MKDWELL Tech Correlations

MKDWW Stock

0.02 0 4.80%

The current 90-days correlation between MKDWELL Tech Warrants and Barnes Group is -0.23 (i.e., Very good diversification). The correlation of MKDWELL Tech 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. If the correlation is 0, the equities are not correlated; they are entirely random.

MKDWELL Tech Correlation With Market

Good diversification

The correlation between MKDWELL Tech Warrants and DJI is -0.19 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MKDWELL Tech Warrants and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in MKDWELL Tech Warrants. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in housing.

Moving against MKDWELL Stock

0.61	AME	Ametek Inc	Pair Corr
0.57	HI	Hillenbrand	Pair Corr
0.56	EMR	Emerson Electric	Pair Corr
0.52	CR	Crane Company	Pair Corr
0.5	PH	Parker Hannifin	Pair Corr
0.45	EPAC	Enerpac Tool Group Earnings Call This Week	Pair Corr
0.45	CMI	Cummins	Pair Corr
0.43	DOV	Dover	Pair Corr
0.36	ETN	Eaton PLC	Pair Corr
0.34	CXT	Crane NXT	Pair Corr
0.61	KAI	Kadant Inc	Pair Corr
0.58	XMTR	Xometry	Pair Corr
0.57	GHM	Graham	Pair Corr
0.55	NPO	Enpro Industries	Pair Corr
0.55	SXI	Standex International	Pair Corr
0.54	IEX	IDEX	Pair Corr
0.53	ROK	Rockwell Automation	Pair Corr
0.52	GRC	Gorman Rupp	Pair Corr
0.49	GGG	Graco Inc	Pair Corr
0.48	ITW	Illinois Tool Works	Pair Corr
0.47	MWA	Mueller Water Products Sell-off Trend	Pair Corr
0.46	PNR	Pentair PLC	Pair Corr
0.45	JBT	John Bean Technologies	Pair Corr
0.42	SMR	Nuscale Power Corp	Pair Corr
0.4	FLS	Flowserve	Pair Corr
0.36	MIR	Mirion Technologies	Pair Corr
0.31	ITT	ITT Inc	Pair Corr
0.61	GTLS	Chart Industries	Pair Corr
0.56	KRNT	Kornit Digital	Pair Corr

Related Correlations Analysis

	B	BW	CR	HI	IR	PH	RR	ENOV	EPAC	FELE
B		0.75	0.58	0.53	0.74	0.67	-0.74	0.18	0.72	0.54	B
BW	0.75		0.13	0.0	0.46	0.24	-0.58	-0.29	0.34	0.32	BW
CR	0.58	0.13		0.91	0.79	0.96	-0.5	0.81	0.89	0.71	CR
HI	0.53	0.0	0.91		0.71	0.91	-0.33	0.88	0.87	0.66	HI
IR	0.74	0.46	0.79	0.71		0.86	-0.63	0.47	0.76	0.91	IR
PH	0.67	0.24	0.96	0.91	0.86		-0.58	0.77	0.94	0.79	PH
RR	-0.74	-0.58	-0.5	-0.33	-0.63	-0.58		-0.07	-0.58	-0.44	RR
ENOV	0.18	-0.29	0.81	0.88	0.47	0.77	-0.07		0.73	0.5	ENOV
EPAC	0.72	0.34	0.89	0.87	0.76	0.94	-0.58	0.73		0.68	EPAC
FELE	0.54	0.32	0.71	0.66	0.91	0.79	-0.44	0.5	0.68		FELE
	B	BW	CR	HI	IR	PH	RR	ENOV	EPAC	FELE

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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

PH	+ 0.96	CR
EPAC	+ 0.94	PH
HI	+ 0.91	CR
PH	+ 0.91	HI
FELE	+ 0.91	IR
EPAC	+ 0.89	CR

High negative correlations

RR	- 0.74	B
RR	- 0.63	IR
EPAC	- 0.58	RR
RR	- 0.58	PH
RR	- 0.58	BW
RR	- 0.5	CR

Risk-Adjusted Indicators

There is a big difference between MKDWELL Stock performing well and MKDWELL Tech 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 MKDWELL Tech'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
B	0.98	0.40	0.32	1.04	0.23	(1.11)	2.72	(1.13)	13.24
BW	4.73	0.80	0.13	0.63	5.95	(5.54)	11.06	(6.09)	43.30
CR	1.33	0.14	0.08	0.25	1.40	(1.58)	3.44	(2.11)	9.45
HI	2.14	0.13	0.12	0.17	2.18	(2.53)	3.79	(3.92)	16.63
IR	1.10	0.21	0.10	1.24	0.89	(1.29)	3.27	(1.73)	7.21
PH	0.88	0.10	0.16	0.18	0.58	(1.07)	2.18	(1.25)	11.35
RR	5.64	(0.26)	0.00	(0.05)	0.00	0.00	14.52	(8.33)	27.82
ENOV	1.61	(0.07)	0.01	0.07	1.60	(1.91)	3.43	(2.63)	11.30
EPAC	1.24	0.18	0.17	0.23	1.06	(1.47)	2.84	(1.93)	12.71
FELE	1.13	0.16	0.05	0.76	1.31	(1.28)	2.27	(1.54)	11.41

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