Stoneridge Correlations

SRI Stock

USD 6.70 0.25 3.60%

The current 90-days correlation between Stoneridge and Monro Muffler Brake is 0.4 (i.e., Very weak 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 0.42 (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 real.

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

Moving against Stoneridge Stock

0.43	RCAT	Red Cat Holdings	Pair Corr
0.41	SSNLF	Samsung Electronics	Pair Corr
0.31	SSVFF	Southern Silver Expl	Pair Corr
0.35	LLY	Eli Lilly	Pair Corr
0.34	MRAI	Marpai Inc	Pair Corr

Related Correlations Analysis

	MNRO	MPAA	SMP	PLOW	DORM	GNTX	FOXF	CPS	LEA
MNRO		0.91	0.82	0.65	0.71	0.6	-0.52	0.84	0.45	MNRO
MPAA	0.91		0.92	0.76	0.84	0.72	-0.52	0.91	0.39	MPAA
SMP	0.82	0.92		0.84	0.94	0.78	-0.37	0.89	0.36	SMP
PLOW	0.65	0.76	0.84		0.93	0.66	-0.02	0.81	0.63	PLOW
DORM	0.71	0.84	0.94	0.93		0.82	-0.15	0.89	0.46	DORM
GNTX	0.6	0.72	0.78	0.66	0.82		-0.05	0.79	0.03	GNTX
FOXF	-0.52	-0.52	-0.37	-0.02	-0.15	-0.05		-0.38	-0.01	FOXF
CPS	0.84	0.91	0.89	0.81	0.89	0.79	-0.38		0.47	CPS
LEA	0.45	0.39	0.36	0.63	0.46	0.03	-0.01	0.47		LEA
	MNRO	MPAA	SMP	PLOW	DORM	GNTX	FOXF	CPS	LEA

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

DORM	+ 0.94	SMP
DORM	+ 0.93	PLOW
SMP	+ 0.92	MPAA
MPAA	+ 0.91	MNRO
CPS	+ 0.91	MPAA
CPS	+ 0.89	SMP

High negative correlations

FOXF	- 0.52	MPAA
FOXF	- 0.52	MNRO
CPS	- 0.38	FOXF
FOXF	- 0.37	SMP
FOXF	- 0.15	DORM
FOXF	- 0.05	GNTX

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	2.51	0.06	0.04	0.10	3.91	(2.73)	6.91	(4.10)	31.73
MPAA	2.59	0.26	0.10	0.22	2.98	(2.75)	5.14	(4.97)	29.44
SMP	1.67	0.14	0.13	0.14	1.55	(2.13)	3.90	(2.84)	13.67
PLOW	1.17	(0.09)	(0.05)	0.01	1.20	(1.50)	2.64	(2.36)	9.04
DORM	1.67	0.07	0.08	0.10	1.78	(1.90)	4.77	(2.95)	12.95
GNTX	1.30	0.15	0.16	0.18	0.89	(1.72)	2.34	(1.75)	18.76
FOXF	2.12	(0.37)	0.00	(0.09)	0.00	0.00	4.92	(4.89)	15.55
CPS	2.20	0.53	0.19	3.94	2.09	(2.64)	4.95	(3.37)	21.35
LEA	1.27	(0.16)	0.00	(0.04)	0.00	0.00	2.82	(2.47)	10.91

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