Genuine Parts Correlations

GPC Stock

USD 117.74 0.30 0.25%

The current 90-days correlation between Genuine Parts and Dover is 0.57 (i.e., Very weak diversification). The correlation of Genuine Parts 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.

Genuine Parts Correlation With Market

Modest diversification

The correlation between Genuine Parts Co and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Genuine Parts Co 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 Genuine Parts Co. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with Genuine Stock

0.73	HD	Home Depot	Pair Corr
0.63	LE	Lands End	Pair Corr
0.66	DLTH	Duluth Holdings	Pair Corr
0.75	WINA	Winmark	Pair Corr
0.68	CAL	Continental	Pair Corr

Moving against Genuine Stock

0.62	ASO	Academy Sports Outdoors	Pair Corr
0.46	JL	J Long Group	Pair Corr
0.56	FNKO	Funko Inc	Pair Corr
0.54	TLF	Tandy Leather Factory	Pair Corr
0.45	BBW	Build A Bear	Pair Corr
0.44	MOGU	MOGU Inc	Pair Corr
0.4	MNSO	Miniso Group Holding	Pair Corr
0.39	AENT	Alliance Entertainment Downward Rally	Pair Corr
0.33	GRPN	Groupon	Pair Corr
0.31	BOOT	Boot Barn Holdings	Pair Corr

Related Correlations Analysis

	DOV	CINF	LEG	GWW	ITW
DOV		0.51	0.68	0.65	0.74	DOV
CINF	0.51		0.67	0.82	0.83	CINF
LEG	0.68	0.67		0.87	0.9	LEG
GWW	0.65	0.82	0.87		0.91	GWW
ITW	0.74	0.83	0.9	0.91		ITW
	DOV	CINF	LEG	GWW	ITW

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Risk-Adjusted Indicators

There is a big difference between Genuine Stock performing well and Genuine Parts 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 Genuine Parts' 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
DOV	0.86	0.06	0.02	0.18	0.89	(1.05)	1.96	(1.39)	9.35
CINF	1.12	(0.08)	0.00	(0.05)	0.00	0.00	2.13	(2.49)	10.96
LEG	1.90	(0.32)	0.00	(0.28)	0.00	0.00	3.37	(3.88)	18.18
GWW	0.96	(0.15)	0.00	(0.13)	0.00	0.00	1.55	(1.95)	12.13
ITW	0.75	(0.07)	0.00	(0.11)	0.00	0.00	1.74	(1.39)	5.88

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