Helios Technologies Correlations

HLIO Stock

USD 73.42 0.72 0.99%

The current 90-days correlation between Helios Technologies and Power Solutions International is 0.5 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Helios Technologies moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Helios Technologies moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Helios Technologies Correlation With Market

Very poor diversification

The correlation between Helios Technologies and DJI is 0.8 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Helios Technologies and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Helios Stock

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

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

Moving together with Helios Stock

0.7	HY	Hyster Yale Materials	Pair Corr
0.86	PH	Parker Hannifin	Pair Corr
0.79	PL	Planet Labs PBC Downward Rally	Pair Corr
0.78	HZ8	Insteel Industries	Pair Corr
0.84	RFG	Roebuck Food Group	Pair Corr
0.9	FSTR	LB Foster	Pair Corr
0.86	WWD	Woodward	Pair Corr
0.91	OERL	OC Oerlikon Corp	Pair Corr
0.77	PRV	Porvair plc	Pair Corr
0.75	EGL	Environmental Group Earnings Call Next Week	Pair Corr
0.8	JBTM	JBTMarel Corp	Pair Corr
0.85	MGAM	Morgan Advanced Materials	Pair Corr
0.91	LECO	Lincoln Electric Holdings Earnings Call This Week	Pair Corr
0.9	LPK	LPKF Laser Electronics	Pair Corr
0.95	OFLX	Omega Flex	Pair Corr
0.82	PKOH	Park Ohio Holdings	Pair Corr
0.73	PRLB	Proto Labs	Pair Corr

Moving against Helios Stock

0.58	XPON	Expion360	Pair Corr
0.38	WATR	Current Water Techno	Pair Corr
0.32	PNR	Pentair PLC	Pair Corr
0.53	PNT	Pentair plc	Pair Corr
0.44	HYFM	Hydrofarm Holdings	Pair Corr
0.33	QST	Questor Technology	Pair Corr
0.31	INLF	INLIF LIMITED Ordinary	Pair Corr
0.84	RAYA	Erayak Power Solution	Pair Corr
0.75	XSG	Xeros Technology	Pair Corr
0.67	UGRO	Urban Gro	Pair Corr
0.64	DFLI	Chardan NexTech Acqu	Pair Corr

Related Correlations Analysis

	PSIX	ENOV	NNE	BW	DXPE	CECO	EPAC	TNC	LZ	HNI
PSIX		-0.53	0.3	0.45	0.82	0.73	0.78	0.73	-0.24	0.62	PSIX
ENOV	-0.53		0.29	-0.75	-0.77	-0.87	-0.5	-0.63	0.59	-0.86	ENOV
NNE	0.3	0.29		-0.2	-0.13	-0.22	0.09	-0.09	0.27	-0.35	NNE
BW	0.45	-0.75	-0.2		0.64	0.73	0.53	0.53	-0.59	0.79	BW
DXPE	0.82	-0.77	-0.13	0.64		0.93	0.79	0.86	-0.51	0.9	DXPE
CECO	0.73	-0.87	-0.22	0.73	0.93		0.71	0.85	-0.47	0.92	CECO
EPAC	0.78	-0.5	0.09	0.53	0.79	0.71		0.79	-0.28	0.65	EPAC
TNC	0.73	-0.63	-0.09	0.53	0.86	0.85	0.79		-0.38	0.83	TNC
LZ	-0.24	0.59	0.27	-0.59	-0.51	-0.47	-0.28	-0.38		-0.7	LZ
HNI	0.62	-0.86	-0.35	0.79	0.9	0.92	0.65	0.83	-0.7		HNI
	PSIX	ENOV	NNE	BW	DXPE	CECO	EPAC	TNC	LZ	HNI

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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

CECO	+ 0.93	DXPE
HNI	+ 0.92	CECO
HNI	+ 0.9	DXPE
TNC	+ 0.86	DXPE
TNC	+ 0.85	CECO
HNI	+ 0.83	TNC

High negative correlations

CECO	- 0.87	ENOV
HNI	- 0.86	ENOV
DXPE	- 0.77	ENOV
BW	- 0.75	ENOV
HNI	- 0.7	LZ
TNC	- 0.63	ENOV

Risk-Adjusted Indicators

There is a big difference between Helios Stock performing well and Helios Technologies 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 Helios Technologies' 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
PSIX	4.22	(0.08)	0.02	0.06	5.10	(5.00)	7.71	(8.26)	24.47
ENOV	2.57	(0.68)	0.00	(0.19)	0.00	0.00	4.95	(5.64)	17.04
NNE	4.94	(0.52)	0.00	(1.84)	0.00	0.00	9.26	(8.88)	23.43
BW	5.45	1.50	0.24	0.69	5.47	(6.09)	13.18	(8.36)	45.75
DXPE	2.45	0.18	0.06	0.16	4.44	(2.46)	4.74	(3.76)	17.74
CECO	1.94	0.39	0.15	0.37	2.32	(2.05)	4.25	(4.14)	11.63
EPAC	1.47	(0.03)	0.00	0.06	2.02	(1.66)	3.65	(2.83)	12.80
TNC	1.23	0.01	0.03	0.10	1.26	(1.40)	3.32	(1.98)	7.68
LZ	2.20	(0.24)	0.00	0.58	0.00	0.00	4.50	(3.80)	26.99
HNI	1.10	0.34	0.30	0.58	0.56	(1.37)	2.93	(1.52)	6.56

Helios Technologies Corporate Management

Cariappa Chenanda	Independent Director	Profile
Jonathan Kaufmann	Chief Design	Profile
Billy Aldridge	Senior Controls	Profile
Gary Gotting	Global Marketing	Profile
Tim LaCrosse	Chief Segment	Profile
Laura Brown	Independent Director	Profile
Alexander Schuetz	Independent Director	Profile

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