Marine Products Correlations

MPX Stock

USD 8.38 0.12 1.41%

The current 90-days correlation between Marine Products and Hooker Furniture is 0.49 (i.e., Very weak diversification). The correlation of Marine Products 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Marine Products Correlation With Market

Weak diversification

The correlation between Marine Products and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Marine Products and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Marine Stock

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

For more information on how to buy Marine Stock please use our How to Invest in Marine Products guide.

Moving together with Marine Stock

0.69	BZH	Beazer Homes USA	Pair Corr
0.73	DFH	Dream Finders Homes Downward Rally	Pair Corr
0.73	DHI	DR Horton	Pair Corr
0.8	TPH	TRI Pointe Homes Earnings Call This Week	Pair Corr
0.72	MBUU	Malibu Boats	Pair Corr
0.72	MCFT	MCBC Holdings	Pair Corr
0.62	SONO	Sonos Inc	Pair Corr
0.78	F	Ford Motor Earnings Call This Week	Pair Corr
0.61	H	Hyatt Hotels Earnings Call This Week	Pair Corr
0.66	M	Macys Inc	Pair Corr
0.69	AN	AutoNation	Pair Corr

Moving against Marine Stock

0.52	DOGZ	Dogness International	Pair Corr
0.35	JD	JD Inc Adr Aggressive Push	Pair Corr
0.31	TM	Toyota Motor	Pair Corr

Related Correlations Analysis

	DOOO	HOFT	LCII	MBUU	MCFT	MSA	STLY	UFCS	WGO
DOOO		0.89	0.85	0.81	0.85	0.89	0.0	0.32	-0.27	DOOO
HOFT	0.89		0.83	0.86	0.86	0.89	0.0	0.37	-0.08	HOFT
LCII	0.85	0.83		0.95	0.94	0.93	0.0	0.27	0.07	LCII
MBUU	0.81	0.86	0.95		0.95	0.92	0.0	0.34	0.16	MBUU
MCFT	0.85	0.86	0.94	0.95		0.9	0.0	0.21	-0.04	MCFT
MSA	0.89	0.89	0.93	0.92	0.9		0.0	0.4	-0.05	MSA
STLY	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	STLY
UFCS	0.32	0.37	0.27	0.34	0.21	0.4	0.0		0.24	UFCS
WGO	-0.27	-0.08	0.07	0.16	-0.04	-0.05	0.0	0.24		WGO
	DOOO	HOFT	LCII	MBUU	MCFT	MSA	STLY	UFCS	WGO

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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

MBUU	+ 0.95	LCII
MCFT	+ 0.95	MBUU
MCFT	+ 0.94	LCII
MSA	+ 0.93	LCII
MSA	+ 0.92	MBUU
MSA	+ 0.9	MCFT

High negative correlations

WGO	- 0.27	DOOO
WGO	- 0.08	HOFT
WGO	- 0.05	MSA
WGO	- 0.04	MCFT
WGO	- 0.0	STLY
UFCS	- 0.0	STLY

Risk-Adjusted Indicators

There is a big difference between Marine Stock performing well and Marine Products 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 Marine Products' 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
DOOO	1.93	0.28	0.14	0.35	1.87	(2.19)	4.42	(2.95)	16.13
HOFT	3.35	0.34	0.10	0.36	3.41	(3.97)	11.74	(5.91)	25.45
LCII	1.66	0.23	0.14	0.37	1.35	(1.95)	3.78	(2.59)	10.06
MBUU	2.06	0.09	0.08	0.18	2.08	(2.46)	3.99	(3.79)	16.97
MCFT	2.01	0.24	0.11	0.34	1.86	(2.27)	3.80	(3.18)	16.70
MSA	0.96	0.18	0.17	0.35	0.62	(1.18)	2.55	(1.48)	5.35
STLY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
UFCS	1.18	(0.06)	(0.05)	0.06	1.70	(1.10)	2.79	(2.47)	7.87
WGO	2.20	(0.19)	(0.04)	0.00	3.12	(2.20)	4.06	(5.52)	17.76

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