Simpson Manufacturing Correlations

SSD Stock

USD 197.82 1.51 0.77%

The current 90-days correlation between Simpson Manufacturing and Armstrong World Industries is 0.05 (i.e., Significant 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

Poor diversification

The correlation between Simpson Manufacturing and DJI is 0.76 (i.e., Poor 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 signals in main economic indicators.

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

Moving together with Simpson Stock

0.93	NX	Quanex Building Products	Pair Corr
0.95	OC	Owens Corning	Pair Corr
0.75	TT	Trane Technologies plc	Pair Corr
0.84	LXI	Lennox International	Pair Corr
0.88	75L	TAIKISHA LTD	Pair Corr
0.87	FAN	Volution Group plc	Pair Corr
0.87	VO1	Volution Group plc	Pair Corr
0.85	LFPB	TRAVIS PERKINS LS	Pair Corr
0.66	ANP	Apogee Enterprises	Pair Corr
0.75	FBIN	Fortune Brands Innov	Pair Corr
0.9	6DA	Advanced Drainage Systems	Pair Corr
0.96	AOS	Smith AO	Pair Corr
0.87	APT	Alpha Pro Tech	Pair Corr
0.67	AWI	Armstrong World Indu	Pair Corr
0.96	GFF	Griffon	Pair Corr
0.63	MPP	Metro Performance Glass	Pair Corr
0.78	JCI	Johnson Controls Int	Pair Corr
0.89	LII	Lennox International	Pair Corr
0.95	MAS	Masco	Pair Corr
0.95	WMS	Advanced Drainage Systems	Pair Corr
0.78	ZWS	Zurn Elkay Water	Pair Corr
0.7	B1F	Builders FirstSource	Pair Corr
0.65	2FB	Fortune Brands Home	Pair Corr
0.88	APL	Alpha Pro Tech	Pair Corr

Moving against Simpson Stock

0.79	2VI	Arlo Technologies Earnings Call Tomorrow	Pair Corr
0.72	L5E	Lindab International	Pair Corr
0.75	NCL	Northann Corp	Pair Corr
0.41	WXM	WF International	Pair Corr
0.4	DKI	Daikin IndustriesLtd	Pair Corr

Related Correlations Analysis

	AWI	FBIN	TTC	AAON	TFII	PRIM	ESAB	IESC	FSS	AL
AWI		0.62	0.65	0.33	0.66	0.54	0.7	0.47	0.84	0.59	AWI
FBIN	0.62		0.76	0.44	0.77	0.69	0.75	0.5	0.63	0.67	FBIN
TTC	0.65	0.76		0.58	0.91	0.9	0.9	0.61	0.68	0.93	TTC
AAON	0.33	0.44	0.58		0.29	0.74	0.62	0.6	0.44	0.43	AAON
TFII	0.66	0.77	0.91	0.29		0.8	0.87	0.59	0.66	0.93	TFII
PRIM	0.54	0.69	0.9	0.74	0.8		0.88	0.81	0.63	0.88	PRIM
ESAB	0.7	0.75	0.9	0.62	0.87	0.88		0.71	0.77	0.85	ESAB
IESC	0.47	0.5	0.61	0.6	0.59	0.81	0.71		0.61	0.67	IESC
FSS	0.84	0.63	0.68	0.44	0.66	0.63	0.77	0.61		0.6	FSS
AL	0.59	0.67	0.93	0.43	0.93	0.88	0.85	0.67	0.6		AL
	AWI	FBIN	TTC	AAON	TFII	PRIM	ESAB	IESC	FSS	AL

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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
AWI	1.08	0.09	0.01	0.69	1.34	(1.12)	2.43	(2.80)	7.39
FBIN	2.20	0.24	0.08	0.23	3.17	(2.44)	5.90	(2.65)	25.45
TTC	1.26	0.52	0.46	0.74	0.43	(1.54)	2.94	(1.38)	13.49
AAON	2.03	0.04	0.04	0.12	2.57	(2.18)	3.95	(4.97)	9.83
TFII	1.70	0.40	0.17	0.36	2.09	(1.80)	4.15	(3.25)	14.59
PRIM	2.31	0.29	0.10	0.31	2.89	(2.42)	5.61	(4.72)	14.82
ESAB	1.52	0.11	0.08	0.16	1.64	(1.72)	3.91	(2.58)	12.91
IESC	3.23	0.42	0.11	0.26	4.72	(3.52)	7.38	(4.48)	28.38
FSS	1.18	0.02	0.03	0.11	1.32	(1.22)	2.38	(2.04)	6.54
AL	0.09	0.02	(0.70)	1.95	0.00	(0.12)	0.23	(0.14)	0.50

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