Photronics Correlations

PLAB Stock

USD 21.43 0.04 0.19%

The current 90-days correlation between Photronics and Kulicke and Soffa is 0.66 (i.e., Poor diversification). The correlation of Photronics 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.

Photronics Correlation With Market

Modest diversification

The correlation between Photronics and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Photronics and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Photronics. 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.

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

Moving together with Photronics Stock

0.87	DIOD	Diodes Incorporated	Pair Corr
0.83	NA	Nano Labs	Pair Corr
0.87	ON	ON Semiconductor	Pair Corr
0.89	PI	Impinj Inc	Pair Corr
0.9	VECO	Veeco Instruments	Pair Corr
0.81	ENPH	Enphase Energy	Pair Corr
0.75	WOLF	Wolfspeed Buyout Trend	Pair Corr
0.91	AMD	Advanced Micro Devices Aggressive Push	Pair Corr
0.93	CAN	Canaan Inc	Pair Corr
0.84	FORM	FormFactor	Pair Corr
0.71	CVV	CVD Equipment Earnings Call This Week	Pair Corr
0.92	FSLR	First Solar	Pair Corr
0.7	GFS	Globalfoundries Sell-off Trend	Pair Corr
0.63	JKS	JinkoSolar Holding	Pair Corr
0.73	MXL	MaxLinear	Pair Corr
0.85	XPER	Xperi Corp	Pair Corr
0.69	TER	Teradyne	Pair Corr
0.88	GCTS	GCT Semiconductor Holding Symbol Change	Pair Corr
0.8	INDI	indie Semiconductor	Pair Corr

Moving against Photronics Stock

0.36	MX	MagnaChip Semiconductor	Pair Corr
0.31	DQ	Daqo New Energy	Pair Corr
0.62	LEDS	SemiLEDS Tech Boost	Pair Corr
0.47	HIMX	Himax Technologies	Pair Corr
0.42	INTC	Intel Downward Rally	Pair Corr
0.4	KLAC	KLA Tencor	Pair Corr

Related Correlations Analysis

	AEHR	LRCX	KLAC	KLIC	COHU	ONTO	UCTT	ACLS	ICHR	ENTG
AEHR		-0.33	-0.44	0.8	0.85	0.45	0.64	0.74	0.52	0.05	AEHR
LRCX	-0.33		0.87	-0.2	-0.26	0.24	0.26	-0.23	0.35	0.65	LRCX
KLAC	-0.44	0.87		-0.34	-0.41	0.36	0.12	-0.35	0.06	0.42	KLAC
KLIC	0.8	-0.2	-0.34		0.98	0.64	0.81	0.95	0.58	0.38	KLIC
COHU	0.85	-0.26	-0.41	0.98		0.61	0.79	0.92	0.59	0.33	COHU
ONTO	0.45	0.24	0.36	0.64	0.61		0.8	0.64	0.33	0.4	ONTO
UCTT	0.64	0.26	0.12	0.81	0.79	0.8		0.76	0.71	0.58	UCTT
ACLS	0.74	-0.23	-0.35	0.95	0.92	0.64	0.76		0.46	0.32	ACLS
ICHR	0.52	0.35	0.06	0.58	0.59	0.33	0.71	0.46		0.68	ICHR
ENTG	0.05	0.65	0.42	0.38	0.33	0.4	0.58	0.32	0.68		ENTG
	AEHR	LRCX	KLAC	KLIC	COHU	ONTO	UCTT	ACLS	ICHR	ENTG

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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

COHU	+ 0.98	KLIC
ACLS	+ 0.95	KLIC
ACLS	+ 0.92	COHU
KLAC	+ 0.87	LRCX
COHU	+ 0.85	AEHR
UCTT	+ 0.81	KLIC

High negative correlations

KLAC	- 0.44	AEHR
COHU	- 0.41	KLAC
ACLS	- 0.35	KLAC
KLIC	- 0.34	KLAC
LRCX	- 0.33	AEHR
COHU	- 0.26	LRCX

Risk-Adjusted Indicators

There is a big difference between Photronics Stock performing well and Photronics 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 Photronics' 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
AEHR	4.34	(0.08)	0.00	(0.17)	0.00	0.00	7.69	(7.91)	52.75
LRCX	2.12	0.18	0.06	0.08	2.74	(2.15)	4.45	(5.09)	14.02
KLAC	1.67	0.27	0.11	0.16	2.31	(1.63)	4.13	(3.68)	11.35
KLIC	1.56	(0.34)	0.00	(0.48)	0.00	0.00	2.71	(4.89)	9.76
COHU	2.24	(0.58)	0.00	(0.72)	0.00	0.00	3.10	(6.87)	14.30
ONTO	2.71	(0.10)	0.00	(0.18)	0.00	0.00	5.89	(6.63)	21.06
UCTT	2.79	(0.41)	0.00	(0.58)	0.00	0.00	4.52	(5.78)	32.72
ACLS	1.95	(0.33)	0.00	(0.50)	0.00	0.00	3.46	(5.01)	18.06
ICHR	2.82	(0.10)	0.00	(0.18)	0.00	0.00	4.80	(5.46)	24.85
ENTG	2.04	0.04	0.00	(0.06)	0.00	0.00	3.84	(5.19)	11.25

Photronics Corporate Management

Christopher Lutzo	General VP	Profile
KangJyh Lee	CEO Director	Profile
Todd Alesio	Vice Resources	Profile
Richelle Esq	Chief VP	Profile
David Wang	US IC	Profile
Debbie Wierzbicki	Senior Control	Profile

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