LS Starrett Correlations

Summary

SCXDelisted Stock

USD 12.50 0.94 8.13%

The current 90-days correlation between LS Starrett and Eastern Co is -0.01 (i.e., Good diversification). The correlation of LS Starrett 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.

LS Starrett Correlation With Market

Significant diversification

The correlation between LS Starrett and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding LS Starrett and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving against SCX Stock

0.61	LNDNF	Lundin Energy AB	Pair Corr
0.52	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.51	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr
0.39	KO	Coca Cola Aggressive Push	Pair Corr
0.31	AWCMY	Alumina Limited PK	Pair Corr

Related Correlations Analysis

	EML	TKR	LECO	HLMN	KMT	PFIN	SKFRY	MKTAY
EML		0.79	-0.31	0.04	-0.55	0.04	0.19	-0.34	EML
TKR	0.79		-0.25	-0.16	-0.57	-0.21	0.17	-0.41	TKR
LECO	-0.31	-0.25		0.67	0.83	0.61	0.5	0.58	LECO
HLMN	0.04	-0.16	0.67		0.66	0.81	0.47	0.51	HLMN
KMT	-0.55	-0.57	0.83	0.66		0.55	0.36	0.52	KMT
PFIN	0.04	-0.21	0.61	0.81	0.55		0.44	0.61	PFIN
SKFRY	0.19	0.17	0.5	0.47	0.36	0.44		0.27	SKFRY
MKTAY	-0.34	-0.41	0.58	0.51	0.52	0.61	0.27		MKTAY
	EML	TKR	LECO	HLMN	KMT	PFIN	SKFRY	MKTAY

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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

KMT	+ 0.83	LECO
PFIN	+ 0.81	HLMN
TKR	+ 0.79	EML
HLMN	+ 0.67	LECO
KMT	+ 0.66	HLMN
PFIN	+ 0.61	LECO

High negative correlations

KMT	- 0.57	TKR
KMT	- 0.55	EML
MKTAY	- 0.41	TKR
MKTAY	- 0.34	EML
LECO	- 0.31	EML
LECO	- 0.25	TKR

Risk-Adjusted Indicators

There is a big difference between SCX Stock performing well and LS Starrett 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 LS Starrett'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
EML	1.76	(0.08)	0.00	(0.03)	0.00	0.00	4.10	(3.42)	12.25
TKR	1.42	(0.26)	0.00	(0.08)	0.00	0.00	2.64	(2.47)	16.50
LECO	1.39	(0.06)	0.00	0.05	1.50	(1.62)	3.09	(2.12)	9.04
HLMN	1.34	0.14	0.12	0.19	1.22	(1.60)	3.36	(2.18)	7.63
KMT	1.43	(0.02)	0.07	0.08	1.49	(1.56)	2.76	(2.06)	23.53
PFIN	1.39	0.45	0.20	1.49	1.33	(1.71)	3.15	(2.91)	11.88
SKFRY	1.53	0.04	(0.03)	(0.10)	2.05	(1.47)	2.72	(3.28)	11.40
MKTAY	1.59	0.62	0.23	(2.11)	1.56	(1.75)	3.83	(2.47)	11.43

LS Starrett Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with LS Starrett stock to make a market-neutral strategy. Peer analysis of LS Starrett could also be used in its relative valuation, which is a method of valuing LS Starrett by comparing valuation metrics with similar companies.

Eastern Co Timken Company Lincoln Electric Holdings Hillman Solutions Corp Kennametal PF Industries AB SKF Makita Corp American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp

Risk & Return

Correlation

Still Interested in LS Starrett?

Investing in delisted delisted stocks can be risky, as the stock is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.

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