Gentex Correlations

GNTX Stock

USD 29.88 0.38 1.29%

The current 90-days correlation between Gentex and Autoliv is 0.45 (i.e., Very weak diversification). The correlation of Gentex 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.

Gentex Correlation With Market

Weak diversification

The correlation between Gentex and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gentex and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Gentex. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

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

Moving together with Gentex Stock

0.65

Visteon Corp

Pair Corr

Moving against Gentex Stock

0.49

NIO

Nio Class A Aggressive Push

Pair Corr

Related Correlations Analysis

	ADNT	ALV	FOXF	DAN	LEA	DORM	BWA	MNRO	MPAA
ADNT		0.01	0.85	0.85	0.81	-0.61	0.4	-0.03	0.37	ADNT
ALV	0.01		-0.22	-0.01	0.2	0.23	-0.2	0.03	0.17	ALV
FOXF	0.85	-0.22		0.85	0.81	-0.75	0.19	-0.24	0.19	FOXF
DAN	0.85	-0.01	0.85		0.84	-0.78	0.2	-0.27	0.26	DAN
LEA	0.81	0.2	0.81	0.84		-0.76	-0.05	-0.42	0.32	LEA
DORM	-0.61	0.23	-0.75	-0.78	-0.76		0.17	0.61	0.04	DORM
BWA	0.4	-0.2	0.19	0.2	-0.05	0.17		0.76	0.4	BWA
MNRO	-0.03	0.03	-0.24	-0.27	-0.42	0.61	0.76		0.35	MNRO
MPAA	0.37	0.17	0.19	0.26	0.32	0.04	0.4	0.35		MPAA
	ADNT	ALV	FOXF	DAN	LEA	DORM	BWA	MNRO	MPAA

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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

FOXF	+ 0.85	ADNT
DAN	+ 0.85	ADNT
DAN	+ 0.85	FOXF
LEA	+ 0.84	DAN
LEA	+ 0.81	ADNT
LEA	+ 0.81	FOXF

High negative correlations

DORM	- 0.78	DAN
DORM	- 0.76	LEA
DORM	- 0.75	FOXF
DORM	- 0.61	ADNT
MNRO	- 0.42	LEA
MNRO	- 0.27	DAN

Risk-Adjusted Indicators

There is a big difference between Gentex Stock performing well and Gentex 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 Gentex'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
ADNT	1.89	(0.29)	0.00	(0.11)	0.00	0.00	4.08	(4.22)	10.66
ALV	1.52	(0.13)	0.00	(0.05)	0.00	0.00	2.80	(3.14)	8.85
FOXF	1.94	(0.52)	0.00	(0.17)	0.00	0.00	3.80	(4.37)	15.31
DAN	2.52	(0.60)	0.00	(0.14)	0.00	0.00	3.88	(5.70)	22.77
LEA	1.37	(0.38)	0.00	(0.23)	0.00	0.00	2.62	(3.17)	9.76
DORM	1.31	0.29	0.22	0.43	0.92	(1.60)	3.10	(2.03)	14.67
BWA	1.30	(0.06)	(0.02)	0.04	1.56	(1.44)	2.84	(2.56)	7.85
MNRO	1.48	(0.11)	(0.04)	0.01	1.72	(1.65)	3.64	(2.57)	8.89
MPAA	2.92	0.07	0.03	0.13	3.41	(3.21)	8.38	(6.22)	19.99

Gentex Corporate Management

Scott Ryan	Assistant General Counsel and Corporate Secretary	Profile
Craig Piersma	Vice Communications	Profile
Josh OBerski	Marketing and Investor Relations	Profile
Paul Flynn	Vice Operations	Profile
Joseph IV	VP Officer	Profile

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