Standard Correlations

SMP Stock

USD 39.59 0.24 0.61%

The current 90-days correlation between Standard Motor Products and Dorman Products is 0.77 (i.e., Poor diversification). The correlation of Standard 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Standard Correlation With Market

Very weak diversification

The correlation between Standard Motor Products and DJI is 0.51 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Standard Motor Products and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Standard Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Standard Motor 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 industry.

Moving together with Standard Stock

0.92	MPAA	Motorcar Parts	Pair Corr
0.68	TLKMF	Telkom Indonesia Tbk	Pair Corr
0.8	TLK	Telkom Indonesia Tbk	Pair Corr
0.61	PTBRY	Bank Negara Indonesia	Pair Corr
0.69	NTIP	Network 1 Technologies	Pair Corr
0.92	FNMFO	Federal National Mortgage	Pair Corr
0.75	TR	Tootsie Roll Industries	Pair Corr
0.77	UI	Ubiquiti Networks	Pair Corr
0.7	FARO	FARO Technologies	Pair Corr
0.9	ACSAY	ACS Actividades De	Pair Corr
0.67	RR	Richtech Robotics Class Trending	Pair Corr
0.8	94986RYP0	US94986RYP09	Pair Corr
0.91	HD	Home Depot	Pair Corr
0.61	HWH	HWH International	Pair Corr
0.72	PBNAF	Pembina Pipeline	Pair Corr
0.88	DOMH	Dominari Holdings	Pair Corr
0.68	BMEZ	BlackRock Health Sciences	Pair Corr
0.68	PYTCF	Playtech plc	Pair Corr
0.88	DSVSF	Discovery Metals Corp	Pair Corr

Moving against Standard Stock

0.67	BKRKF	PT Bank Rakyat	Pair Corr
0.63	PBCRF	PT Bank Central	Pair Corr
0.61	PBCRY	Bank Central Asia	Pair Corr
0.6	PPERF	Bank Mandiri Persero	Pair Corr
0.41	PPERY	Bank Mandiri Persero	Pair Corr

Related Correlations Analysis

	DORM	MPAA	PLOW	SRI	MNRO	CPS	LEA	CVGI	GNTX
DORM		0.85	0.92	0.51	0.71	0.9	0.46	-0.28	0.82	DORM
MPAA	0.85		0.76	0.35	0.91	0.91	0.4	-0.24	0.72	MPAA
PLOW	0.92	0.76		0.61	0.65	0.8	0.63	-0.11	0.64	PLOW
SRI	0.51	0.35	0.61		0.32	0.44	0.32	0.1	0.57	SRI
MNRO	0.71	0.91	0.65	0.32		0.84	0.45	-0.15	0.6	MNRO
CPS	0.9	0.91	0.8	0.44	0.84		0.47	-0.33	0.79	CPS
LEA	0.46	0.4	0.63	0.32	0.45	0.47		0.17	0.03	LEA
CVGI	-0.28	-0.24	-0.11	0.1	-0.15	-0.33	0.17		-0.37	CVGI
GNTX	0.82	0.72	0.64	0.57	0.6	0.79	0.03	-0.37		GNTX
	DORM	MPAA	PLOW	SRI	MNRO	CPS	LEA	CVGI	GNTX

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

PLOW	+ 0.92	DORM
MNRO	+ 0.91	MPAA
CPS	+ 0.91	MPAA
CPS	+ 0.9	DORM
MPAA	+ 0.85	DORM
CPS	+ 0.84	MNRO

High negative correlations

GNTX	- 0.37	CVGI
CVGI	- 0.33	CPS
CVGI	- 0.28	DORM
CVGI	- 0.24	MPAA
CVGI	- 0.15	MNRO
CVGI	- 0.11	PLOW

Risk-Adjusted Indicators

There is a big difference between Standard Stock performing well and Standard 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 Standard'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
DORM	1.68	0.07	0.08	0.10	1.76	(1.95)	4.77	(2.95)	12.95
MPAA	2.59	0.27	0.10	0.22	2.98	(2.75)	5.14	(4.97)	29.44
PLOW	1.15	(0.11)	0.00	(0.01)	0.00	0.00	2.64	(2.36)	9.04
SRI	2.84	(0.32)	0.00	(0.06)	0.00	0.00	7.11	(6.24)	17.46
MNRO	2.48	0.12	0.05	0.12	3.94	(2.68)	6.91	(4.10)	31.73
CPS	2.21	0.61	0.22	7.64	2.05	(2.65)	4.95	(3.37)	19.51
LEA	1.29	(0.12)	0.00	(0.02)	0.00	0.00	3.22	(2.47)	11.31
CVGI	3.10	(0.40)	0.00	(0.08)	0.00	0.00	5.56	(6.19)	17.91
GNTX	1.31	0.17	0.18	0.19	0.88	(1.74)	2.33	(1.74)	18.44

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