Skyworks Solutions Correlations

SWKS Stock

USD 67.25 1.14 1.67%

The current 90-days correlation between Skyworks Solutions and Microchip Technology is 0.31 (i.e., Weak diversification). The correlation of Skyworks Solutions 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.

Skyworks Solutions Correlation With Market

Modest diversification

The correlation between Skyworks Solutions and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Skyworks Solutions 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 Skyworks Solutions. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in industry.

For more information on how to buy Skyworks Stock please use our How to Invest in Skyworks Solutions guide.

Moving together with Skyworks Stock

0.64	NN	Nextnav Acquisition Corp	Pair Corr
0.77	VRNS	Varonis Systems	Pair Corr
0.79	EXTR	Extreme Networks	Pair Corr
0.67	CRM	Salesforce	Pair Corr
0.65	MSI	Motorola Solutions	Pair Corr
0.84	TDC	Teradata Corp	Pair Corr
0.87	ZBRA	Zebra Technologies	Pair Corr
0.65	JNPR	Juniper Networks	Pair Corr
0.72	LITE	Lumentum Holdings	Pair Corr

Moving against Skyworks Stock

0.87	VRSN	VeriSign	Pair Corr
0.8	JG	Aurora Mobile	Pair Corr
0.72	BB	BlackBerry	Pair Corr
0.59	ZS	Zscaler	Pair Corr
0.56	DOCN	DigitalOcean Holdings	Pair Corr
0.34	MQ	Marqeta	Pair Corr
0.82	NOK	Nokia Corp ADR	Pair Corr
0.71	FTNT	Fortinet	Pair Corr
0.49	GWRE	Guidewire Software	Pair Corr
0.4	MLGO	MicroAlgo	Pair Corr
0.88	WM	Waste Management	Pair Corr
0.77	BRK-A	Berkshire Hathaway	Pair Corr

Related Correlations Analysis

	MCHP	LSCC	SYNA	NXPI	TXN	ON	ADI	QRVO	WOLF	MPWR
MCHP		0.59	0.18	0.76	0.87	0.39	0.89	0.0	0.46	0.07	MCHP
LSCC	0.59		-0.38	0.73	0.44	-0.13	0.66	-0.15	0.23	0.24	LSCC
SYNA	0.18	-0.38		0.04	0.15	0.68	-0.07	0.54	0.49	0.19	SYNA
NXPI	0.76	0.73	0.04		0.67	0.13	0.8	0.21	0.29	0.53	NXPI
TXN	0.87	0.44	0.15	0.67		0.28	0.9	0.04	0.27	0.12	TXN
ON	0.39	-0.13	0.68	0.13	0.28		0.04	-0.09	0.8	0.0	ON
ADI	0.89	0.66	-0.07	0.8	0.9	0.04		0.06	0.18	0.15	ADI
QRVO	0.0	-0.15	0.54	0.21	0.04	-0.09	0.06		-0.12	0.54	QRVO
WOLF	0.46	0.23	0.49	0.29	0.27	0.8	0.18	-0.12		0.05	WOLF
MPWR	0.07	0.24	0.19	0.53	0.12	0.0	0.15	0.54	0.05		MPWR
	MCHP	LSCC	SYNA	NXPI	TXN	ON	ADI	QRVO	WOLF	MPWR

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

ADI	+ 0.9	TXN
ADI	+ 0.89	MCHP
TXN	+ 0.87	MCHP
ADI	+ 0.8	NXPI
WOLF	+ 0.8	ON
NXPI	+ 0.76	MCHP

High negative correlations

SYNA	- 0.38	LSCC
QRVO	- 0.15	LSCC
ON	- 0.13	LSCC
WOLF	- 0.12	QRVO
QRVO	- 0.09	ON
ADI	- 0.07	SYNA

Risk-Adjusted Indicators

There is a big difference between Skyworks Stock performing well and Skyworks Solutions 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 Skyworks Solutions' 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
MCHP	2.02	(0.07)	0.00	(0.11)	0.00	0.00	3.29	(5.01)	20.48
LSCC	2.15	0.06	0.00	(0.03)	0.00	0.00	4.59	(4.31)	13.59
SYNA	2.36	(0.20)	0.00	(0.23)	0.00	0.00	5.23	(4.68)	21.71
NXPI	1.67	(0.02)	0.00	(0.09)	0.00	0.00	3.77	(3.80)	13.47
TXN	1.44	(0.01)	0.00	(0.08)	0.00	0.00	2.70	(3.50)	10.22
ON	2.29	(0.49)	0.00	(0.44)	0.00	0.00	3.58	(6.27)	13.14
ADI	1.60	0.02	0.00	(0.05)	0.00	0.00	2.52	(3.66)	13.98
QRVO	1.84	0.18	0.06	0.05	2.15	(1.99)	4.00	(4.08)	19.23
WOLF	5.74	0.16	0.00	(0.03)	0.00	0.00	14.48	(9.81)	48.97
MPWR	2.56	0.11	0.02	0.01	3.77	(2.51)	5.71	(5.25)	19.42

Skyworks Solutions Corporate Management

Philip Carter	VP Officer	Profile
Karilee Durham	Senior Resources	Profile
Brian Mirkin	Senior Solutions	Profile
Reza Kasnavi	Senior Manufacturing	Profile

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