Motorcar Parts Correlations

MPAA Stock

USD 11.06 0.44 3.83%

The current 90-days correlation between Motorcar Parts and Monro Muffler Brake is 0.03 (i.e., Significant diversification). The correlation of Motorcar Parts 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.

Motorcar Parts Correlation With Market

Modest diversification

The correlation between Motorcar Parts of and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Motorcar Parts of and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Motorcar Stock

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

Moving together with Motorcar Stock

0.75	F	Ford Motor Earnings Call This Week	Pair Corr
0.8	GM	General Motors Earnings Call This Week	Pair Corr
0.67	LI	Li Auto	Pair Corr
0.69	VC	Visteon Corp Earnings Call This Week	Pair Corr
0.71	ZK	ZEEKR Intelligent	Pair Corr
0.69	DORM	Dorman Products	Pair Corr
0.78	ALV	Autoliv	Pair Corr
0.72	AXL	American Axle Manufa	Pair Corr
0.84	BWA	BorgWarner	Pair Corr
0.86	FOXF	Fox Factory Holding	Pair Corr
0.67	CPS	Cooper Stnd	Pair Corr
0.77	DAN	Dana Inc	Pair Corr
0.72	ECX	ECARX Holdings Class	Pair Corr
0.74	MBLY	Mobileye Global Class	Pair Corr
0.75	ECXWW	ECARX Holdings Warrants	Pair Corr
0.74	NWTN	NWTN Class B	Pair Corr
0.81	H	Hyatt Hotels Earnings Call This Week	Pair Corr
0.7	M	Macys Inc	Pair Corr
0.76	W	Wayfair	Pair Corr
0.74	AN	AutoNation	Pair Corr
0.84	AS	Amer Sports,	Pair Corr
0.77	BC	Brunswick Earnings Call This Week	Pair Corr
0.67	BH	Biglari Holdings	Pair Corr
0.81	FL	Foot Locker	Pair Corr

Moving against Motorcar Stock

0.67	MULN	Mullen Automotive	Pair Corr
0.61	EVTV	Envirotech Vehicles	Pair Corr
0.6	ECDA	ECD Automotive Design	Pair Corr
0.32	TM	Toyota Motor	Pair Corr
0.72	SG	Sweetgreen	Pair Corr
0.6	DNUT	Krispy Kreme	Pair Corr
0.47	JD	JD Inc Adr Aggressive Push	Pair Corr

Related Correlations Analysis

	MNRO	SMP	SRI	PLOW	DORM	SUP	THRM	VC	CVGI
MNRO		0.45	0.6	0.43	0.18	-0.51	0.46	0.45	0.55	MNRO
SMP	0.45		0.9	0.95	0.74	-0.81	0.95	0.88	0.89	SMP
SRI	0.6	0.9		0.91	0.5	-0.8	0.92	0.92	0.94	SRI
PLOW	0.43	0.95	0.91		0.76	-0.85	0.91	0.85	0.91	PLOW
DORM	0.18	0.74	0.5	0.76		-0.65	0.61	0.42	0.58	DORM
SUP	-0.51	-0.81	-0.8	-0.85	-0.65		-0.77	-0.71	-0.78	SUP
THRM	0.46	0.95	0.92	0.91	0.61	-0.77		0.95	0.93	THRM
VC	0.45	0.88	0.92	0.85	0.42	-0.71	0.95		0.91	VC
CVGI	0.55	0.89	0.94	0.91	0.58	-0.78	0.93	0.91		CVGI
	MNRO	SMP	SRI	PLOW	DORM	SUP	THRM	VC	CVGI

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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

PLOW	+ 0.95	SMP
THRM	+ 0.95	SMP
VC	+ 0.95	THRM
CVGI	+ 0.94	SRI
CVGI	+ 0.93	THRM
THRM	+ 0.92	SRI

High negative correlations

SUP	- 0.85	PLOW
SUP	- 0.81	SMP
SUP	- 0.8	SRI
CVGI	- 0.78	SUP
THRM	- 0.77	SUP
VC	- 0.71	SUP

Risk-Adjusted Indicators

There is a big difference between Motorcar Stock performing well and Motorcar Parts 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 Motorcar Parts' 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
MNRO	3.00	(0.03)	0.01	0.11	3.36	(3.58)	6.48	(5.17)	37.83
SMP	1.49	0.40	0.22	0.54	1.30	(1.68)	3.37	(2.84)	15.20
SRI	3.10	0.60	0.22	0.38	2.86	(3.82)	7.24	(6.24)	18.64
PLOW	1.36	0.24	0.18	0.42	0.95	(1.79)	2.83	(1.63)	8.21
DORM	1.25	(0.02)	(0.01)	0.11	1.69	(1.20)	2.14	(2.78)	10.18
SUP	7.97	(3.41)	0.00	24.37	0.00	0.00	9.52	(23.25)	81.65
THRM	1.52	0.27	0.14	0.42	1.45	(1.77)	4.33	(2.76)	9.76
VC	1.61	0.56	0.34	0.66	1.11	(2.00)	4.59	(2.31)	10.00
CVGI	5.02	0.70	0.20	0.32	4.52	(5.86)	12.61	(7.78)	23.87

Motorcar Parts Corporate Management

Glenn JD	General VP	Profile
Jack Vollbrecht	Sr Relations	Profile
Juliet Stone	Senior Projects	Profile
Jamie Cook	Senior Marketing	Profile
Richard Mochulsky	Senior Development	Profile
Gary Maier	IR Contact Officer	Profile

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