Manitowoc Correlations

MTW Stock

USD 14.15 0.13 0.91%

The current 90-days correlation between Manitowoc and Wabash National is 0.6 (i.e., Poor diversification). The correlation of Manitowoc 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.

Manitowoc Correlation With Market

Almost no diversification

The correlation between Manitowoc and DJI is 0.93 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Manitowoc and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Manitowoc Stock

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

For more information on how to buy Manitowoc Stock please use our How to Invest in Manitowoc guide.

Moving together with Manitowoc Stock

0.74	DCO	Deere Company	Pair Corr
0.66	VELO	Velo3D Upward Rally	Pair Corr
0.69	KOMA	KOMATSU LTD SPONS	Pair Corr
0.91	PFI	Palfinger AG	Pair Corr
0.93	WA9	Wabash National	Pair Corr
0.73	ROI	Rosenbauer International	Pair Corr
0.76	37C	CNH Industrial NV	Pair Corr
0.65	WPRT	Westport Fuel Systems	Pair Corr
0.89	TXG	Terex	Pair Corr
0.67	1RG	REV Group	Pair Corr
0.63	K34	Konecranes Plc	Pair Corr
0.68	KOM1	Komatsu	Pair Corr
0.91	ALG	Alamo Group	Pair Corr
0.84	CAT	Caterpillar	Pair Corr
0.88	CMI	Cummins	Pair Corr
0.79	CYD	China Yuchai Interna Earnings Call This Week	Pair Corr
0.73	FSS	Federal Signal	Pair Corr
0.89	GBX	Greenbrier Companies	Pair Corr
0.86	MLR	Miller Industries	Pair Corr
0.9	OSK	Oshkosh	Pair Corr
0.92	TEX	Terex Sell-off Trend	Pair Corr
0.78	TRN	Trinity Industries	Pair Corr
0.97	MNGN	Manitowoc	Pair Corr
0.9	WAB	Westinghouse Air Brake	Pair Corr
0.93	WNC	Wabash National	Pair Corr
0.83	X5Q	COMER INDS SPA	Pair Corr
0.83	TZ4	Titan International Earnings Call This Week	Pair Corr
0.75	HCMA	HITACHI CONSTRMACHADR/2	Pair Corr

Moving against Manitowoc Stock

0.35	BNC	CEA Industries Symbol Change	Pair Corr
0.34	2W1	WIELTON SA ZY	Pair Corr
0.32	RPM	RPM Automotive Group Earnings Call This Week	Pair Corr
0.82	FLD	Fold Holdings Class Symbol Change	Pair Corr
0.81	HCAI	Huachen AI Parking	Pair Corr
0.5	GWPD	GP Solutions	Pair Corr

Related Correlations Analysis

	WNC	ACCO	JELD	MEC	PKOH	SBC	GWAV	LXFR	KNOP	BW
WNC		0.93	0.54	0.86	0.92	0.8	-0.63	0.91	0.6	0.72	WNC
ACCO	0.93		0.63	0.88	0.85	0.91	-0.63	0.96	0.69	0.66	ACCO
JELD	0.54	0.63		0.39	0.39	0.54	-0.12	0.58	0.56	0.27	JELD
MEC	0.86	0.88	0.39		0.85	0.85	-0.61	0.88	0.56	0.59	MEC
PKOH	0.92	0.85	0.39	0.85		0.7	-0.55	0.82	0.45	0.61	PKOH
SBC	0.8	0.91	0.54	0.85	0.7		-0.61	0.89	0.67	0.47	SBC
GWAV	-0.63	-0.63	-0.12	-0.61	-0.55	-0.61		-0.67	-0.24	-0.61	GWAV
LXFR	0.91	0.96	0.58	0.88	0.82	0.89	-0.67		0.68	0.76	LXFR
KNOP	0.6	0.69	0.56	0.56	0.45	0.67	-0.24	0.68		0.37	KNOP
BW	0.72	0.66	0.27	0.59	0.61	0.47	-0.61	0.76	0.37		BW
	WNC	ACCO	JELD	MEC	PKOH	SBC	GWAV	LXFR	KNOP	BW

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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

LXFR	+ 0.96	ACCO
ACCO	+ 0.93	WNC
PKOH	+ 0.92	WNC
LXFR	+ 0.91	WNC
SBC	+ 0.91	ACCO
LXFR	+ 0.89	SBC

High negative correlations

LXFR	- 0.67	GWAV
GWAV	- 0.63	ACCO
GWAV	- 0.63	WNC
BW	- 0.61	GWAV
GWAV	- 0.61	SBC
GWAV	- 0.61	MEC

Risk-Adjusted Indicators

There is a big difference between Manitowoc Stock performing well and Manitowoc 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 Manitowoc'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
WNC	2.34	0.61	0.27	0.36	2.02	(2.93)	6.11	(3.78)	16.28
ACCO	1.33	0.30	0.18	0.31	1.22	(1.52)	3.25	(2.48)	7.18
JELD	4.41	0.22	0.06	0.10	4.78	(5.95)	13.64	(10.14)	33.28
MEC	2.34	0.34	0.16	0.27	2.03	(3.07)	5.19	(3.26)	11.91
PKOH	1.94	0.46	0.20	0.44	1.88	(2.19)	5.26	(3.57)	10.51
SBC	2.40	0.37	0.14	0.27	2.57	(2.99)	6.78	(4.80)	17.06
GWAV	5.26	(0.78)	0.00	(0.28)	0.00	0.00	12.20	(10.02)	27.97
LXFR	1.18	0.33	0.23	0.31	0.98	(1.37)	2.92	(2.51)	6.05
KNOP	1.28	0.11	0.05	0.91	1.25	(1.44)	4.00	(2.13)	8.88
BW	4.51	0.57	0.09	0.31	5.73	(4.62)	10.72	(8.36)	45.75

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