Standex International Correlations

Stocks . USA . 
Stock . Standex International
SXI Stock  USD 157.11  0.85  0.54%   
The current 90-days correlation between Standex International and Tennant Company is 0.58 (i.e., Very weak diversification). The correlation of Standex International 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.

Standex International Correlation With Market

Very weak diversification

The correlation between Standex International and DJI is 0.57 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Standex International and DJI in the same portfolio, assuming nothing else is changed.
  
Build AI portfolio with Standex Stock
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Standex International. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in interest.
For more detail on how to invest in Standex Stock please use our How to Invest in Standex International guide.

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Risk-Adjusted Indicators

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

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