Wolfspeed Correlations

WOLF Stock

USD 5.93 0.19 3.31%

The current 90-days correlation between Wolfspeed and Monolithic Power Systems is 0.31 (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

Weak diversification

The correlation between Wolfspeed and DJI is 0.35 (i.e., 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

0.61	S	SentinelOne	Pair Corr
0.67	KE	Kimball Electronics	Pair Corr
0.69	BDC	Belden Inc	Pair Corr
0.71	CTS	CTS Corporation	Pair Corr
0.62	IPGP	IPG Photonics	Pair Corr
0.82	MLNK	Meridianlink	Pair Corr
0.72	PRGS	Progress Software	Pair Corr

Moving against Wolfspeed Stock

0.55	KLAC	KLA Tencor	Pair Corr
0.53	ENFN	Enfusion	Pair Corr
0.49	CDW	CDW Corp	Pair Corr
0.48	KD	Kyndryl Holdings Sell-off Trend	Pair Corr
0.39	ARM	Arm Holdings plc	Pair Corr
0.68	VHC	VirnetX Holding Corp	Pair Corr
0.61	NOK	Nokia Corp ADR	Pair Corr
0.61	NOTE	FiscalNote Holdings	Pair Corr
0.59	NTGR	NETGEAR	Pair Corr
0.59	ADTN	ADTRAN Inc	Pair Corr
0.54	CIEN	Ciena Corp Earnings Call This Week	Pair Corr
0.5	TWLO	Twilio Inc	Pair Corr
0.48	CLFD	Clearfield	Pair Corr

Related Correlations Analysis

	NXPI	ADI	MCHP	MPWR	ON	LSCC	GSIT	MXL	TXN
NXPI		0.73	0.73	0.09	0.24	0.52	0.32	-0.49	0.68	NXPI
ADI	0.73		0.47	0.16	0.05	0.67	0.41	0.02	0.68	ADI
MCHP	0.73	0.47		-0.5	0.73	0.05	0.02	-0.4	0.84	MCHP
MPWR	0.09	0.16	-0.5		-0.73	0.45	0.52	0.06	-0.33	MPWR
ON	0.24	0.05	0.73	-0.73		-0.13	-0.27	-0.14	0.49	ON
LSCC	0.52	0.67	0.05	0.45	-0.13		0.32	0.05	0.12	LSCC
GSIT	0.32	0.41	0.02	0.52	-0.27	0.32		0.11	0.12	GSIT
MXL	-0.49	0.02	-0.4	0.06	-0.14	0.05	0.11		-0.25	MXL
TXN	0.68	0.68	0.84	-0.33	0.49	0.12	0.12	-0.25		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	+ 0.84	MCHP
ADI	+ 0.73	NXPI
MCHP	+ 0.73	NXPI
ON	+ 0.73	MCHP
TXN	+ 0.68	NXPI
TXN	+ 0.68	ADI

High negative correlations

ON	- 0.73	MPWR
MPWR	- 0.5	MCHP
MXL	- 0.49	NXPI
MXL	- 0.4	MCHP
TXN	- 0.33	MPWR
GSIT	- 0.27	ON

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	1.55	0.06	0.03	0.09	1.75	(1.67)	3.30	(2.94)	11.10
ADI	1.43	0.19	0.10	0.19	1.64	(1.54)	2.52	(2.83)	11.75
MCHP	1.94	(0.08)	0.00	(0.07)	0.00	0.00	4.25	(5.34)	14.92
MPWR	2.17	0.19	0.06	0.39	2.85	(2.24)	4.79	(4.79)	19.42
ON	2.24	(0.37)	0.00	(0.39)	0.00	0.00	3.98	(5.60)	12.19
LSCC	2.16	0.42	0.17	0.38	2.19	(2.46)	4.91	(3.76)	12.76
GSIT	4.61	0.46	0.08	0.34	5.29	(5.08)	7.66	(10.79)	55.45
MXL	3.97	0.15	0.02	0.11	6.33	(3.81)	7.51	(7.74)	30.86
TXN	1.28	(0.04)	0.00	(0.06)	0.00	0.00	2.70	(2.95)	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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