EVI Industries Correlations

EVI Stock

USD 23.36 0.44 1.92%

The current 90-days correlation between EVI Industries and BlueLinx Holdings is 0.43 (i.e., Very weak diversification). The correlation of EVI Industries 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.

EVI Industries Correlation With Market

Weak diversification

The correlation between EVI Industries and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding EVI Industries and DJI in the same portfolio, assuming nothing else is changed.

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Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in EVI Industries. 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.

For more detail on how to invest in EVI Stock please use our How to Invest in EVI Industries guide.

Moving together with EVI Stock

0.79	DSGR	Distribution Solutions	Pair Corr
0.83	FAST	Fastenal	Pair Corr
0.81	FERG	Ferguson Plc	Pair Corr
0.8	AIT	Applied Industrial	Pair Corr
0.83	BXC	BlueLinx Holdings Earnings Call This Week	Pair Corr
0.88	CNM	Core Main	Pair Corr
0.65	GIC	Global Industrial Earnings Call This Week	Pair Corr
0.96	MSM	MSC Industrial Direct	Pair Corr
0.91	WCC	WESCO International	Pair Corr
0.93	WXM	WF International	Pair Corr
0.87	WCC-PA	WESCO International	Pair Corr
0.72	SITE	SiteOne Landscape Supply	Pair Corr
0.86	J	Jacobs Solutions	Pair Corr
0.91	R	Ryder System Earnings Call This Week	Pair Corr
0.88	DIST	Distoken Acquisition	Pair Corr
0.63	AL	Air Lease	Pair Corr
0.82	AZ	A2Z Smart Technologies	Pair Corr
0.78	BA	Boeing	Pair Corr
0.9	BE	Bloom Energy Corp	Pair Corr
0.66	BW	Babcock Wilcox Enter	Pair Corr
0.65	BZ	Kanzhun Ltd ADR	Pair Corr
0.73	CR	Crane Company Earnings Call This Week	Pair Corr
0.76	CW	Curtiss Wright	Pair Corr
0.79	DY	Dycom Industries	Pair Corr
0.94	GD	General Dynamics Earnings Call This Week	Pair Corr
0.75	GE	GE Aerospace Earnings Call Tomorrow	Pair Corr

Moving against EVI Stock

0.72	PC	Premium Catering	Pair Corr
0.7	NL	NL Industries	Pair Corr
0.48	GP	GreenPower Motor	Pair Corr
0.34	MG	Mistras Group	Pair Corr

Related Correlations Analysis

	DXPE	GIC	CNM	WSO-B	DSGR	WCC-PA	BXC	AIT	SITE	FERG
DXPE		0.38	0.43	-0.38	0.33	0.28	0.57	0.72	0.56	0.22	DXPE
GIC	0.38		0.78	-0.89	0.61	0.72	0.31	0.41	0.78	0.76	GIC
CNM	0.43	0.78		-0.84	0.75	0.91	0.65	0.72	0.76	0.95	CNM
WSO-B	-0.38	-0.89	-0.84		-0.49	-0.8	-0.33	-0.47	-0.67	-0.81	WSO-B
DSGR	0.33	0.61	0.75	-0.49		0.73	0.69	0.7	0.68	0.7	DSGR
WCC-PA	0.28	0.72	0.91	-0.8	0.73		0.6	0.61	0.58	0.95	WCC-PA
BXC	0.57	0.31	0.65	-0.33	0.69	0.6		0.8	0.66	0.55	BXC
AIT	0.72	0.41	0.72	-0.47	0.7	0.61	0.8		0.65	0.59	AIT
SITE	0.56	0.78	0.76	-0.67	0.68	0.58	0.66	0.65		0.67	SITE
FERG	0.22	0.76	0.95	-0.81	0.7	0.95	0.55	0.59	0.67		FERG
	DXPE	GIC	CNM	WSO-B	DSGR	WCC-PA	BXC	AIT	SITE	FERG

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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

FERG	+ 0.95	CNM
FERG	+ 0.95	WCC-PA
WCC-PA	+ 0.91	CNM
AIT	+ 0.8	BXC
CNM	+ 0.78	GIC
SITE	+ 0.78	GIC

High negative correlations

WSO-B	- 0.89	GIC
WSO-B	- 0.84	CNM
FERG	- 0.81	WSO-B
WCC-PA	- 0.8	WSO-B
SITE	- 0.67	WSO-B
DSGR	- 0.49	WSO-B

Risk-Adjusted Indicators

There is a big difference between EVI Stock performing well and EVI Industries 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 EVI Industries' 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
DXPE	1.81	0.21	0.11	0.32	1.85	(2.01)	3.81	(2.87)	9.85
GIC	1.42	0.14	0.13	0.25	1.01	(1.89)	3.51	(2.29)	18.42
CNM	1.41	0.21	0.16	0.32	1.11	(1.66)	3.20	(2.21)	12.44
WSO-B	0.57	(0.17)	0.00	0.91	0.00	0.00	0.00	(0.54)	12.41
DSGR	1.74	(0.12)	(0.02)	0.06	2.12	(1.95)	3.68	(3.74)	11.06
WCC-PA	0.04	0.01	(1.54)	(0.73)	0.00	(0.07)	0.12	(0.08)	0.28
BXC	2.51	(0.13)	(0.01)	0.06	3.46	(2.55)	6.61	(4.80)	13.45
AIT	1.62	0.03	0.05	0.15	1.85	(1.85)	3.60	(3.40)	10.50
SITE	1.69	(0.07)	0.00	0.08	1.85	(1.82)	4.20	(3.45)	10.11
FERG	1.30	0.34	0.32	0.50	0.54	(1.67)	3.17	(1.87)	18.95

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