Douglas Dynamics Correlations

PLOW Stock

USD 25.66 0.11 0.43%

The current 90-days correlation between Douglas Dynamics and Monro Muffler Brake is 0.4 (i.e., Very weak diversification). The correlation of Douglas Dynamics 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.

Douglas Dynamics Correlation With Market

Weak diversification

The correlation between Douglas Dynamics and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Douglas Dynamics 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 Douglas Dynamics. 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 Douglas Stock please use our How to Invest in Douglas Dynamics guide.

Moving together with Douglas Stock

0.78	WPRT	Westport Fuel Systems	Pair Corr
0.65	GBX	Greenbrier Companies	Pair Corr
0.63	GFF	Griffon	Pair Corr
0.68	TRN	Trinity Industries Earnings Call This Week	Pair Corr
0.72	VMI	Valmont Industries Earnings Call This Week	Pair Corr
0.76	WAB	Westinghouse Air Brake	Pair Corr
0.65	DRVN	Driven Brands Holdings Earnings Call This Week	Pair Corr

Moving against Douglas Stock

0.46	SOL	Emeren Group	Pair Corr
0.39	MVSTW	Microvast Holdings	Pair Corr
0.33	MVST	Microvast Holdings Aggressive Push	Pair Corr
0.61	SHLS	Shoals Technologies	Pair Corr
0.56	HYZNW	HYZON Motors	Pair Corr
0.52	SLDP	Solid Power	Pair Corr
0.34	FIGS	Figs Inc	Pair Corr

Related Correlations Analysis

	MNRO	MPAA	SMP	SRI	DORM	VC	LEA	FOXF	LKQ
MNRO		0.18	0.78	0.93	0.76	0.9	0.4	0.95	0.33	MNRO
MPAA	0.18		0.1	0.17	0.1	0.27	0.32	0.08	0.06	MPAA
SMP	0.78	0.1		0.75	0.87	0.87	0.73	0.8	0.66	SMP
SRI	0.93	0.17	0.75		0.75	0.92	0.39	0.95	0.34	SRI
DORM	0.76	0.1	0.87	0.75		0.87	0.64	0.79	0.6	DORM
VC	0.9	0.27	0.87	0.92	0.87		0.63	0.91	0.53	VC
LEA	0.4	0.32	0.73	0.39	0.64	0.63		0.43	0.73	LEA
FOXF	0.95	0.08	0.8	0.95	0.79	0.91	0.43		0.4	FOXF
LKQ	0.33	0.06	0.66	0.34	0.6	0.53	0.73	0.4		LKQ
	MNRO	MPAA	SMP	SRI	DORM	VC	LEA	FOXF	LKQ

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Risk-Adjusted Indicators

There is a big difference between Douglas Stock performing well and Douglas Dynamics 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 Douglas Dynamics' 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
MNRO	1.61	(0.58)	0.00	(1.18)	0.00	0.00	3.03	(4.20)	12.28
MPAA	3.52	0.72	0.21	0.72	3.11	(4.23)	10.61	(5.27)	22.33
SMP	1.16	(0.17)	0.00	(0.24)	0.00	0.00	1.89	(2.06)	6.68
SRI	2.98	(0.73)	0.00	(0.49)	0.00	0.00	5.25	(6.54)	21.96
DORM	1.08	(0.13)	0.00	(0.16)	0.00	0.00	1.81	(2.12)	5.11
VC	1.36	(0.15)	0.00	(0.16)	0.00	0.00	2.13	(3.23)	8.76
LEA	1.27	0.01	0.01	0.02	1.84	(1.15)	2.31	(2.86)	7.29
FOXF	1.92	(0.40)	0.00	(0.73)	0.00	0.00	3.00	(4.37)	9.53
LKQ	1.10	0.04	0.03	0.08	1.28	(1.18)	2.19	(2.22)	5.95

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