Onewater Marine Correlations

ONEW Stock

USD 17.46 0.54 3.00%

The current 90-days correlation between Onewater Marine and LCI Industries is 0.17 (i.e., Average diversification). The correlation of Onewater Marine 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.

Onewater Marine Correlation With Market

Modest diversification

The correlation between Onewater Marine and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Onewater Marine and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Onewater Marine. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.

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

Moving together with Onewater Stock

0.66	EYE	National Vision Holdings	Pair Corr
0.66	GPC	Genuine Parts	Pair Corr
0.66	LAD	Lithia Motors	Pair Corr

Moving against Onewater Stock

0.67	FNKO	Funko Inc	Pair Corr
0.52	ASO	Academy Sports Outdoors	Pair Corr
0.44	RH	RH	Pair Corr
0.35	GLBE	Global E Online	Pair Corr
0.58	MOGU	MOGU Inc	Pair Corr
0.57	TM	Toyota Motor	Pair Corr
0.53	GV	Visionary Education	Pair Corr
0.48	HOUR	Hour Loop	Pair Corr
0.48	DOOO	BRP Inc	Pair Corr
0.38	TH	Target Hospitality Corp	Pair Corr
0.33	CHWY	Chewy Inc	Pair Corr
0.32	BH	Biglari Holdings	Pair Corr

Related Correlations Analysis

	LCII	MCFT	DOOO	MBUU	WGO	BC	MPX	VEEE	CMOT
LCII		0.69	-0.39	0.9	0.75	0.89	0.9	0.16	-0.39	LCII
MCFT	0.69		-0.46	0.6	0.88	0.56	0.84	-0.08	-0.32	MCFT
DOOO	-0.39	-0.46		-0.45	-0.54	-0.52	-0.55	-0.03	0.32	DOOO
MBUU	0.9	0.6	-0.45		0.69	0.9	0.84	0.28	-0.39	MBUU
WGO	0.75	0.88	-0.54	0.69		0.72	0.85	0.06	-0.35	WGO
BC	0.89	0.56	-0.52	0.9	0.72		0.83	0.38	-0.37	BC
MPX	0.9	0.84	-0.55	0.84	0.85	0.83		0.12	-0.34	MPX
VEEE	0.16	-0.08	-0.03	0.28	0.06	0.38	0.12		-0.16	VEEE
CMOT	-0.39	-0.32	0.32	-0.39	-0.35	-0.37	-0.34	-0.16		CMOT
	LCII	MCFT	DOOO	MBUU	WGO	BC	MPX	VEEE	CMOT

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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

MBUU	+ 0.9	LCII
MPX	+ 0.9	LCII
BC	+ 0.9	MBUU
BC	+ 0.89	LCII
WGO	+ 0.88	MCFT
MPX	+ 0.85	WGO

High negative correlations

MPX	- 0.55	DOOO
WGO	- 0.54	DOOO
BC	- 0.52	DOOO
DOOO	- 0.46	MCFT
MBUU	- 0.45	DOOO
CMOT	- 0.39	MBUU

Risk-Adjusted Indicators

There is a big difference between Onewater Stock performing well and Onewater Marine 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 Onewater Marine'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
LCII	1.54	(0.13)	0.00	(0.09)	0.00	0.00	3.85	(3.73)	9.26
MCFT	1.90	0.15	0.05	0.38	1.89	(2.28)	2.89	(3.53)	29.31
DOOO	1.71	(0.08)	0.00	(0.33)	0.00	0.00	3.49	(3.89)	11.25
MBUU	1.95	(0.14)	0.00	(0.06)	0.00	0.00	3.97	(4.37)	13.09
WGO	1.85	(0.48)	0.00	(0.95)	0.00	0.00	3.67	(3.97)	12.12
BC	1.47	(0.31)	0.00	(0.35)	0.00	0.00	3.37	(2.82)	11.27
MPX	1.40	(0.02)	(0.02)	0.04	1.61	(1.58)	3.01	(2.75)	9.29
VEEE	5.96	0.06	0.00	0.19	6.30	(10.46)	16.67	(10.20)	76.41
CMOT	21.44	7.70	0.00	5.78	0.00	0.00	94.03	(60.00)	366.25

Onewater Marine Corporate Executives

Elected by the shareholders, the Onewater Marine's board of directors comprises two types of representatives: Onewater Marine inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Onewater. The board's role is to monitor Onewater Marine's management team and ensure that shareholders' interests are well served. Onewater Marine's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Onewater Marine's outside directors are responsible for providing unbiased perspectives on the board's policies.

Jack Ezzell

CFO Secretary

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