Snap On Correlations

SNA Stock

USD 340.56 0.27 0.08%

The current 90-days correlation between Snap On and Everus Construction Group is 0.02 (i.e., Significant diversification). The correlation of Snap On 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.

Snap On Correlation With Market

Weak diversification

The correlation between Snap On and DJI is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Snap On and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Snap Stock

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

For information on how to trade Snap Stock refer to our How to Trade Snap Stock guide.

Moving against Snap Stock

0.7	600765	AVIC Heavy Machinery	Pair Corr
0.58	600666	Aurora Optoelectronics	Pair Corr
0.56	002757	Nanxing Furniture	Pair Corr
0.45	HILTON	Hilton Metal Forging	Pair Corr
0.68	300629	King Strong New	Pair Corr
0.44	688700	Kunshan Dongwei Tech	Pair Corr
0.37	603109	Senci Electric Machinery	Pair Corr
0.35	002786	Shenzhen Silver Basis	Pair Corr
0.34	HYFM	Hydrofarm Holdings	Pair Corr
0.33	300056	Xiamen Savings Envir	Pair Corr
0.56	002855	Dongguan Chitwing	Pair Corr
0.43	300266	Xingyuan Environment	Pair Corr

Related Correlations Analysis

	NOA	TETEF	ONCI	DCMDF	TAKMF	NUVR	ECG	NPNTQ
NOA		0.0	0.0	-0.44	0.57	0.3	0.44	0.0	NOA
TETEF	0.0		1.0	0.0	0.0	0.0	0.0	1.0	TETEF
ONCI	0.0	1.0		0.0	0.0	0.0	0.0	1.0	ONCI
DCMDF	-0.44	0.0	0.0		-0.71	0.01	-0.68	0.0	DCMDF
TAKMF	0.57	0.0	0.0	-0.71		-0.18	0.73	0.0	TAKMF
NUVR	0.3	0.0	0.0	0.01	-0.18		-0.01	0.0	NUVR
ECG	0.44	0.0	0.0	-0.68	0.73	-0.01		0.0	ECG
NPNTQ	0.0	1.0	1.0	0.0	0.0	0.0	0.0		NPNTQ
	NOA	TETEF	ONCI	DCMDF	TAKMF	NUVR	ECG	NPNTQ

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

ONCI	+ 1.0	TETEF
NPNTQ	+ 1.0	TETEF
NPNTQ	+ 1.0	ONCI
ECG	+ 0.73	TAKMF
TAKMF	+ 0.57	NOA
ECG	+ 0.44	NOA

High negative correlations

TAKMF	- 0.71	DCMDF
ECG	- 0.68	DCMDF
DCMDF	- 0.44	NOA
NUVR	- 0.18	TAKMF
ECG	- 0.01	NUVR
NPNTQ	- 0.0	ECG

Risk-Adjusted Indicators

There is a big difference between Snap Stock performing well and Snap On 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 Snap On'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
NOA	1.68	0.06	0.03	0.10	2.51	(1.74)	3.38	(3.11)	14.03
TETEF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ONCI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DCMDF	1.67	0.11	0.02	(0.84)	1.88	(3.78)	5.94	(4.55)	13.81
TAKMF	0.05	0.01	0.00	2.44	0.00	0.00	0.00	0.00	1.61
NUVR	0.90	(0.07)	0.00	(0.09)	0.00	0.00	2.86	(3.27)	13.57
ECG	2.58	0.25	0.07	1.41	3.00	(3.02)	5.40	(4.97)	15.72
NPNTQ	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC