Harley Davidson Correlations

HOG Stock

USD 20.58 0.36 1.72%

The current 90-days correlation between Harley Davidson and LCI Industries is 0.49 (i.e., Very weak diversification). The correlation of Harley Davidson 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.

Harley Davidson Correlation With Market

Pay attention - limited upside

The correlation between Harley Davidson and DJI is -0.72 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Harley Davidson and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Harley Stock

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

For more detail on how to invest in Harley Stock please use our How to Invest in Harley Davidson guide.

Moving together with Harley Stock

0.79	NIU	Niu Technologies	Pair Corr
0.82	SEV	Aptera Motors Corp	Pair Corr
0.68	PBCRF	PT Bank Central	Pair Corr
0.85	PBCRY	Bank Central Asia	Pair Corr
0.63	PTAIF	PT Astra International	Pair Corr

Moving against Harley Stock

0.86	CMPNF	Champion Real Estate	Pair Corr
0.64	TLKMF	Telkom Indonesia Tbk	Pair Corr
0.41	PPERY	Bank Mandiri Persero	Pair Corr
0.91	KRFG	King Resources	Pair Corr
0.78	FTRE	Fortrea Holdings	Pair Corr
0.76	PAOG	Pao Group	Pair Corr
0.72	EPIAF	Epiroc AB	Pair Corr
0.72	MCW	Mister Car Wash	Pair Corr
0.62	DISPF	Disco Tech Boost	Pair Corr
0.61	COCCF	Coast Copper Corp	Pair Corr
0.58	CNO	CNO Financial Group	Pair Corr
0.58	DIIBF	Dorel Industries	Pair Corr
0.54	GEL	Genesis Energy LP Earnings Call Today	Pair Corr
0.5	NPCE	Neuropace	Pair Corr
0.5	GPGI	GPGI Inc Symbol Change	Pair Corr
0.47	WILLF	Demant A/S	Pair Corr
0.47	KVLQF	ValOre Metals Corp Earnings Call Today	Pair Corr
0.43	BRNGF	Buru Energy Limited	Pair Corr
0.91	AKRO	Akero Therapeutics	Pair Corr
0.88	VSCO	Victorias Secret	Pair Corr
0.81	TSBK	Timberland Bancorp	Pair Corr
0.8	IBIO	iBio Common Stock	Pair Corr
0.78	GRFS	Grifols SA ADR	Pair Corr
0.77	KDK	Kodiak AI Common Symbol Change	Pair Corr

Related Correlations Analysis

	LCII	PII	MHO	RUSHA	GTX	ANF	RRR	ASO	CARG	VC
LCII		0.49	0.62	0.97	0.83	0.29	0.77	0.85	-0.57	-0.6	LCII
PII	0.49		0.51	0.52	0.53	0.58	0.6	0.78	0.13	-0.07	PII
MHO	0.62	0.51		0.7	0.57	0.09	0.5	0.61	-0.48	-0.05	MHO
RUSHA	0.97	0.52	0.7		0.8	0.31	0.76	0.87	-0.59	-0.47	RUSHA
GTX	0.83	0.53	0.57	0.8		0.27	0.79	0.77	-0.45	-0.33	GTX
ANF	0.29	0.58	0.09	0.31	0.27		0.65	0.58	0.5	-0.28	ANF
RRR	0.77	0.6	0.5	0.76	0.79	0.65		0.81	-0.14	-0.36	RRR
ASO	0.85	0.78	0.61	0.87	0.77	0.58	0.81		-0.23	-0.42	ASO
CARG	-0.57	0.13	-0.48	-0.59	-0.45	0.5	-0.14	-0.23		0.15	CARG
VC	-0.6	-0.07	-0.05	-0.47	-0.33	-0.28	-0.36	-0.42	0.15		VC
	LCII	PII	MHO	RUSHA	GTX	ANF	RRR	ASO	CARG	VC

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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

RUSHA	+ 0.97	LCII
ASO	+ 0.87	RUSHA
ASO	+ 0.85	LCII
GTX	+ 0.83	LCII
ASO	+ 0.81	RRR
GTX	+ 0.8	RUSHA

High negative correlations

VC	- 0.6	LCII
CARG	- 0.59	RUSHA
CARG	- 0.57	LCII
CARG	- 0.48	MHO
VC	- 0.47	RUSHA
CARG	- 0.45	GTX

Risk-Adjusted Indicators

There is a big difference between Harley Stock performing well and Harley Davidson 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 Harley Davidson'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
LCII	1.22	0.50	0.48	0.66	0.24	(1.52)	3.99	(1.78)	11.30
PII	1.76	(0.09)	(0.01)	0.04	1.83	(2.02)	4.43	(2.78)	10.57
MHO	1.50	0.10	0.07	0.18	1.44	(1.76)	4.51	(2.13)	10.17
RUSHA	1.40	0.57	0.35	0.64	0.97	(1.62)	4.15	(2.20)	10.82
GTX	1.39	0.18	0.13	0.25	1.35	(1.69)	3.18	(2.62)	7.19
ANF	3.15	0.36	0.11	0.27	3.65	(3.65)	5.90	(4.99)	55.23
RRR	1.52	0.15	0.09	0.22	1.69	(1.65)	4.60	(2.69)	10.59
ASO	2.30	0.27	0.14	0.26	1.99	(2.70)	5.20	(3.51)	12.70
CARG	1.43	(0.34)	0.00	(0.34)	0.00	0.00	2.61	(2.97)	15.19
VC	1.60	(0.14)	0.00	(0.02)	0.00	0.00	4.30	(2.78)	8.62

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