Credo Technology Correlations

CRDO Stock

USD 98.52 1.23 1.26%

The current 90-days correlation between Credo Technology and Impinj Inc is 0.65 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Credo Technology moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Credo Technology Group moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Credo Technology Correlation With Market

Poor diversification

The correlation between Credo Technology Group and DJI is 0.7 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Credo Technology Group and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Credo Stock

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

Moving together with Credo Stock

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0.97	NVDA	NVIDIA Aggressive Push	Pair Corr
0.92	NVMI	Nova	Pair Corr
0.84	OLED	Universal Display	Pair Corr
0.91	QRVO	Qorvo Inc	Pair Corr
0.79	AMBA	Ambarella	Pair Corr
0.96	AVGO	Broadcom	Pair Corr
0.89	TSEM	Tower Semiconductor	Pair Corr
0.92	CAMT	Camtek	Pair Corr
0.92	VRRM	Verra Mobility Corp	Pair Corr
0.75	ENLV	Enlivex Therapeutics	Pair Corr
0.88	FRGE	Forge Global Holdings	Pair Corr
0.97	IBM	International Business	Pair Corr
0.93	LPL	LG Display	Pair Corr
0.62	GILT	Gilat Satellite Networks	Pair Corr
0.82	ITRN	Ituran Location	Pair Corr
0.97	LITE	Lumentum Holdings	Pair Corr
0.85	MITK	Mitek Systems	Pair Corr
0.94	MSFT	Microsoft	Pair Corr
0.67	AVPTW	AvePoint	Pair Corr
0.67	NTGR	NETGEAR	Pair Corr
0.73	RGTIW	Rigetti Computing	Pair Corr
0.79	QBTS	D Wave Quantum	Pair Corr
0.94	QUBT	Quantum Computing	Pair Corr
0.94	RDWR	Radware	Pair Corr
0.73	RGTI	Rigetti Computing	Pair Corr
0.93	AAOI	Applied Opt	Pair Corr

Moving against Credo Stock

0.63	ARQQW	Arqit Quantum Warrants	Pair Corr
0.48	MAPSW	WM Technology	Pair Corr
0.57	QMCO	Quantum	Pair Corr
0.34	07274NBG7	BAYNGR 5 15	Pair Corr

Related Correlations Analysis

	PI	LITE	HPE	CIEN	MINM	PRVA	ALGM	ALHC	ARHS
PI		0.82	0.81	0.94	0.72	-0.09	0.69	-0.86	0.78	PI
LITE	0.82		0.9	0.81	0.83	-0.46	0.95	-0.91	0.85	LITE
HPE	0.81	0.9		0.79	0.72	-0.4	0.87	-0.88	0.88	HPE
CIEN	0.94	0.81	0.79		0.67	-0.09	0.67	-0.86	0.73	CIEN
MINM	0.72	0.83	0.72	0.67		-0.44	0.8	-0.72	0.74	MINM
PRVA	-0.09	-0.46	-0.4	-0.09	-0.44		-0.51	0.4	-0.42	PRVA
ALGM	0.69	0.95	0.87	0.67	0.8	-0.51		-0.81	0.86	ALGM
ALHC	-0.86	-0.91	-0.88	-0.86	-0.72	0.4	-0.81		-0.78	ALHC
ARHS	0.78	0.85	0.88	0.73	0.74	-0.42	0.86	-0.78		ARHS
	PI	LITE	HPE	CIEN	MINM	PRVA	ALGM	ALHC	ARHS

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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

ALGM	+ 0.95	LITE
CIEN	+ 0.94	PI
HPE	+ 0.9	LITE
ARHS	+ 0.88	HPE
ALGM	+ 0.87	HPE
ARHS	+ 0.86	ALGM

High negative correlations

ALHC	- 0.91	LITE
ALHC	- 0.88	HPE
ALHC	- 0.86	CIEN
ALHC	- 0.86	PI
ALHC	- 0.81	ALGM
ARHS	- 0.78	ALHC

Risk-Adjusted Indicators

There is a big difference between Credo Stock performing well and Credo Technology 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 Credo Technology'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
PI	3.14	0.26	0.16	0.33	3.38	(3.58)	8.82	(4.18)	38.16
LITE	2.55	0.47	0.25	0.47	2.14	(3.06)	6.53	(4.15)	28.50
HPE	1.98	0.33	0.23	0.44	1.50	(2.31)	5.08	(2.67)	21.07
CIEN	1.95	0.18	0.10	0.34	2.56	(2.20)	5.19	(2.66)	27.65
MINM	10.11	4.10	0.45	(3.22)	5.60	(16.71)	22.85	(13.11)	164.04
PRVA	1.52	(0.25)	0.00	(0.08)	0.00	0.00	2.64	(2.99)	10.94
ALGM	3.22	0.32	0.18	0.36	3.42	(3.76)	8.87	(6.07)	32.39
ALHC	2.36	(0.39)	0.00	12.24	0.00	0.00	5.91	(5.48)	14.08
ARHS	2.56	(0.11)	0.02	0.17	2.90	(2.71)	6.46	(5.28)	19.42

Credo Technology Corporate Management

Chi Cheng	CTO Cofounder	Profile
Daniel ONeil	Vice Relations	Profile
Adam ThorngateGottlund	General Secretary	Profile
Daniel Fleming	Chief Officer	Profile
Scott Feller	Vice Marketing	Profile
James Laufman	Chief Secretary	Profile
Jim Laufman	Chief Secretary	Profile

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