Teradyne Correlations

TER Stock

USD 113.58 2.33 2.01%

The current 90-days correlation between Teradyne and Ultra Clean Holdings is 0.08 (i.e., Significant diversification). The correlation of Teradyne 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.

Teradyne Correlation With Market

Good diversification

The correlation between Teradyne and DJI is -0.18 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Teradyne 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 Teradyne. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.

To learn how to invest in Teradyne Stock, please use our How to Invest in Teradyne guide.

Moving together with Teradyne Stock

0.61	EXTR	Extreme Networks	Pair Corr
0.86	JNPR	Juniper Networks	Pair Corr

Moving against Teradyne Stock

0.72	S	SentinelOne	Pair Corr
0.57	INTC	Intel Downward Rally	Pair Corr
0.43	IT	Gartner	Pair Corr
0.37	EPAM	EPAM Systems	Pair Corr
0.36	DXC	DXC Technology	Pair Corr
0.6	INFN	Infinera Earnings Call This Week	Pair Corr
0.45	PRO	PROS Holdings	Pair Corr
0.37	IBM	International Business	Pair Corr
0.36	MSI	Motorola Solutions	Pair Corr
0.31	MLNK	Meridianlink	Pair Corr

Related Correlations Analysis

	IPGP	UCTT	ONTO	COHU	LRCX	AMAT	ASML	ACLS	ENTG	ICHR
IPGP		0.31	0.1	0.88	-0.57	0.01	-0.4	0.93	0.03	0.06	IPGP
UCTT	0.31		0.25	0.31	0.28	0.45	0.27	0.29	0.36	0.58	UCTT
ONTO	0.1	0.25		-0.17	0.34	0.73	0.55	-0.08	-0.2	-0.41	ONTO
COHU	0.88	0.31	-0.17		-0.66	-0.25	-0.41	0.9	0.0	0.3	COHU
LRCX	-0.57	0.28	0.34	-0.66		0.55	0.78	-0.58	0.43	0.18	LRCX
AMAT	0.01	0.45	0.73	-0.25	0.55		0.53	-0.07	0.22	-0.03	AMAT
ASML	-0.4	0.27	0.55	-0.41	0.78	0.53		-0.44	0.21	0.07	ASML
ACLS	0.93	0.29	-0.08	0.9	-0.58	-0.07	-0.44		0.06	0.23	ACLS
ENTG	0.03	0.36	-0.2	0.0	0.43	0.22	0.21	0.06		0.51	ENTG
ICHR	0.06	0.58	-0.41	0.3	0.18	-0.03	0.07	0.23	0.51		ICHR
	IPGP	UCTT	ONTO	COHU	LRCX	AMAT	ASML	ACLS	ENTG	ICHR

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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

ACLS	+ 0.93	IPGP
ACLS	+ 0.9	COHU
COHU	+ 0.88	IPGP
ASML	+ 0.78	LRCX
AMAT	+ 0.73	ONTO
ICHR	+ 0.58	UCTT

High negative correlations

LRCX	- 0.66	COHU
ACLS	- 0.58	LRCX
LRCX	- 0.57	IPGP
ACLS	- 0.44	ASML
ASML	- 0.41	COHU
ICHR	- 0.41	ONTO

Risk-Adjusted Indicators

There is a big difference between Teradyne Stock performing well and Teradyne 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 Teradyne'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
IPGP	1.72	(0.28)	0.00	(0.28)	0.00	0.00	3.36	(3.91)	11.51
UCTT	2.60	(0.37)	0.00	(0.79)	0.00	0.00	3.91	(4.20)	14.77
ONTO	2.40	(0.06)	0.00	(0.06)	0.00	0.00	5.03	(4.40)	21.06
COHU	2.05	(0.38)	0.00	(0.54)	0.00	0.00	3.10	(5.28)	13.60
LRCX	1.97	0.22	0.09	0.50	2.17	(2.19)	4.45	(3.66)	11.58
AMAT	1.73	(0.03)	0.00	(0.03)	0.00	0.00	3.78	(3.01)	13.07
ASML	1.42	0.15	0.09	2.57	1.49	(1.72)	3.42	(2.44)	13.33
ACLS	1.92	(0.21)	0.00	(0.22)	0.00	0.00	3.92	(3.90)	18.06
ENTG	1.77	0.09	0.03	(4.98)	2.27	(1.82)	3.47	(3.97)	11.79
ICHR	2.68	0.04	0.01	0.05	3.14	(3.00)	5.12	(5.06)	18.65

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