Cognex Correlations

CGNX Stock

USD 38.40 0.18 0.47%

The current 90-days correlation between Cognex and TTM Technologies is 0.47 (i.e., Very weak diversification). The correlation of Cognex 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.

Cognex Correlation With Market

Very weak diversification

The correlation between Cognex and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cognex and DJI in the same portfolio, assuming nothing else is changed.

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

For more information on how to buy Cognex Stock please use our How to Invest in Cognex guide.

Moving together with Cognex Stock

0.71

ZEPP

Zepp Health Corp Upward Rally

Pair Corr

Moving against Cognex Stock

0.56	TTG	TT Electronics Plc	Pair Corr
0.41	000829	Telling Telecommunicatio	Pair Corr
0.34	600082	Tianjin Hi Tech	Pair Corr
0.33	300076	Ningbo GQY Video	Pair Corr
0.31	002268	Westone Information	Pair Corr

Related Correlations Analysis

	TTMI	SANM	LFUS	ESE	NOVT	BMI	OLED	VNT	WAY	DSGX
TTMI		0.73	-0.37	0.75	-0.04	-0.03	0.05	-0.68	-0.04	-0.73	TTMI
SANM	0.73		-0.48	0.6	0.14	0.26	-0.18	-0.72	-0.1	-0.77	SANM
LFUS	-0.37	-0.48		0.06	-0.03	-0.2	0.24	0.75	0.5	0.65	LFUS
ESE	0.75	0.6	0.06		0.02	-0.33	0.18	-0.4	0.35	-0.48	ESE
NOVT	-0.04	0.14	-0.03	0.02		0.49	0.14	0.15	0.08	0.02	NOVT
BMI	-0.03	0.26	-0.2	-0.33	0.49		-0.16	0.05	-0.37	-0.16	BMI
OLED	0.05	-0.18	0.24	0.18	0.14	-0.16		0.17	0.26	0.0	OLED
VNT	-0.68	-0.72	0.75	-0.4	0.15	0.05	0.17		0.34	0.77	VNT
WAY	-0.04	-0.1	0.5	0.35	0.08	-0.37	0.26	0.34		0.31	WAY
DSGX	-0.73	-0.77	0.65	-0.48	0.02	-0.16	0.0	0.77	0.31		DSGX
	TTMI	SANM	LFUS	ESE	NOVT	BMI	OLED	VNT	WAY	DSGX

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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

DSGX	+ 0.77	VNT
ESE	+ 0.75	TTMI
VNT	+ 0.75	LFUS
SANM	+ 0.73	TTMI
DSGX	+ 0.65	LFUS
ESE	+ 0.6	SANM

High negative correlations

DSGX	- 0.77	SANM
DSGX	- 0.73	TTMI
VNT	- 0.72	SANM
VNT	- 0.68	TTMI
DSGX	- 0.48	ESE
LFUS	- 0.48	SANM

Risk-Adjusted Indicators

There is a big difference between Cognex Stock performing well and Cognex 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 Cognex'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
TTMI	2.85	0.53	0.20	0.52	2.46	(3.26)	7.30	(4.97)	14.15
SANM	2.77	0.55	0.17	1.19	2.62	(3.43)	7.21	(3.96)	32.99
LFUS	1.44	(0.20)	(0.07)	(0.01)	1.85	(1.44)	2.72	(3.24)	8.96
ESE	1.23	0.08	0.03	0.24	1.39	(1.27)	2.62	(2.43)	5.92
NOVT	2.56	(0.42)	0.00	(0.01)	0.00	0.00	6.39	(4.81)	27.31
BMI	1.30	(0.14)	0.00	(0.02)	0.00	0.00	2.96	(2.23)	9.52
OLED	1.93	(0.13)	0.00	0.45	0.00	0.00	3.44	(4.26)	13.35
VNT	1.25	(0.27)	0.00	(0.08)	0.00	0.00	2.69	(2.21)	15.06
WAY	1.52	(0.03)	(0.02)	0.09	2.34	(1.38)	2.99	(3.26)	16.09
DSGX	1.32	(0.41)	0.00	(0.22)	0.00	0.00	2.34	(2.61)	13.83

Cognex Corporate Management

Jrg Kchen	Senior Products	Profile
Mike Bowdoin	Vice Operations	Profile
Mark Fennell	Chief Secretary	Profile
Didier Lacroix	Senior Marketing	Profile

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