Chicago Rivet Correlations

CVR Stock

USD 12.50 0.30 2.46%

The current 90-days correlation between Chicago Rivet Machine and Direct Line Insurance is 0.16 (i.e., Average diversification). The correlation of Chicago Rivet 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Chicago Rivet Correlation With Market

Modest diversification

The correlation between Chicago Rivet Machine and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Chicago Rivet Machine 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 Chicago Rivet Machine. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in real.

Moving together with Chicago Stock

0.65	KMT	Kennametal	Pair Corr
0.7	RBC	RBC Bearings	Pair Corr
0.65	TKR	Timken Company	Pair Corr
0.61	LECO	Lincoln Electric Holdings	Pair Corr
0.7	J	Jacobs Solutions	Pair Corr
0.72	AL	Air Lease	Pair Corr
0.77	AP	Ampco Pittsburgh	Pair Corr
0.75	BA	Boeing Aggressive Push	Pair Corr
0.64	BV	BrightView Holdings	Pair Corr
0.76	BW	Babcock Wilcox Enter	Pair Corr
0.66	BZ	Kanzhun Ltd ADR	Pair Corr
0.64	CP	Canadian Pacific Railway	Pair Corr
0.77	CR	Crane Company	Pair Corr
0.74	CW	Curtiss Wright	Pair Corr
0.69	DE	Deere Company	Pair Corr
0.77	DY	Dycom Industries	Pair Corr
0.67	FA	First Advantage Corp	Pair Corr
0.76	GE	GE Aerospace	Pair Corr
0.65	IR	Ingersoll Rand	Pair Corr
0.69	KE	Kimball Electronics	Pair Corr

Moving against Chicago Stock

0.46	HLMN	Hillman Solutions Corp	Pair Corr
0.46	G	Genpact Limited	Pair Corr
0.57	MG	Mistras Group	Pair Corr
0.43	PC	Premium Catering	Pair Corr
0.35	NL	NL Industries	Pair Corr

Related Correlations Analysis

	DIISY	L	RDN	USGO	CRZNF	CHMN	SSVRF
DIISY		0.64	0.79	-0.38	0.0	0.0	0.5	DIISY
L	0.64		0.83	-0.34	0.0	0.0	0.42	L
RDN	0.79	0.83		-0.45	0.0	0.0	0.52	RDN
USGO	-0.38	-0.34	-0.45		0.0	0.0	-0.16	USGO
CRZNF	0.0	0.0	0.0	0.0		-1.0	0.0	CRZNF
CHMN	0.0	0.0	0.0	0.0	-1.0		0.0	CHMN
SSVRF	0.5	0.42	0.52	-0.16	0.0	0.0		SSVRF
	DIISY	L	RDN	USGO	CRZNF	CHMN	SSVRF

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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

RDN	+ 0.83	L
RDN	+ 0.79	DIISY
L	+ 0.64	DIISY
SSVRF	+ 0.52	RDN
SSVRF	+ 0.5	DIISY
SSVRF	+ 0.42	L

High negative correlations

CHMN	- 1.0	CRZNF
USGO	- 0.45	RDN
USGO	- 0.38	DIISY
USGO	- 0.34	L
SSVRF	- 0.16	USGO
SSVRF	- 0.0	CHMN

Risk-Adjusted Indicators

There is a big difference between Chicago Stock performing well and Chicago Rivet 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 Chicago Rivet'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
DIISY	1.11	0.27	0.06	1.02	1.28	(2.47)	3.27	(1.37)	12.92
L	1.05	(0.07)	(0.04)	0.02	2.05	(0.93)	1.94	(2.27)	8.97
RDN	1.36	0.09	0.04	0.20	1.76	(1.40)	2.71	(3.05)	9.48
USGO	2.87	(0.22)	0.00	(0.25)	0.00	0.00	6.17	(4.87)	19.31
CRZNF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CHMN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SSVRF	3.59	0.25	0.04	0.35	3.70	(6.28)	10.53	(8.00)	21.64

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