Monro Muffler Correlations

MNRO Stock

USD 19.76 0.31 1.54%

The current 90-days correlation between Monro Muffler Brake and Miller Industries is 0.26 (i.e., Modest 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.

Build AI portfolio with Monro Stock

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 real.

Moving together with Monro Stock

0.68	MRE	Martinrea International Earnings Call Today	Pair Corr
0.65	IXD1	Industria de Diseno Earnings Call This Week	Pair Corr
0.73	RUN	RUSH ENTERPRISES B	Pair Corr

Moving against Monro Stock

0.47	EVGO	Evgo Inc Earnings Call This Week	Pair Corr
0.47	GPI	Group 1 Automotive	Pair Corr
0.39	AN	AutoNation	Pair Corr
0.37	LAD	Lithia Motors	Pair Corr
0.62	CFYN	Caffyns PLC	Pair Corr
0.55	PWR	Peter Warren Automotive	Pair Corr
0.51	MTO	Motorcycle Holdings	Pair Corr
0.48	JZXN	Jiuzi Holdings Buyout Trend	Pair Corr
0.35	APE	Eagers Automotive	Pair Corr
0.33	1CY	China Yongda Automobiles	Pair Corr
0.31	LMO	Lithia Motors	Pair Corr
0.31	1X4	MOTORPOINT GRP WI	Pair Corr
0.52	0C6	CarGurus	Pair Corr
0.5	NAAS	Naas Technology ADR	Pair Corr
0.47	AG1	AUTO1 Group SE	Pair Corr
0.41	RWI	AutoNation	Pair Corr

Related Correlations Analysis

	INVZ	MLR	AIIO	HYLN	VENU	CPS	KFS	PACK	HLLY	ZKH
INVZ		-0.62	0.84	-0.33	0.8	-0.57	-0.02	-0.05	0.31	-0.63	INVZ
MLR	-0.62		-0.77	0.57	-0.81	0.61	-0.2	0.11	-0.28	0.35	MLR
AIIO	0.84	-0.77		-0.56	0.8	-0.65	0.07	-0.31	0.31	-0.61	AIIO
HYLN	-0.33	0.57	-0.56		-0.35	0.13	0.25	0.2	-0.25	0.28	HYLN
VENU	0.8	-0.81	0.8	-0.35		-0.67	0.24	0.01	0.34	-0.46	VENU
CPS	-0.57	0.61	-0.65	0.13	-0.67		-0.53	0.25	0.0	0.43	CPS
KFS	-0.02	-0.2	0.07	0.25	0.24	-0.53		0.05	0.07	0.03	KFS
PACK	-0.05	0.11	-0.31	0.2	0.01	0.25	0.05		0.06	0.27	PACK
HLLY	0.31	-0.28	0.31	-0.25	0.34	0.0	0.07	0.06		0.12	HLLY
ZKH	-0.63	0.35	-0.61	0.28	-0.46	0.43	0.03	0.27	0.12		ZKH
	INVZ	MLR	AIIO	HYLN	VENU	CPS	KFS	PACK	HLLY	ZKH

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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

AIIO	+ 0.84	INVZ
VENU	+ 0.8	INVZ
VENU	+ 0.8	AIIO
CPS	+ 0.61	MLR
HYLN	+ 0.57	MLR
ZKH	+ 0.43	CPS

High negative correlations

VENU	- 0.81	MLR
AIIO	- 0.77	MLR
CPS	- 0.67	VENU
CPS	- 0.65	AIIO
ZKH	- 0.63	INVZ
MLR	- 0.62	INVZ

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
INVZ	3.57	(0.51)	0.00	(0.11)	0.00	0.00	7.26	(6.61)	34.74
MLR	1.31	0.20	0.14	0.19	1.24	(1.47)	2.60	(2.31)	6.53
AIIO	5.44	(2.15)	0.00	(97.97)	0.00	0.00	8.33	(12.00)	42.66
HYLN	3.29	0.12	0.04	0.08	3.83	(3.51)	6.47	(5.15)	21.40
VENU	4.73	(0.78)	0.00	(0.27)	0.00	0.00	8.12	(9.64)	53.50
CPS	2.43	0.27	0.09	0.30	2.75	(2.73)	5.06	(4.58)	43.06
KFS	1.73	(0.15)	0.00	(0.11)	0.00	0.00	2.90	(3.70)	20.86
PACK	2.56	0.07	0.05	0.06	2.53	(3.20)	4.96	(4.51)	22.47
HLLY	1.93	(0.30)	0.00	(0.27)	0.00	0.00	4.40	(4.42)	11.37
ZKH	1.73	0.06	0.01	0.56	2.80	(2.19)	3.66	(3.89)	25.66

Monro Muffler Corporate Management

John Heisman	Vice Resources	Profile
Matt Henson	Executive Officer	Profile
Tim Ferrell	Vice Marketing	Profile
Russ Welsh	North Operations	Profile

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