Simpson Manufacturing Correlations

SSD Stock

USD 182.25 4.04 2.17%

The current 90-days correlation between Simpson Manufacturing and Alcoa Corp is 0.33 (i.e., Weak diversification). The correlation of Simpson Manufacturing 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.

Simpson Manufacturing Correlation With Market

Very weak diversification

The correlation between Simpson Manufacturing and DJI is 0.51 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Simpson Manufacturing and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Simpson Stock

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

For information on how to trade Simpson Stock refer to our How to Trade Simpson Stock guide.

Moving together with Simpson Stock

0.74	NX	Quanex Building Products	Pair Corr
0.82	OC	Owens Corning	Pair Corr
0.7	GWA	GWA Group	Pair Corr
0.72	300986	Jiangxi GETO New	Pair Corr
0.78	002918	Monalisa Group	Pair Corr
0.83	FBIN	Fortune Brands Innov	Pair Corr
0.75	AOS	Smith AO Earnings Call This Week	Pair Corr
0.84	GFF	Griffon	Pair Corr
0.71	LII	Lennox International	Pair Corr
0.87	MAS	Masco	Pair Corr

Moving against Simpson Stock

0.43	JCI	Johnson Controls Int	Pair Corr
0.32	002791	Guangdong Kinlong	Pair Corr
0.35	EMB	Embelton	Pair Corr
0.36	MSAIW	Infrared Cameras Holdings	Pair Corr

Related Correlations Analysis

	VCV	MRK	NMFC	AA	KOS	GGG	NSSC	SRTOY	KNX	KNOP
VCV		0.26	-0.11	0.48	0.05	0.32	-0.22	0.28	0.3	0.31	VCV
MRK	0.26		-0.14	0.87	-0.76	0.7	-0.44	0.15	0.82	0.76	MRK
NMFC	-0.11	-0.14		-0.05	0.01	0.13	0.37	0.46	0.09	0.0	NMFC
AA	0.48	0.87	-0.05		-0.55	0.83	-0.22	0.44	0.93	0.67	AA
KOS	0.05	-0.76	0.01	-0.55		-0.32	0.1	-0.03	-0.63	-0.73	KOS
GGG	0.32	0.7	0.13	0.83	-0.32		-0.2	0.58	0.88	0.54	GGG
NSSC	-0.22	-0.44	0.37	-0.22	0.1	-0.2		0.35	-0.11	-0.4	NSSC
SRTOY	0.28	0.15	0.46	0.44	-0.03	0.58	0.35		0.53	0.19	SRTOY
KNX	0.3	0.82	0.09	0.93	-0.63	0.88	-0.11	0.53		0.72	KNX
KNOP	0.31	0.76	0.0	0.67	-0.73	0.54	-0.4	0.19	0.72		KNOP
	VCV	MRK	NMFC	AA	KOS	GGG	NSSC	SRTOY	KNX	KNOP

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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

KNX	+ 0.93	AA
KNX	+ 0.88	GGG
AA	+ 0.87	MRK
GGG	+ 0.83	AA
KNX	+ 0.82	MRK
KNOP	+ 0.76	MRK

High negative correlations

KOS	- 0.76	MRK
KNOP	- 0.73	KOS
KNX	- 0.63	KOS
KOS	- 0.55	AA
NSSC	- 0.44	MRK
KNOP	- 0.4	NSSC

Risk-Adjusted Indicators

There is a big difference between Simpson Stock performing well and Simpson Manufacturing 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 Simpson Manufacturing'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
VCV	0.57	0.06	(0.01)	1.50	0.78	(0.60)	1.53	(1.55)	3.42
MRK	1.24	0.31	0.21	0.48	1.09	(1.53)	3.59	(1.98)	8.09
NMFC	0.84	(0.04)	(0.06)	0.01	1.01	(0.89)	1.66	(1.69)	5.28
AA	2.81	0.63	0.25	0.38	2.42	(3.46)	6.55	(4.82)	18.46
KOS	3.56	(0.09)	0.00	(0.24)	0.00	0.00	10.27	(5.99)	25.11
GGG	0.91	0.00	0.01	0.07	1.19	(0.90)	2.46	(1.90)	6.74
NSSC	1.76	(0.29)	0.00	(0.09)	0.00	0.00	3.98	(4.00)	14.26
SRTOY	1.02	(0.04)	0.00	0.03	1.97	(4.24)	2.92	(3.28)	14.94
KNX	1.70	0.20	0.11	0.22	1.86	(2.05)	3.84	(2.96)	8.76
KNOP	1.41	0.26	0.13	3.52	1.17	(1.71)	3.99	(2.14)	12.60

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