Deere Correlations

DE Stock

USD 480.22 14.00 3.00%

The current 90-days correlation between Deere Company and PACCAR Inc is 0.43 (i.e., Very weak diversification). The correlation of Deere 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.

Deere Correlation With Market

Modest diversification

The correlation between Deere Company and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Deere Company and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Deere Company. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with Deere Stock

0.95	CNH	CNH Industrial NV Symbol Change	Pair Corr
0.76	LNN	Lindsay	Pair Corr
0.75	TWI	Titan International	Pair Corr
0.87	AGCO	AGCO	Pair Corr

Moving against Deere Stock

0.67	NKLA	Nikola Corp Earnings Call This Week	Pair Corr
0.55	UGRO	Urban Gro	Pair Corr
0.51	WNC	Wabash National	Pair Corr
0.44	GENC	Gencor Industries	Pair Corr
0.59	BW	Babcock Wilcox Enter	Pair Corr
0.54	GD	General Dynamics	Pair Corr
0.41	KE	Kimball Electronics	Pair Corr
0.31	BV	BrightView Holdings	Pair Corr

Related Correlations Analysis

	AGCO	NKLA	PCAR	CNHI	LNN	ALG	CAT	MTW	WNC	TEX
AGCO		-0.43	0.35	0.0	0.87	0.09	0.44	0.23	-0.25	0.14	AGCO
NKLA	-0.43		0.54	0.0	-0.25	0.54	0.51	0.5	0.81	0.75	NKLA
PCAR	0.35	0.54		0.0	0.49	0.54	0.8	0.63	0.6	0.81	PCAR
CNHI	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	CNHI
LNN	0.87	-0.25	0.49	0.0		0.2	0.53	0.47	-0.2	0.29	LNN
ALG	0.09	0.54	0.54	0.0	0.2		0.65	0.67	0.67	0.79	ALG
CAT	0.44	0.51	0.8	0.0	0.53	0.65		0.61	0.6	0.83	CAT
MTW	0.23	0.5	0.63	0.0	0.47	0.67	0.61		0.31	0.79	MTW
WNC	-0.25	0.81	0.6	0.0	-0.2	0.67	0.6	0.31		0.76	WNC
TEX	0.14	0.75	0.81	0.0	0.29	0.79	0.83	0.79	0.76		TEX
	AGCO	NKLA	PCAR	CNHI	LNN	ALG	CAT	MTW	WNC	TEX

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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

LNN	+ 0.87	AGCO
TEX	+ 0.83	CAT
WNC	+ 0.81	NKLA
TEX	+ 0.81	PCAR
CAT	+ 0.8	PCAR
TEX	+ 0.79	ALG

High negative correlations

NKLA	- 0.43	AGCO
LNN	- 0.25	NKLA
WNC	- 0.25	AGCO
WNC	- 0.2	LNN
TEX	- 0.0	CNHI
WNC	- 0.0	CNHI

Risk-Adjusted Indicators

There is a big difference between Deere Stock performing well and Deere 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 Deere'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
AGCO	1.65	0.12	0.06	0.39	1.91	(1.78)	3.33	(3.43)	11.92
NKLA	7.02	(1.99)	0.00	(0.85)	0.00	0.00	10.74	(17.48)	65.36
PCAR	1.04	(0.07)	0.00	(0.14)	0.00	0.00	2.16	(2.43)	7.16
CNHI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LNN	1.12	0.08	0.06	0.10	1.23	(1.28)	2.52	(1.86)	6.19
ALG	1.04	(0.09)	0.00	(0.15)	0.00	0.00	2.03	(2.40)	5.58
CAT	1.10	(0.16)	0.00	(0.22)	0.00	0.00	2.21	(2.81)	8.22
MTW	1.93	0.03	0.01	0.02	2.22	(2.31)	5.24	(3.93)	11.74
WNC	1.75	(0.69)	0.00	(6.32)	0.00	0.00	2.54	(4.44)	10.01
TEX	1.67	(0.30)	0.00	(0.24)	0.00	0.00	3.00	(3.80)	8.60

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