	Pair Corr
0.8	CRM	Salesforce	Pair Corr
0.86	HPE	Hewlett Packard Ente Aggressive Push	Pair Corr
0.72	HPQ	HP Inc	Pair Corr
0.72	MSI	Motorola Solutions	Pair Corr
0.83	TDC	Teradata Corp	Pair Corr
0.74	WBX	Wallbox NV	Pair Corr
0.9	ZBRA	Zebra Technologies	Pair Corr
0.68	JNPR	Juniper Networks	Pair Corr
0.61	LFUS	Littelfuse	Pair Corr
0.84	LITE	Lumentum Holdings Buyout Trend	Pair Corr
0.83	AIRG	Airgain	Pair Corr

Moving against Everspin Stock

0.89	VRSN	VeriSign	Pair Corr
0.67	JG	Aurora Mobile	Pair Corr
0.6	MQ	Marqeta	Pair Corr
0.52	ZS	Zscaler	Pair Corr
0.44	BB	BlackBerry Earnings Call This Week	Pair Corr
0.89	NOK	Nokia Corp ADR	Pair Corr
0.45	MLGO	MicroAlgo Trending	Pair Corr
0.34	FTNT	Fortinet	Pair Corr
0.31	GWRE	Guidewire Software	Pair Corr
0.86	BRK-A	Berkshire Hathaway	Pair Corr
0.83	WM	Waste Management	Pair Corr

Related Correlations Analysis

	MTSI	POWI	DIOD	CEVA	SLAB	MXL	AMKR	WKEY	NA
MTSI		0.6	0.91	0.25	0.07	0.95	0.94	0.77	0.82	MTSI
POWI	0.6		0.7	0.41	0.41	0.55	0.63	0.5	0.61	POWI
DIOD	0.91	0.7		0.2	-0.01	0.9	0.97	0.86	0.9	DIOD
CEVA	0.25	0.41	0.2		0.69	0.24	0.18	0.05	0.09	CEVA
SLAB	0.07	0.41	-0.01	0.69		0.02	-0.02	-0.15	-0.08	SLAB
MXL	0.95	0.55	0.9	0.24	0.02		0.93	0.79	0.81	MXL
AMKR	0.94	0.63	0.97	0.18	-0.02	0.93		0.87	0.9	AMKR
WKEY	0.77	0.5	0.86	0.05	-0.15	0.79	0.87		0.82	WKEY
NA	0.82	0.61	0.9	0.09	-0.08	0.81	0.9	0.82		NA
	MTSI	POWI	DIOD	CEVA	SLAB	MXL	AMKR	WKEY	NA

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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

AMKR	+ 0.97	DIOD
MXL	+ 0.95	MTSI
AMKR	+ 0.94	MTSI
AMKR	+ 0.93	MXL
DIOD	+ 0.91	MTSI
MXL	+ 0.9	DIOD

High negative correlations

WKEY	- 0.15	SLAB
NA	- 0.08	SLAB
AMKR	- 0.02	SLAB
SLAB	- 0.01	DIOD

Risk-Adjusted Indicators

There is a big difference between Everspin Stock performing well and Everspin 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 Everspin 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 Deviation	Jensen Alpha	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
MTSI	2.38	(0.24)	(0.20)	4.66	(5.71)	20.65
POWI	1.96	(0.15)	(0.17)	3.76	(4.06)	11.80
DIOD	2.01	(0.43)	(0.45)	3.58	(4.35)	10.47
CEVA	2.68	(0.12)	0.36	4.55	(5.66)	31.05
SLAB	1.99	0.01	(0.03)	3.25	(4.70)	16.60
MXL	3.87	(0.47)	(0.27)	6.45	(8.03)	27.60
AMKR	1.83	(0.40)	(0.44)	3.14	(4.41)	15.35
WKEY	8.99	(0.64)	(0.55)	31.31	(21.25)	74.75
NA	5.04	(0.81)	(1.53)	10.00	(10.12)	31.77

Everspin Technologies Corporate Management

David Schrenk	Vice Development	Profile
Aparna Oka	Corporate Controller	Profile
William Cooper	Chief Officer	Profile
Kerry Nagel	Vice Technology	Profile
Matthew Tenorio	Interim Officer	Profile
Anuj Aggarwal	Chief Officer	Profile

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