Snap On Correlations

SNA Stock

USD 354.20 3.25 0.93%

The current 90-days correlation between Snap On and Lennox International is 0.5 (i.e., Very weak diversification). The correlation of Snap On 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.

Snap On Correlation With Market

Good diversification

The correlation between Snap On and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Snap On and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Snap Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Snap On. 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 information on how to trade Snap Stock refer to our How to Trade Snap Stock guide.

Moving together with Snap Stock

0.68	PH	Parker Hannifin	Pair Corr
0.76	RFG	Roebuck Food Group	Pair Corr
0.82	GGG	Graco Inc	Pair Corr
0.69	ITW	Illinois Tool Works	Pair Corr
0.72	WTS	Watts Water Technologies	Pair Corr
0.81	WWD	Woodward	Pair Corr
0.78	FTAIN	Fortress Transportation	Pair Corr
0.66	PRV	Porvair plc	Pair Corr
0.83	LECO	Lincoln Electric Holdings	Pair Corr

Moving against Snap Stock

0.56	300956	Anhui Shiny Electronic	Pair Corr
0.52	ILAG	Intelligent Living	Pair Corr
0.46	600666	Aurora Optoelectronics	Pair Corr
0.46	300823	Tjk Machinery Tianjin	Pair Corr
0.37	HYFM	Hydrofarm Holdings	Pair Corr
0.34	688700	Kunshan Dongwei Tech	Pair Corr
0.59	JCSE	JE Cleantech Holdings Buyout Trend	Pair Corr
0.57	002786	Shenzhen Silver Basis	Pair Corr
0.55	301048	Gemac Engineering	Pair Corr
0.54	002021	Zoje Resources Investment	Pair Corr
0.47	300786	Guolin Environmental Tech	Pair Corr
0.38	002855	Dongguan Chitwing	Pair Corr
0.34	603859	Nancal Energy Saving	Pair Corr

Related Correlations Analysis

	LII	ACM	EXPD	PNR	CHRW	FTAI	GPN	SWK	LECO	NVT
LII		0.21	-0.4	0.62	-0.45	0.29	0.79	0.32	0.47	-0.48	LII
ACM	0.21		-0.87	0.68	-0.77	-0.36	0.3	-0.67	-0.56	0.01	ACM
EXPD	-0.4	-0.87		-0.73	0.93	0.2	-0.53	0.57	0.34	0.33	EXPD
PNR	0.62	0.68	-0.73		-0.73	-0.11	0.72	-0.12	0.04	-0.22	PNR
CHRW	-0.45	-0.77	0.93	-0.73		0.2	-0.61	0.49	0.25	0.36	CHRW
FTAI	0.29	-0.36	0.2	-0.11	0.2		0.1	0.65	0.63	-0.28	FTAI
GPN	0.79	0.3	-0.53	0.72	-0.61	0.1		0.23	0.45	-0.52	GPN
SWK	0.32	-0.67	0.57	-0.12	0.49	0.65	0.23		0.89	-0.14	SWK
LECO	0.47	-0.56	0.34	0.04	0.25	0.63	0.45	0.89		-0.37	LECO
NVT	-0.48	0.01	0.33	-0.22	0.36	-0.28	-0.52	-0.14	-0.37		NVT
	LII	ACM	EXPD	PNR	CHRW	FTAI	GPN	SWK	LECO	NVT

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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

CHRW	+ 0.93	EXPD
LECO	+ 0.89	SWK
GPN	+ 0.79	LII
GPN	+ 0.72	PNR
PNR	+ 0.68	ACM
SWK	+ 0.65	FTAI

High negative correlations

EXPD	- 0.87	ACM
CHRW	- 0.77	ACM
CHRW	- 0.73	PNR
PNR	- 0.73	EXPD
SWK	- 0.67	ACM
GPN	- 0.61	CHRW

Risk-Adjusted Indicators

There is a big difference between Snap Stock performing well and Snap On 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 Snap On'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
LII	1.36	(0.12)	0.00	(0.47)	0.00	0.00	2.66	(2.46)	12.85
ACM	1.34	(0.47)	0.00	(0.59)	0.00	0.00	2.12	(3.02)	13.58
EXPD	1.30	0.40	0.23	(1.80)	1.07	(1.65)	2.75	(2.26)	13.29
PNR	0.90	(0.11)	0.00	0.94	0.00	0.00	1.51	(2.29)	5.98
CHRW	1.45	0.38	0.22	7.49	1.09	(1.83)	2.89	(2.42)	22.91
FTAI	2.60	0.54	0.12	(1.15)	3.09	(2.90)	6.86	(4.53)	17.39
GPN	1.42	(0.23)	0.00	29.50	0.00	0.00	2.84	(2.84)	10.18
SWK	1.64	0.08	0.02	0.25	1.97	(1.91)	4.48	(3.02)	7.95
LECO	1.19	0.07	0.00	0.56	1.59	(1.22)	2.34	(2.84)	6.56
NVT	1.80	0.13	0.03	0.68	2.47	(1.85)	3.66	(3.99)	16.83

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