Harley Davidson Correlations

HOG Stock

USD 23.69 0.13 0.55%

The current 90-days correlation between Harley Davidson and Nabors Industries is 0.45 (i.e., Very weak diversification). The correlation of Harley Davidson 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.

Harley Davidson Correlation With Market

Very weak diversification

The correlation between Harley Davidson and DJI is 0.55 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Harley Davidson and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Harley Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Harley Davidson. 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.

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

Moving together with Harley Stock

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0.72	GM	General Motors Earnings Call Today	Pair Corr
0.68	GT	Goodyear Tire Rubber	Pair Corr
0.66	LI	Li Auto	Pair Corr
0.71	ZK	ZEEKR Intelligent	Pair Corr
0.82	DORM	Dorman Products	Pair Corr
0.67	ALV	Autoliv	Pair Corr
0.78	AXL	American Axle Manufa	Pair Corr
0.79	BWA	BorgWarner	Pair Corr
0.86	FOXF	Fox Factory Holding	Pair Corr
0.73	CPS	Cooper Stnd	Pair Corr
0.78	DAN	Dana Inc	Pair Corr
0.66	ECX	ECARX Holdings Class	Pair Corr
0.64	GTX	Garrett Motion Earnings Call This Week	Pair Corr
0.67	LEA	Lear Earnings Call This Week	Pair Corr
0.68	LOT	Lotus Technology American	Pair Corr
0.64	MGA	Magna International	Pair Corr
0.71	MOD	Modine Manufacturing Earnings Call This Week	Pair Corr
0.74	SMP	Standard Motor Products	Pair Corr
0.61	SRI	Stoneridge	Pair Corr
0.74	THO	Thor Industries	Pair Corr
0.61	VFS	VinFast Auto	Pair Corr

Moving against Harley Stock

0.59	ECDA	ECD Automotive Design	Pair Corr
0.41	EVTV	Envirotech Vehicles	Pair Corr
0.68	MULN	Mullen Automotive	Pair Corr

Related Correlations Analysis

	DHI	NBR	ACLS	DFH	PBNAF	GFF	RIG	ECG
DHI		0.49	0.64	0.96	0.62	0.84	0.27	0.49	DHI
NBR	0.49		0.56	0.54	0.54	0.44	0.75	0.41	NBR
ACLS	0.64	0.56		0.74	0.94	0.75	0.78	0.93	ACLS
DFH	0.96	0.54	0.74		0.71	0.91	0.35	0.6	DFH
PBNAF	0.62	0.54	0.94	0.71		0.67	0.73	0.9	PBNAF
GFF	0.84	0.44	0.75	0.91	0.67		0.35	0.69	GFF
RIG	0.27	0.75	0.78	0.35	0.73	0.35		0.71	RIG
ECG	0.49	0.41	0.93	0.6	0.9	0.69	0.71		ECG
	DHI	NBR	ACLS	DFH	PBNAF	GFF	RIG	ECG

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Risk-Adjusted Indicators

There is a big difference between Harley Stock performing well and Harley Davidson 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 Harley Davidson'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
DHI	1.58	0.00	0.01	0.13	1.80	(1.68)	3.59	(3.02)	9.97
NBR	3.71	0.03	0.01	0.16	4.47	(3.79)	7.65	(8.28)	17.51
ACLS	2.33	0.44	0.20	0.41	2.18	(2.73)	6.44	(4.54)	13.36
DFH	2.47	0.03	0.05	0.15	2.87	(2.53)	5.80	(5.41)	13.05
PBNAF	0.49	0.25	0.00	(4.86)	0.00	0.00	2.35	0.00	5.74
GFF	1.55	(0.07)	0.01	0.09	1.87	(1.61)	3.12	(3.31)	10.17
RIG	3.10	0.23	0.06	0.46	2.95	(3.63)	7.32	(4.47)	15.68
ECG	2.06	0.78	0.44	0.68	1.34	(2.77)	5.32	(1.97)	20.95

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