Synaptics Incorporated Correlations

SYNA Stock

USD 65.25 1.15 1.79%

The current 90-days correlation between Synaptics Incorporated and Allegro Microsystems is 0.22 (i.e., Modest diversification). The correlation of Synaptics Incorporated 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.

Synaptics Incorporated Correlation With Market

Weak diversification

The correlation between Synaptics Incorporated and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Synaptics Incorporated 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 Synaptics Incorporated. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

For information on how to trade Synaptics Stock refer to our How to Trade Synaptics Stock guide.

Moving together with Synaptics Stock

0.72	S	SentinelOne	Pair Corr
0.79	VRNS	Varonis Systems	Pair Corr
0.7	VRNT	Verint Systems Earnings Call Today	Pair Corr
0.72	EXTR	Extreme Networks	Pair Corr
0.69	FLEX	Flex	Pair Corr
0.84	CRM	Salesforce	Pair Corr
0.81	HPE	Hewlett Packard Ente Aggressive Push	Pair Corr
0.66	HPQ	HP Inc	Pair Corr
0.78	MSI	Motorola Solutions	Pair Corr
0.85	TDC	Teradata Corp	Pair Corr
0.71	WBX	Wallbox NV	Pair Corr
0.91	ZBRA	Zebra Technologies	Pair Corr
0.84	LITE	Lumentum Holdings Buyout Trend	Pair Corr
0.68	PATH	Uipath Inc	Pair Corr
0.79	AIRG	Airgain	Pair Corr

Moving against Synaptics Stock

0.79	VRSN	VeriSign	Pair Corr
0.57	JG	Aurora Mobile	Pair Corr
0.54	MQ	Marqeta	Pair Corr
0.32	BB	BlackBerry Earnings Call This Week	Pair Corr
0.81	NOK	Nokia Corp ADR	Pair Corr
0.51	MLGO	MicroAlgo Trending	Pair Corr
0.77	BRK-A	Berkshire Hathaway	Pair Corr
0.69	WM	Waste Management	Pair Corr

Related Correlations Analysis

	MCHP	ALGM	QRVO	MPWR	SWKS	LSCC	NXPI	MTSI	SLAB	POWI
MCHP		0.03	0.02	0.08	0.1	0.56	0.76	0.19	0.34	0.76	MCHP
ALGM	0.03		0.09	0.18	-0.58	0.37	0.26	-0.54	0.27	-0.29	ALGM
QRVO	0.02	0.09		0.53	0.25	-0.19	0.22	0.38	0.44	0.19	QRVO
MPWR	0.08	0.18	0.53		-0.24	0.11	0.53	0.27	0.75	0.28	MPWR
SWKS	0.1	-0.58	0.25	-0.24		-0.48	-0.29	0.79	-0.39	0.4	SWKS
LSCC	0.56	0.37	-0.19	0.11	-0.48		0.67	-0.39	0.3	0.28	LSCC
NXPI	0.76	0.26	0.22	0.53	-0.29	0.67		0.04	0.77	0.64	NXPI
MTSI	0.19	-0.54	0.38	0.27	0.79	-0.39	0.04		0.07	0.6	MTSI
SLAB	0.34	0.27	0.44	0.75	-0.39	0.3	0.77	0.07		0.41	SLAB
POWI	0.76	-0.29	0.19	0.28	0.4	0.28	0.64	0.6	0.41		POWI
	MCHP	ALGM	QRVO	MPWR	SWKS	LSCC	NXPI	MTSI	SLAB	POWI

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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

MTSI	+ 0.79	SWKS
SLAB	+ 0.77	NXPI
NXPI	+ 0.76	MCHP
POWI	+ 0.76	MCHP
SLAB	+ 0.75	MPWR
NXPI	+ 0.67	LSCC

High negative correlations

SWKS	- 0.58	ALGM
MTSI	- 0.54	ALGM
LSCC	- 0.48	SWKS
MTSI	- 0.39	LSCC
SLAB	- 0.39	SWKS
NXPI	- 0.29	SWKS

Risk-Adjusted Indicators

There is a big difference between Synaptics Stock performing well and Synaptics Incorporated 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 Synaptics Incorporated'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
MCHP	2.06	(0.03)	0.00	(0.06)	0.00	0.00	3.78	(5.01)	20.48
ALGM	2.87	0.38	0.11	0.46	3.16	(2.96)	5.21	(6.01)	23.19
QRVO	1.85	0.14	0.05	0.05	2.15	(2.00)	4.00	(4.08)	19.23
MPWR	2.60	0.12	0.02	0.04	3.65	(2.59)	6.10	(5.25)	19.42
SWKS	1.74	(0.30)	0.00	(0.34)	0.00	0.00	2.63	(3.98)	27.06
LSCC	2.15	(0.06)	0.00	0.10	0.00	0.00	4.59	(4.31)	13.59
NXPI	1.74	0.02	0.00	(0.02)	0.00	0.00	4.18	(3.80)	13.47
MTSI	2.38	(0.24)	0.00	(0.20)	0.00	0.00	4.66	(5.71)	20.65
SLAB	1.99	0.01	0.00	(0.03)	0.00	0.00	3.25	(4.70)	16.60
POWI	1.96	(0.15)	0.00	(0.17)	0.00	0.00	3.76	(4.06)	11.80

Synaptics Incorporated Corporate Management

Lisa Bodensteiner	Chief VP	Profile
Lisa JD	Chief VP	Profile
Esther Song	Corporate CP	Profile
Craig Stein	VP Division	Profile
Michael Brooker	Senior Officer	Profile

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