Douglas Dynamics Correlations

PLOW Stock

USD 40.79 0.34 0.84%

The current 90-days correlation between Douglas Dynamics and Gogoro Inc is 0.1 (i.e., Average 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

Very poor diversification

The correlation between Douglas Dynamics and DJI is 0.89 (i.e., Very poor 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.

Build AI portfolio with Douglas Stock

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 employment.

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

Moving together with Douglas Stock

0.72	VELO	Velo3D	Pair Corr
0.63	WPRT	Westport Fuel Systems	Pair Corr
0.96	ALG	Alamo Group	Pair Corr
0.93	CAT	Caterpillar	Pair Corr
0.94	CMI	Cummins	Pair Corr
0.89	CYD	China Yuchai Interna	Pair Corr
0.96	GBX	Greenbrier Companies	Pair Corr
0.9	MLR	Miller Industries	Pair Corr
0.92	MTW	Manitowoc Earnings Call Tomorrow	Pair Corr
0.96	OSK	Oshkosh	Pair Corr
0.93	TEX	Terex	Pair Corr
0.98	WAB	Westinghouse Air Brake Earnings Call Next Week	Pair Corr
0.92	WNC	Wabash National	Pair Corr
0.81	6WW	WIMFARM SA EO	Pair Corr
0.75	PIG	Haulotte Group SA	Pair Corr
0.96	PCAR	PACCAR Inc Sell-off Trend	Pair Corr
0.79	HCM	Hitachi Construction	Pair Corr
0.85	REVG	Rev Group	Pair Corr
0.95	ALSN	Allison Transmission Earnings Call Next Week	Pair Corr
0.92	ASTE	Astec Industries	Pair Corr
0.66	ELVN	Enliven Therapeutics	Pair Corr
0.75	ENDMF	Enduro Metals	Pair Corr
0.82	ISSC	Innovative Solutions and Earnings Call Tomorrow	Pair Corr
0.91	FIBK	First Interstate Ban	Pair Corr
0.93	THO	Thor Industries	Pair Corr

Moving against Douglas Stock

0.77	HCAI	Huachen AI Parking	Pair Corr
0.42	GP	GreenPower Motor	Pair Corr
0.41	BNC	CEA Industries Symbol Change	Pair Corr
0.36	ALH	Alliance Laundry Holdings	Pair Corr
0.74	BROGF	BROGF	Pair Corr
0.32	IVVD	Invivyd Buyout Trend	Pair Corr

Related Correlations Analysis

	GGR	FRSX	STKS	VRA	CNTY	NCL	SYPR	LCUT
GGR		0.87	-0.44	-0.29	-0.05	0.83	-0.67	0.03	GGR
FRSX	0.87		-0.52	-0.09	0.06	0.93	-0.83	-0.06	FRSX
STKS	-0.44	-0.52		0.42	0.45	-0.53	0.72	0.08	STKS
VRA	-0.29	-0.09	0.42		0.36	-0.15	0.2	-0.17	VRA
CNTY	-0.05	0.06	0.45	0.36		0.18	0.24	-0.5	CNTY
NCL	0.83	0.93	-0.53	-0.15	0.18		-0.79	-0.17	NCL
SYPR	-0.67	-0.83	0.72	0.2	0.24	-0.79		-0.12	SYPR
LCUT	0.03	-0.06	0.08	-0.17	-0.5	-0.17	-0.12		LCUT
	GGR	FRSX	STKS	VRA	CNTY	NCL	SYPR	LCUT

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

NCL	+ 0.93	FRSX
FRSX	+ 0.87	GGR
NCL	+ 0.83	GGR
SYPR	+ 0.72	STKS
CNTY	+ 0.45	STKS
VRA	+ 0.42	STKS

High negative correlations

SYPR	- 0.83	FRSX
SYPR	- 0.79	NCL
SYPR	- 0.67	GGR
NCL	- 0.53	STKS
STKS	- 0.52	FRSX
LCUT	- 0.5	CNTY

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
GGR	2.76	(0.36)	0.00	(0.31)	0.00	0.00	6.17	(5.33)	20.86
FRSX	3.11	(1.49)	0.00	(0.49)	0.00	0.00	4.39	(9.57)	35.97
STKS	2.74	0.00	0.00	0.08	3.17	(3.34)	5.75	(5.69)	28.79
VRA	4.61	0.22	0.03	0.40	5.50	(5.53)	10.47	(7.17)	35.49
CNTY	2.95	(0.21)	0.00	1.51	0.00	0.00	6.99	(6.54)	20.05
NCL	7.34	(1.32)	0.00	(0.50)	0.00	0.00	11.76	(13.04)	81.07
SYPR	4.53	0.91	0.15	(0.89)	4.13	(5.60)	13.27	(8.28)	33.25
LCUT	2.36	0.15	0.04	0.32	2.69	(2.73)	5.50	(4.39)	17.13

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