Shimmick Common Correlations

SHIM Stock

2.16 0.11 4.85%

A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Shimmick Common moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Shimmick Common moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Shimmick Common Correlation With Market

Very weak diversification

The correlation between Shimmick Common and DJI is 0.4 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Shimmick Common and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Shimmick Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Shimmick Common. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

To learn how to invest in Shimmick Stock, please use our How to Invest in Shimmick Common guide.

Moving together with Shimmick Stock

0.8	J	Jacobs Solutions	Pair Corr
0.76	WLDN	Willdan Group	Pair Corr
0.73	EME	EMCOR Group Earnings Call This Week	Pair Corr
0.61	FIX	Comfort Systems USA Earnings Call This Week	Pair Corr
0.67	FLR	Fluor	Pair Corr
0.61	PWR	Quanta Services	Pair Corr
0.69	TIC	Acuren	Pair Corr
0.61	TPC	Tutor Perini	Pair Corr
0.64	IESC	IES Holdings	Pair Corr
0.69	MTRX	Matrix Service	Pair Corr
0.62	MYRG	MYR Group	Pair Corr
0.71	PRIM	Primoris Services	Pair Corr
0.63	AMRC	Ameresco	Pair Corr
0.74	SLND	Southland Holdings	Pair Corr

Moving against Shimmick Stock

0.56	WLGS	Wang Lee Group,	Pair Corr
0.47	EXPO	Exponent Earnings Call This Week	Pair Corr
0.41	FGL	Founder Group Limited	Pair Corr
0.37	SKK	PROSHARES ULTRASHORT	Pair Corr
0.69	SKBL	Skyline Builders	Pair Corr

Related Correlations Analysis

	SBKO	TS	ECPG	SDSDF	PTEN	PDS	EGDFF	AKTAF
SBKO		0.81	0.59	0.0	0.34	0.68	0.0	0.8	SBKO
TS	0.81		0.64	0.0	0.68	0.92	0.0	0.92	TS
ECPG	0.59	0.64		0.0	0.44	0.52	0.0	0.59	ECPG
SDSDF	0.0	0.0	0.0		0.0	0.0	0.0	0.0	SDSDF
PTEN	0.34	0.68	0.44	0.0		0.78	0.0	0.5	PTEN
PDS	0.68	0.92	0.52	0.0	0.78		0.0	0.86	PDS
EGDFF	0.0	0.0	0.0	0.0	0.0	0.0		0.0	EGDFF
AKTAF	0.8	0.92	0.59	0.0	0.5	0.86	0.0		AKTAF
	SBKO	TS	ECPG	SDSDF	PTEN	PDS	EGDFF	AKTAF

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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

PDS	+ 0.92	TS
AKTAF	+ 0.92	TS
AKTAF	+ 0.86	PDS
TS	+ 0.81	SBKO
AKTAF	+ 0.8	SBKO
PDS	+ 0.78	PTEN

High negative correlations

AKTAF	- 0.0	EGDFF
EGDFF	- 0.0	PDS
EGDFF	- 0.0	PTEN
AKTAF	- 0.0	SDSDF
EGDFF	- 0.0	SDSDF
PDS	- 0.0	SDSDF

Risk-Adjusted Indicators

There is a big difference between Shimmick Stock performing well and Shimmick Common 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 Shimmick Common'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
SBKO	0.37	0.06	(0.07)	5.93	0.38	(0.83)	1.11	(0.74)	4.65
TS	1.21	0.23	0.11	1.16	0.94	(1.46)	2.43	(1.99)	8.08
ECPG	2.02	0.27	0.15	0.32	1.96	(2.40)	3.61	(2.72)	28.93
SDSDF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PTEN	2.26	0.00	(0.01)	0.13	2.72	(2.51)	4.54	(4.88)	12.84
PDS	1.80	0.27	0.09	0.87	1.77	(2.00)	4.29	(3.60)	11.40
EGDFF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AKTAF	1.60	0.57	0.21	(3.29)	1.16	(2.51)	4.20	(2.33)	10.02

Shimmick Common Corporate Management

Steven Richards	Chief Officer	Profile
Devin Nordhagen	Executive Officer	Profile
Jose Penalver	Vice Operations	Profile
Amanda Mobley	Executive Officer	Profile

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