Shyft Correlations

Delisted . USA . 
Stock . Shyft Group
SHYFDelisted Stock  USD 12.54  0.00  0.00%   
The current 90-days correlation between Shyft Group and Gencor Industries is -0.02 (i.e., Good diversification). The correlation of Shyft 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.

Shyft Correlation With Market

Modest diversification

The correlation between Shyft Group and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Shyft Group and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios. 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.

Moving together with Shyft Stock

  0.87ALG Alamo GroupPairCorr
  0.9CAT CaterpillarPairCorr
  0.67CNH CNH Industrial NV Sell-off TrendPairCorr
  0.63LNN LindsayPairCorr
  0.83MTW ManitowocPairCorr
  0.92OSK OshkoshPairCorr
  0.76TEX TerexPairCorr
  0.9TWI Titan InternationalPairCorr
  0.68WNC Wabash National Earnings Call This WeekPairCorr
  0.76GENC Gencor IndustriesPairCorr
  0.67PCAR PACCAR Inc Earnings Call This WeekPairCorr
  0.89REVG Rev GroupPairCorr
  0.67AGCO AGCOPairCorr
  0.84ARTW Arts Way ManufacturingPairCorr
  0.85J Jacobs SolutionsPairCorr
  0.84R Ryder System Earnings Call This WeekPairCorr
  0.86DIST Distoken AcquisitionPairCorr
  0.66AL Air LeasePairCorr
  0.64AP Ampco PittsburghPairCorr
  0.89AZ A2Z Smart TechnologiesPairCorr
  0.74BA BoeingPairCorr
  0.91BE Bloom Energy CorpPairCorr
  0.75BW Babcock Wilcox EnterPairCorr
  0.67BZ Kanzhun Ltd ADRPairCorr
  0.63CP Canadian Pacific RailwayPairCorr
  0.76CR Crane CompanyPairCorr
  0.86CW Curtiss WrightPairCorr
  0.86DY Dycom IndustriesPairCorr
  0.89GD General Dynamics Earnings Call This WeekPairCorr

Moving against Shyft Stock

  0.72UGRO Urban GroPairCorr
  0.9NL NL IndustriesPairCorr
  0.88PC Premium CateringPairCorr

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   
CVLG
+ 0.96
ALG
ALG
+ 0.95
REVG
CVLG
+ 0.93
MYRG
CVLG
+ 0.92
REVG
ALG
+ 0.92
GENC
CVLG
+ 0.92
GENC
  
High negative correlations   
CLGN
- 0.58
REVG
CLGN
- 0.54
WNC
CLGN
- 0.5
MYRG
CLGN
- 0.5
ALG
CVLG
- 0.47
CLGN
CLGN
- 0.43
GENC

Risk-Adjusted Indicators

There is a big difference between Shyft Stock performing well and Shyft 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 Shyft'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.

Shyft Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Shyft stock to make a market-neutral strategy. Peer analysis of Shyft could also be used in its relative valuation, which is a method of valuing Shyft by comparing valuation metrics with similar companies.
 Risk & Return  Correlation

Shyft Corporate Management

Scott OcholikChief VPProfile
Samara HamiltonVP CommunicationsProfile
Juris PagrabsDirector TreasurerProfile
Joshua SherbinChief SecretaryProfile
Thomas KivellConsultantProfile
Carrie WrightChief OfficerProfile
Todd HeavinChief OfficerProfile

Still Interested in Shyft Group?

Investing in delisted delisted stocks can be risky, as the stock is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.
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