Sensata Technologies Correlations

ST Stock

USD 27.46 0.39 1.40%

The current 90-days correlation between Sensata Technologies and Coherent is 0.21 (i.e., Modest diversification). The correlation of Sensata Technologies 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.

Sensata Technologies Correlation With Market

Weak diversification

The correlation between Sensata Technologies Holding and DJI is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sensata Technologies Holding 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 Sensata Technologies Holding. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving against Sensata Stock

0.49	ODYS	Odysightai Common Stock Tech Boost	Pair Corr
0.37	ITRI	Itron Inc	Pair Corr

Related Correlations Analysis

	COHR	ESE	MLAB	VPG	VNT	TDY	MKSI	SOTK	NOVT	BMI
COHR		-0.68	0.54	0.35	0.7	-0.25	0.92	0.79	0.84	0.68	COHR
ESE	-0.68		-0.02	0.2	-0.29	0.38	-0.66	-0.69	-0.68	-0.33	ESE
MLAB	0.54	-0.02		0.58	0.83	0.2	0.61	0.37	0.56	0.74	MLAB
VPG	0.35	0.2	0.58		0.69	0.18	0.37	0.18	0.2	0.42	VPG
VNT	0.7	-0.29	0.83	0.69		0.27	0.79	0.48	0.66	0.75	VNT
TDY	-0.25	0.38	0.2	0.18	0.27		-0.08	-0.44	-0.28	-0.08	TDY
MKSI	0.92	-0.66	0.61	0.37	0.79	-0.08		0.67	0.77	0.67	MKSI
SOTK	0.79	-0.69	0.37	0.18	0.48	-0.44	0.67		0.81	0.6	SOTK
NOVT	0.84	-0.68	0.56	0.2	0.66	-0.28	0.77	0.81		0.77	NOVT
BMI	0.68	-0.33	0.74	0.42	0.75	-0.08	0.67	0.6	0.77		BMI
	COHR	ESE	MLAB	VPG	VNT	TDY	MKSI	SOTK	NOVT	BMI

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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

MKSI	+ 0.92	COHR
NOVT	+ 0.84	COHR
VNT	+ 0.83	MLAB
NOVT	+ 0.81	SOTK
SOTK	+ 0.79	COHR
MKSI	+ 0.79	VNT

High negative correlations

SOTK	- 0.69	ESE
NOVT	- 0.68	ESE
ESE	- 0.68	COHR
MKSI	- 0.66	ESE
SOTK	- 0.44	TDY
BMI	- 0.33	ESE

Risk-Adjusted Indicators

There is a big difference between Sensata Stock performing well and Sensata 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 Sensata 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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
COHR	3.82	(0.42)	0.00	(0.21)	0.00	0.00	6.19	(7.31)	25.13
ESE	1.68	0.31	0.19	0.43	1.37	(2.05)	2.60	(2.40)	24.14
MLAB	2.23	(0.13)	0.00	(0.08)	0.00	0.00	4.28	(5.23)	13.66
VPG	1.68	(0.04)	0.00	(0.03)	0.00	0.00	3.74	(3.32)	14.71
VNT	1.34	(0.13)	0.00	(0.10)	0.00	0.00	3.00	(3.06)	8.33
TDY	1.02	0.11	0.09	0.14	1.16	(1.13)	1.98	(1.70)	10.41
MKSI	2.32	(0.28)	0.00	(0.21)	0.00	0.00	4.18	(6.61)	13.45
SOTK	2.04	(0.14)	0.00	(0.60)	0.00	0.00	4.64	(4.07)	15.16
NOVT	1.20	(0.25)	0.00	(0.30)	0.00	0.00	1.65	(2.47)	10.19
BMI	1.27	(0.21)	0.00	(0.23)	0.00	0.00	2.17	(3.63)	6.90

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