Blue Bird Correlations

BLBD Stock

USD 36.17 1.53 4.06%

The current 90-days correlation between Blue Bird Corp and Polestar Automotive Holding is 0.17 (i.e., Average diversification). The correlation of Blue Bird 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.

Blue Bird Correlation With Market

Significant diversification

The correlation between Blue Bird Corp and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Blue Bird Corp 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 Blue Bird Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

Moving against Blue Stock

0.36	MNTX	Manitex International	Pair Corr
0.37	PL	Planet Labs PBC Trending	Pair Corr
0.35	AZ	A2Z Smart Technologies Tech Boost	Pair Corr
0.33	HI	Hillenbrand Earnings Call This Week	Pair Corr
0.31	GE	GE Aerospace	Pair Corr

Related Correlations Analysis

	VEV	AYRO	PTRA	SOLO	ARVL	GOEV	HYZN	FFIE	PSNY	LI
VEV		0.4	-0.2	-0.54	-0.21	0.87	0.51	0.31	0.65	0.73	VEV
AYRO	0.4		-0.21	-0.59	0.21	0.53	0.72	0.01	0.24	0.19	AYRO
PTRA	-0.2	-0.21		0.32	-0.43	-0.29	-0.43	-0.29	-0.17	-0.33	PTRA
SOLO	-0.54	-0.59	0.32		-0.26	-0.7	-0.68	-0.13	-0.47	-0.16	SOLO
ARVL	-0.21	0.21	-0.43	-0.26		0.15	0.51	-0.17	-0.09	-0.1	ARVL
GOEV	0.87	0.53	-0.29	-0.7	0.15		0.7	0.13	0.63	0.57	GOEV
HYZN	0.51	0.72	-0.43	-0.68	0.51	0.7		-0.11	0.27	0.28	HYZN
FFIE	0.31	0.01	-0.29	-0.13	-0.17	0.13	-0.11		0.42	0.49	FFIE
PSNY	0.65	0.24	-0.17	-0.47	-0.09	0.63	0.27	0.42		0.57	PSNY
LI	0.73	0.19	-0.33	-0.16	-0.1	0.57	0.28	0.49	0.57		LI
	VEV	AYRO	PTRA	SOLO	ARVL	GOEV	HYZN	FFIE	PSNY	LI

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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

GOEV	+ 0.87	VEV
LI	+ 0.73	VEV
HYZN	+ 0.72	AYRO
HYZN	+ 0.7	GOEV
PSNY	+ 0.65	VEV
PSNY	+ 0.63	GOEV

High negative correlations

GOEV	- 0.7	SOLO
HYZN	- 0.68	SOLO
SOLO	- 0.59	AYRO
SOLO	- 0.54	VEV
PSNY	- 0.47	SOLO
HYZN	- 0.43	PTRA

Risk-Adjusted Indicators

There is a big difference between Blue Stock performing well and Blue Bird 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 Blue Bird'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
VEV	15.51	(2.78)	0.00	2.38	0.00	0.00	35.29	(42.11)	108.17
AYRO	3.08	(0.04)	0.00	(1.58)	0.00	0.00	6.17	(5.81)	33.26
PTRA	4.83	0.46	0.10	0.27	5.37	(5.33)	10.08	(8.20)	35.75
SOLO	4.53	0.53	0.11	0.40	4.24	(7.45)	11.29	(6.67)	51.25
ARVL	6.16	(0.48)	0.00	1.55	0.00	0.00	11.70	(11.89)	49.91
GOEV	10.24	(4.05)	0.00	3.95	0.00	0.00	26.34	(27.34)	107.21
HYZN	4.35	(2.04)	0.00	(1.40)	0.00	0.00	8.04	(12.31)	44.94
FFIE	8.21	0.36	0.02	(0.20)	8.19	(13.17)	15.75	(13.82)	103.41
PSNY	3.78	(0.39)	0.00	(0.11)	0.00	0.00	7.02	(8.11)	21.56
LI	2.50	(0.21)	0.00	(0.61)	0.00	0.00	5.07	(5.06)	18.65

Blue Bird Corporate Management

Ted Scartz	General VP	Profile
Vijay Boova	Senior Quality	Profile
Jolene Paver	Senior Officer	Profile
David Bercik	VP Marketing	Profile
Tim Gordon	Senior Marketing	Profile
Razvan Radulescu	Principal CFO	Profile

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