Manitowoc Correlations

MTW Stock

USD 12.70 0.40 3.05%

The current 90-days correlation between Manitowoc and Wabash National is 0.54 (i.e., Very weak 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

Very poor diversification

The correlation between Manitowoc and DJI is 0.88 (i.e., Very poor 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 producer price index.

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

Moving together with Manitowoc Stock

0.79	CAT	Caterpillar Earnings Call Tomorrow	Pair Corr
0.88	CMI	Cummins Earnings Call This Week	Pair Corr
0.94	PCAR	PACCAR Inc	Pair Corr
0.82	PPERF	Bank Mandiri Persero	Pair Corr
0.87	DCI	Donaldson	Pair Corr
0.87	MARUF	Marubeni Earnings Call This Week	Pair Corr
0.78	SEBC	Southeastern Banking Corp	Pair Corr
0.76	AEM	Agnico Eagle Mines	Pair Corr
0.77	FTCI	FTC Solar	Pair Corr
0.87	SBSW	Sibanye Gold	Pair Corr
0.83	EGP	EastGroup Properties	Pair Corr
0.8	YASKY	Yaskawa Electric Corp	Pair Corr
0.86	CNOB	ConnectOne Bancorp Earnings Call Tomorrow	Pair Corr
0.79	BKKLY	Bangkok Bank PCL	Pair Corr

Moving against Manitowoc Stock

0.84	PBCRY	Bank Central Asia	Pair Corr
0.74	FLD	Fold Holdings Class Symbol Change	Pair Corr
0.63	GRLF	Green Leaf Innovations	Pair Corr
0.51	BKRKF	PT Bank Rakyat	Pair Corr
0.47	PBCRF	PT Bank Central	Pair Corr
0.43	BLBD	Blue Bird Corp Earnings Call This Week	Pair Corr
0.42	PTAIF	PT Astra International	Pair Corr

Related Correlations Analysis

	WNC	ACCO	JELD	MEC	PKOH	SBC	GWAV	LXFR	KNOP	BW
WNC		0.79	0.11	0.68	0.9	0.82	-0.36	0.89	0.62	0.53	WNC
ACCO	0.79		0.57	0.64	0.74	0.74	-0.09	0.85	0.2	0.14	ACCO
JELD	0.11	0.57		0.02	0.08	-0.02	0.5	0.15	-0.57	-0.51	JELD
MEC	0.68	0.64	0.02		0.7	0.82	-0.41	0.76	0.6	0.3	MEC
PKOH	0.9	0.74	0.08	0.7		0.78	-0.28	0.83	0.66	0.44	PKOH
SBC	0.82	0.74	-0.02	0.82	0.78		-0.46	0.88	0.64	0.39	SBC
GWAV	-0.36	-0.09	0.5	-0.41	-0.28	-0.46		-0.4	-0.58	-0.57	GWAV
LXFR	0.89	0.85	0.15	0.76	0.83	0.88	-0.4		0.59	0.53	LXFR
KNOP	0.62	0.2	-0.57	0.6	0.66	0.64	-0.58	0.59		0.67	KNOP
BW	0.53	0.14	-0.51	0.3	0.44	0.39	-0.57	0.53	0.67		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

PKOH	+ 0.9	WNC
LXFR	+ 0.89	WNC
LXFR	+ 0.88	SBC
LXFR	+ 0.85	ACCO
LXFR	+ 0.83	PKOH
SBC	+ 0.82	WNC

High negative correlations

KNOP	- 0.58	GWAV
BW	- 0.57	GWAV
KNOP	- 0.57	JELD
BW	- 0.51	JELD
GWAV	- 0.46	SBC
GWAV	- 0.41	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	2.20	0.06	0.05	0.10	2.16	(2.79)	5.40	(3.78)	16.28
ACCO	1.49	(0.08)	(0.03)	0.00	2.08	(1.55)	3.25	(3.17)	9.71
JELD	4.10	(0.82)	0.00	(0.16)	0.00	0.00	9.36	(10.14)	32.15
MEC	2.22	0.13	0.05	0.19	2.59	(2.73)	5.19	(3.38)	13.94
PKOH	1.89	0.04	0.03	0.09	2.48	(2.05)	4.77	(3.60)	14.74
SBC	2.40	0.07	0.04	0.11	2.87	(2.84)	6.43	(5.09)	16.73
GWAV	5.89	(0.77)	0.00	(0.21)	0.00	0.00	13.98	(11.16)	34.22
LXFR	1.31	0.15	0.08	0.21	1.57	(1.39)	2.92	(2.67)	8.45
KNOP	1.44	0.31	0.17	207.34	1.06	(1.79)	4.31	(2.13)	12.63
BW	5.10	1.95	0.34	1.10	4.57	(5.88)	13.18	(7.60)	44.19

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