AXT Correlations

AXTI Stock

USD 2.45 0.13 5.60%

The current 90-days correlation between AXT Inc and Amtech Systems is -0.02 (i.e., Good diversification). The correlation of AXT 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.

AXT Correlation With Market

Very good diversification

The correlation between AXT Inc and DJI is -0.26 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AXT Inc and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with AXT Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in AXT Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with AXT Stock

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0.92	AMD	Advanced Micro Devices	Pair Corr
0.93	TSM	Taiwan Semiconductor	Pair Corr
0.74	INTC	Intel Earnings Call Tomorrow	Pair Corr
0.86	MRVL	Marvell Technology	Pair Corr
0.92	NVDA	NVIDIA	Pair Corr
0.93	NVMI	Nova	Pair Corr
0.67	OLED	Universal Display Earnings Call This Week	Pair Corr
0.84	QRVO	Qorvo Inc Earnings Call This Week	Pair Corr
0.67	AMBA	Ambarella	Pair Corr
0.89	AVGO	Broadcom	Pair Corr
0.82	TSEM	Tower Semiconductor	Pair Corr
0.92	CAMT	Camtek Earnings Call This Week	Pair Corr
0.76	VRRM	Verra Mobility Corp	Pair Corr
0.73	ENLV	Enlivex Therapeutics	Pair Corr
0.81	FRGE	Forge Global Holdings	Pair Corr
0.87	IBM	International Business Earnings Call Today	Pair Corr
0.85	LPL	LG Display Earnings Call Today	Pair Corr
0.71	GILT	Gilat Satellite Networks	Pair Corr
0.69	ITRN	Ituran Location	Pair Corr
0.9	LITE	Lumentum Holdings	Pair Corr
0.68	MITK	Mitek Systems Earnings Call Tomorrow	Pair Corr
0.85	MSFT	Microsoft Earnings Call This Week	Pair Corr
0.68	RGTIW	Rigetti Computing Downward Rally	Pair Corr
0.67	QBTS	D Wave Quantum Aggressive Push	Pair Corr
0.91	QUBT	Quantum Computing Downward Rally	Pair Corr
0.9	RDWR	Radware Earnings Call This Week	Pair Corr
0.68	RGTI	Rigetti Computing Aggressive Push	Pair Corr
0.85	AAOI	Applied Opt	Pair Corr

Moving against AXT Stock

0.77	ARQQW	Arqit Quantum Warrants	Pair Corr
0.66	QMCO	Quantum	Pair Corr

Related Correlations Analysis

	VECO	ICHR	IPGP	NVMI	UCTT	ASYS	COHU	ONTO	KLIC	ENTG
VECO		0.48	0.84	0.69	0.74	0.63	0.89	-0.51	0.89	0.59	VECO
ICHR	0.48		0.55	0.72	0.84	0.55	0.62	0.15	0.69	0.75	ICHR
IPGP	0.84	0.55		0.84	0.76	0.85	0.95	-0.63	0.9	0.59	IPGP
NVMI	0.69	0.72	0.84		0.82	0.91	0.89	-0.35	0.88	0.72	NVMI
UCTT	0.74	0.84	0.76	0.82		0.71	0.84	-0.26	0.84	0.74	UCTT
ASYS	0.63	0.55	0.85	0.91	0.71		0.86	-0.5	0.8	0.53	ASYS
COHU	0.89	0.62	0.95	0.89	0.84	0.86		-0.54	0.97	0.63	COHU
ONTO	-0.51	0.15	-0.63	-0.35	-0.26	-0.5	-0.54		-0.43	0.01	ONTO
KLIC	0.89	0.69	0.9	0.88	0.84	0.8	0.97	-0.43		0.72	KLIC
ENTG	0.59	0.75	0.59	0.72	0.74	0.53	0.63	0.01	0.72		ENTG
	VECO	ICHR	IPGP	NVMI	UCTT	ASYS	COHU	ONTO	KLIC	ENTG

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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

KLIC	+ 0.97	COHU
COHU	+ 0.95	IPGP
ASYS	+ 0.91	NVMI
KLIC	+ 0.9	IPGP
COHU	+ 0.89	VECO
KLIC	+ 0.89	VECO

High negative correlations

ONTO	- 0.63	IPGP
ONTO	- 0.54	COHU
ONTO	- 0.51	VECO
ONTO	- 0.5	ASYS
KLIC	- 0.43	ONTO
ONTO	- 0.35	NVMI

Risk-Adjusted Indicators

There is a big difference between AXT Stock performing well and AXT 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 AXT'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
VECO	2.06	(0.05)	0.03	0.14	1.88	(2.50)	5.35	(3.47)	13.89
ICHR	3.09	0.04	0.06	0.18	4.72	(3.28)	8.28	(5.50)	33.78
IPGP	1.75	0.29	0.13	0.33	2.34	(1.85)	3.78	(2.48)	18.19
NVMI	2.34	0.51	0.25	0.57	1.70	(2.93)	6.60	(3.03)	15.15
UCTT	2.78	0.08	0.08	0.21	3.31	(3.20)	8.15	(4.43)	23.72
ASYS	2.60	0.26	0.09	0.40	2.73	(3.12)	6.03	(6.11)	20.26
COHU	2.13	0.28	0.17	0.33	1.86	(2.52)	6.05	(3.61)	13.20
ONTO	2.68	(0.44)	0.00	(0.08)	0.00	0.00	5.06	(5.13)	35.49
KLIC	1.67	0.09	0.08	0.24	1.39	(1.96)	3.88	(2.34)	9.61
ENTG	2.40	0.49	0.08	(0.84)	2.61	(2.66)	7.58	(5.08)	15.55

AXT Corporate Executives

Elected by the shareholders, the AXT's board of directors comprises two types of representatives: AXT inside directors who are chosen from within the company, and outside directors, selected externally and held independent of AXT. The board's role is to monitor AXT's management team and ensure that shareholders' interests are well served. AXT's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, AXT's outside directors are responsible for providing unbiased perspectives on the board's policies.

Gary Fischer

CFO, VP and Corporate Secretary

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