InTest Correlations

INTT Stock

USD 7.72 0.63 7.54%

The current 90-days correlation between inTest and MagnaChip Semiconductor is 0.34 (i.e., Weak diversification). The correlation of InTest 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.

InTest Correlation With Market

Average diversification

The correlation between inTest and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding inTest and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with InTest Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in inTest. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

For more information on how to buy InTest Stock please use our How to Invest in InTest guide.

Moving together with InTest Stock

0.64	DQ	Daqo New Energy	Pair Corr
0.87	MU	Micron Technology Aggressive Push	Pair Corr
0.63	PI	Impinj Inc	Pair Corr
0.73	605111	Wuxi Nce Power	Pair Corr
0.79	VECO	Veeco Instruments	Pair Corr
0.81	603061	JHT Design	Pair Corr
0.67	688515	Motorcomm Electronic	Pair Corr
0.81	688123	Giantec Semiconductor	Pair Corr
0.88	603986	GigaDevice SemiconductorBei	Pair Corr
0.7	ENTG	Entegris	Pair Corr
0.76	WOLF	Wolfspeed	Pair Corr
0.78	AIP	Arteris Tech Boost	Pair Corr
0.73	AMD	Advanced Micro Devices	Pair Corr
0.78	ARM	Arm Holdings plc	Pair Corr
0.77	ASX	ASE Industrial Holding Aggressive Push	Pair Corr
0.78	CAN	Canaan Inc	Pair Corr
0.83	FORM	FormFactor	Pair Corr
0.79	CVV	CVD Equipment Earnings Call This Week	Pair Corr

Moving against InTest Stock

0.74	4DS	4DS Memory	Pair Corr
0.7	300474	Changsha Jingjia Mic	Pair Corr
0.6	SPRQ	Sparq Systems	Pair Corr
0.57	002865	Hainan Drinda Automotive	Pair Corr
0.83	IQE	IQE PLC	Pair Corr
0.77	TXN	Texas Instruments	Pair Corr
0.77	VLN	Valens	Pair Corr
0.72	ICG	Intchains Group Earnings Call This Week	Pair Corr
0.65	WEBELSOLAR	Websol Energy System	Pair Corr

Related Correlations Analysis

	MX	QUIK	ASYS	MOBX	GCTS	RDZN	LHSW	PXLW	IDN	CSPI
MX		0.0	0.7	0.22	0.68	-0.3	-0.02	0.42	0.39	0.4	MX
QUIK	0.0		0.29	-0.75	0.28	0.82	-0.56	-0.26	-0.78	0.31	QUIK
ASYS	0.7	0.29		-0.08	0.8	-0.06	-0.27	0.48	0.1	0.24	ASYS
MOBX	0.22	-0.75	-0.08		-0.11	-0.62	0.39	0.39	0.64	-0.29	MOBX
GCTS	0.68	0.28	0.8	-0.11		-0.05	0.04	0.38	0.15	0.29	GCTS
RDZN	-0.3	0.82	-0.06	-0.62	-0.05		-0.52	-0.43	-0.83	0.2	RDZN
LHSW	-0.02	-0.56	-0.27	0.39	0.04	-0.52		0.24	0.56	-0.03	LHSW
PXLW	0.42	-0.26	0.48	0.39	0.38	-0.43	0.24		0.41	-0.28	PXLW
IDN	0.39	-0.78	0.1	0.64	0.15	-0.83	0.56	0.41		-0.05	IDN
CSPI	0.4	0.31	0.24	-0.29	0.29	0.2	-0.03	-0.28	-0.05		CSPI
	MX	QUIK	ASYS	MOBX	GCTS	RDZN	LHSW	PXLW	IDN	CSPI

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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

RDZN	+ 0.82	QUIK
GCTS	+ 0.8	ASYS
ASYS	+ 0.7	MX
GCTS	+ 0.68	MX
IDN	+ 0.64	MOBX
IDN	+ 0.56	LHSW

High negative correlations

IDN	- 0.83	RDZN
IDN	- 0.78	QUIK
MOBX	- 0.75	QUIK
RDZN	- 0.62	MOBX
LHSW	- 0.56	QUIK
LHSW	- 0.52	RDZN

Risk-Adjusted Indicators

There is a big difference between InTest Stock performing well and InTest 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 InTest'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
MX	2.10	(0.31)	0.00	(0.09)	0.00	0.00	3.68	(4.76)	20.24
QUIK	3.80	0.17	0.06	0.15	4.61	(3.88)	8.83	(7.07)	22.77
ASYS	4.95	0.61	0.16	0.27	4.43	(6.04)	13.62	(8.06)	35.04
MOBX	4.84	(0.20)	0.00	(0.27)	0.00	0.00	10.34	(9.09)	26.61
GCTS	3.40	0.02	0.01	0.10	3.73	(4.14)	7.52	(6.29)	20.49
RDZN	4.33	0.34	0.08	0.28	4.66	(5.42)	14.29	(7.96)	32.71
LHSW	3.96	(0.56)	0.00	(0.19)	0.00	0.00	8.18	(8.02)	29.70
PXLW	6.59	(0.53)	0.00	(0.02)	0.00	0.00	18.86	(11.08)	72.70
IDN	2.28	(0.44)	0.00	(0.16)	0.00	0.00	4.87	(4.78)	15.19
CSPI	2.91	(0.10)	0.02	0.05	3.29	(3.07)	7.14	(5.59)	13.91

InTest Corporate Management

Joe McManus	Division Test	Profile
Susan Dawson	Finance Manager	Profile
Duncan Gilmour	Treasurer CFO	Profile
Joseph McManus	Division Test	Profile
Meghan Moseley	Vice Resources	Profile

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