Syntec Optics Correlations

OPTX Stock

0.87 0.01 1.16%

The current 90-days correlation between Syntec Optics Holdings and Deswell Industries is -0.1 (i.e., Good diversification). The correlation of Syntec Optics 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.

Syntec Optics Correlation With Market

Weak diversification

The correlation between Syntec Optics Holdings and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Syntec Optics Holdings and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Syntec Optics Holdings. 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.

Moving together with Syntec Stock

0.61

VRME

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Pair Corr

Moving against Syntec Stock

0.61	KVHI	KVH Industries	Pair Corr
0.45	KULR	KULR Technology Group	Pair Corr
0.4	KODK	Eastman Kodak Trending	Pair Corr
0.35	IONQ	IONQ Inc	Pair Corr
0.6	OSIS	OSI Systems	Pair Corr
0.49	QBTS	D Wave Quantum Tech Boost	Pair Corr
0.43	SSYS	Stratasys	Pair Corr
0.43	CLIR	ClearSign Combustion	Pair Corr
0.42	PDYN	Palladyne AI Corp Symbol Change	Pair Corr
0.38	RDCM	Radcom	Pair Corr

Related Correlations Analysis

	DSWL	VICR	ELTK	FLEX	APH	BHE	CLS	CTS	LGL	MEI
DSWL		0.54	0.09	0.66	0.59	0.53	0.59	0.4	0.13	0.01	DSWL
VICR	0.54		0.36	0.94	0.92	0.92	0.95	0.92	0.1	-0.3	VICR
ELTK	0.09	0.36		0.32	0.34	0.35	0.42	0.42	0.13	-0.23	ELTK
FLEX	0.66	0.94	0.32		0.93	0.92	0.95	0.89	0.1	-0.16	FLEX
APH	0.59	0.92	0.34	0.93		0.9	0.93	0.88	0.01	-0.24	APH
BHE	0.53	0.92	0.35	0.92	0.9		0.89	0.95	0.07	-0.08	BHE
CLS	0.59	0.95	0.42	0.95	0.93	0.89		0.89	0.13	-0.39	CLS
CTS	0.4	0.92	0.42	0.89	0.88	0.95	0.89		0.04	-0.2	CTS
LGL	0.13	0.1	0.13	0.1	0.01	0.07	0.13	0.04		-0.13	LGL
MEI	0.01	-0.3	-0.23	-0.16	-0.24	-0.08	-0.39	-0.2	-0.13		MEI
	DSWL	VICR	ELTK	FLEX	APH	BHE	CLS	CTS	LGL	MEI

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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

CLS	+ 0.95	VICR
CLS	+ 0.95	FLEX
CTS	+ 0.95	BHE
FLEX	+ 0.94	VICR
APH	+ 0.93	FLEX
CLS	+ 0.93	APH

High negative correlations

MEI	- 0.39	CLS
MEI	- 0.3	VICR
MEI	- 0.24	APH
MEI	- 0.23	ELTK
MEI	- 0.2	CTS
MEI	- 0.16	FLEX

Risk-Adjusted Indicators

There is a big difference between Syntec Stock performing well and Syntec Optics 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 Syntec Optics' 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
DSWL	1.48	0.14	0.01	(10.34)	1.85	(1.72)	3.48	(3.79)	12.33
VICR	2.54	0.32	0.15	0.27	2.40	(2.97)	8.87	(4.27)	21.20
ELTK	1.32	0.09	(0.03)	(0.12)	2.16	(1.27)	2.26	(2.63)	9.67
FLEX	1.84	0.08	0.09	0.15	1.79	(2.33)	5.67	(2.91)	10.39
APH	1.32	(0.02)	0.02	0.10	1.95	(1.40)	2.78	(2.49)	9.18
BHE	1.62	(0.05)	0.05	0.09	1.79	(1.83)	3.16	(3.84)	13.28
CLS	2.57	0.62	0.20	0.47	2.83	(2.81)	5.42	(4.05)	22.21
CTS	1.55	(0.08)	0.03	0.08	1.68	(1.73)	2.78	(2.79)	15.09
LGL	2.41	0.12	(0.01)	(0.42)	2.91	(2.95)	5.41	(4.17)	20.78
MEI	2.67	(0.21)	0.02	0.05	3.24	(2.93)	7.64	(5.30)	18.54

Syntec Optics Corporate Management

Dean Rudy	Chief Officer	Profile
Marc Hurlbut	Controller Secretary	Profile
Richard Arndt	Vice Technology	Profile
Bonnie Schuknecht	Vice Resources	Profile

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