Garmin Correlations

GRMN Stock

USD 214.97 4.64 2.11%

The current 90-days correlation between Garmin and Monolithic Power Systems is 0.28 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Garmin moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Garmin moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Garmin Correlation With Market

Very weak diversification

The correlation between Garmin and DJI is 0.47 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Garmin and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Garmin Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Garmin. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in industry.

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

Moving together with Garmin Stock

0.7	300857	Sharetronic Data Tec	Pair Corr
0.65	SONY	Sony Group Corp	Pair Corr
0.66	HMY	Harmony Gold Mining Earnings Call This Week	Pair Corr
0.67	LTRX	Lantronix Earnings Call This Week	Pair Corr
0.66	HNSBF	Hansa Biopharma AB	Pair Corr

Moving against Garmin Stock

0.54	CICHF	China Construction Bank	Pair Corr
0.47	UEIC	Universal Electronics Earnings Call This Week	Pair Corr
0.39	PBCRF	PT Bank Central	Pair Corr

Related Correlations Analysis

	MPWR	STX	TTWO	EA	XYZ	UI	TDY	TEL	NXPI	WDC
MPWR		0.79	0.79	0.84	0.29	0.87	0.06	0.94	-0.11	0.87	MPWR
STX	0.79		0.9	0.77	0.06	0.91	0.4	0.88	-0.03	0.97	STX
TTWO	0.79	0.9		0.82	0.1	0.92	0.51	0.81	0.06	0.92	TTWO
EA	0.84	0.77	0.82		0.15	0.8	0.36	0.81	-0.05	0.85	EA
XYZ	0.29	0.06	0.1	0.15		0.17	-0.05	0.27	0.35	0.11	XYZ
UI	0.87	0.91	0.92	0.8	0.17		0.31	0.91	-0.11	0.94	UI
TDY	0.06	0.4	0.51	0.36	-0.05	0.31		0.11	0.16	0.37	TDY
TEL	0.94	0.88	0.81	0.81	0.27	0.91	0.11		-0.13	0.93	TEL
NXPI	-0.11	-0.03	0.06	-0.05	0.35	-0.11	0.16	-0.13		-0.13	NXPI
WDC	0.87	0.97	0.92	0.85	0.11	0.94	0.37	0.93	-0.13		WDC
	MPWR	STX	TTWO	EA	XYZ	UI	TDY	TEL	NXPI	WDC

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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

WDC	+ 0.97	STX
TEL	+ 0.94	MPWR
WDC	+ 0.94	UI
WDC	+ 0.93	TEL
UI	+ 0.92	TTWO
WDC	+ 0.92	TTWO

High negative correlations

WDC	- 0.13	NXPI
NXPI	- 0.13	TEL
NXPI	- 0.11	UI
NXPI	- 0.11	MPWR
TDY	- 0.05	XYZ
NXPI	- 0.05	EA

Risk-Adjusted Indicators

There is a big difference between Garmin Stock performing well and Garmin 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 Garmin'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
MPWR	2.24	0.49	0.27	0.39	1.72	(3.09)	5.73	(2.64)	18.10
STX	2.48	0.93	0.33	2.26	1.96	(2.95)	6.51	(3.59)	16.14
TTWO	1.04	0.11	0.07	0.22	1.07	(1.20)	3.29	(1.81)	7.29
EA	1.11	0.37	0.25	1.55	0.72	(1.45)	3.01	(2.42)	15.18
XYZ	1.71	(0.27)	0.00	(0.02)	0.00	0.00	3.23	(4.28)	14.43
UI	2.36	0.66	0.22	0.28	3.14	(2.64)	4.86	(4.07)	36.60
TDY	0.90	(0.19)	0.00	(0.09)	0.00	0.00	1.89	(1.87)	9.11
TEL	0.85	0.14	0.13	0.22	0.98	(0.93)	2.14	(1.86)	6.26
NXPI	1.59	(0.29)	0.00	(0.04)	0.00	0.00	4.76	(3.87)	14.51
WDC	2.52	1.02	0.39	2.68	1.71	(2.99)	8.77	(3.70)	14.98

Garmin Corporate Executives

Elected by the shareholders, the Garmin's board of directors comprises two types of representatives: Garmin inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Garmin. The board's role is to monitor Garmin's management team and ensure that shareholders' interests are well served. Garmin's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Garmin's outside directors are responsible for providing unbiased perspectives on the board's policies.

	Douglas Boessen	Chief Financial Officer, Treasurer	Profile
	Douglas CPA	CFO Treasurer	Profile

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