Monro Muffler Correlations

MNRO Stock

USD 21.64 0.20 0.92%

The current 90-days correlation between Monro Muffler Brake and Motorcar Parts of is 0.29 (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

Significant diversification

The correlation between Monro Muffler Brake and DJI is 0.05 (i.e., Significant 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	BQ	Boqii Holding Limited	Pair Corr
0.79	FL	Foot Locker	Pair Corr
0.75	LE	Lands End	Pair Corr
0.82	DLTH	Duluth Holdings	Pair Corr
0.74	EDUC	Educational Development	Pair Corr
0.62	FLWS	1 800 FLOWERSCOM	Pair Corr
0.65	AEO	American Eagle Outfitters	Pair Corr
0.61	BBY	Best Buy	Pair Corr

Moving against Monro Stock

0.73	RH	RH	Pair Corr
0.4	EBAY	eBay Inc	Pair Corr
0.32	AN	AutoNation	Pair Corr
0.8	FNKO	Funko Inc	Pair Corr
0.77	DKS	Dicks Sporting Goods	Pair Corr
0.63	DDS	Dillards	Pair Corr
0.59	WRBY	Warby Parker Downward Rally	Pair Corr
0.58	AAP	Advance Auto Parts	Pair Corr
0.58	BBW	Build A Bear	Pair Corr
0.57	ASO	Academy Sports Outdoors	Pair Corr
0.42	FIVE	Five Below	Pair Corr
0.4	AZO	AutoZone	Pair Corr
0.37	BKE	Buckle Inc	Pair Corr

Related Correlations Analysis

	MPAA	SMP	SRI	PLOW	DORM	SUP	THRM	CPS	GNTX	FOXF
MPAA		0.27	-0.65	-0.04	0.59	-0.82	-0.35	0.15	-0.21	-0.69	MPAA
SMP	0.27		-0.25	0.19	0.76	-0.06	0.68	0.77	0.49	-0.11	SMP
SRI	-0.65	-0.25		0.53	-0.64	0.89	0.31	-0.24	0.4	0.96	SRI
PLOW	-0.04	0.19	0.53		0.0	0.45	0.32	0.17	0.31	0.54	PLOW
DORM	0.59	0.76	-0.64	0.0		-0.48	0.35	0.7	0.25	-0.55	DORM
SUP	-0.82	-0.06	0.89	0.45	-0.48		0.57	-0.03	0.51	0.94	SUP
THRM	-0.35	0.68	0.31	0.32	0.35	0.57		0.6	0.71	0.46	THRM
CPS	0.15	0.77	-0.24	0.17	0.7	-0.03	0.6		0.4	-0.16	CPS
GNTX	-0.21	0.49	0.4	0.31	0.25	0.51	0.71	0.4		0.47	GNTX
FOXF	-0.69	-0.11	0.96	0.54	-0.55	0.94	0.46	-0.16	0.47		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

FOXF	+ 0.96	SRI
FOXF	+ 0.94	SUP
SUP	+ 0.89	SRI
CPS	+ 0.77	SMP
DORM	+ 0.76	SMP
GNTX	+ 0.71	THRM

High negative correlations

SUP	- 0.82	MPAA
FOXF	- 0.69	MPAA
SRI	- 0.65	MPAA
DORM	- 0.64	SRI
FOXF	- 0.55	DORM
SUP	- 0.48	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	2.80	0.26	0.09	0.29	2.78	(3.45)	6.21	(5.00)	22.33
SMP	1.68	0.07	0.04	0.26	1.85	(1.99)	3.02	(3.41)	24.56
SRI	2.99	(0.73)	0.00	(1.67)	0.00	0.00	5.26	(6.52)	30.05
PLOW	1.41	(0.08)	0.00	(0.15)	0.00	0.00	2.40	(2.99)	13.92
DORM	1.41	0.22	0.14	0.29	1.35	(1.58)	2.98	(2.61)	15.36
SUP	2.31	(0.52)	0.00	(0.75)	0.00	0.00	4.48	(5.78)	13.87
THRM	1.21	(0.11)	0.00	(0.92)	0.00	0.00	1.91	(2.55)	7.18
CPS	2.52	0.27	0.08	0.44	3.09	(2.64)	4.84	(6.64)	24.57
GNTX	0.99	(0.09)	0.00	(0.30)	0.00	0.00	1.75	(2.06)	7.93
FOXF	1.97	(0.50)	0.00	(1.60)	0.00	0.00	3.31	(4.97)	10.26

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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