Shimmick Common Correlations

SHIM Stock

3.05 0.13 4.45%

The current 90-days correlation between Shimmick Common and Innovate Corp is 0.18 (i.e., Average 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

Average diversification

The correlation between Shimmick Common and DJI is 0.14 (i.e., Average 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

0.83	GVA	Granite Construction	Pair Corr
0.72	MSP	Minaean SP Construction Split	Pair Corr

Moving against Shimmick Stock

0.69	600512	Tengda Construction	Pair Corr
0.59	002551	Shenzhen Glory Medical	Pair Corr
0.55	600545	Saurer Intelligent	Pair Corr
0.53	ACM	Aecom Technology	Pair Corr
0.5	603176	Huitong Construction	Pair Corr
0.4	000809	Tieling Newcity Inve	Pair Corr
0.4	601789	Ningbo Construction	Pair Corr
0.35	300597	Jilin Jlu Communication	Pair Corr
0.31	JFB	JFB Construction Holdings	Pair Corr
0.31	600496	Changjiang Jinggong Steel	Pair Corr
0.59	STRL	Sterling Construction	Pair Corr
0.58	603843	Zhengping RoadBridge	Pair Corr
0.54	000498	Shandong Hi Speed	Pair Corr
0.51	600491	Long Yuan Construction	Pair Corr
0.5	601186	China Railway Constr	Pair Corr
0.46	600477	Hang Xiao Steel	Pair Corr
0.41	601618	Metallurgical	Pair Corr
0.4	300732	Henan Provincial Com	Pair Corr
0.39	DRT	DIRTT Environmental	Pair Corr
0.36	002062	Hongrun Construction	Pair Corr
0.35	AMRC	Ameresco	Pair Corr
0.31	ONEG	OneConstruction Group	Pair Corr

Related Correlations Analysis

	VATE	JLHL	TISI	RYM	SFWL	XCH	CBAT	NNBR	DFLI	FTEK
VATE		0.1	0.17	-0.12	0.03	0.28	-0.17	-0.03	-0.12	-0.18	VATE
JLHL	0.1		0.2	0.07	-0.02	-0.06	0.02	0.15	0.21	0.15	JLHL
TISI	0.17	0.2		0.04	0.09	-0.16	-0.19	0.19	0.09	0.04	TISI
RYM	-0.12	0.07	0.04		0.31	0.57	0.61	0.91	0.7	0.9	RYM
SFWL	0.03	-0.02	0.09	0.31		0.06	0.05	0.32	-0.06	0.23	SFWL
XCH	0.28	-0.06	-0.16	0.57	0.06		0.6	0.58	0.57	0.61	XCH
CBAT	-0.17	0.02	-0.19	0.61	0.05	0.6		0.55	0.76	0.69	CBAT
NNBR	-0.03	0.15	0.19	0.91	0.32	0.58	0.55		0.74	0.94	NNBR
DFLI	-0.12	0.21	0.09	0.7	-0.06	0.57	0.76	0.74		0.83	DFLI
FTEK	-0.18	0.15	0.04	0.9	0.23	0.61	0.69	0.94	0.83		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	+ 0.94	NNBR
NNBR	+ 0.91	RYM
FTEK	+ 0.9	RYM
FTEK	+ 0.83	DFLI
DFLI	+ 0.76	CBAT
DFLI	+ 0.74	NNBR

High negative correlations

CBAT	- 0.19	TISI
FTEK	- 0.18	VATE
CBAT	- 0.17	VATE
XCH	- 0.16	TISI
DFLI	- 0.12	VATE
RYM	- 0.12	VATE

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	3.39	0.17	0.04	0.39	3.52	(4.06)	7.56	(6.54)	25.66
JLHL	4.66	(0.07)	0.00	0.03	7.26	(4.68)	8.83	(11.95)	32.35
TISI	2.65	(0.21)	0.00	(0.30)	0.00	0.00	4.97	(5.62)	21.87
RYM	5.85	(0.56)	0.00	(2.05)	0.00	0.00	11.54	(15.38)	63.12
SFWL	3.01	(0.16)	0.00	(5.20)	0.00	0.00	3.90	(7.14)	43.33
XCH	7.30	0.20	0.06	0.08	7.71	(10.24)	15.79	(10.66)	122.83
CBAT	2.76	(0.11)	(0.01)	0.01	2.97	(3.39)	4.55	(4.20)	22.75
NNBR	3.27	(0.66)	0.00	(0.36)	0.00	0.00	6.29	(5.22)	21.64
DFLI	11.41	0.22	0.06	0.08	12.50	(13.79)	28.76	(18.56)	116.66
FTEK	3.18	(0.89)	0.00	(0.38)	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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