Eastern Correlations

EML Stock

USD 18.30 0.07 0.38%

The current 90-days correlation between Eastern and Gulf Island Fabrication is -0.06 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Eastern moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Eastern Co moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Eastern Correlation With Market

Weak diversification

The correlation between Eastern Co and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eastern Co and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Eastern Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Eastern Co. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with Eastern Stock

0.73	HY	Hyster Yale Materials	Pair Corr
0.7	DPRO	Draganfly Upward Rally	Pair Corr
0.73	ERII	Energy Recovery	Pair Corr
0.64	FIP	FTAI Infrastructure	Pair Corr
0.71	MWA	Mueller Water Products	Pair Corr
0.73	NVX	Novonix Ltd ADR Buyout Trend	Pair Corr
0.8	PNR	Pentair PLC	Pair Corr
0.82	SMR	Nuscale Power Corp Trending	Pair Corr
0.63	TRS	TriMas	Pair Corr

Moving against Eastern Stock

0.83	PH	Parker Hannifin	Pair Corr
0.79	688028	Beijing Worldia Diamond	Pair Corr
0.72	DOV	Dover	Pair Corr
0.71	DCI	Donaldson	Pair Corr
0.64	RFG	Roebuck Food Group	Pair Corr
0.61	HI	Hillenbrand	Pair Corr
0.61	301028	Xiamen East Asia	Pair Corr
0.46	600765	AVIC Heavy Machinery	Pair Corr
0.77	FLS	Flowserve	Pair Corr
0.66	FTV	Fortive Corp	Pair Corr
0.51	IEX	IDEX	Pair Corr

Related Correlations Analysis

	GIFI	SRFM	ESP	MVST	SCAG	TAYD	MATH	OPXS	VOLT	IRS
GIFI		-0.92	0.6	-0.87	-0.53	0.66	-0.62	-0.69	-0.5	0.87	GIFI
SRFM	-0.92		-0.56	0.85	0.61	-0.6	0.67	0.55	0.5	-0.89	SRFM
ESP	0.6	-0.56		-0.74	0.13	0.92	-0.65	-0.46	-0.3	0.72	ESP
MVST	-0.87	0.85	-0.74		0.34	-0.75	0.51	0.78	0.67	-0.82	MVST
SCAG	-0.53	0.61	0.13	0.34		0.07	0.17	0.31	0.28	-0.43	SCAG
TAYD	0.66	-0.6	0.92	-0.75	0.07		-0.75	-0.51	-0.35	0.76	TAYD
MATH	-0.62	0.67	-0.65	0.51	0.17	-0.75		0.22	0.12	-0.72	MATH
OPXS	-0.69	0.55	-0.46	0.78	0.31	-0.51	0.22		0.77	-0.49	OPXS
VOLT	-0.5	0.5	-0.3	0.67	0.28	-0.35	0.12	0.77		-0.31	VOLT
IRS	0.87	-0.89	0.72	-0.82	-0.43	0.76	-0.72	-0.49	-0.31		IRS
	GIFI	SRFM	ESP	MVST	SCAG	TAYD	MATH	OPXS	VOLT	IRS

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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

TAYD	+ 0.92	ESP
IRS	+ 0.87	GIFI
MVST	+ 0.85	SRFM
OPXS	+ 0.78	MVST
VOLT	+ 0.77	OPXS
IRS	+ 0.76	TAYD

High negative correlations

SRFM	- 0.92	GIFI
IRS	- 0.89	SRFM
MVST	- 0.87	GIFI
IRS	- 0.82	MVST
MATH	- 0.75	TAYD
TAYD	- 0.75	MVST

Risk-Adjusted Indicators

There is a big difference between Eastern Stock performing well and Eastern 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 Eastern'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
GIFI	1.84	0.79	0.63	2.14	0.00	(2.45)	2.43	(2.00)	49.85
SRFM	4.95	(0.79)	0.00	(0.13)	0.00	0.00	10.58	(8.50)	26.17
ESP	1.76	0.30	0.10	3.94	1.91	(1.72)	4.38	(3.63)	10.00
MVST	3.98	(0.44)	0.00	(0.11)	0.00	0.00	11.75	(8.91)	31.06
SCAG	5.70	0.18	0.05	0.12	6.21	(6.72)	13.47	(9.00)	36.10
TAYD	2.49	0.74	0.16	6.10	3.09	(2.64)	5.41	(4.32)	19.29
MATH	3.92	(0.68)	0.00	(0.66)	0.00	0.00	7.79	(7.77)	20.85
OPXS	3.33	0.07	0.03	0.11	4.24	(3.46)	8.12	(7.62)	24.39
VOLT	0.97	(0.06)	(0.05)	0.00	1.37	(0.93)	1.74	(2.15)	5.37
IRS	2.42	0.68	0.31	0.69	1.64	(3.11)	4.98	(3.17)	36.65

Eastern Corporate Management

Peter OHara	Chief Officer	Profile
Jeffrey Fleming	Managing Eberhard	Profile
Ernie Hawkins	Executive Officer	Profile
Christopher Moulton	Head Relations	Profile

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