Celestica Correlations

CLS Stock

USD 160.12 2.77 1.70%

The current 90-days correlation between Celestica and Flex is 0.72 (i.e., Poor diversification). The correlation of Celestica 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.

Celestica Correlation With Market

Weak diversification

The correlation between Celestica and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Celestica and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Celestica Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Celestica. 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 information on how to buy Celestica Stock please use our How to Invest in Celestica guide.

Moving together with Celestica Stock

0.91	LPL	LG Display Earnings Call This Week	Pair Corr
0.94	VSH	Vishay Intertechnology	Pair Corr
0.67	GILT	Gilat Satellite Networks	Pair Corr
0.93	LASR	nLIGHT Inc	Pair Corr
0.97	LITE	Lumentum Holdings	Pair Corr
0.74	RGTIW	Rigetti Computing Trending	Pair Corr
0.77	QBTS	D Wave Quantum Aggressive Push	Pair Corr
0.94	QUBT	Quantum Computing Aggressive Push	Pair Corr
0.93	RDWR	Radware	Pair Corr
0.76	RGTI	Rigetti Computing Trending	Pair Corr
0.95	AAOI	Applied Opt	Pair Corr
0.87	ADTN	ADTRAN Inc	Pair Corr
0.94	AVNW	Aviat Networks	Pair Corr
0.72	CIEN	Ciena Corp	Pair Corr
0.77	CRNT	Ceragon Networks	Pair Corr
0.96	CSCO	Cisco Systems	Pair Corr
0.94	MU	Micron Technology	Pair Corr
0.87	MX	MagnaChip Semiconductor	Pair Corr
0.95	ON	ON Semiconductor	Pair Corr
0.9	VRRM	Verra Mobility Corp	Pair Corr
0.77	ENLV	Enlivex Therapeutics	Pair Corr
0.63	ENTG	Entegris	Pair Corr
0.93	ADI	Analog Devices	Pair Corr
0.97	AMD	Advanced Micro Devices Aggressive Push	Pair Corr
0.94	ARM	Arm Holdings plc	Pair Corr
0.86	FRGE	Forge Global Holdings	Pair Corr
0.83	GFS	Globalfoundries	Pair Corr

Moving against Celestica Stock

0.68	IMTE	Integrated Media Tec Tech Boost	Pair Corr
0.61	QMCO	Quantum	Pair Corr
0.75	FRGT	Freight Technologies	Pair Corr

Related Correlations Analysis

	PLXS	BHE	FLEX	JBL	SANM	MEI	OSIS	FN	BELFA	CTS
PLXS		0.82	0.92	0.87	0.86	0.75	0.66	0.86	0.75	0.93	PLXS
BHE	0.82		0.81	0.83	0.87	0.58	0.3	0.81	0.84	0.75	BHE
FLEX	0.92	0.81		0.98	0.96	0.69	0.56	0.97	0.88	0.81	FLEX
JBL	0.87	0.83	0.98		0.97	0.7	0.44	0.98	0.93	0.76	JBL
SANM	0.86	0.87	0.96	0.97		0.6	0.4	0.96	0.93	0.73	SANM
MEI	0.75	0.58	0.69	0.7	0.6		0.72	0.66	0.59	0.82	MEI
OSIS	0.66	0.3	0.56	0.44	0.4	0.72		0.45	0.3	0.74	OSIS
FN	0.86	0.81	0.97	0.98	0.96	0.66	0.45		0.91	0.74	FN
BELFA	0.75	0.84	0.88	0.93	0.93	0.59	0.3	0.91		0.66	BELFA
CTS	0.93	0.75	0.81	0.76	0.73	0.82	0.74	0.74	0.66		CTS
	PLXS	BHE	FLEX	JBL	SANM	MEI	OSIS	FN	BELFA	CTS

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Risk-Adjusted Indicators

There is a big difference between Celestica Stock performing well and Celestica 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 Celestica'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
PLXS	1.11	0.04	0.02	0.18	1.09	(1.27)	2.47	(2.10)	6.55
BHE	1.44	0.03	0.02	0.16	2.94	(1.55)	3.22	(1.98)	18.09
FLEX	1.49	0.70	0.58	0.78	0.38	(1.94)	4.64	(1.55)	9.10
JBL	1.31	0.67	0.58	0.82	0.00	(1.64)	3.95	(1.38)	10.46
SANM	1.42	0.31	0.19	0.44	1.41	(1.69)	2.86	(2.48)	8.16
MEI	2.63	0.16	0.04	0.23	5.16	(2.57)	5.59	(3.57)	33.90
OSIS	1.55	0.02	0.01	0.15	2.30	(1.47)	3.22	(3.17)	17.06
FN	2.02	0.56	0.27	0.48	1.88	(2.47)	5.54	(2.71)	13.79
BELFA	2.20	0.30	0.15	0.32	1.96	(2.46)	4.98	(3.59)	13.68
CTS	1.51	0.00	0.02	0.13	1.58	(1.78)	3.09	(2.78)	9.74

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