Teledyne Technologies Correlations

TDY Stock

USD 495.52 11.39 2.25%

The current 90-days correlation between Teledyne Technologies and Vontier Corp is 0.24 (i.e., Modest diversification). The correlation of Teledyne 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.

Teledyne Technologies Correlation With Market

Very weak diversification

The correlation between Teledyne Technologies Incorpor and DJI is 0.53 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Teledyne Technologies Incorpor 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 Teledyne Technologies 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 unemployment.

Moving together with Teledyne Stock

0.75

FARO

FARO Technologies

Pair Corr

Moving against Teledyne Stock

0.63	KNW	Know Labs	Pair Corr
0.54	ELSE	Electro Sensors	Pair Corr
0.46	WATT	Energous	Pair Corr
0.63	SVRE	SaverOne 2014	Pair Corr
0.49	SOTK	Sono Tek Corp	Pair Corr
0.45	DIOD	Diodes Incorporated	Pair Corr
0.34	NOVT	Novanta	Pair Corr
0.33	SOBR	Sobr Safe	Pair Corr
0.32	AI	C3 Ai Inc	Pair Corr

Related Correlations Analysis

	VNT	ESE	MKSI	ST	FTV	CGNX	NOVT	COHR	IIVI	MLAB
VNT		-0.26	0.8	0.25	0.83	0.61	0.63	0.69	0.0	0.83	VNT
ESE	-0.26		-0.64	0.23	0.07	-0.73	-0.67	-0.67	0.0	0.01	ESE
MKSI	0.8	-0.64		0.11	0.52	0.88	0.75	0.91	0.0	0.61	MKSI
ST	0.25	0.23	0.11		0.31	-0.12	0.08	0.06	0.0	0.37	ST
FTV	0.83	0.07	0.52	0.31		0.4	0.23	0.28	0.0	0.81	FTV
CGNX	0.61	-0.73	0.88	-0.12	0.4		0.75	0.79	0.0	0.49	CGNX
NOVT	0.63	-0.67	0.75	0.08	0.23	0.75		0.83	0.0	0.49	NOVT
COHR	0.69	-0.67	0.91	0.06	0.28	0.79	0.83		0.0	0.5	COHR
IIVI	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	IIVI
MLAB	0.83	0.01	0.61	0.37	0.81	0.49	0.49	0.5	0.0		MLAB
	VNT	ESE	MKSI	ST	FTV	CGNX	NOVT	COHR	IIVI	MLAB

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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

COHR	+ 0.91	MKSI
CGNX	+ 0.88	MKSI
FTV	+ 0.83	VNT
MLAB	+ 0.83	VNT
COHR	+ 0.83	NOVT
MLAB	+ 0.81	FTV

High negative correlations

CGNX	- 0.73	ESE
COHR	- 0.67	ESE
NOVT	- 0.67	ESE
MKSI	- 0.64	ESE
ESE	- 0.26	VNT
CGNX	- 0.12	ST

Risk-Adjusted Indicators

There is a big difference between Teledyne Stock performing well and Teledyne 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 Teledyne 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
VNT	1.32	(0.11)	0.00	(0.60)	0.00	0.00	3.00	(3.06)	8.33
ESE	1.67	0.29	0.18	0.28	1.46	(2.01)	2.60	(2.56)	24.14
MKSI	2.28	(0.24)	0.00	(2.02)	0.00	0.00	4.18	(6.61)	13.45
ST	1.60	(0.06)	0.00	(0.10)	0.00	0.00	2.73	(4.88)	14.38
FTV	0.93	0.03	0.07	1.80	1.12	(0.94)	1.87	(2.19)	5.10
CGNX	1.70	(0.19)	0.00	(0.28)	0.00	0.00	3.26	(3.61)	17.30
NOVT	1.19	(0.20)	0.00	(0.25)	0.00	0.00	1.65	(2.60)	10.19
COHR	3.67	(0.42)	0.00	5.46	0.00	0.00	6.19	(7.31)	25.13
IIVI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MLAB	2.25	(0.06)	0.00	0.20	0.00	0.00	4.28	(5.23)	13.66

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