Stoneridge Correlations

SRI Stock

USD 5.96 0.09 1.53%

The current 90-days correlation between Stoneridge and Baozun Inc is 0.21 (i.e., Modest diversification). The correlation of Stoneridge 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.

Stoneridge Correlation With Market

Very weak diversification

The correlation between Stoneridge and DJI is 0.46 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Stoneridge and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Stoneridge Stock

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

For more detail on how to invest in Stoneridge Stock please use our How to Invest in Stoneridge guide.

Moving together with Stoneridge Stock

0.81	VC	Visteon Corp	Pair Corr
0.67	EVTV	Envirotech Vehicles	Pair Corr
0.85	WKSP	Worksport	Pair Corr
0.92	FOXF	Fox Factory Holding	Pair Corr
0.71	ECX	ECARX Holdings Class	Pair Corr
0.81	SMP	Standard Motor Products	Pair Corr
0.78	300998	Ningbo Fangzheng Aut	Pair Corr
0.68	002265	Yunnan Xiyi Industrial	Pair Corr
0.73	LVWR	LiveWire Group	Pair Corr
0.79	MBLY	Mobileye Global Class	Pair Corr
0.83	MPAA	Motorcar Parts	Pair Corr
0.87	MTEN	Mingteng International	Pair Corr
0.65	301072	Zhongjie Technology CoLtd	Pair Corr
0.76	AEVA	Aeva Technologies Common	Pair Corr
0.72	301397	Chongqing Sulian Plastic	Pair Corr
0.7	CAAS	China Automotive Systems	Pair Corr
0.87	605128	Shanghai Yanpu Metal	Pair Corr
0.69	300825	Iat Automobile Technology	Pair Corr
0.68	002126	Zhejiang Yinlun Machinery	Pair Corr

Moving against Stoneridge Stock

0.75	XPEL	Xpel Inc	Pair Corr
0.53	605255	Ningbo Tip Rubber	Pair Corr
0.53	688737	Sinocat Environmental	Pair Corr
0.31	AXL	American Axle Manufa	Pair Corr
0.69	601279	Changchun Engley Aut	Pair Corr
0.57	002813	Shenzhen RoadRover	Pair Corr
0.45	000901	Aerospace Hi Tech	Pair Corr
0.36	DDT	Datadot Technology	Pair Corr
0.76	HYMTF	Hyundai Motor	Pair Corr
0.72	NAUFF	NevGold Corp	Pair Corr
0.7	CASXF	Casa Minerals	Pair Corr
0.69	CICOY	COSCO SHIPPING Holdings	Pair Corr

Related Correlations Analysis

	BZUN	SEV	SDA	DBI	MSC	LOGC	AIIO	TWNP	CRMT	JAKK
BZUN		0.09	0.52	-0.67	0.75	0.29	0.88	0.81	0.34	0.73	BZUN
SEV	0.09		-0.5	-0.38	0.29	-0.5	-0.2	0.42	-0.58	-0.08	SEV
SDA	0.52	-0.5		-0.1	0.08	0.4	0.63	0.08	0.63	0.49	SDA
DBI	-0.67	-0.38	-0.1		-0.72	0.29	-0.58	-0.87	0.32	-0.27	DBI
MSC	0.75	0.29	0.08	-0.72		0.06	0.63	0.83	-0.01	0.6	MSC
LOGC	0.29	-0.5	0.4	0.29	0.06		0.42	-0.11	0.73	0.51	LOGC
AIIO	0.88	-0.2	0.63	-0.58	0.63	0.42		0.65	0.45	0.67	AIIO
TWNP	0.81	0.42	0.08	-0.87	0.83	-0.11	0.65		-0.18	0.44	TWNP
CRMT	0.34	-0.58	0.63	0.32	-0.01	0.73	0.45	-0.18		0.63	CRMT
JAKK	0.73	-0.08	0.49	-0.27	0.6	0.51	0.67	0.44	0.63		JAKK
	BZUN	SEV	SDA	DBI	MSC	LOGC	AIIO	TWNP	CRMT	JAKK

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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

AIIO	+ 0.88	BZUN
TWNP	+ 0.83	MSC
TWNP	+ 0.81	BZUN
MSC	+ 0.75	BZUN
JAKK	+ 0.73	BZUN
CRMT	+ 0.73	LOGC

High negative correlations

TWNP	- 0.87	DBI
MSC	- 0.72	DBI
DBI	- 0.67	BZUN
AIIO	- 0.58	DBI
CRMT	- 0.58	SEV
LOGC	- 0.5	SEV

Risk-Adjusted Indicators

There is a big difference between Stoneridge Stock performing well and Stoneridge 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 Stoneridge'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
BZUN	2.19	(0.62)	0.00	(0.42)	0.00	0.00	3.25	(4.64)	17.07
SEV	6.62	(0.53)	0.00	(1.30)	0.00	0.00	14.23	(12.11)	76.15
SDA	2.41	(0.23)	0.00	(0.11)	0.00	0.00	8.11	(5.71)	18.23
DBI	4.24	1.13	0.36	0.52	2.77	(5.70)	10.60	(5.75)	55.35
MSC	4.17	(0.04)	0.00	0.15	0.00	0.00	8.71	(7.91)	32.92
LOGC	1.38	(0.10)	0.00	(0.28)	0.00	0.00	4.12	(3.16)	9.27
AIIO	7.66	(2.67)	0.00	(1.14)	0.00	0.00	8.62	(20.65)	75.86
TWNP	5.15	(2.32)	0.00	7.01	0.00	0.00	8.58	(11.00)	48.40
CRMT	3.64	(0.25)	0.00	(0.06)	0.00	0.00	8.00	(5.94)	18.39
JAKK	1.76	(0.21)	0.00	(0.05)	0.00	0.00	4.74	(4.51)	11.14

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