Garmin Correlations

GRMN Stock

USD 212.60 1.08 0.51%

The current 90-days correlation between Garmin and Celestica is -0.21 (i.e., Very good 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

Weak diversification

The correlation between Garmin and DJI is 0.37 (i.e., 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 board of governors.

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

Moving together with Garmin Stock

0.76	VUZI	Vuzix Corp Cmn	Pair Corr
0.75	001314	Emdoor Information	Pair Corr
0.93	UEIC	Universal Electronics	Pair Corr
0.83	SKM	SK Telecom	Pair Corr
0.71	MRRTY	Marfrig Global Foods	Pair Corr

Moving against Garmin Stock

0.7	KB	KB Financial Group	Pair Corr
0.57	HYMTF	Hyundai Motor Earnings Call This Week	Pair Corr
0.39	PKX	POSCO Holdings	Pair Corr
0.33	FINN	First National	Pair Corr
0.86	ECBK	ECB Bancorp	Pair Corr
0.69	FHN-PC	First Horizon	Pair Corr
0.59	PHAR	Pharming Group NV	Pair Corr
0.57	APMSF	Aperam SA	Pair Corr
0.38	CICOF	COSCO SHIPPING Holdings	Pair Corr
0.33	PATK	Patrick Industries	Pair Corr
0.78	NRDS	Nerdwallet	Pair Corr
0.74	DRH	Diamondrock Hospitality	Pair Corr
0.69	FYBR	Frontier Communications	Pair Corr
0.66	RDNW	RideNow Group Symbol Change	Pair Corr

Related Correlations Analysis

	CLS	NOK	KEYS	TDY	FICO	FLEX	ERIC	MPWR	SNDK	CTSH
CLS		0.59	0.39	-0.51	0.33	0.37	0.51	-0.06	0.39	0.26	CLS
NOK	0.59		0.22	-0.41	0.0	0.32	0.66	0.18	0.42	0.23	NOK
KEYS	0.39	0.22		-0.34	0.37	0.34	0.11	-0.31	0.65	0.95	KEYS
TDY	-0.51	-0.41	-0.34		-0.66	0.14	-0.33	0.5	-0.21	-0.35	TDY
FICO	0.33	0.0	0.37	-0.66		0.01	0.04	-0.56	0.05	0.36	FICO
FLEX	0.37	0.32	0.34	0.14	0.01		0.33	0.38	0.07	0.28	FLEX
ERIC	0.51	0.66	0.11	-0.33	0.04	0.33		0.22	0.12	0.09	ERIC
MPWR	-0.06	0.18	-0.31	0.5	-0.56	0.38	0.22		-0.3	-0.38	MPWR
SNDK	0.39	0.42	0.65	-0.21	0.05	0.07	0.12	-0.3		0.67	SNDK
CTSH	0.26	0.23	0.95	-0.35	0.36	0.28	0.09	-0.38	0.67		CTSH
	CLS	NOK	KEYS	TDY	FICO	FLEX	ERIC	MPWR	SNDK	CTSH

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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

CTSH	+ 0.95	KEYS
CTSH	+ 0.67	SNDK
ERIC	+ 0.66	NOK
SNDK	+ 0.65	KEYS
NOK	+ 0.59	CLS
ERIC	+ 0.51	CLS

High negative correlations

FICO	- 0.66	TDY
MPWR	- 0.56	FICO
TDY	- 0.51	CLS
TDY	- 0.41	NOK
CTSH	- 0.38	MPWR
CTSH	- 0.35	TDY

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
CLS	3.78	0.51	0.07	(1.17)	4.92	(3.84)	7.89	(7.56)	27.95
NOK	2.13	0.25	0.08	0.44	2.50	(2.54)	4.21	(4.42)	31.94
KEYS	1.47	0.34	0.09	(2.11)	1.96	(1.53)	2.87	(3.09)	13.11
TDY	1.08	(0.07)	0.00	(0.47)	0.00	0.00	1.75	(1.93)	6.93
FICO	1.59	(0.14)	0.00	(0.04)	0.00	0.00	3.93	(3.16)	9.18
FLEX	2.34	0.17	0.01	(0.59)	2.72	(2.50)	5.40	(4.33)	13.21
ERIC	1.32	0.16	0.08	0.40	1.29	(1.73)	3.48	(1.89)	25.44
MPWR	2.02	(0.08)	0.02	0.07	2.69	(1.91)	4.41	(4.47)	16.13
SNDK	6.09	2.07	0.28	(2.73)	5.67	(7.38)	15.31	(9.85)	36.75
CTSH	1.11	0.36	0.16	(0.93)	0.95	(1.29)	3.10	(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 Boessen	Chief Financial Officer, Treasurer	Profile
	Douglas CPA	CFO Treasurer	Profile

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