Snap-on Incorporated Correlations

Stocks . Germany . 
Stock . Snap on Incorporated
SPU Stock  EUR 334.70  2.70  0.80%   
The current 90-days correlation between Snap-on Incorporated and Techtronic Industries is -0.18 (i.e., Good diversification). The correlation of Snap-on Incorporated 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 Incorporated Correlation With Market

Good diversification

The correlation between Snap on Incorporated and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Snap on Incorporated and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Snap-on Incorporated could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Snap-on Incorporated when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Snap-on Incorporated - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Snap on Incorporated to buy it.

Moving together with Snap-on Stock

  0.71TO2 ToroPairCorr
  0.77LNE Lincoln Electric HoldingsPairCorr
  0.91B1X RBC BearingsPairCorr
  0.86CAI CDN IMPERIAL BANKPairCorr
  0.61GIFN GigaMediaPairCorr
  0.71NY70 MOLSON RS BEVERAGEPairCorr
  0.69TL0 Tesla Inc Earnings Call This WeekPairCorr
  0.81MEC Meiko ElectronicsPairCorr
  0.8RHM Rheinmetall AGPairCorr
  0.931FA SPROUTS FARMERS MKTPairCorr
  0.67MTX MTU Aero EnginesPairCorr
  0.61MSF MicrosoftPairCorr
  0.67BOV Apyx Medical CorpPairCorr
  0.84HEI Heidelberg MaterialsPairCorr
  0.8IUI1 Intuitive Surgical Earnings Call This WeekPairCorr

Moving against Snap-on Stock

  0.74SWF Stanley Black DeckerPairCorr
  0.5603F IDP EDUCATION LTDPairCorr
  0.34MS3 MISUMI GROUP INC Earnings Call This WeekPairCorr
  0.32TIB1 Techtronic IndustriesPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
SKFB
+ 0.96
SKFA
B1X
+ 0.91
SPU
B1X
+ 0.85
TO2
TO2
+ 0.71
SPU
B1X
+ 0.64
SKFB
SKFA
+ 0.62
TO2
  
High negative correlations   
SWF
- 0.74
SPU
B1X
- 0.64
SWF
SKFB
- 0.64
SWF
SKFA
- 0.63
SWF
TO2
- 0.4
SWF
MS3
- 0.34
SPU

Risk-Adjusted Indicators

There is a big difference between Snap-on Stock performing well and Snap-on Incorporated 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 Incorporated'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Snap-on Incorporated without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

Did you try this?

Run Portfolio Optimization Now

   

Portfolio Optimization

Compute new portfolio that will generate highest expected return given your specified tolerance for risk
All  Next Launch Module

Snap-on Incorporated Corporate Management

Elected by the shareholders, the Snap-on Incorporated's board of directors comprises two types of representatives: Snap-on Incorporated inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Snap-on. The board's role is to monitor Snap-on Incorporated's management team and ensure that shareholders' interests are well served. Snap-on Incorporated's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Snap-on Incorporated's outside directors are responsible for providing unbiased perspectives on the board's policies.
Sara VerbskyVP RelationsProfile
June LemerandVP OfficerProfile
Anup BanerjeeSr OfficerProfile
Timothy ChambersVP GroupProfile
Thomas WardVP GroupProfile
Nicholas PinchukCEO ChairmanProfile
Samuel BottumChief VPProfile
Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2024 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY