Preformed Line Correlations

PLPC Stock

USD 148.72 4.49 2.93%

The current 90-days correlation between Preformed Line Products and Powell Industries is 0.29 (i.e., Modest diversification). The correlation of Preformed Line 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.

Preformed Line Correlation With Market

Very weak diversification

The correlation between Preformed Line Products and DJI is 0.42 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Preformed Line Products and DJI in the same portfolio, assuming nothing else is changed.

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Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Preformed Line 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.

Moving together with Preformed Stock

0.91	BE	Bloom Energy Corp	Pair Corr
0.73	KE	Kimball Electronics	Pair Corr
0.78	ELVA	Electrovaya Common Shares	Pair Corr
0.8	ENVX	Enovix Corp	Pair Corr
0.65	FCEL	FuelCell Energy	Pair Corr
0.85	AYI	Acuity Brands	Pair Corr
0.89	ESP	Espey Mfg Electronics	Pair Corr
0.77	NVT	nVent Electric PLC	Pair Corr
0.89	SVT	Servotronics	Pair Corr
0.78	VRT	Vertiv Holdings Earnings Call This Week	Pair Corr
0.79	HUBB	Hubbell	Pair Corr
0.75	SLDPW	Solid Power	Pair Corr
0.88	PLUG	Plug Power Buyout Trend	Pair Corr

Moving against Preformed Stock

0.64	GWH	ESS Tech	Pair Corr
0.61	ENR	Energizer Holdings	Pair Corr
0.59	ELPW	Elong Power Holding	Pair Corr
0.58	GTI	Graphjet Technology	Pair Corr
0.36	EOSE	Eos Energy Enterprises Buyout Trend	Pair Corr
0.68	GAUZ	Gauzy Ordinary	Pair Corr
0.66	ADSEW	ADS TEC ENERGY	Pair Corr
0.63	LNKS	Linkers Industries	Pair Corr
0.74	OESX	Orion Energy Systems	Pair Corr
0.46	SKYX	SKYX Platforms Corp	Pair Corr
0.45	POLA	Polar Power	Pair Corr
0.31	ADSE	Ads Tec Energy	Pair Corr

Related Correlations Analysis

	POWL	KE	HAYW	NVT	PKOH	USLM	PFIS	OFLX
POWL		0.57	0.6	0.72	-0.16	0.39	0.68	0.63	POWL
KE	0.57		0.78	0.95	-0.48	0.75	0.92	0.77	KE
HAYW	0.6	0.78		0.81	0.01	0.83	0.85	0.68	HAYW
NVT	0.72	0.95	0.81		-0.44	0.74	0.94	0.81	NVT
PKOH	-0.16	-0.48	0.01	-0.44		-0.15	-0.28	-0.18	PKOH
USLM	0.39	0.75	0.83	0.74	-0.15		0.79	0.62	USLM
PFIS	0.68	0.92	0.85	0.94	-0.28	0.79		0.88	PFIS
OFLX	0.63	0.77	0.68	0.81	-0.18	0.62	0.88		OFLX
	POWL	KE	HAYW	NVT	PKOH	USLM	PFIS	OFLX

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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

NVT	+ 0.95	KE
PFIS	+ 0.94	NVT
PFIS	+ 0.92	KE
OFLX	+ 0.88	PFIS
PFIS	+ 0.85	HAYW
USLM	+ 0.83	HAYW

High negative correlations

PKOH	- 0.48	KE
PKOH	- 0.44	NVT
PFIS	- 0.28	PKOH
OFLX	- 0.18	PKOH
PKOH	- 0.16	POWL
USLM	- 0.15	PKOH

Risk-Adjusted Indicators

There is a big difference between Preformed Stock performing well and Preformed Line 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 Preformed Line's 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
POWL	2.57	0.22	0.11	0.24	2.64	(2.94)	5.54	(4.70)	14.81
KE	1.75	0.56	0.29	3.02	1.11	(2.21)	3.48	(2.58)	28.41
HAYW	1.44	0.11	0.10	0.22	1.31	(1.67)	3.88	(2.04)	8.95
NVT	1.50	0.46	0.38	0.43	0.86	(1.91)	3.98	(2.11)	11.41
PKOH	1.78	(0.39)	0.00	(0.14)	0.00	0.00	2.88	(4.22)	12.75
USLM	1.50	0.06	0.03	0.19	1.59	(1.60)	3.38	(2.73)	8.52
PFIS	1.49	0.22	0.16	0.30	1.24	(1.72)	4.01	(2.33)	7.45
OFLX	2.22	(0.06)	0.03	0.10	2.21	(2.65)	7.01	(4.19)	14.80

Preformed Line Corporate Management

Dennis McKenna	Executive VP of Global Bus. Devel.	Profile
Tie Koh	Vice Region	Profile
Caroline Vaccariello	General Counsel, Corporate Secretary	Profile
William III	Vice Region	Profile

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