Dmc Global Correlations

BOOM Stock

USD 8.46 0.18 2.17%

The current 90-days correlation between Dmc Global and DRQ Old is -0.09 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Dmc Global moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Dmc Global moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Dmc Global Correlation With Market

Good diversification

The correlation between Dmc Global and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dmc Global 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 Dmc Global. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

To learn how to invest in Dmc Stock, please use our How to Invest in Dmc Global guide.

Moving together with Dmc Stock

0.88	TUSK	Mammoth Energy Services	Pair Corr
0.62	J	Jacobs Solutions	Pair Corr
0.74	BW	Babcock Wilcox Enter Buyout Trend	Pair Corr
0.61	CP	Canadian Pacific Railway	Pair Corr
0.75	EH	Ehang Holdings	Pair Corr
0.77	GD	General Dynamics	Pair Corr
0.71	GP	GreenPower Motor	Pair Corr
0.81	HY	Hyster Yale Materials	Pair Corr
0.83	OP	Oceanpal	Pair Corr

Moving against Dmc Stock

0.85	BE	Bloom Energy Corp	Pair Corr
0.83	AZ	A2Z Smart Technologies Tech Boost	Pair Corr
0.67	MDU	MDU Resources Group Earnings Call This Week	Pair Corr
0.67	SPLP-PA	Steel Partners Holdings	Pair Corr
0.62	BR	Broadridge Financial	Pair Corr
0.56	R	Ryder System	Pair Corr
0.56	BA	Boeing	Pair Corr
0.54	B	Barnes Group	Pair Corr
0.54	G	Genpact Limited Earnings Call This Week	Pair Corr
0.52	AL	Air Lease	Pair Corr
0.35	AP	Ampco Pittsburgh	Pair Corr
0.75	KC	Kingsoft Cloud Holdings Trending	Pair Corr
0.48	HI	Hillenbrand Earnings Call This Week	Pair Corr
0.38	DE	Deere Company	Pair Corr

Related Correlations Analysis

	CHX	DRQ	EFXT	RES	FET	XPRO	RNGR	WHD	MRC	VTOL
CHX		0.63	-0.22	0.38	0.13	0.54	0.37	0.8	0.63	0.83	CHX
DRQ	0.63		-0.72	-0.25	-0.41	0.18	-0.29	0.49	-0.03	0.42	DRQ
EFXT	-0.22	-0.72		0.52	0.54	-0.13	0.76	-0.02	0.46	0.06	EFXT
RES	0.38	-0.25	0.52		0.84	0.65	0.81	0.43	0.7	0.45	RES
FET	0.13	-0.41	0.54	0.84		0.55	0.72	0.12	0.61	0.14	FET
XPRO	0.54	0.18	-0.13	0.65	0.55		0.36	0.45	0.37	0.52	XPRO
RNGR	0.37	-0.29	0.76	0.81	0.72	0.36		0.51	0.82	0.53	RNGR
WHD	0.8	0.49	-0.02	0.43	0.12	0.45	0.51		0.55	0.86	WHD
MRC	0.63	-0.03	0.46	0.7	0.61	0.37	0.82	0.55		0.58	MRC
VTOL	0.83	0.42	0.06	0.45	0.14	0.52	0.53	0.86	0.58		VTOL
	CHX	DRQ	EFXT	RES	FET	XPRO	RNGR	WHD	MRC	VTOL

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

VTOL	+ 0.86	WHD
FET	+ 0.84	RES
VTOL	+ 0.83	CHX
MRC	+ 0.82	RNGR
RNGR	+ 0.81	RES
WHD	+ 0.8	CHX

High negative correlations

EFXT	- 0.72	DRQ
FET	- 0.41	DRQ
RNGR	- 0.29	DRQ
RES	- 0.25	DRQ
EFXT	- 0.22	CHX
XPRO	- 0.13	EFXT

Risk-Adjusted Indicators

There is a big difference between Dmc Stock performing well and Dmc Global 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 Dmc Global'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
CHX	1.42	(0.05)	0.00	(0.03)	0.00	0.00	2.85	(2.87)	14.33
DRQ	1.89	(0.11)	0.00	(0.76)	0.00	0.00	3.57	(4.30)	12.98
EFXT	1.67	0.62	0.25	2.83	1.75	(2.00)	3.72	(2.18)	13.85
RES	1.90	0.03	(0.01)	0.15	2.38	(2.18)	4.40	(3.87)	18.40
FET	2.17	0.34	0.14	0.52	1.91	(2.69)	5.97	(3.40)	14.78
XPRO	1.99	(0.13)	0.00	(0.31)	0.00	0.00	3.70	(4.76)	20.57
RNGR	1.59	0.47	0.21	0.82	1.61	(1.93)	4.42	(2.62)	11.52
WHD	1.55	0.02	(0.01)	0.13	1.84	(1.72)	3.55	(2.51)	16.96
MRC	1.51	0.27	0.13	0.78	1.35	(1.81)	3.28	(2.30)	18.83
VTOL	1.40	(0.01)	(0.04)	0.05	1.72	(1.63)	2.92	(2.98)	14.67

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC