SIFCO Industries Correlations

SIF Stock  USD 4.01  0.13  3.35%   
The current 90-days correlation between SIFCO Industries and Park Electrochemical is 0.03 (i.e., Significant diversification). The correlation of SIFCO Industries 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.

SIFCO Industries Correlation With Market

Modest diversification

The correlation between SIFCO Industries and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SIFCO Industries and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in SIFCO Industries. 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.
For more detail on how to invest in SIFCO Stock please use our How to Invest in SIFCO Industries guide.

Moving together with SIFCO Stock

  0.73HII Huntington IngallsPairCorr
  0.64KWE KWESST Micro Systems Fiscal Year End 15th of January 2025 PairCorr

Moving against SIFCO Stock

  0.76ESLT Elbit SystemsPairCorr
  0.69CW Curtiss WrightPairCorr
  0.69DRS Leonardo DRS, CommonPairCorr
  0.63EH Ehang HoldingsPairCorr
  0.51PL Planet Labs PBCPairCorr
  0.47CAE CAE IncPairCorr
  0.65HWM Howmet AerospacePairCorr
  0.65PKE Park ElectrochemicalPairCorr
  0.65RDW Redwire Corp Upward RallyPairCorr
  0.65VVX V2X IncPairCorr
  0.63LHX L3Harris Technologies Fiscal Year End 23rd of January 2025 PairCorr
  0.6TGI Triumph GroupPairCorr
  0.33WWD WoodwardPairCorr
  0.69ISSC Innovative Solutions andPairCorr
  0.66LOAR Loar HoldingsPairCorr
  0.5LUNR Intuitive Machines Buyout TrendPairCorr
  0.47GPUS-PD Hyperscale Data,PairCorr

Related Correlations Analysis

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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   
VSECPKE
VSECKAMN
TATTVSEC
TATTPKE
TATTKAMN
KAMNPKE
  
High negative correlations   
ATROKAMN
TATTATRO
VSECATRO
TATTAIRI
ATROPKE
CVUAIRI

Risk-Adjusted Indicators

There is a big difference between SIFCO Stock performing well and SIFCO Industries 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 SIFCO Industries' 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.