Sequans Communications Correlations

SQNS Stock  USD 2.65  0.01  0.38%   
The current 90-days correlation between Sequans Communications and QuickLogic is 0.24 (i.e., Modest diversification). The correlation of Sequans Communications 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.

Sequans Communications Correlation With Market

Modest diversification

The correlation between Sequans Communications SA and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sequans Communications SA and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Sequans Communications SA. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with Sequans Stock

  0.62SMTC SemtechPairCorr

Moving against Sequans Stock

  0.47MX MagnaChip SemiconductorPairCorr
  0.42FORM FormFactorPairCorr
  0.38STM STMicroelectronics NV ADR Fiscal Year End 23rd of January 2025 PairCorr
  0.36VLN ValensPairCorr
  0.35MCHP Microchip TechnologyPairCorr
  0.34ON ON SemiconductorPairCorr
  0.34GFS GlobalfoundriesPairCorr
  0.34KLAC KLA TencorPairCorr
  0.33MKSI MKS InstrumentsPairCorr
  0.32UMC United MicroelectronicsPairCorr
  0.62CAMT CamtekPairCorr
  0.53NVMI NovaPairCorr
  0.47ACLS Axcelis TechnologiesPairCorr
  0.46SWKS Skyworks SolutionsPairCorr
  0.46CRUS Cirrus LogicPairCorr
  0.43ASML ASML Holding NV Fiscal Year End 22nd of January 2025 PairCorr
  0.42AMKR Amkor TechnologyPairCorr
  0.36QRVO Qorvo IncPairCorr
  0.33AEHR Aehr Test SystemsPairCorr

Related Correlations Analysis

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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   
MTSICEVA
MXFORM
NVTSFORM
FORMQUIK
POWIQUIK
NVTSQUIK
  
High negative correlations   
MXLNVTS
MTSIMX
CEVAMX
MXLMX
CEVANVTS
MXLFORM

Risk-Adjusted Indicators

There is a big difference between Sequans Stock performing well and Sequans Communications 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 Sequans Communications' 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
QUIK  2.86 (0.54) 0.00 (0.09) 0.00 
 5.48 
 17.97 
POWI  2.01 (0.22)(0.03) 0.04  2.36 
 3.97 
 16.58 
SLAB  2.14 (0.29)(0.01) 0.04  2.87 
 4.62 
 16.87 
FORM  2.47 (0.53) 0.00 (0.07) 0.00 
 4.53 
 19.85 
NVTS  3.93 (1.05) 0.00 (0.29) 0.00 
 7.83 
 21.74 
MX  1.71 (0.36) 0.00 (2.55) 0.00 
 3.36 
 17.81 
CEVA  2.12  0.19  0.12  0.27  1.93 
 4.62 
 20.17 
MXL  3.52 (0.11) 0.06  0.12  4.28 
 10.08 
 27.68 
LASR  2.62 (0.27)(0.02) 0.03  4.63 
 4.41 
 51.57 
MTSI  2.03  0.13  0.09  0.22  2.29 
 5.00 
 16.57