Smart Global Correlations

Summary

SGHDelisted Stock

USD 20.41 0.36 1.80%

The current 90-days correlation between Smart Global Holdings and Silicon Motion Technology is -0.23 (i.e., Very good diversification). The correlation of Smart Global 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.

Smart Global Correlation With Market

Good diversification

The correlation between Smart Global Holdings and DJI is -0.16 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Smart Global Holdings and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with Smart Stock

0.63

Ecopetrol SA ADR Sell-off Trend

Pair Corr

Moving against Smart Stock

0.62	T	ATT Inc Fiscal Year End 22nd of January 2025	Pair Corr
0.61	HD	Home Depot	Pair Corr
0.58	CSCO	Cisco Systems Sell-off Trend	Pair Corr
0.57	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.55	IBM	International Business Fiscal Year End 22nd of January 2025	Pair Corr
0.54	SSNLF	Samsung Electronics	Pair Corr
0.54	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.53	GE	GE Aerospace Fiscal Year End 28th of January 2025	Pair Corr
0.49	HPQ	HP Inc	Pair Corr
0.45	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.41	MSFT	Microsoft Aggressive Push	Pair Corr
0.36	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr
0.35	CVX	Chevron Corp Sell-off Trend	Pair Corr

Related Correlations Analysis

	SIMO	MTSI	SMTC	AOSL	MX	MXL	DIOD	SITM	LASR	CEVA
SIMO		-0.52	-0.49	0.59	0.72	-0.32	0.6	-0.51	-0.04	-0.45	SIMO
MTSI	-0.52		0.77	-0.24	-0.63	0.61	-0.07	0.95	0.26	0.89	MTSI
SMTC	-0.49	0.77		0.01	-0.46	0.56	0.05	0.71	0.1	0.77	SMTC
AOSL	0.59	-0.24	0.01		0.58	-0.08	0.61	-0.27	-0.14	-0.15	AOSL
MX	0.72	-0.63	-0.46	0.58		-0.33	0.58	-0.58	-0.18	-0.68	MX
MXL	-0.32	0.61	0.56	-0.08	-0.33		-0.02	0.57	0.04	0.57	MXL
DIOD	0.6	-0.07	0.05	0.61	0.58	-0.02		-0.16	0.25	-0.15	DIOD
SITM	-0.51	0.95	0.71	-0.27	-0.58	0.57	-0.16		0.18	0.85	SITM
LASR	-0.04	0.26	0.1	-0.14	-0.18	0.04	0.25	0.18		0.07	LASR
CEVA	-0.45	0.89	0.77	-0.15	-0.68	0.57	-0.15	0.85	0.07		CEVA
	SIMO	MTSI	SMTC	AOSL	MX	MXL	DIOD	SITM	LASR	CEVA

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

SITM	+ 0.95	MTSI
CEVA	+ 0.89	MTSI
CEVA	+ 0.85	SITM
SMTC	+ 0.77	MTSI
CEVA	+ 0.77	SMTC
MX	+ 0.72	SIMO

High negative correlations

CEVA	- 0.68	MX
MX	- 0.63	MTSI
SITM	- 0.58	MX
MTSI	- 0.52	SIMO
SITM	- 0.51	SIMO
SMTC	- 0.49	SIMO

Risk-Adjusted Indicators

There is a big difference between Smart Stock performing well and Smart Global 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 Smart Global'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
SIMO	1.91	(0.35)	0.00	(0.18)	0.00	0.00	3.26	(4.40)	12.89
MTSI	2.08	0.16	0.10	0.22	2.38	(2.40)	5.00	(3.42)	17.09
SMTC	2.96	0.50	0.17	0.45	2.87	(3.53)	6.02	(5.66)	16.37
AOSL	4.08	(0.19)	0.01	0.06	5.26	(4.52)	8.90	(7.01)	42.09
MX	1.88	(0.16)	0.00	(0.41)	0.00	0.00	4.02	(3.81)	17.81
MXL	3.40	0.00	0.07	0.13	4.16	(3.85)	8.45	(6.75)	27.68
DIOD	2.29	(0.31)	0.00	(0.01)	0.00	0.00	4.92	(4.41)	12.81
SITM	2.56	0.46	0.17	0.36	2.58	(2.68)	6.98	(4.87)	23.86
LASR	2.73	(0.26)	(0.02)	0.01	4.60	(3.02)	4.41	(3.69)	51.57
CEVA	2.09	0.23	0.13	0.31	1.83	(2.77)	4.62	(3.65)	20.17

Delisting Warning - SGH

Smart Global Holdings was delisted

The entity Smart Global Holdings with a symbol SGH was delisted from NASDAQ Exchange. Please try Penguin Solutions, with a symbol PENG from now on. Check all delisted instruments accross multiple markets.

Smart Global Corporate Management

Mark Seamans	Vice Marketing	Profile
David Laurello	Senior Solutions	Profile
Claude Demby	Consultant	Profile
Joseph Clark	Senior Solutions	Profile
Anne JD	Senior Officer	Profile

Still Interested in Smart Global Holdings?

Investing in delisted delisted stocks can be risky, as the stock is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.

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