Monro Muffler Correlations

MNRO Stock

USD 27.04 0.31 1.16%

The current 90-days correlation between Monro Muffler Brake and Motorcar Parts of is 0.33 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Monro Muffler moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Monro Muffler Brake moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Monro Muffler Correlation With Market

Very weak diversification

The correlation between Monro Muffler Brake and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Monro Muffler Brake 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 Monro Muffler Brake. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Monro Stock

0.65	HD	Home Depot	Pair Corr
0.69	WEYS	Weyco Group	Pair Corr
0.66	ABG	Asbury Automotive	Pair Corr
0.72	LAD	Lithia Motors	Pair Corr
0.64	TTSH	Tile Shop Holdings	Pair Corr
0.63	URBN	Urban Outfitters Earnings Call Tomorrow	Pair Corr
0.66	BC	Brunswick	Pair Corr
0.77	DIN	Dine Brands Global	Pair Corr
0.71	DPZ	Dominos Pizza	Pair Corr
0.68	DRI	Darden Restaurants	Pair Corr

Moving against Monro Stock

0.35	HVT	Haverty Furniture	Pair Corr
0.31	ARHS	Arhaus Inc	Pair Corr
0.59	LNW	Light Wonder	Pair Corr
0.39	LEA	Lear	Pair Corr
0.31	IGT	International Game	Pair Corr

Related Correlations Analysis

	MPAA	SMP	SRI	PLOW	DORM	SUP	THRM	CPS	GNTX	FOXF
MPAA		0.32	0.09	0.44	0.11	0.05	0.29	0.25	-0.05	0.11	MPAA
SMP	0.32		-0.13	0.06	0.51	-0.22	0.42	0.47	0.13	-0.13	SMP
SRI	0.09	-0.13		0.77	-0.78	0.9	0.76	-0.06	0.08	0.77	SRI
PLOW	0.44	0.06	0.77		-0.56	0.64	0.62	-0.05	-0.17	0.78	PLOW
DORM	0.11	0.51	-0.78	-0.56		-0.73	-0.28	0.51	0.18	-0.77	DORM
SUP	0.05	-0.22	0.9	0.64	-0.73		0.65	0.11	0.24	0.7	SUP
THRM	0.29	0.42	0.76	0.62	-0.28	0.65		0.34	0.28	0.48	THRM
CPS	0.25	0.47	-0.06	-0.05	0.51	0.11	0.34		0.54	-0.31	CPS
GNTX	-0.05	0.13	0.08	-0.17	0.18	0.24	0.28	0.54		-0.05	GNTX
FOXF	0.11	-0.13	0.77	0.78	-0.77	0.7	0.48	-0.31	-0.05		FOXF
	MPAA	SMP	SRI	PLOW	DORM	SUP	THRM	CPS	GNTX	FOXF

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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

SUP	+ 0.9	SRI
FOXF	+ 0.78	PLOW
PLOW	+ 0.77	SRI
FOXF	+ 0.77	SRI
THRM	+ 0.76	SRI
FOXF	+ 0.7	SUP

High negative correlations

DORM	- 0.78	SRI
FOXF	- 0.77	DORM
SUP	- 0.73	DORM
DORM	- 0.56	PLOW
FOXF	- 0.31	CPS
THRM	- 0.28	DORM

Risk-Adjusted Indicators

There is a big difference between Monro Stock performing well and Monro Muffler 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 Monro Muffler'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
MPAA	2.96	(0.05)	0.00	0.09	3.47	(3.28)	8.38	(6.22)	19.99
SMP	1.77	(0.05)	0.01	0.09	1.91	(1.98)	3.71	(3.41)	24.56
SRI	2.83	(1.33)	0.00	(0.32)	0.00	0.00	5.25	(6.29)	30.14
PLOW	1.37	(0.31)	0.00	(0.06)	0.00	0.00	2.14	(2.06)	16.25
DORM	1.32	0.28	0.21	0.44	0.91	(1.63)	3.10	(2.03)	14.67
SUP	2.04	(0.75)	0.00	(0.40)	0.00	0.00	3.62	(5.26)	12.77
THRM	1.52	(0.32)	0.00	(0.13)	0.00	0.00	3.27	(3.33)	8.02
CPS	2.68	(0.32)	0.00	(0.01)	0.00	0.00	5.54	(6.64)	24.31
GNTX	1.14	(0.08)	(0.08)	0.01	1.45	(1.15)	2.33	(2.36)	7.93
FOXF	1.95	(0.52)	0.00	(0.14)	0.00	0.00	3.80	(4.37)	15.31

Monro Muffler Corporate Management

Matt Henson	Executive Officer	Profile
Russ Welsh	North Operations	Profile
Daniel Tripoli	VP North	Profile
Cindy Donovan	Senior Officer	Profile

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