Dmc Global Correlations

BOOM Stock

USD 7.76 0.22 2.76%

A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Dmc Global moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Dmc Global moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Dmc Global Correlation With Market

Modest diversification

The correlation between Dmc Global and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dmc Global and DJI in the same portfolio, assuming nothing else is changed.

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Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Dmc Global. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

To learn how to invest in Dmc Stock, please use our How to Invest in Dmc Global guide.

Moving together with Dmc Stock

0.9	TTI	Tetra Technologies	Pair Corr
0.79	J	Jacobs Solutions	Pair Corr
0.78	R	Ryder System Earnings Call This Week	Pair Corr
0.65	AL	Air Lease	Pair Corr
0.77	AZ	A2Z Smart Technologies	Pair Corr
0.7	BA	Boeing	Pair Corr
0.86	BE	Bloom Energy Corp	Pair Corr
0.75	BW	Babcock Wilcox Enter	Pair Corr
0.82	CR	Crane Company	Pair Corr
0.81	CW	Curtiss Wright	Pair Corr
0.61	DE	Deere Company	Pair Corr
0.79	DY	Dycom Industries	Pair Corr
0.76	GD	General Dynamics Earnings Call This Week	Pair Corr
0.7	GE	GE Aerospace Earnings Call This Week	Pair Corr
0.75	IR	Ingersoll Rand	Pair Corr
0.89	NX	Quanex Building Products	Pair Corr
0.69	OP	Oceanpal	Pair Corr

Moving against Dmc Stock

0.66	SPLP	Steel Partners Holdings	Pair Corr
0.41	MDU	MDU Resources Group	Pair Corr
0.7	NL	NL Industries	Pair Corr
0.59	GP	GreenPower Motor	Pair Corr
0.39	MG	Mistras Group	Pair Corr

Related Correlations Analysis

	CHX	DRQ	EFXT	RES	FET	XPRO	RNGR	WHD	MRC	VTOL
CHX		0.0	0.53	0.46	0.64	0.28	0.27	0.38	0.4	0.59	CHX
DRQ	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	DRQ
EFXT	0.53	0.0		0.32	0.9	0.71	0.32	0.85	0.8	0.89	EFXT
RES	0.46	0.0	0.32		0.57	0.49	0.77	0.23	0.07	0.49	RES
FET	0.64	0.0	0.9	0.57		0.7	0.56	0.7	0.68	0.95	FET
XPRO	0.28	0.0	0.71	0.49	0.7		0.52	0.76	0.44	0.75	XPRO
RNGR	0.27	0.0	0.32	0.77	0.56	0.52		0.18	0.0	0.43	RNGR
WHD	0.38	0.0	0.85	0.23	0.7	0.76	0.18		0.83	0.75	WHD
MRC	0.4	0.0	0.8	0.07	0.68	0.44	0.0	0.83		0.74	MRC
VTOL	0.59	0.0	0.89	0.49	0.95	0.75	0.43	0.75	0.74		VTOL
	CHX	DRQ	EFXT	RES	FET	XPRO	RNGR	WHD	MRC	VTOL

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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

VTOL	+ 0.95	FET
FET	+ 0.9	EFXT
VTOL	+ 0.89	EFXT
WHD	+ 0.85	EFXT
MRC	+ 0.83	WHD
MRC	+ 0.8	EFXT

High negative correlations

MRC	- 0.0	RNGR
VTOL	- 0.0	DRQ
MRC	- 0.0	DRQ
WHD	- 0.0	DRQ
RNGR	- 0.0	DRQ
XPRO	- 0.0	DRQ

Risk-Adjusted Indicators

There is a big difference between Dmc Stock performing well and Dmc Global 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 Dmc Global'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
CHX	1.61	0.10	(0.04)	(0.12)	2.02	(1.88)	3.92	(2.85)	10.39
DRQ	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EFXT	1.44	0.34	0.11	(1.66)	1.42	(1.60)	3.47	(2.51)	8.45
RES	1.96	0.03	(0.05)	(0.01)	2.31	(2.32)	4.11	(3.61)	11.92
FET	2.57	0.63	0.13	(0.76)	2.99	(2.70)	5.41	(4.41)	13.70
XPRO	2.62	0.03	0.00	0.18	3.19	(2.68)	5.82	(5.36)	14.58
RNGR	2.06	(0.01)	0.00	0.15	0.00	0.00	3.45	(4.14)	14.41
WHD	1.68	0.15	0.07	0.30	1.59	(1.94)	4.63	(2.90)	9.39
MRC	1.95	0.40	0.17	0.58	1.84	(2.31)	5.96	(2.70)	19.71
VTOL	1.51	0.32	0.12	1.00	1.63	(1.69)	3.34	(2.95)	8.56

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