Shimmick Common Correlations

SHIM Stock

3.42 0.06 1.72%

The current 90-days correlation between Shimmick Common and Innovate Corp is -0.26 (i.e., Very good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Shimmick Common moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Shimmick Common moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Shimmick Common Correlation With Market

Very poor diversification

The correlation between Shimmick Common and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Shimmick Common and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Shimmick Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Shimmick Common. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

To learn how to invest in Shimmick Stock, please use our How to Invest in Shimmick Common guide.

Moving together with Shimmick Stock

0.72	DY	Dycom Industries	Pair Corr
0.62	MYRG	MYR Group	Pair Corr
0.89	MBFJF	Mitsubishi UFJ Financial Earnings Call This Week	Pair Corr
0.91	MUFG	Mitsubishi UFJ Financial	Pair Corr
0.91	SMFG	Sumitomo Mitsui Financial Earnings Call Tomorrow	Pair Corr
0.89	SMFNF	Sumitomo Mitsui Financial Earnings Call Tomorrow	Pair Corr
0.64	KB	KB Financial Group	Pair Corr
0.9	MZHOF	Mizuho Financial Earnings Call This Week	Pair Corr
0.95	MFG	Mizuho Financial Earnings Call This Week	Pair Corr
0.87	LINC	Lincoln Educational	Pair Corr
0.91	CET	Central Securities	Pair Corr
0.91	SHTLF	South32 Limited	Pair Corr
0.75	ACLS	Axcelis Technologies	Pair Corr
0.79	FOX	Fox Corp Class Earnings Call This Week	Pair Corr
0.93	HL	Hecla Mining	Pair Corr
0.88	DAR	Darling Ingredients	Pair Corr
0.91	ONDS	Ondas Holdings	Pair Corr
0.84	SNDK	Sandisk Corp Earnings Call Today	Pair Corr
0.82	WAL	Western Alliance Ban	Pair Corr
0.67	GLASF	Glass House Brands	Pair Corr
0.83	FIBH	First Bancshares	Pair Corr
0.92	BIOA	BioAge Labs	Pair Corr
0.91	HYMC	Hycroft Mining Holding	Pair Corr
0.87	SAIC	Science Applications	Pair Corr
0.72	F	Ford Motor Earnings Call This Week	Pair Corr

Related Correlations Analysis

	VATE	JLHL	TISI	RYM	SFWL	XCH	CBAT	NNBR	DFLI	FTEK
VATE		0.16	0.06	0.29	0.24	0.29	0.0	0.65	0.14	0.26	VATE
JLHL	0.16		0.14	-0.2	-0.31	-0.03	-0.37	0.18	-0.03	-0.08	JLHL
TISI	0.06	0.14		0.31	-0.1	0.36	0.31	0.32	0.57	0.4	TISI
RYM	0.29	-0.2	0.31		0.12	0.78	0.57	0.72	0.61	0.82	RYM
SFWL	0.24	-0.31	-0.1	0.12		0.05	-0.02	0.08	-0.29	-0.09	SFWL
XCH	0.29	-0.03	0.36	0.78	0.05		0.64	0.71	0.73	0.86	XCH
CBAT	0.0	-0.37	0.31	0.57	-0.02	0.64		0.3	0.73	0.74	CBAT
NNBR	0.65	0.18	0.32	0.72	0.08	0.71	0.3		0.56	0.74	NNBR
DFLI	0.14	-0.03	0.57	0.61	-0.29	0.73	0.73	0.56		0.88	DFLI
FTEK	0.26	-0.08	0.4	0.82	-0.09	0.86	0.74	0.74	0.88		FTEK
	VATE	JLHL	TISI	RYM	SFWL	XCH	CBAT	NNBR	DFLI	FTEK

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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

FTEK	+ 0.88	DFLI
FTEK	+ 0.86	XCH
FTEK	+ 0.82	RYM
XCH	+ 0.78	RYM
FTEK	+ 0.74	CBAT
FTEK	+ 0.74	NNBR

High negative correlations

CBAT	- 0.37	JLHL
SFWL	- 0.31	JLHL
DFLI	- 0.29	SFWL
RYM	- 0.2	JLHL
SFWL	- 0.1	TISI
FTEK	- 0.09	SFWL

Risk-Adjusted Indicators

There is a big difference between Shimmick Stock performing well and Shimmick Common 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 Shimmick Common'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
VATE	2.95	0.14	0.03	0.51	3.49	(3.22)	6.67	(6.37)	25.66
JLHL	5.03	0.46	0.07	0.28	7.37	(4.96)	9.17	(11.95)	32.35
TISI	2.56	0.17	0.05	0.23	2.90	(2.65)	4.97	(5.23)	21.87
RYM	5.61	(0.71)	0.00	1.20	0.00	0.00	10.94	(15.38)	63.12
SFWL	2.95	0.22	0.03	(5.71)	3.79	(4.47)	5.56	(5.21)	43.33
XCH	4.31	(0.57)	0.00	(2.94)	0.00	0.00	8.76	(8.50)	32.99
CBAT	1.87	(0.29)	0.00	(0.31)	0.00	0.00	3.13	(3.33)	7.92
NNBR	3.31	(0.18)	0.00	(0.83)	0.00	0.00	5.49	(5.59)	21.64
DFLI	6.89	(1.58)	0.00	(0.23)	0.00	0.00	13.98	(17.43)	58.61
FTEK	3.01	(1.13)	0.00	(1.02)	0.00	0.00	6.45	(6.98)	19.15

Shimmick Common Corporate Management

Steven Richards	Chief Officer	Profile
Devin Nordhagen	Executive Officer	Profile
Jose Penalver	Vice Operations	Profile
Amanda Mobley	Executive Officer	Profile

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