Garmin Correlations

Stocks . USA . 
Stock . Garmin
GRMN Stock  USD 202.44  0.41  0.20%   
The current 90-days correlation between Garmin and Celestica is 0.16 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Garmin moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Garmin moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Garmin Correlation With Market

Very weak diversification

The correlation between Garmin and DJI is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Garmin and DJI in the same portfolio, assuming nothing else is changed.
  
Build AI portfolio with Garmin Stock
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Garmin. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in industry.
To learn how to invest in Garmin Stock, please use our How to Invest in Garmin guide.

Moving together with Garmin Stock

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Moving against Garmin Stock

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Related Correlations Analysis


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

CTSH
+ 0.94
KEYS
ERIC
+ 0.85
NOK
NOK
+ 0.8
CLS
SNDK
+ 0.76
NOK
ERIC
+ 0.74
CLS
SNDK
+ 0.73
CLS
  

High negative correlations

SNDK
- 0.82
TDY
TDY
- 0.73
NOK
TDY
- 0.73
CLS
ERIC
- 0.68
TDY
CTSH
- 0.62
TDY
TDY
- 0.53
KEYS

Risk-Adjusted Indicators

There is a big difference between Garmin Stock performing well and Garmin 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 Garmin'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
CLS  3.69  0.27  0.07  0.16  5.03 
(3.72)
 7.89 
(7.56)
 27.95 
NOK  2.00  0.48  0.17  0.65  2.34 
(2.24)
 3.47 
(3.42)
 31.94 
KEYS  1.49  0.16  0.10  0.13  1.92 
(1.60)
 2.87 
(3.09)
 13.11 
TDY  1.09 (0.24) 0.00 (0.17) 0.00 
 0.00 
 1.70 
(1.97)
 6.93 
FICO  1.96  0.12  0.05  0.16  2.53 
(2.15)
 3.93 
(3.16)
 27.80 
FLEX  2.31  0.07  0.04  0.09  2.62 
(2.49)
 5.40 
(4.33)
 13.21 
ERIC  1.26  0.19  0.12  0.29  1.22 
(1.53)
 1.78 
(1.89)
 25.04 
MPWR  2.15 (0.07) 0.00  0.03  2.91 
(2.10)
 4.41 
(4.47)
 16.13 
SNDK  5.72  1.36  0.24  0.33  5.88 
(6.96)
 15.14 
(9.85)
 36.75 
CTSH  1.02  0.24  0.17  0.28  0.96 
(1.11)
 2.80 
(1.99)
 8.17 

Garmin Corporate Executives

Elected by the shareholders, the Garmin's board of directors comprises two types of representatives: Garmin inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Garmin. The board's role is to monitor Garmin's management team and ensure that shareholders' interests are well served. Garmin's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Garmin's outside directors are responsible for providing unbiased perspectives on the board's policies.
Douglas BoessenChief Financial Officer, TreasurerProfile
Douglas CPACFO TreasurerProfile
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