Stoneridge Correlations

SRI Stock

USD 6.73 0.21 3.03%

The current 90-days correlation between Stoneridge and Monro Muffler Brake is 0.19 (i.e., Average diversification). The correlation of Stoneridge 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.

Stoneridge Correlation With Market

Very weak diversification

The correlation between Stoneridge and DJI is 0.58 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Stoneridge and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Stoneridge Stock

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

For more detail on how to invest in Stoneridge Stock please use our How to Invest in Stoneridge guide.

Moving together with Stoneridge Stock

0.92	F	Ford Motor Earnings Call This Week	Pair Corr
0.87	GM	General Motors Earnings Call This Week	Pair Corr
0.7	QS	Quantumscape Corp Earnings Call This Week	Pair Corr
0.92	VC	Visteon Corp Earnings Call This Week	Pair Corr
0.64	WKSP	Worksport	Pair Corr
0.87	FFAI	Faraday Future Intel Symbol Change	Pair Corr
0.84	FLYE	Fly E Group,	Pair Corr
0.94	ALV	Autoliv	Pair Corr
0.62	AXL	American Axle Manufa	Pair Corr
0.88	BWA	BorgWarner	Pair Corr
0.86	FOXF	Fox Factory Holding	Pair Corr
0.8	DAN	Dana Inc	Pair Corr
0.88	ECX	ECARX Holdings Class	Pair Corr
0.75	MBLY	Mobileye Global Class	Pair Corr
0.75	MPAA	Motorcar Parts	Pair Corr
0.65	NWTN	NWTN Class B	Pair Corr
0.92	H	Hyatt Hotels Earnings Call This Week	Pair Corr
0.67	M	Macys Inc	Pair Corr
0.96	W	Wayfair	Pair Corr
0.8	DIBS	1StdibsCom	Pair Corr
0.96	AN	AutoNation	Pair Corr
0.82	AS	Amer Sports,	Pair Corr
0.94	BC	Brunswick Earnings Call This Week	Pair Corr
0.94	BH	Biglari Holdings	Pair Corr
0.84	EM	Smart Share Global	Pair Corr
0.79	FL	Foot Locker	Pair Corr

Moving against Stoneridge Stock

0.77	EVTV	Envirotech Vehicles	Pair Corr
0.69	MULN	Mullen Automotive	Pair Corr
0.65	TM	Toyota Motor	Pair Corr
0.6	ECDA	ECD Automotive Design	Pair Corr
0.69	SG	Sweetgreen	Pair Corr
0.57	DNUT	Krispy Kreme	Pair Corr
0.53	JD	JD Inc Adr Aggressive Push	Pair Corr

Related Correlations Analysis

	MNRO	MPAA	SMP	PLOW	DORM	GNTX	FOXF	CPS	LEA
MNRO		0.51	0.45	0.43	0.18	0.08	0.56	0.13	0.42	MNRO
MPAA	0.51		0.81	0.8	0.69	0.56	0.86	0.67	0.75	MPAA
SMP	0.45	0.81		0.95	0.74	0.61	0.91	0.84	0.9	SMP
PLOW	0.43	0.8	0.95		0.76	0.63	0.94	0.77	0.88	PLOW
DORM	0.18	0.69	0.74	0.76		0.39	0.78	0.84	0.53	DORM
GNTX	0.08	0.56	0.61	0.63	0.39		0.58	0.54	0.79	GNTX
FOXF	0.56	0.86	0.91	0.94	0.78	0.58		0.72	0.83	FOXF
CPS	0.13	0.67	0.84	0.77	0.84	0.54	0.72		0.7	CPS
LEA	0.42	0.75	0.9	0.88	0.53	0.79	0.83	0.7		LEA
	MNRO	MPAA	SMP	PLOW	DORM	GNTX	FOXF	CPS	LEA

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Risk-Adjusted Indicators

There is a big difference between Stoneridge Stock performing well and Stoneridge 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 Stoneridge'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
MNRO	3.00	(0.03)	0.01	0.11	3.36	(3.58)	6.48	(5.17)	37.83
MPAA	2.59	0.29	0.07	0.44	3.67	(2.84)	6.83	(4.15)	26.04
SMP	1.49	0.40	0.22	0.54	1.30	(1.68)	3.37	(2.84)	15.20
PLOW	1.36	0.24	0.18	0.42	0.95	(1.79)	2.83	(1.63)	8.21
DORM	1.25	(0.02)	(0.01)	0.11	1.69	(1.20)	2.14	(2.78)	10.18
GNTX	1.25	0.17	0.01	(0.66)	1.23	(1.53)	2.51	(2.38)	8.03
FOXF	2.12	0.25	0.13	0.29	2.04	(2.43)	5.07	(4.23)	16.27
CPS	3.52	0.82	0.26	0.54	2.94	(4.19)	6.17	(6.35)	54.04
LEA	1.59	0.28	0.21	0.36	1.21	(1.92)	4.13	(2.48)	8.54

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