Skywater Technology Correlations

SKYT Stock  USD 8.15  0.48  5.56%   
The current 90-days correlation between Skywater Technology and indie Semiconductor is -0.1 (i.e., Good 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

Good diversification

The correlation between Skywater Technology and DJI is -0.04 (i.e., Good 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

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  0.73TER TeradynePairCorr

Moving against Skywater Stock

  0.38TRT Trio Tech InternationalPairCorr
  0.35MX MagnaChip SemiconductorPairCorr
  0.34ENTG EntegrisPairCorr
  0.49LEDS SemiLEDSPairCorr
  0.44LSCC Lattice SemiconductorPairCorr
  0.4INTC IntelPairCorr
  0.4LRCX Lam Research CorpPairCorr
  0.35HIMX Himax Technologies Downward RallyPairCorr
  0.31KLAC KLA TencorPairCorr

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   
SITMINDI
NVTSINDI
NVTSSITM
NVTSFTCI
FTCIINDI
SITMFTCI
  
High negative correlations   
ALGMSITM
ALGMINDI
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