LightPath Technologies Correlations

LPTH Stock

USD 3.17 0.15 4.52%

The current 90-days correlation between LightPath Technologies and Methode Electronics is 0.07 (i.e., Significant diversification). The correlation of LightPath Technologies 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.

LightPath Technologies Correlation With Market

Significant diversification

The correlation between LightPath Technologies and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding LightPath Technologies and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with LightPath Stock

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

For more detail on how to invest in LightPath Stock please use our How to Invest in LightPath Technologies guide.

Moving together with LightPath Stock

0.89	LPL	LG Display Earnings Call Tomorrow	Pair Corr
0.87	VSH	Vishay Intertechnology	Pair Corr
0.9	LASR	nLIGHT Inc	Pair Corr
0.92	LITE	Lumentum Holdings Tech Boost	Pair Corr
0.7	RGTIW	Rigetti Computing Trending	Pair Corr
0.74	QBTS	D Wave Quantum Aggressive Push	Pair Corr
0.85	QUBT	Quantum Computing	Pair Corr
0.82	RDWR	Radware Earnings Call This Week	Pair Corr
0.7	RGTI	Rigetti Computing Downward Rally	Pair Corr
0.82	AAOI	Applied Opt	Pair Corr
0.76	ADTN	ADTRAN Inc	Pair Corr
0.89	AVNW	Aviat Networks	Pair Corr
0.69	CIEN	Ciena Corp	Pair Corr
0.64	CRNT	Ceragon Networks	Pair Corr
0.88	CSCO	Cisco Systems	Pair Corr
0.88	MU	Micron Technology	Pair Corr
0.77	MX	MagnaChip Semiconductor Tech Boost	Pair Corr
0.92	ON	ON Semiconductor Earnings Call This Week	Pair Corr
0.81	VRRM	Verra Mobility Corp	Pair Corr
0.66	ENLV	Enlivex Therapeutics	Pair Corr
0.87	ADI	Analog Devices	Pair Corr
0.92	AMD	Advanced Micro Devices Aggressive Push	Pair Corr
0.87	ARM	Arm Holdings plc Tech Boost	Pair Corr
0.81	FRGE	Forge Global Holdings	Pair Corr
0.76	GFS	Globalfoundries	Pair Corr

Moving against LightPath Stock

0.55	QMCO	Quantum	Pair Corr
0.54	IMTE	Integrated Media Tec Tech Boost	Pair Corr
0.67	FRGT	Freight Technologies	Pair Corr

Related Correlations Analysis

	MEI	OSIS	PLXS	AMOT	CTS	BHE	LYTS	BELFB	RELL	BELFA
MEI		0.71	0.72	0.0	0.81	0.55	0.46	0.57	0.64	0.55	MEI
OSIS	0.71		0.62	0.0	0.73	0.27	0.34	0.33	0.59	0.28	OSIS
PLXS	0.72	0.62		0.0	0.91	0.82	0.77	0.8	0.93	0.76	PLXS
AMOT	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	AMOT
CTS	0.81	0.73	0.91	0.0		0.74	0.62	0.67	0.86	0.64	CTS
BHE	0.55	0.27	0.82	0.0	0.74		0.75	0.85	0.8	0.85	BHE
LYTS	0.46	0.34	0.77	0.0	0.62	0.75		0.88	0.81	0.85	LYTS
BELFB	0.57	0.33	0.8	0.0	0.67	0.85	0.88		0.84	0.99	BELFB
RELL	0.64	0.59	0.93	0.0	0.86	0.8	0.81	0.84		0.81	RELL
BELFA	0.55	0.28	0.76	0.0	0.64	0.85	0.85	0.99	0.81		BELFA
	MEI	OSIS	PLXS	AMOT	CTS	BHE	LYTS	BELFB	RELL	BELFA

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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

BELFA	+ 0.99	BELFB
RELL	+ 0.93	PLXS
CTS	+ 0.91	PLXS
BELFB	+ 0.88	LYTS
RELL	+ 0.86	CTS
BELFB	+ 0.85	BHE

High negative correlations

BELFA	- 0.0	AMOT
RELL	- 0.0	AMOT
BELFB	- 0.0	AMOT
LYTS	- 0.0	AMOT
BHE	- 0.0	AMOT
CTS	- 0.0	AMOT

Risk-Adjusted Indicators

There is a big difference between LightPath Stock performing well and LightPath Technologies 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 LightPath Technologies' 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
MEI	2.65	0.19	0.04	0.26	5.15	(2.57)	5.54	(3.61)	33.98
OSIS	1.57	0.05	0.02	0.18	2.29	(1.52)	3.22	(3.17)	17.06
PLXS	1.10	0.03	0.02	0.17	1.09	(1.26)	2.47	(2.10)	7.11
AMOT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CTS	1.52	(0.04)	0.00	0.11	1.57	(1.82)	3.09	(2.78)	9.74
BHE	1.45	0.03	0.02	0.17	2.94	(1.57)	3.22	(1.98)	18.09
LYTS	1.39	0.16	0.00	(0.74)	2.01	(1.39)	3.27	(2.81)	8.66
BELFB	1.85	0.48	0.23	0.57	1.69	(2.12)	4.04	(3.30)	10.99
RELL	1.88	0.11	0.07	0.21	2.02	(2.07)	3.89	(3.43)	10.26
BELFA	2.16	0.35	0.17	0.37	1.92	(2.42)	4.98	(3.59)	13.68

LightPath Technologies Corporate Executives

Elected by the shareholders, the LightPath Technologies' board of directors comprises two types of representatives: LightPath Technologies inside directors who are chosen from within the company, and outside directors, selected externally and held independent of LightPath. The board's role is to monitor LightPath Technologies' management team and ensure that shareholders' interests are well served. LightPath Technologies' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, LightPath Technologies' outside directors are responsible for providing unbiased perspectives on the board's policies.

Albert Miranda

Secretary CFO

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