Patrick Industries Correlations

PATK Stock

USD 100.70 1.49 1.50%

The current 90-days correlation between Patrick Industries and CarGurus is 0.56 (i.e., Very weak 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

Very weak diversification

The correlation between Patrick Industries and DJI is 0.45 (i.e., Very weak 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.

Build AI portfolio with Patrick Stock

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Patrick Industries. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

For more information on how to buy Patrick Stock please use our How to buy in Patrick Stock guide.

Moving together with Patrick Stock

0.85	OC	Owens Corning	Pair Corr
0.85	FBIN	Fortune Brands Innov	Pair Corr
0.62	AOS	Smith AO Earnings Call This Week	Pair Corr
0.93	MAS	Masco Earnings Call This Week	Pair Corr
0.85	SSD	Simpson Manufacturing Earnings Call This Week	Pair Corr
0.92	JELD	Jeld Wen Holding	Pair Corr
0.61	300093	Gansu Golden Glass	Pair Corr

Moving against Patrick Stock

0.7	CNR	Core Natural Resources, Symbol Change	Pair Corr
0.57	FAN	Volution Group plc	Pair Corr
0.34	TT	Trane Technologies plc Earnings Call This Week	Pair Corr
0.63	603828	Suzhou Kelida Bldg	Pair Corr
0.41	002084	Guangzhou Seagull Kitchen	Pair Corr
0.32	603208	Jiangshan Oupai Door	Pair Corr
0.31	NXR	Norcros Plc	Pair Corr

Related Correlations Analysis

	CARG	HOG	RRR	RH	AAP	GEF	ANF	VC	BRSL
CARG		0.69	0.47	-0.13	0.41	-0.66	-0.45	0.5	0.8	CARG
HOG	0.69		0.75	0.36	0.48	-0.33	-0.03	0.87	0.68	HOG
RRR	0.47	0.75		0.37	0.44	-0.12	0.22	0.72	0.49	RRR
RH	-0.13	0.36	0.37		0.54	0.54	0.7	0.65	-0.23	RH
AAP	0.41	0.48	0.44	0.54		0.18	0.21	0.58	0.24	AAP
GEF	-0.66	-0.33	-0.12	0.54	0.18		0.5	-0.01	-0.63	GEF
ANF	-0.45	-0.03	0.22	0.7	0.21	0.5		0.28	-0.46	ANF
VC	0.5	0.87	0.72	0.65	0.58	-0.01	0.28		0.46	VC
BRSL	0.8	0.68	0.49	-0.23	0.24	-0.63	-0.46	0.46		BRSL
	CARG	HOG	RRR	RH	AAP	GEF	ANF	VC	BRSL

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

VC	+ 0.87	HOG
BRSL	+ 0.8	CARG
RRR	+ 0.75	HOG
VC	+ 0.72	RRR
ANF	+ 0.7	RH
HOG	+ 0.69	CARG

High negative correlations

GEF	- 0.66	CARG
BRSL	- 0.63	GEF
BRSL	- 0.46	ANF
ANF	- 0.45	CARG
GEF	- 0.33	HOG
BRSL	- 0.23	RH

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
CARG	1.40	0.04	0.03	0.09	1.93	(1.44)	2.94	(2.24)	10.48
HOG	1.84	0.14	0.07	0.15	2.20	(2.07)	5.91	(4.21)	19.86
RRR	1.36	0.19	0.11	0.36	1.38	(1.48)	2.92	(2.54)	12.25
RH	2.82	(0.42)	0.00	(0.06)	0.00	0.00	6.70	(5.33)	18.39
AAP	2.38	(0.31)	0.00	(0.09)	0.00	0.00	5.18	(4.95)	14.68
GEF	1.02	(0.19)	0.00	(0.17)	0.00	0.00	1.78	(2.46)	8.12
ANF	2.12	(0.41)	0.00	0.66	0.00	0.00	5.29	(4.62)	16.65
VC	1.30	(0.07)	(0.04)	0.01	1.37	(1.75)	2.90	(2.69)	8.86
BRSL	1.41	0.18	0.14	0.20	1.25	(1.72)	2.97	(2.07)	11.17

Patrick Industries Corporate Management

Attorney Duthie	Chief VP	Profile
Charlie Roeder	Executive Officer	Profile
Steve OHara	Vice Relations	Profile
Julie Kotowski	Director Relations	Profile

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