Hubbell Correlations

HUBB Stock

USD 430.28 6.95 1.59%

The current 90-days correlation between Hubbell and nVent Electric PLC is 0.74 (i.e., Poor diversification). The correlation of Hubbell 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.

Hubbell Correlation With Market

Poor diversification

The correlation between Hubbell and DJI is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hubbell and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Hubbell Stock

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

For information on how to trade Hubbell Stock refer to our How to Trade Hubbell Stock guide.

Moving together with Hubbell Stock

0.87	BE	Bloom Energy Corp	Pair Corr
0.9	KE	Kimball Electronics	Pair Corr
0.9	ELVA	Electrovaya Common Shares	Pair Corr
0.86	ENVX	Enovix Corp	Pair Corr
0.67	FCEL	FuelCell Energy	Pair Corr
0.92	AYI	Acuity Brands	Pair Corr
0.94	ESP	Espey Mfg Electronics	Pair Corr
0.95	NVT	nVent Electric PLC	Pair Corr
0.76	SVT	Servotronics	Pair Corr
0.95	VRT	Vertiv Holdings Earnings Call This Week	Pair Corr
0.73	HAYW	Hayward Holdings	Pair Corr
0.77	LTBR	Lightbridge Corp	Pair Corr
0.73	MVST	Microvast Holdings Buyout Trend	Pair Corr
0.72	NEOV	NeoVolta Common Stock	Pair Corr
0.78	OPTT	Ocean Power Technologies	Pair Corr
0.78	SLDPW	Solid Power	Pair Corr
0.67	MVSTW	Microvast Holdings	Pair Corr
0.79	PLPC	Preformed Line Products	Pair Corr
0.72	PLUG	Plug Power Buyout Trend	Pair Corr

Moving against Hubbell Stock

0.7	ENR	Energizer Holdings	Pair Corr
0.47	GWH	ESS Tech	Pair Corr
0.36	ELPW	Elong Power Holding	Pair Corr
0.75	ADSEW	ADS TEC ENERGY	Pair Corr
0.56	GAUZ	Gauzy Ordinary	Pair Corr
0.5	STI	Solidion Technology	Pair Corr
0.33	LNKS	Linkers Industries	Pair Corr
0.65	POLA	Polar Power	Pair Corr
0.51	OESX	Orion Energy Systems	Pair Corr
0.42	ADSE	Ads Tec Energy	Pair Corr

Related Correlations Analysis

	NVT	ENS	AYI	KE	IEX	LII	GATX	CSL	LECO
NVT		0.25	0.94	0.95	0.66	0.64	0.75	0.56	0.93	NVT
ENS	0.25		0.26	0.25	0.73	0.51	-0.02	0.6	0.18	ENS
AYI	0.94	0.26		0.89	0.56	0.69	0.75	0.57	0.94	AYI
KE	0.95	0.25	0.89		0.67	0.58	0.73	0.5	0.87	KE
IEX	0.66	0.73	0.56	0.67		0.66	0.27	0.79	0.53	IEX
LII	0.64	0.51	0.69	0.58	0.66		0.4	0.83	0.68	LII
GATX	0.75	-0.02	0.75	0.73	0.27	0.4		0.21	0.8	GATX
CSL	0.56	0.6	0.57	0.5	0.79	0.83	0.21		0.57	CSL
LECO	0.93	0.18	0.94	0.87	0.53	0.68	0.8	0.57		LECO
	NVT	ENS	AYI	KE	IEX	LII	GATX	CSL	LECO

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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

KE	+ 0.95	NVT
AYI	+ 0.94	NVT
LECO	+ 0.94	AYI
LECO	+ 0.93	NVT
KE	+ 0.89	AYI
LECO	+ 0.87	KE

High negative correlations

GATX

- 0.02

ENS

Risk-Adjusted Indicators

There is a big difference between Hubbell Stock performing well and Hubbell 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 Hubbell'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
NVT	1.50	0.46	0.38	0.43	0.86	(1.91)	3.98	(2.11)	11.41
ENS	1.55	(0.06)	0.00	0.09	2.99	(1.57)	3.68	(2.68)	20.91
AYI	1.31	0.17	0.16	0.28	0.96	(1.74)	3.95	(1.90)	8.83
KE	1.75	0.56	0.29	3.02	1.11	(2.21)	3.48	(2.58)	28.41
IEX	1.16	(0.04)	0.00	0.10	1.15	(1.51)	3.54	(2.13)	8.03
LII	1.38	0.01	0.01	0.14	2.26	(1.36)	3.01	(2.24)	12.29
GATX	1.06	0.11	(0.03)	(0.46)	1.31	(1.07)	2.02	(1.79)	11.39
CSL	1.28	0.07	0.07	0.19	1.28	(1.54)	3.13	(2.71)	9.88
LECO	1.25	0.16	0.12	0.26	1.25	(1.35)	2.95	(2.05)	8.18

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