Hubbell Correlations

HUBB Stock

USD 497.97 12.24 2.52%

The current 90-days correlation between Hubbell and Veralto is 0.07 (i.e., Significant diversification). The correlation of Hubbell 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.

Hubbell Correlation With Market

Poor diversification

The correlation between Hubbell and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hubbell and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Hubbell Stock

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

For information on how to trade Hubbell Stock refer to our How to Trade Hubbell Stock guide.

Moving together with Hubbell Stock

0.77	AME	Ametek Inc Earnings Call This Week	Pair Corr
0.72	ESP	Espey Mfg Electronics	Pair Corr
0.71	002121	Shenzhen Clou Electronics	Pair Corr
0.76	603662	Keli Sensing Technology	Pair Corr
0.67	002322	Ningbo Ligong Online	Pair Corr
0.77	600363	Jiangxi Lianchuang Opto	Pair Corr
0.8	002339	Integrated Electronic	Pair Corr
0.76	003021	Henzhen Zhaowei Machinery	Pair Corr
0.71	301439	Weihai Honglin Electronic	Pair Corr
0.8	603115	Nantong Haixing Elec	Pair Corr
0.73	603045	Fuda Alloy Materials	Pair Corr
0.64	ULBI	Ultralife	Pair Corr

Moving against Hubbell Stock

0.32	300207	Sunwoda Electronic	Pair Corr
0.62	BRK-A	Berkshire Hathaway	Pair Corr
0.6	TRNR	Interactive Strength	Pair Corr
0.6	APVO	Aptevo Therapeutics	Pair Corr
0.57	NVVE	Nuvve Holding Corp	Pair Corr
0.45	CBAT	CBAK Energy Technology	Pair Corr

Related Correlations Analysis

	VLTO	DOV	EFX	NVT	CW	AER	EME	ESLT	ODFL	AYI
VLTO		0.35	0.58	0.06	0.27	0.09	0.29	0.34	0.39	-0.31	VLTO
DOV	0.35		0.27	-0.16	0.55	0.86	0.15	0.86	0.96	-0.22	DOV
EFX	0.58	0.27		0.0	0.11	0.05	0.34	0.23	0.29	-0.21	EFX
NVT	0.06	-0.16	0.0		0.59	-0.4	0.82	0.1	-0.01	-0.3	NVT
CW	0.27	0.55	0.11	0.59		0.28	0.74	0.8	0.65	-0.71	CW
AER	0.09	0.86	0.05	-0.4	0.28		-0.21	0.71	0.81	0.08	AER
EME	0.29	0.15	0.34	0.82	0.74	-0.21		0.41	0.3	-0.69	EME
ESLT	0.34	0.86	0.23	0.1	0.8	0.71	0.41		0.91	-0.56	ESLT
ODFL	0.39	0.96	0.29	-0.01	0.65	0.81	0.3	0.91		-0.31	ODFL
AYI	-0.31	-0.22	-0.21	-0.3	-0.71	0.08	-0.69	-0.56	-0.31		AYI
	VLTO	DOV	EFX	NVT	CW	AER	EME	ESLT	ODFL	AYI

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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

ODFL	+ 0.96	DOV
ODFL	+ 0.91	ESLT
AER	+ 0.86	DOV
ESLT	+ 0.86	DOV
EME	+ 0.82	NVT
ODFL	+ 0.81	AER

High negative correlations

AYI	- 0.71	CW
AYI	- 0.69	EME
AYI	- 0.56	ESLT
AER	- 0.4	NVT
AYI	- 0.31	ODFL
AYI	- 0.31	VLTO

Risk-Adjusted Indicators

There is a big difference between Hubbell Stock performing well and Hubbell 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 Hubbell'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
VLTO	0.87	(0.12)	0.00	(0.15)	0.00	0.00	1.43	(1.83)	8.53
DOV	0.90	0.14	0.14	0.16	0.88	(1.02)	2.96	(1.82)	5.92
EFX	1.31	(0.19)	0.00	(0.49)	0.00	0.00	2.95	(3.01)	9.21
NVT	1.82	(0.03)	0.00	0.03	2.75	(1.73)	3.47	(3.99)	10.78
CW	1.50	0.16	0.09	0.16	1.74	(1.57)	3.22	(2.62)	8.10
AER	0.95	0.25	0.21	1.60	0.69	(1.13)	2.39	(1.63)	11.63
EME	1.83	(0.07)	(0.01)	0.00	3.71	(1.64)	3.66	(3.76)	20.01
ESLT	1.62	0.57	0.30	1.20	1.33	(1.86)	3.77	(2.68)	10.89
ODFL	1.59	0.29	0.20	0.22	1.26	(1.84)	4.94	(2.33)	10.14
AYI	1.38	(0.27)	0.00	(0.30)	0.00	0.00	2.47	(2.93)	16.54

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