Adient PLC Correlations

ADNT Stock

USD 18.15 0.20 1.11%

The current 90-days correlation between Adient PLC and Autoliv is 0.61 (i.e., Poor diversification). The correlation of Adient PLC 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.

Adient PLC Correlation With Market

Average diversification

The correlation between Adient PLC and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Adient PLC and DJI 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 Adient PLC. 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.

For more information on how to buy Adient Stock please use our How to Invest in Adient PLC guide.

Moving together with Adient Stock

0.84	VC	Visteon Corp	Pair Corr
0.82	BWA	BorgWarner Earnings Call This Week	Pair Corr
0.74	THO	Thor Industries	Pair Corr
0.82	GNTX	Gentex	Pair Corr
0.89	GOEV	Canoo Inc	Pair Corr
0.71	RACE	Ferrari NV	Pair Corr
0.63	AYRO	AYRO Inc	Pair Corr
0.9	BC	Brunswick	Pair Corr
0.67	SG	Sweetgreen Sell-off Trend	Pair Corr
0.81	WING	Wingstop	Pair Corr
0.63	FLXS	Flexsteel Industries Earnings Call This Week	Pair Corr
0.79	BBY	Best Buy	Pair Corr

Moving against Adient Stock

0.88	INVZ	Innoviz Technologies	Pair Corr
0.81	LCID	Lucid Group	Pair Corr
0.7	RIVN	Rivian Automotive	Pair Corr
0.58	DAN	Dana Inc Trending	Pair Corr
0.4	SVMH	SRIVARU Holding	Pair Corr
0.77	TSLA	Tesla Inc	Pair Corr
0.75	GV	Visionary Education	Pair Corr
0.73	BH	Biglari Holdings	Pair Corr
0.71	EEIQ	Elite Education Group	Pair Corr
0.7	DAO	Youdao Inc	Pair Corr
0.68	ASO	Academy Sports Outdoors	Pair Corr
0.55	FOSL	Fossil Group	Pair Corr
0.54	DOOO	BRP Inc	Pair Corr
0.4	EDTK	Skillful Craftsman	Pair Corr

Related Correlations Analysis

	GNTX	ALV	FOXF	DAN	LEA	AXL	VC	ALSN	CVGI	MNRO
GNTX		0.13	0.79	-0.51	0.68	0.7	0.91	-0.07	0.69	0.86	GNTX
ALV	0.13		-0.01	0.3	0.42	0.38	0.22	0.68	-0.08	0.01	ALV
FOXF	0.79	-0.01		-0.67	0.4	0.38	0.76	-0.33	0.89	0.77	FOXF
DAN	-0.51	0.3	-0.67		0.13	-0.25	-0.42	0.15	-0.57	-0.74	DAN
LEA	0.68	0.42	0.4	0.13		0.69	0.77	0.11	0.38	0.43	LEA
AXL	0.7	0.38	0.38	-0.25	0.69		0.78	0.37	0.22	0.72	AXL
VC	0.91	0.22	0.76	-0.42	0.77	0.78		-0.01	0.66	0.83	VC
ALSN	-0.07	0.68	-0.33	0.15	0.11	0.37	-0.01		-0.46	-0.02	ALSN
CVGI	0.69	-0.08	0.89	-0.57	0.38	0.22	0.66	-0.46		0.61	CVGI
MNRO	0.86	0.01	0.77	-0.74	0.43	0.72	0.83	-0.02	0.61		MNRO
	GNTX	ALV	FOXF	DAN	LEA	AXL	VC	ALSN	CVGI	MNRO

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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

VC	+ 0.91	GNTX
CVGI	+ 0.89	FOXF
MNRO	+ 0.86	GNTX
MNRO	+ 0.83	VC
FOXF	+ 0.79	GNTX
VC	+ 0.78	AXL

High negative correlations

MNRO	- 0.74	DAN
DAN	- 0.67	FOXF
CVGI	- 0.57	DAN
DAN	- 0.51	GNTX
CVGI	- 0.46	ALSN
VC	- 0.42	DAN

Risk-Adjusted Indicators

There is a big difference between Adient Stock performing well and Adient PLC 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 Adient PLC'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
GNTX	1.05	(0.11)	0.00	(0.15)	0.00	0.00	2.25	(2.06)	7.93
ALV	1.25	0.05	0.00	0.23	1.55	(1.24)	2.47	(2.44)	7.87
FOXF	1.94	(0.44)	0.00	(1.25)	0.00	0.00	3.00	(4.37)	10.26
DAN	2.95	0.74	0.17	0.89	3.50	(3.31)	7.05	(3.69)	20.84
LEA	1.23	(0.04)	(0.06)	(0.02)	1.68	(1.16)	2.31	(2.56)	7.29
AXL	2.19	(0.23)	0.00	(0.20)	0.00	0.00	5.00	(4.06)	18.81
VC	1.35	(0.14)	0.00	(0.17)	0.00	0.00	3.18	(3.23)	8.76
ALSN	1.23	0.25	0.11	0.75	1.32	(1.27)	3.04	(2.05)	12.69
CVGI	3.27	(0.23)	0.00	0.23	0.00	0.00	6.88	(6.85)	30.58
MNRO	1.48	(0.51)	0.00	(3.18)	0.00	0.00	1.85	(3.50)	13.35

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