Fabrinet Correlations

FN Stock

USD 243.02 23.85 8.94%

The current 90-days correlation between Fabrinet and Plexus Corp is 0.33 (i.e., 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 0.55 (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.

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

0.64	VIAV	Viavi Solutions	Pair Corr
0.74	EXTR	Extreme Networks	Pair Corr
0.74	FLEX	Flex	Pair Corr
0.82	APH	Amphenol Earnings Call This Week	Pair Corr
0.63	BDC	Belden Inc	Pair Corr
0.73	CLS	Celestica Earnings Call This Week	Pair Corr
0.65	HPE	Hewlett Packard Ente Fiscal Year End 26th of November 2024	Pair Corr
0.66	HPQ	HP Inc Fiscal Year End 19th of November 2024	Pair Corr
0.68	PAR	PAR Technology	Pair Corr
0.69	STX	Seagate Technology PLC Earnings Call This Week	Pair Corr

Moving against Fabrinet Stock

0.51	VSAT	ViaSat Inc	Pair Corr
0.44	INVZW	Innoviz Technologies	Pair Corr
0.36	LINK	Interlink Electronics	Pair Corr

Related Correlations Analysis

	PLXS	JBL	ROG	APH	SANM	BHE	MEI	OSIS	CLS	FLEX
PLXS		0.86	-0.22	0.48	-0.09	0.81	0.04	0.58	0.47	0.91	PLXS
JBL	0.86		0.07	0.51	0.04	0.76	0.33	0.62	0.73	0.87	JBL
ROG	-0.22	0.07		0.05	0.8	0.06	0.9	0.41	0.26	-0.11	ROG
APH	0.48	0.51	0.05		0.31	0.57	0.15	0.66	0.66	0.64	APH
SANM	-0.09	0.04	0.8	0.31		0.26	0.71	0.47	0.3	0.07	SANM
BHE	0.81	0.76	0.06	0.57	0.26		0.3	0.59	0.53	0.79	BHE
MEI	0.04	0.33	0.9	0.15	0.71	0.3		0.47	0.37	0.09	MEI
OSIS	0.58	0.62	0.41	0.66	0.47	0.59	0.47		0.58	0.66	OSIS
CLS	0.47	0.73	0.26	0.66	0.3	0.53	0.37	0.58		0.68	CLS
FLEX	0.91	0.87	-0.11	0.64	0.07	0.79	0.09	0.66	0.68		FLEX
	PLXS	JBL	ROG	APH	SANM	BHE	MEI	OSIS	CLS	FLEX

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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

FLEX	+ 0.91	PLXS
MEI	+ 0.9	ROG
FLEX	+ 0.87	JBL
JBL	+ 0.86	PLXS
BHE	+ 0.81	PLXS
SANM	+ 0.8	ROG

High negative correlations

ROG	- 0.22	PLXS
FLEX	- 0.11	ROG
SANM	- 0.09	PLXS

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	1.45	0.13	0.09	0.16	1.71	(1.52)	3.18	(2.84)	17.05
JBL	1.55	0.04	0.05	0.11	2.08	(1.71)	3.03	(3.25)	15.06
ROG	1.55	(0.45)	0.00	(0.17)	0.00	0.00	3.27	(3.60)	8.12
APH	1.53	(0.12)	(0.01)	0.03	2.55	(1.39)	3.14	(3.32)	12.10
SANM	1.60	(0.22)	0.00	(0.05)	0.00	0.00	3.13	(3.48)	13.72
BHE	2.02	(0.04)	0.02	0.07	2.43	(2.38)	3.43	(4.06)	26.44
MEI	2.59	(0.51)	0.00	(0.09)	0.00	0.00	5.45	(5.78)	15.20
OSIS	1.36	(0.13)	0.00	(0.01)	0.00	0.00	2.43	(2.91)	12.11
CLS	2.69	(0.13)	0.00	0.04	4.24	(2.38)	5.42	(7.76)	17.89
FLEX	1.91	0.13	0.08	0.16	2.21	(2.27)	4.34	(4.44)	13.65

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