Hubbell Correlations

HUBB Stock

USD 426.57 8.86 2.12%

The current 90-days correlation between Hubbell and Enersys is 0.34 (i.e., Weak 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

Modest diversification

The correlation between Hubbell and DJI is 0.27 (i.e., Modest 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.

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

0.72	EAF	GrafTech International	Pair Corr
0.61	GTI	Graphjet Technology Symbol Change	Pair Corr
0.96	NVT	nVent Electric PLC	Pair Corr
0.63	HAYW	Hayward Holdings	Pair Corr

Moving against Hubbell Stock

0.5	EOSE	Eos Energy Enterprises	Pair Corr
0.36	ENVX	Enovix Corp	Pair Corr
0.34	NXU	Nxu Inc	Pair Corr
0.65	SLDPW	Solid Power	Pair Corr
0.6	MVSTW	Microvast Holdings	Pair Corr
0.59	EOSEW	Eos Energy Enterprises	Pair Corr
0.49	ADSEW	ADS TEC ENERGY	Pair Corr
0.48	GAUZ	Gauzy Ordinary	Pair Corr
0.41	OPTT	Ocean Power Technologies	Pair Corr
0.4	STI	Solidion Technology Symbol Change	Pair Corr
0.35	MVST	Microvast Holdings	Pair Corr
0.32	IPWR	Ideal Power	Pair Corr

Related Correlations Analysis

	AEIS	ENS	AYI	KE	NVT	VRT	ENR	HOLI	ATKR	ESP
AEIS		0.07	0.23	0.15	0.22	0.59	0.15	0.0	0.02	-0.37	AEIS
ENS	0.07		0.43	0.34	0.14	0.08	-0.24	0.0	0.42	0.37	ENS
AYI	0.23	0.43		0.51	0.53	0.47	0.19	0.0	0.41	0.15	AYI
KE	0.15	0.34	0.51		0.78	0.39	0.17	0.0	0.86	0.58	KE
NVT	0.22	0.14	0.53	0.78		0.64	0.52	0.0	0.74	0.21	NVT
VRT	0.59	0.08	0.47	0.39	0.64		0.4	0.0	0.16	-0.2	VRT
ENR	0.15	-0.24	0.19	0.17	0.52	0.4		0.0	0.11	-0.34	ENR
HOLI	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	HOLI
ATKR	0.02	0.42	0.41	0.86	0.74	0.16	0.11	0.0		0.56	ATKR
ESP	-0.37	0.37	0.15	0.58	0.21	-0.2	-0.34	0.0	0.56		ESP
	AEIS	ENS	AYI	KE	NVT	VRT	ENR	HOLI	ATKR	ESP

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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

ATKR	+ 0.86	KE
NVT	+ 0.78	KE
ATKR	+ 0.74	NVT
VRT	+ 0.64	NVT
VRT	+ 0.59	AEIS
ESP	+ 0.58	KE

High negative correlations

ESP	- 0.37	AEIS
ESP	- 0.34	ENR
ENR	- 0.24	ENS
ESP	- 0.2	VRT
ESP	- 0.0	HOLI
ATKR	- 0.0	HOLI

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
AEIS	1.68	0.08	0.00	0.39	2.41	(1.73)	3.29	(3.27)	15.56
ENS	1.31	(0.05)	(0.05)	0.00	1.65	(1.40)	2.76	(2.23)	8.89
AYI	1.12	0.15	0.05	2.40	1.19	(1.24)	2.19	(1.94)	6.95
KE	1.48	(0.04)	(0.03)	0.04	1.86	(1.48)	2.30	(2.96)	12.30
NVT	1.68	(0.06)	0.00	(0.03)	0.00	0.00	3.32	(3.46)	26.00
VRT	3.22	0.20	0.03	0.34	6.41	(3.10)	6.23	(5.44)	44.45
ENR	1.14	0.06	0.01	0.22	1.31	(1.22)	1.74	(2.37)	12.16
HOLI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ATKR	2.04	(0.06)	0.00	(0.03)	0.00	0.00	3.82	(3.71)	22.18
ESP	1.69	(0.19)	0.00	(0.39)	0.00	0.00	3.77	(2.82)	10.44

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