Advanced Energy Correlations

AEIS Stock

USD 104.27 1.12 1.06%

The current 90-days correlation between Advanced Energy Indu and Hayward Holdings is 0.75 (i.e., Poor diversification). The correlation of Advanced Energy 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.

Advanced Energy Correlation With Market

Poor diversification

The correlation between Advanced Energy Industries and NYA is 0.65 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Advanced Energy Industries and NYA in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Advanced Energy Industries. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Advanced Stock

0.65	PI	Impinj Inc	Pair Corr
0.89	VECO	Veeco Instruments	Pair Corr
0.66	JKS	JinkoSolar Holding	Pair Corr
0.9	TSM	Taiwan Semiconductor Aggressive Push	Pair Corr
0.61	MRVL	Marvell Technology Sell-off Trend	Pair Corr
0.76	NVDA	NVIDIA Sell-off Trend	Pair Corr
0.86	PDFS	PDF Solutions	Pair Corr
0.79	AVGO	Broadcom Earnings Call This Week	Pair Corr
0.69	SPWR	SunPower	Pair Corr
0.85	TYGO	Tigo Energy	Pair Corr
0.92	FN	Fabrinet Fiscal Year End 19th of August 2024	Pair Corr
0.83	KE	Kimball Electronics Fiscal Year End 21st of August 2024	Pair Corr
0.87	KN	Knowles Cor	Pair Corr
0.9	UI	Ubiquiti Networks Fiscal Year End 23rd of August 2024	Pair Corr
0.79	VERX	Vertex Earnings Call This Week	Pair Corr
0.62	DZSI	DZS Inc Tech Boost	Pair Corr

Moving against Advanced Stock

0.63	DM	Desktop Metal	Pair Corr
0.58	U	Unity Software	Pair Corr
0.54	QRVO	Qorvo Inc	Pair Corr
0.33	NVEC	NVE Corporation	Pair Corr
0.32	INTC	Intel Financial Report 25th of July 2024	Pair Corr
0.55	WALDW	Waldencast Acquisition	Pair Corr
0.51	WDAY	Workday	Pair Corr
0.32	GB	Global Blue Group	Pair Corr

Related Correlations Analysis

	HAYW	HOLI	ENS	ESP	HUBB	NVT	POWL
HAYW		0.13	0.09	0.35	0.65	0.37	0.16	HAYW
HOLI	0.13		-0.86	0.72	0.54	-0.72	-0.75	HOLI
ENS	0.09	-0.86		-0.62	-0.34	0.71	0.74	ENS
ESP	0.35	0.72	-0.62		0.37	-0.51	-0.37	ESP
HUBB	0.65	0.54	-0.34	0.37		0.09	-0.26	HUBB
NVT	0.37	-0.72	0.71	-0.51	0.09		0.61	NVT
POWL	0.16	-0.75	0.74	-0.37	-0.26	0.61		POWL
	HAYW	HOLI	ENS	ESP	HUBB	NVT	POWL

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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

POWL	+ 0.74	ENS
ESP	+ 0.72	HOLI
NVT	+ 0.71	ENS
HUBB	+ 0.65	HAYW
POWL	+ 0.61	NVT
HUBB	+ 0.54	HOLI

High negative correlations

ENS	- 0.86	HOLI
POWL	- 0.75	HOLI
NVT	- 0.72	HOLI
ESP	- 0.62	ENS
NVT	- 0.51	ESP
POWL	- 0.37	ESP

Risk-Adjusted Indicators

There is a big difference between Advanced Stock performing well and Advanced Energy 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 Advanced Energy'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
HAYW	1.38	(0.09)	0.00	(0.04)	0.00	0.00	2.72	(3.00)	8.20
HOLI	0.81	(0.23)	0.00	(0.41)	0.00	0.00	1.10	(2.33)	7.17
ENS	0.97	0.20	0.18	1.06	0.89	(1.12)	1.84	(1.87)	11.91
ESP	1.45	(0.25)	0.00	0.76	0.00	0.00	2.90	(4.11)	14.99
HUBB	1.31	(0.10)	0.00	(0.05)	0.00	0.00	2.51	(3.62)	11.51
NVT	1.49	0.16	0.08	0.12	1.75	(1.58)	3.41	(3.59)	9.95
POWL	3.39	0.07	0.02	0.07	3.94	(3.94)	6.60	(5.25)	31.56

Advanced Energy Corporate Management

John Donaghey	Executive Sales	Profile
YeukFai Mok	VP Relations	Profile
Kevin Fairbairn	Sr Devel	Profile
Bernard Colpitts	Senior Officer	Profile

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