MarineMax Correlations

Stocks . Germany . 
Stock . MarineMax
MLW Stock  EUR 23.78  0.42  1.74%   
The current 90-days correlation between MarineMax and Waters is 0.39 (i.e., Weak diversification). The correlation of MarineMax 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.

MarineMax Correlation With Market

Very poor diversification

The correlation between MarineMax and DJI is 0.82 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MarineMax and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to MarineMax could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace MarineMax when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back MarineMax - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling MarineMax to buy it.

Moving together with MarineMax Stock

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Moving against MarineMax Stock

  0.65K9R KENEDIX OFFICE INVPairCorr
  0.61JUA Japan Real EstatePairCorr
  0.49O2F ORIX JREIT INCPairCorr
  0.358LU TAURUS ENERGY ABPairCorr
  0.76DBPD Xtrackers ShortDAXPairCorr
  0.53777 EUROSPORTS GLOBAL LTDPairCorr

Related Correlations Analysis


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

34U
+ 0.86
YAR
54E
+ 0.77
34U
54E
+ 0.55
YAR
54E
+ 0.52
FQI
YAR
+ 0.45
AOS
AOS
+ 0.44
WAZ
  

High negative correlations

54E
- 0.7
WAZ
FQI
- 0.47
WAZ
34U
- 0.32
WAZ
54E
- 0.29
AOS
FQI
- 0.25
AOS
YAR
- 0.17
WAZ

Risk-Adjusted Indicators

There is a big difference between MarineMax Stock performing well and MarineMax 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 MarineMax'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in MarineMax without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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MarineMax Corporate Management

Elected by the shareholders, the MarineMax's board of directors comprises two types of representatives: MarineMax inside directors who are chosen from within the company, and outside directors, selected externally and held independent of MarineMax. The board's role is to monitor MarineMax's management team and ensure that shareholders' interests are well served. MarineMax's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, MarineMax's outside directors are responsible for providing unbiased perspectives on the board's policies.
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