Patrick Industries Correlations
| PATK Stock | USD 82.92 0.09 0.11% |
The current 90-days correlation between Patrick Industries and Bassett Furniture Industries is 0.28 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Patrick Industries moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Patrick Industries moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Patrick Industries Correlation With Market
Poor diversification
The correlation between Patrick Industries and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Patrick Industries and DJI in the same portfolio, assuming nothing else is changed.
Moving together with Patrick Stock
| 0.96 | SN | SharkNinja, Earnings Call This Week | PairCorr |
| 0.92 | FLXS | Flexsteel Industries | PairCorr |
| 0.8 | FGI | FGI Industries | PairCorr |
| 0.67 | SGI | Somnigroup International Symbol Change | PairCorr |
| 0.91 | WHR | Whirlpool | PairCorr |
| 0.92 | KEQU | Kewaunee Scientific | PairCorr |
| 0.75 | LCUT | Lifetime Brands Earnings Call This Week | PairCorr |
| 0.93 | MLKN | MillerKnoll | PairCorr |
| 0.93 | COOK | Traeger | PairCorr |
| 0.91 | CRWS | Crown Crafts | PairCorr |
| 0.94 | H | Hyatt Hotels Earnings Call This Week | PairCorr |
| 0.94 | M | Macys Inc Earnings Call Tomorrow | PairCorr |
| 0.95 | DIBS | 1StdibsCom Earnings Call This Week | PairCorr |
| 0.8 | AN | AutoNation | PairCorr |
| 0.92 | AS | Amer Sports, | PairCorr |
| 0.85 | EM | Smart Share Global | PairCorr |
| 0.87 | IP | International Paper | PairCorr |
| 0.75 | MI | NFT Limited | PairCorr |
| 0.93 | QS | Quantumscape Corp | PairCorr |
| 0.94 | SW | Smurfit WestRock plc | PairCorr |
| 0.92 | UA | Under Armour C | PairCorr |
| 0.74 | WW | WW International | PairCorr |
| 0.88 | DKNG | DraftKings | PairCorr |
| 0.84 | DLTH | Duluth Holdings | PairCorr |
| 0.81 | DORM | Dorman Products | PairCorr |
| 0.76 | VIRC | Virco Manufacturing | PairCorr |
Moving against Patrick Stock
Related Correlations Analysis
| -0.37 | -0.28 | -0.65 | 0.0 | 0.26 | -0.69 | BSET | ||
| -0.37 | 0.01 | 0.5 | 0.0 | -0.52 | 0.6 | ETD | ||
| -0.28 | 0.01 | 0.31 | 0.0 | 0.31 | 0.49 | NTZ | ||
| -0.65 | 0.5 | 0.31 | 0.0 | -0.36 | 0.75 | FLXS | ||
| 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | KBAL | ||
| 0.26 | -0.52 | 0.31 | -0.36 | 0.0 | -0.11 | HBB | ||
| -0.69 | 0.6 | 0.49 | 0.75 | 0.0 | -0.11 | HOFT | ||
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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 Patrick Stock performing well and Patrick Industries 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 Patrick Industries' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| BSET | 1.99 | 0.42 | 0.17 | 0.66 | 2.43 | 4.39 | 17.77 | |||
| ETD | 1.52 | 0.00 | 0.00 | (0.12) | 0.00 | 3.18 | 11.62 | |||
| NTZ | 2.79 | (0.09) | 0.00 | (0.19) | 0.00 | 5.26 | 23.35 | |||
| FLXS | 2.63 | (0.89) | 0.00 | (1.07) | 0.00 | 4.29 | 18.03 | |||
| KBAL | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| HBB | 2.82 | 0.00 | 0.00 | (0.12) | 0.00 | 5.34 | 35.66 | |||
| HOFT | 2.36 | (0.40) | 0.00 | (0.95) | 0.00 | 3.85 | 20.15 |
Patrick Industries Corporate Management
| Jacob Petkovich | CFO, Officer | Profile | |
| Attorney Duthie | Chief VP | Profile | |
| Charlie Roeder | Executive Officer | Profile | |
| Steve OHara | Vice Relations | Profile | |
| Julie Kotowski | Director Relations | Profile |