MKS Instruments Correlations

MKSI Stock

USD 136.52 1.23 0.89%

The current 90-days correlation between MKS Instruments and Sanmina is 0.29 (i.e., Modest diversification). The correlation of MKS Instruments 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.

MKS Instruments Correlation With Market

Very weak diversification

The correlation between MKS Instruments and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MKS Instruments and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with MKS Stock

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

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

Moving together with MKS Stock

0.92	VECO	Veeco Instruments	Pair Corr
0.93	INTC	Intel	Pair Corr
0.88	ASYS	Amtech Systems	Pair Corr
0.71	CUB	Lionheart Holdings	Pair Corr
0.81	CPA	Copa Holdings SA	Pair Corr
0.91	CVI	CVR Energy	Pair Corr
0.68	CHNXF	ChitogenX	Pair Corr
0.62	36966TGR7	GENERAL ELEC CAP	Pair Corr
0.91	QVCGA	QVC Group Symbol Change	Pair Corr
0.86	AA	Alcoa Corp Earnings Call This Week	Pair Corr
0.77	AXP	American Express	Pair Corr
0.8	JNJ	Johnson Johnson	Pair Corr
0.75	BAC	Bank of America	Pair Corr
0.76	DD	Dupont De Nemours	Pair Corr
0.78	JPM	JPMorgan Chase	Pair Corr
0.64	XOM	Exxon Mobil Corp	Pair Corr
0.62	TRV	The Travelers Companies	Pair Corr

Moving against MKS Stock

0.86	CBRL	Cracker Barrel Old	Pair Corr
0.73	BA	Boeing	Pair Corr
0.47	PG	Procter Gamble Earnings Call This Week	Pair Corr
0.4	T	ATT Inc Earnings Call This Week	Pair Corr
0.37	VZ	Verizon Communications	Pair Corr

Related Correlations Analysis

	SANM	CGNX	NVMI	IDCC	DOX	PCTY	TSEM	PEGA	GTM	LFUS
SANM		0.7	0.47	0.66	-0.54	-0.67	0.57	-0.02	-0.2	0.68	SANM
CGNX	0.7		0.45	0.81	-0.66	-0.71	0.73	0.1	0.09	0.87	CGNX
NVMI	0.47	0.45		0.83	-0.7	-0.84	0.8	0.37	0.27	0.37	NVMI
IDCC	0.66	0.81	0.83		-0.85	-0.93	0.92	0.33	0.22	0.71	IDCC
DOX	-0.54	-0.66	-0.7	-0.85		0.79	-0.82	-0.45	-0.21	-0.57	DOX
PCTY	-0.67	-0.71	-0.84	-0.93	0.79		-0.88	-0.11	0.0	-0.56	PCTY
TSEM	0.57	0.73	0.8	0.92	-0.82	-0.88		0.32	0.27	0.64	TSEM
PEGA	-0.02	0.1	0.37	0.33	-0.45	-0.11	0.32		0.72	0.2	PEGA
GTM	-0.2	0.09	0.27	0.22	-0.21	0.0	0.27	0.72		0.2	GTM
LFUS	0.68	0.87	0.37	0.71	-0.57	-0.56	0.64	0.2	0.2		LFUS
	SANM	CGNX	NVMI	IDCC	DOX	PCTY	TSEM	PEGA	GTM	LFUS

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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

TSEM	+ 0.92	IDCC
LFUS	+ 0.87	CGNX
IDCC	+ 0.83	NVMI
IDCC	+ 0.81	CGNX
TSEM	+ 0.8	NVMI
PCTY	+ 0.79	DOX

High negative correlations

PCTY	- 0.93	IDCC
TSEM	- 0.88	PCTY
DOX	- 0.85	IDCC
PCTY	- 0.84	NVMI
TSEM	- 0.82	DOX
PCTY	- 0.71	CGNX

Risk-Adjusted Indicators

There is a big difference between MKS Stock performing well and MKS Instruments 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 MKS Instruments' 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
SANM	2.78	0.37	0.12	0.42	2.76	(3.26)	5.16	(4.38)	33.06
CGNX	1.86	0.43	0.19	0.28	2.20	(2.34)	4.73	(1.96)	33.20
NVMI	2.35	0.23	0.07	0.19	3.44	(2.31)	4.86	(5.47)	14.75
IDCC	1.84	0.66	0.41	0.45	1.19	(2.43)	5.31	(2.42)	15.54
DOX	0.96	(0.15)	0.00	(0.12)	0.00	0.00	1.92	(2.17)	8.40
PCTY	1.20	(0.39)	0.00	(0.32)	0.00	0.00	2.33	(2.67)	7.48
TSEM	2.27	0.57	0.30	0.37	1.69	(2.88)	4.99	(3.26)	18.61
PEGA	1.81	(0.01)	0.02	0.05	2.19	(1.97)	3.54	(3.61)	20.65
GTM	2.40	(0.13)	0.00	(0.01)	0.00	0.00	5.08	(5.72)	14.09
LFUS	1.39	0.14	0.11	0.15	1.24	(1.70)	3.20	(2.31)	13.13

MKS Instruments Corporate Management

John Williams	EVP Division	Profile
Jim Kafka	Chief Lasers	Profile
Jennifer Reilly	VP Officer	Profile
Aaron Radomski	Chief Solutions	Profile
David Henry	Executive Marketing	Profile
Madhuri Andrews	Executive Officer	Profile
Henry Chang	Senior Asia	Profile

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