Taylor Devices Correlations

TAYD Stock

USD 81.87 1.68 2.01%

The current 90-days correlation between Taylor Devices and HUHUTECH International Group is -0.12 (i.e., Good diversification). The correlation of Taylor Devices 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.

Taylor Devices Correlation With Market

Poor diversification

The correlation between Taylor Devices and DJI is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Taylor Devices and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Taylor Stock

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

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

Moving together with Taylor Stock

0.68	PH	Parker Hannifin	Pair Corr
0.89	PL	Planet Labs PBC Downward Rally	Pair Corr
0.61	HZ8	Insteel Industries	Pair Corr
0.9	FSTR	LB Foster	Pair Corr
0.62	WWD	Woodward	Pair Corr
0.75	OERL	OC Oerlikon Corp	Pair Corr
0.9	JBTM	JBTMarel Corp	Pair Corr
0.71	FLO	Flowtech Fluidpower plc	Pair Corr
0.72	MGAM	Morgan Advanced Materials	Pair Corr
0.89	LECO	Lincoln Electric Holdings Earnings Call Tomorrow	Pair Corr
0.66	BYS	Bystronic AG	Pair Corr
0.73	LPK	LPKF Laser Electronics	Pair Corr
0.92	OFLX	Omega Flex	Pair Corr
0.73	PRLB	Proto Labs	Pair Corr

Moving against Taylor Stock

0.45	XPON	Expion360	Pair Corr
0.31	EVEX	Eve Holding	Pair Corr
0.32	PNT	Pentair plc	Pair Corr
0.88	DFLI	Chardan NexTech Acqu	Pair Corr
0.76	RAYA	Erayak Power Solution	Pair Corr
0.67	FSTF	First State Financial	Pair Corr
0.62	XSG	Xeros Technology	Pair Corr

Related Correlations Analysis

	HUHU	HURC	VOLT	TBI	GIFI	EML	FORR	MVST	ISSC	ENGS
HUHU		-0.84	-0.81	-0.61	-0.52	0.71	-0.28	0.42	-0.3	-0.23	HUHU
HURC	-0.84		0.68	0.41	0.69	-0.65	0.36	-0.29	0.23	0.29	HURC
VOLT	-0.81	0.68		0.63	0.3	-0.48	0.1	-0.67	0.2	0.32	VOLT
TBI	-0.61	0.41	0.63		0.29	-0.36	0.13	-0.34	0.3	-0.1	TBI
GIFI	-0.52	0.69	0.3	0.29		-0.36	0.06	0.0	-0.08	0.25	GIFI
EML	0.71	-0.65	-0.48	-0.36	-0.36		-0.51	0.22	-0.47	-0.08	EML
FORR	-0.28	0.36	0.1	0.13	0.06	-0.51		-0.17	0.69	-0.28	FORR
MVST	0.42	-0.29	-0.67	-0.34	0.0	0.22	-0.17		-0.43	-0.16	MVST
ISSC	-0.3	0.23	0.2	0.3	-0.08	-0.47	0.69	-0.43		-0.28	ISSC
ENGS	-0.23	0.29	0.32	-0.1	0.25	-0.08	-0.28	-0.16	-0.28		ENGS
	HUHU	HURC	VOLT	TBI	GIFI	EML	FORR	MVST	ISSC	ENGS

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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

EML	+ 0.71	HUHU
GIFI	+ 0.69	HURC
ISSC	+ 0.69	FORR
VOLT	+ 0.68	HURC
TBI	+ 0.63	VOLT
MVST	+ 0.42	HUHU

High negative correlations

HURC	- 0.84	HUHU
VOLT	- 0.81	HUHU
MVST	- 0.67	VOLT
EML	- 0.65	HURC
TBI	- 0.61	HUHU
GIFI	- 0.52	HUHU

Risk-Adjusted Indicators

There is a big difference between Taylor Stock performing well and Taylor Devices 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 Taylor Devices' 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
HUHU	3.72	(0.65)	0.00	(0.44)	0.00	0.00	7.07	(9.45)	36.61
HURC	1.58	0.04	0.01	0.14	2.02	(1.58)	3.18	(3.44)	11.27
VOLT	0.98	0.22	0.18	0.34	0.84	(1.15)	2.16	(1.70)	4.83
TBI	2.36	(0.07)	(0.04)	(0.01)	2.55	(2.99)	5.71	(4.52)	13.56
GIFI	0.08	0.03	(0.56)	(2.75)	0.00	(0.14)	0.25	(0.08)	0.42
EML	2.02	(0.15)	0.00	(0.06)	0.00	0.00	4.67	(3.27)	10.55
FORR	2.06	(0.30)	0.00	(0.52)	0.00	0.00	3.02	(4.33)	19.28
MVST	2.97	(0.86)	0.00	(0.39)	0.00	0.00	5.86	(5.32)	18.37
ISSC	3.76	1.13	0.33	0.70	3.04	(4.65)	9.75	(5.27)	39.02
ENGS	8.94	(1.96)	0.00	0.57	0.00	0.00	17.72	(18.64)	67.59

Taylor Devices Corporate Management

Todd Avery	Vice Operations	Profile
Robert Conrad	Vice Operations	Profile
Megan Brant	Accounting Supervisor	Profile
Benjamin Kujawinski	Operations VP	Profile
Donald Horne	Chief Engineer	Profile

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