Multi Ways Correlations
| MWG Stock | 0.29 0 1.17% |
The current 90-days correlation between Multi Ways Holdings and African Discovery Group is 0.3 (i.e., Weak diversification). The correlation of Multi Ways 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.
Multi Ways Correlation With Market
Average diversification
The correlation between Multi Ways Holdings and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Multi Ways Holdings and DJI in the same portfolio, assuming nothing else is changed.
Moving against Multi Stock
| 0.48 | PRG | PROG Holdings | PairCorr |
| 0.45 | ZCAR | Zoomcar Holdings | PairCorr |
| 0.44 | CAR | Avis Budget Group | PairCorr |
| 0.44 | URI | United Rentals | PairCorr |
| 0.41 | HRI | Herc Holdings | PairCorr |
| 0.39 | VSTS | Vestis | PairCorr |
| 0.39 | WSC | Willscot Mobile Mini Sell-off Trend | PairCorr |
| 0.31 | FPAY | FlexShopper | PairCorr |
| 0.54 | BV | BrightView Holdings | PairCorr |
| 0.52 | DY | Dycom Industries | PairCorr |
| 0.5 | ALTG | Alta Equipment Group Earnings Call Shortly | PairCorr |
| 0.45 | GP | GreenPower Motor | PairCorr |
| 0.41 | CW | Curtiss Wright | PairCorr |
| 0.4 | J | Jacobs Solutions Sell-off Trend | PairCorr |
| 0.38 | CP | Canadian Pacific Railway | PairCorr |
| 0.38 | HI | Hillenbrand | PairCorr |
| 0.37 | BW | Babcock Wilcox Enter Earnings Call Shortly | PairCorr |
| 0.37 | CR | Crane Company | PairCorr |
| 0.37 | FA | First Advantage Corp Earnings Call Shortly | PairCorr |
| 0.36 | IR | Ingersoll Rand | PairCorr |
| 0.35 | HY | Hyster Yale Materials Earnings Call Shortly | PairCorr |
Related Correlations Analysis
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Multi Stock performing well and Multi Ways 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 Multi Ways' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| FPAY | 3.25 | 0.17 | 0.00 | (0.01) | 0.00 | 7.19 | 32.38 | |||
| HTZ | 6.14 | 1.07 | 0.26 | (0.73) | 4.85 | 16.44 | 61.41 | |||
| HYREQ | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| CAR | 4.07 | 0.04 | 0.07 | (0.18) | 4.51 | 11.64 | 29.94 | |||
| PRG | 2.63 | (0.44) | 0.00 | (0.53) | 0.00 | 3.46 | 31.01 | |||
| AAN | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| FTAIN | 0.48 | 0.00 | 0.18 | (0.18) | 0.83 | 0.99 | 3.43 | |||
| ASHTY | 1.77 | (0.34) | 0.00 | 1.90 | 0.00 | 2.26 | 20.86 | |||
| ASHTF | 2.10 | (0.25) | 0.00 | (1.00) | 0.00 | 5.45 | 14.02 |