Fabrinet Correlations

FN Stock

USD 265.57 6.78 2.62%

The current 90-days correlation between Fabrinet and Plexus Corp is 0.78 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Fabrinet moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Fabrinet moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Fabrinet Correlation With Market

Poor diversification

The correlation between Fabrinet and DJI is 0.74 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fabrinet and DJI in the same portfolio, assuming nothing else is changed.

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

To learn how to invest in Fabrinet Stock, please use our How to Invest in Fabrinet guide.

Moving together with Fabrinet Stock

0.87	KE	Kimball Electronics	Pair Corr
0.88	KN	Knowles Cor	Pair Corr
0.76	UI	Ubiquiti Networks	Pair Corr
0.72	VRME	VerifyMe	Pair Corr
0.65	VSAT	ViaSat Inc Tech Boost	Pair Corr
0.72	ELTK	Eltek	Pair Corr
0.68	ERIC	Telefonaktiebolaget	Pair Corr
0.75	EVLV	Evolv Technologies	Pair Corr
0.93	EXTR	Extreme Networks	Pair Corr
0.68	FEIM	Frequency Electronics Tech Boost	Pair Corr
0.9	FFIV	F5 Networks	Pair Corr
0.93	FLEX	Flex	Pair Corr
0.84	APH	Amphenol	Pair Corr
0.86	BDC	Belden Inc	Pair Corr
0.77	CDW	CDW Corp	Pair Corr
0.93	CLS	Celestica	Pair Corr
0.72	CTS	CTS Corporation	Pair Corr
0.94	GLW	Corning Incorporated	Pair Corr
0.88	HPE	Hewlett Packard Ente	Pair Corr
0.78	IDN	Intellicheck Mobilisa	Pair Corr
0.92	JBL	Jabil Circuit Tech Boost	Pair Corr
0.85	LPL	LG Display	Pair Corr
0.92	MEI	Methode Electronics	Pair Corr
0.74	MOB	Mobilicom Limited	Pair Corr
0.62	NOK	Nokia Corp ADR	Pair Corr

Moving against Fabrinet Stock

0.31	VIAV	Viavi Solutions	Pair Corr
0.56	FKWL	Franklin Wireless Corp	Pair Corr
0.37	UKOMW	Ucommune International	Pair Corr

Related Correlations Analysis

	PLXS	JBL	ROG	APH	SANM	BHE	MEI	OSIS	CLS	FLEX
PLXS		0.8	0.61	0.66	0.86	0.61	0.79	0.79	0.81	0.87	PLXS
JBL	0.8		0.44	0.84	0.96	0.26	0.96	0.88	0.97	0.97	JBL
ROG	0.61	0.44		0.52	0.44	0.64	0.56	0.43	0.49	0.57	ROG
APH	0.66	0.84	0.52		0.83	0.25	0.84	0.81	0.86	0.87	APH
SANM	0.86	0.96	0.44	0.83		0.36	0.93	0.87	0.95	0.96	SANM
BHE	0.61	0.26	0.64	0.25	0.36		0.33	0.13	0.32	0.34	BHE
MEI	0.79	0.96	0.56	0.84	0.93	0.33		0.85	0.96	0.95	MEI
OSIS	0.79	0.88	0.43	0.81	0.87	0.13	0.85		0.87	0.92	OSIS
CLS	0.81	0.97	0.49	0.86	0.95	0.32	0.96	0.87		0.97	CLS
FLEX	0.87	0.97	0.57	0.87	0.96	0.34	0.95	0.92	0.97		FLEX
	PLXS	JBL	ROG	APH	SANM	BHE	MEI	OSIS	CLS	FLEX

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Risk-Adjusted Indicators

There is a big difference between Fabrinet Stock performing well and Fabrinet 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 Fabrinet'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	1.53	0.07	0.03	0.07	2.28	(1.68)	2.95	(2.69)	16.40
JBL	2.01	0.61	0.21	0.42	2.23	(2.17)	5.04	(3.88)	18.07
ROG	2.26	(0.19)	0.00	(0.14)	0.00	0.00	3.94	(4.57)	17.40
APH	1.69	0.57	0.22	(10.77)	1.80	(1.90)	4.42	(2.75)	13.26
SANM	1.87	0.26	0.10	0.24	2.37	(2.20)	3.88	(2.81)	14.36
BHE	1.93	(0.08)	0.00	(0.05)	0.00	0.00	3.50	(3.34)	25.53
MEI	2.64	0.56	0.19	0.41	2.52	(3.16)	6.58	(3.79)	17.19
OSIS	1.99	0.23	0.08	0.21	2.58	(1.93)	4.92	(3.52)	14.87
CLS	3.40	0.67	0.15	0.37	4.23	(3.80)	6.55	(4.70)	25.99
FLEX	2.25	0.44	0.12	0.26	3.42	(2.39)	5.21	(3.89)	20.44

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