Harley Davidson Correlations

HOG Stock

USD 23.31 0.47 1.98%

The current 90-days correlation between Harley Davidson and Vornado Realty Trust is 0.31 (i.e., 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

Poor diversification

The correlation between Harley Davidson and DJI is 0.63 (i.e., Poor 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

0.68	GM	General Motors	Pair Corr
0.7	LI	Li Auto	Pair Corr
0.75	QS	Quantumscape Corp	Pair Corr
0.8	VC	Visteon Corp	Pair Corr
0.66	ZK	ZEEKR Intelligent Buyout Trend	Pair Corr
0.7	DORM	Dorman Products	Pair Corr
0.66	ECDA	ECD Automotive Design	Pair Corr
0.63	WKHS	Workhorse Group Earnings Call This Week	Pair Corr
0.61	FLYE	Fly E Group,	Pair Corr
0.7	ALV	Autoliv	Pair Corr
0.8	AXL	American Axle Manufa	Pair Corr
0.68	BWA	BorgWarner	Pair Corr
0.84	FOXF	Fox Factory Holding	Pair Corr
0.73	DAN	Dana Inc	Pair Corr
0.7	ECX	ECARX Holdings Class	Pair Corr
0.75	GGR	Gogoro Inc	Pair Corr
0.84	LEA	Lear	Pair Corr
0.73	LOT	Lotus Technology American	Pair Corr
0.82	MGA	Magna International	Pair Corr
0.66	NIO	Nio Class A	Pair Corr
0.65	SEG	Seaport Entertainment	Pair Corr
0.65	SMP	Standard Motor Products	Pair Corr
0.67	THO	Thor Industries	Pair Corr
0.81	WGO	Winnebago Industries	Pair Corr

Moving against Harley Stock

0.43	SUP	Superior Industries	Pair Corr
0.4	ECDAW	ECD Automotive Design	Pair Corr

Related Correlations Analysis

	VNO-PL	HTB	HMST	SHOM	CRESY	SLTTF	FLYX	TFSVF
VNO-PL		0.53	-0.55	0.0	-0.01	0.23	0.31	0.0	VNO-PL
HTB	0.53		-0.09	0.0	0.32	0.43	0.59	0.0	HTB
HMST	-0.55	-0.09		0.0	0.24	0.02	-0.34	0.0	HMST
SHOM	0.0	0.0	0.0		0.0	0.0	0.0	1.0	SHOM
CRESY	-0.01	0.32	0.24	0.0		0.45	0.09	0.0	CRESY
SLTTF	0.23	0.43	0.02	0.0	0.45		0.4	0.0	SLTTF
FLYX	0.31	0.59	-0.34	0.0	0.09	0.4		0.0	FLYX
TFSVF	0.0	0.0	0.0	1.0	0.0	0.0	0.0		TFSVF
	VNO-PL	HTB	HMST	SHOM	CRESY	SLTTF	FLYX	TFSVF

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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

TFSVF	+ 1.0	SHOM
FLYX	+ 0.59	HTB
HTB	+ 0.53	VNO-PL
SLTTF	+ 0.45	CRESY
SLTTF	+ 0.43	HTB
FLYX	+ 0.4	SLTTF

High negative correlations

HMST	- 0.55	VNO-PL
FLYX	- 0.34	HMST
HMST	- 0.09	HTB
CRESY	- 0.01	VNO-PL
TFSVF	- 0.0	FLYX
TFSVF	- 0.0	SLTTF

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
VNO-PL	0.87	0.07	0.12	0.06	1.12	(0.96)	1.92	(2.13)	5.39
HTB	1.22	0.04	0.00	(0.06)	0.00	0.00	2.83	(2.95)	10.89
HMST	2.24	0.47	0.16	0.33	2.35	(2.63)	3.87	(4.00)	35.47
SHOM	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CRESY	2.45	(0.08)	0.00	(0.21)	0.00	0.00	5.87	(5.57)	14.27
SLTTF	1.36	(0.03)	0.00	(0.81)	0.00	0.00	5.71	(5.41)	27.86
FLYX	3.79	(0.06)	0.00	(0.24)	0.00	0.00	8.26	(8.36)	21.59
TFSVF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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