Fabrinet Correlations

FN Stock

USD 308.36 10.91 3.67%

The current 90-days correlation between Fabrinet and Plexus Corp is 0.43 (i.e., Very weak 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

Very weak diversification

The correlation between Fabrinet and DJI is 0.57 (i.e., Very weak 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

0.92	LPL	LG Display Earnings Call This Week	Pair Corr
0.92	VSH	Vishay Intertechnology	Pair Corr
0.7	GILT	Gilat Satellite Networks	Pair Corr
0.91	LASR	nLIGHT Inc	Pair Corr
0.96	LITE	Lumentum Holdings	Pair Corr
0.61	NTGR	NETGEAR	Pair Corr
0.71	RGTIW	Rigetti Computing Trending	Pair Corr
0.71	QBTS	D Wave Quantum Upward Rally	Pair Corr
0.92	QUBT	Quantum Computing Aggressive Push	Pair Corr
0.95	RDWR	Radware	Pair Corr
0.71	RGTI	Rigetti Computing Trending	Pair Corr
0.94	AAOI	Applied Opt	Pair Corr
0.86	ADTN	ADTRAN Inc	Pair Corr
0.93	AVNW	Aviat Networks	Pair Corr
0.72	CIEN	Ciena Corp	Pair Corr
0.79	CRNT	Ceragon Networks	Pair Corr
0.95	CSCO	Cisco Systems	Pair Corr
0.94	MU	Micron Technology	Pair Corr
0.84	MX	MagnaChip Semiconductor	Pair Corr
0.95	ON	ON Semiconductor	Pair Corr
0.88	VRRM	Verra Mobility Corp	Pair Corr
0.81	ENLV	Enlivex Therapeutics	Pair Corr
0.66	ENTG	Entegris	Pair Corr
0.92	ADI	Analog Devices	Pair Corr
0.98	AMD	Advanced Micro Devices Aggressive Push	Pair Corr
0.95	ARM	Arm Holdings plc	Pair Corr
0.88	FRGE	Forge Global Holdings	Pair Corr
0.81	GFS	Globalfoundries	Pair Corr

Moving against Fabrinet Stock

0.83	IMTE	Integrated Media Tec	Pair Corr
0.62	QMCO	Quantum	Pair Corr
0.71	FRGT	Freight Technologies Buyout Trend	Pair Corr

Related Correlations Analysis

	PLXS	JBL	ROG	APH	SANM	BHE	MEI	OSIS	CLS	FLEX
PLXS		0.87	0.87	0.91	0.84	0.82	0.79	0.7	0.9	0.92	PLXS
JBL	0.87		0.75	0.92	0.97	0.82	0.78	0.49	0.98	0.97	JBL
ROG	0.87	0.75		0.88	0.7	0.58	0.84	0.89	0.77	0.84	ROG
APH	0.91	0.92	0.88		0.89	0.73	0.82	0.7	0.94	0.97	APH
SANM	0.84	0.97	0.7	0.89		0.85	0.69	0.43	0.97	0.96	SANM
BHE	0.82	0.82	0.58	0.73	0.85		0.67	0.34	0.84	0.8	BHE
MEI	0.79	0.78	0.84	0.82	0.69	0.67		0.72	0.78	0.79	MEI
OSIS	0.7	0.49	0.89	0.7	0.43	0.34	0.72		0.52	0.61	OSIS
CLS	0.9	0.98	0.77	0.94	0.97	0.84	0.78	0.52		0.98	CLS
FLEX	0.92	0.97	0.84	0.97	0.96	0.8	0.79	0.61	0.98		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	1.09	0.10	0.07	0.26	0.93	(1.28)	2.47	(1.71)	6.55
JBL	1.31	0.82	0.57	(2.28)	0.00	(1.66)	3.95	(1.38)	10.46
ROG	1.73	0.09	0.05	0.22	2.15	(1.73)	3.83	(3.06)	13.93
APH	1.10	0.68	0.55	11.64	0.00	(1.41)	3.39	(1.38)	10.44
SANM	1.39	0.53	0.24	(3.41)	1.29	(1.72)	2.86	(2.30)	8.16
BHE	1.43	0.05	0.02	0.19	2.97	(1.54)	3.22	(1.98)	18.09
MEI	2.59	0.36	0.04	(30.22)	5.06	(2.59)	5.59	(3.57)	33.90
OSIS	1.55	0.05	0.02	0.19	2.24	(1.48)	3.22	(3.17)	17.06
CLS	2.28	0.98	0.44	1.11	1.66	(2.99)	5.50	(3.40)	14.13
FLEX	1.50	0.91	0.58	(3.13)	0.34	(1.93)	4.64	(1.55)	9.10

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