Skywater Technology Correlations

SKYT Stock  USD 7.85  0.02  0.25%   
The current 90-days correlation between Skywater Technology and indie Semiconductor is 0.01 (i.e., Significant diversification). The correlation of Skywater Technology 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.

Skywater Technology Correlation With Market

Significant diversification

The correlation between Skywater Technology and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Skywater Technology and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Skywater Technology. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.
For more information on how to buy Skywater Stock please use our How to Invest in Skywater Technology guide.

Moving together with Skywater Stock

  0.61AMD Advanced Micro Devices Aggressive PushPairCorr
  0.66NVDA NVIDIAPairCorr
  0.72WKEY Wisekey InternationalPairCorr

Moving against Skywater Stock

  0.59LEDS SemiLEDS Tech BoostPairCorr
  0.49MQ MarqetaPairCorr
  0.34HIMX Himax TechnologiesPairCorr
  0.66ENFN EnfusionPairCorr
  0.53ZS ZscalerPairCorr
  0.36DOCN DigitalOcean HoldingsPairCorr

Related Correlations Analysis

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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   
NVTSINDI
SITMINDI
NVTSSITM
NVTSFTCI
FTCIINDI
SITMFTCI
  
High negative correlations   
ALGMINDI
ALGMSITM
ALGMNVTS
ALGMFTCI

Risk-Adjusted Indicators

There is a big difference between Skywater Stock performing well and Skywater Technology 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 Skywater Technology'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.

Skywater Technology Corporate Management

Christopher HilbergGeneral OfficerProfile
Sudhakar AdivikolanuSenior TechnologyProfile
Steve MankoChief OfficerProfile
Brad FergusonSenior ProgramsProfile
Steven KosierChief OfficerProfile
Ross MillerSenior BusinessProfile