Everspin Technologies Correlations
| MRAM Stock | USD 7.27 0.22 2.94% |
The correlation of Everspin 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Everspin Technologies moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Everspin Technologies moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Modest diversification
The correlation between Everspin Technologies and NYA is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Everspin Technologies and NYA in the same portfolio, assuming nothing else is changed.
Everspin |
The ability to find closely correlated positions to Everspin Technologies could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Everspin Technologies when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Everspin Technologies - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Everspin Technologies to buy it.
Moving together with Everspin Stock
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Moving against Everspin Stock
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Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Everspin Stock performing well and Everspin 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 Everspin 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| MTSI | 1.96 | 0.06 | 0.05 | 0.09 | 2.20 | 4.28 | 10.03 | |||
| POWI | 1.73 | (0.39) | 0.00 | (0.11) | 0.00 | 4.22 | 14.31 | |||
| DIOD | 1.70 | (0.16) | 0.00 | (0.02) | 0.00 | 4.19 | 9.51 | |||
| CEVA | 2.55 | (0.24) | 0.00 | (0.02) | 0.00 | 4.11 | 27.28 | |||
| SLAB | 2.25 | (0.13) | (0.02) | 0.01 | 2.42 | 4.62 | 18.54 | |||
| MXL | 2.61 | (0.09) | 0.00 | (0.01) | 0.00 | 4.85 | 15.20 | |||
| AMKR | 2.15 | (0.20) | 0.00 | (0.02) | 0.00 | 4.35 | 12.11 | |||
| WKEY | 4.05 | (0.35) | 0.00 | (0.11) | 0.00 | 11.76 | 29.04 | |||
| NA | 8.65 | (1.49) | 0.00 | (0.89) | 0.00 | 15.48 | 125.60 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Everspin Technologies without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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Everspin Technologies Corporate Directors
Everspin Technologies corporate directors refer to members of an Everspin Technologies board of directors. The board of directors generally takes responsibility for the Everspin Technologies' affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of Everspin Technologies' board members must vote for the resolution. The Everspin Technologies board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.| Kevin Conley | Independent Director | Profile | |
| Stephen Socolof | Independent Director | Profile | |
| Geoffrey Ribar | Director | Profile | |
| Michael Gustafson | Independent Director | Profile |
Already Invested in Everspin Technologies?
The danger of trading Everspin Technologies is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Everspin Technologies is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Everspin Technologies. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Everspin Technologies is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether Everspin Technologies is a strong investment it is important to analyze Everspin Technologies' competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Everspin Technologies' future performance. For an informed investment choice regarding Everspin Stock, refer to the following important reports: Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Everspin Technologies. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in nation. To learn how to invest in Everspin Stock, please use our How to Invest in Everspin Technologies guide.Note that the Everspin Technologies information on this page should be used as a complementary analysis to other Everspin Technologies' statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Aroon Oscillator module to analyze current equity momentum using Aroon Oscillator and other momentum ratios.
Complementary Tools for Everspin Stock analysis
When running Everspin Technologies' price analysis, check to measure Everspin Technologies' market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Everspin Technologies is operating at the current time. Most of Everspin Technologies' value examination focuses on studying past and present price action to predict the probability of Everspin Technologies' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Everspin Technologies' price. Additionally, you may evaluate how the addition of Everspin Technologies to your portfolios can decrease your overall portfolio volatility.
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Is Everspin Technologies' industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Everspin Technologies. If investors know Everspin will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Everspin Technologies listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth 2.112 | Earnings Share 0.42 | Revenue Per Share 3.073 | Quarterly Revenue Growth 0.065 | Return On Assets 0.06 |
The market value of Everspin Technologies is measured differently than its book value, which is the value of Everspin that is recorded on the company's balance sheet. Investors also form their own opinion of Everspin Technologies' value that differs from its market value or its book value, called intrinsic value, which is Everspin Technologies' true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Everspin Technologies' market value can be influenced by many factors that don't directly affect Everspin Technologies' underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Everspin Technologies' value and its price as these two are different measures arrived at by different means. Investors typically determine if Everspin Technologies is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Everspin Technologies' price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.