Wolfspeed Correlations

WOLF Stock

USD 5.93 0.48 8.81%

The current 90-days correlation between Wolfspeed and Lattice Semiconductor is 0.39 (i.e., Weak diversification). The correlation of Wolfspeed 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.

Wolfspeed Correlation With Market

Very weak diversification

The correlation between Wolfspeed and DJI is 0.4 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wolfspeed and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Wolfspeed. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

For more detail on how to invest in Wolfspeed Stock please use our How to Invest in Wolfspeed guide.

Moving together with Wolfspeed Stock

0.69	DIOD	Diodes Incorporated	Pair Corr
0.69	NA	Nano Labs	Pair Corr
0.84	ON	ON Semiconductor	Pair Corr
0.62	PI	Impinj Inc	Pair Corr
0.71	VECO	Veeco Instruments	Pair Corr
0.8	ENPH	Enphase Energy	Pair Corr
0.74	AMD	Advanced Micro Devices Aggressive Push	Pair Corr
0.75	CAN	Canaan Inc	Pair Corr
0.63	FORM	FormFactor	Pair Corr
0.67	FSLR	First Solar	Pair Corr
0.75	GFS	Globalfoundries Sell-off Trend	Pair Corr
0.71	JKS	JinkoSolar Holding	Pair Corr
0.74	XPER	Xperi Corp	Pair Corr
0.62	GCTS	GCT Semiconductor Holding Symbol Change	Pair Corr

Moving against Wolfspeed Stock

0.5	ADNWW	Advent Technologies	Pair Corr
0.46	LEDS	SemiLEDS Tech Boost	Pair Corr
0.44	KLAC	KLA Tencor	Pair Corr

Related Correlations Analysis

	NXPI	ADI	MCHP	MPWR	ON	LSCC	GSIT	MXL	TXN
NXPI		0.78	0.72	0.5	0.09	0.78	0.46	-0.05	0.66	NXPI
ADI	0.78		0.83	0.13	-0.02	0.69	0.26	-0.09	0.9	ADI
MCHP	0.72	0.83		-0.01	0.41	0.65	0.25	0.17	0.83	MCHP
MPWR	0.5	0.13	-0.01		-0.07	0.24	0.68	0.13	0.09	MPWR
ON	0.09	-0.02	0.41	-0.07		-0.06	0.26	0.69	0.24	ON
LSCC	0.78	0.69	0.65	0.24	-0.06		0.09	-0.36	0.48	LSCC
GSIT	0.46	0.26	0.25	0.68	0.26	0.09		0.49	0.34	GSIT
MXL	-0.05	-0.09	0.17	0.13	0.69	-0.36	0.49		0.2	MXL
TXN	0.66	0.9	0.83	0.09	0.24	0.48	0.34	0.2		TXN
	NXPI	ADI	MCHP	MPWR	ON	LSCC	GSIT	MXL	TXN

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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

TXN	+ 0.9	ADI
MCHP	+ 0.83	ADI
TXN	+ 0.83	MCHP
ADI	+ 0.78	NXPI
LSCC	+ 0.78	NXPI
MCHP	+ 0.72	NXPI

High negative correlations

MXL	- 0.36	LSCC
MXL	- 0.09	ADI
ON	- 0.07	MPWR
LSCC	- 0.06	ON
MXL	- 0.05	NXPI
ON	- 0.02	ADI

Risk-Adjusted Indicators

There is a big difference between Wolfspeed Stock performing well and Wolfspeed 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 Wolfspeed'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
NXPI	1.65	0.05	0.00	(0.06)	0.00	0.00	3.77	(3.80)	13.47
ADI	1.58	0.10	0.00	(0.02)	0.00	0.00	2.52	(3.66)	13.98
MCHP	1.93	0.00	0.00	(0.09)	0.00	0.00	3.29	(4.43)	20.48
MPWR	2.57	0.26	0.06	0.09	3.54	(2.55)	5.71	(5.25)	19.42
ON	2.31	(0.48)	0.00	(0.46)	0.00	0.00	3.58	(6.27)	13.14
LSCC	2.23	0.24	0.07	0.07	2.62	(2.41)	4.85	(4.31)	13.59
GSIT	4.55	0.26	0.03	0.04	5.63	(4.77)	7.59	(10.79)	55.45
MXL	3.98	(0.20)	0.00	(0.21)	0.00	0.00	6.45	(8.03)	27.60
TXN	1.41	0.03	0.00	(0.07)	0.00	0.00	2.70	(3.50)	10.22

Wolfspeed Corporate Management

John Palmour	Founder Wolfspeed	Profile
Rick Madormo	Senior Marketing	Profile
Marvin Riley	Independent Director	Profile
Priya Almelkar	Senior Officer	Profile
David Costar	VP Officer	Profile
Margaret Chadwick	Chief Officer	Profile

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