Encore Wire Correlations

Summary

WIREDelisted Stock

USD 289.84 0.00 0.00%

The current 90-days correlation between Encore Wire and Advanced Energy Industries is 0.02 (i.e., Significant diversification). The correlation of Encore Wire 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.

Encore Wire Correlation With Market

Modest diversification

The correlation between Encore Wire and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Encore Wire and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Encore Stock

0.72	MSB	Mesabi Trust	Pair Corr
0.62	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.68	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.61	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.85	T	ATT Inc Sell-off Trend	Pair Corr
0.74	WMT	Walmart Aggressive Push	Pair Corr

Moving against Encore Stock

0.65	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.49	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.33	PFE	Pfizer Inc Aggressive Push	Pair Corr

Related Correlations Analysis

	AEIS	AYI	ENS	NVT	KE	HUBB	VRT	ENR
AEIS		0.77	0.04	0.83	0.72	0.72	0.76	0.71	AEIS
AYI	0.77		0.02	0.88	0.56	0.91	0.94	0.67	AYI
ENS	0.04	0.02		0.16	-0.16	0.27	-0.07	-0.33	ENS
NVT	0.83	0.88	0.16		0.59	0.94	0.92	0.65	NVT
KE	0.72	0.56	-0.16	0.59		0.49	0.58	0.58	KE
HUBB	0.72	0.91	0.27	0.94	0.49		0.91	0.54	HUBB
VRT	0.76	0.94	-0.07	0.92	0.58	0.91		0.78	VRT
ENR	0.71	0.67	-0.33	0.65	0.58	0.54	0.78		ENR
	AEIS	AYI	ENS	NVT	KE	HUBB	VRT	ENR

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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

VRT	+ 0.94	AYI
HUBB	+ 0.94	NVT
VRT	+ 0.92	NVT
HUBB	+ 0.91	AYI
VRT	+ 0.91	HUBB
NVT	+ 0.88	AYI

High negative correlations

ENR	- 0.33	ENS
KE	- 0.16	ENS
VRT	- 0.07	ENS

Risk-Adjusted Indicators

There is a big difference between Encore Stock performing well and Encore Wire 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 Encore Wire'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
AEIS	1.50	(0.11)	0.00	0.06	1.89	(1.57)	3.85	(2.92)	9.74
AYI	1.24	0.33	0.24	0.46	0.91	(1.43)	2.82	(2.02)	11.12
ENS	1.18	(0.14)	(0.06)	0.02	1.68	(1.21)	2.21	(2.35)	8.90
NVT	1.69	0.06	0.07	0.15	2.15	(1.89)	3.19	(2.34)	13.93
KE	1.63	(0.05)	0.02	0.09	1.71	(1.91)	3.85	(3.18)	11.84
HUBB	1.28	0.10	0.12	0.18	1.35	(1.43)	3.09	(2.12)	10.41
VRT	2.32	0.70	0.29	0.45	2.16	(2.64)	5.87	(3.65)	16.98
ENR	1.07	0.34	0.17	1.60	1.06	(1.28)	2.67	(1.29)	12.72

Encore Wire Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Encore Wire stock to make a market-neutral strategy. Peer analysis of Encore Wire could also be used in its relative valuation, which is a method of valuing Encore Wire by comparing valuation metrics with similar companies.

Advanced Energy Industries Acuity Brands Enersys nVent Electric PLC Kimball Electronics Hubbell Vertiv Holdings Co Energizer Holdings American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp

Risk & Return

Correlation

Encore Wire Corporate Management

Kevin Heffernan	Vice Marketing	Profile
Matthew Ford	Assistant Controller	Profile
David McAtee	General Counsel	Profile
William Bigbee	Vice Operations	Profile
Kevin Keiffer	Vice Marketing	Profile

Still Interested in Encore Wire?

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