TriMas Correlations

TRS Stock

USD 30.07 0.03 0.1%

The current 90-days correlation between TriMas and Myers Industries is 0.37 (i.e., Weak diversification). The correlation of TriMas 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.

TriMas Correlation With Market

Very weak diversification

The correlation between TriMas and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TriMas and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with TriMas Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in TriMas. 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 information on how to buy TriMas Stock please use our How to Invest in TriMas guide.

Moving together with TriMas Stock

0.61	IP	International Paper	Pair Corr
0.93	OI	O I Glass	Pair Corr
0.67	SW	Smurfit WestRock plc	Pair Corr
0.72	AVY	Avery Dennison Corp Earnings Call This Week	Pair Corr
0.97	CCK	Crown Holdings Earnings Call Tomorrow	Pair Corr
0.88	GEF	Greif Bros	Pair Corr
0.96	MYE	Myers Industries	Pair Corr
0.75	PKG	Packaging Corp Earnings Call Tomorrow	Pair Corr
0.79	SEE	Sealed Air	Pair Corr
0.95	AMBP	Ardagh Metal Packaging Earnings Call This Week	Pair Corr
0.85	SLGN	Silgan Holdings	Pair Corr
0.97	BALL	Ball	Pair Corr
0.83	MB	MasterBeef Group Ordinary	Pair Corr
0.77	EFOI	Energy Focu	Pair Corr
0.85	F-PB	Ford Motor	Pair Corr
0.91	F-PC	Ford Motor	Pair Corr
0.89	F-PD	F PD	Pair Corr
0.82	WBUY	WEBUY GLOBAL LTD Downward Rally	Pair Corr
0.9	EVRI	Everi Holdings	Pair Corr
0.63	WPRT	Westport Fuel Systems	Pair Corr
0.89	FIGS	Figs Inc	Pair Corr
0.8	AGS	PlayAGS	Pair Corr
0.81	AIN	Albany International Earnings Call Next Week	Pair Corr
0.9	CYD	China Yuchai Interna	Pair Corr
0.93	HNI	HNI Corp Earnings Call This Week	Pair Corr
0.92	KAR	KAR Auction Services	Pair Corr

Moving against TriMas Stock

0.86	VIRC	Virco Manufacturing	Pair Corr
0.73	GPK	Graphic Packaging Holding Earnings Call Next Week	Pair Corr
0.46	CHA	Chagee Holdings Downward Rally	Pair Corr
0.33	DSS	DSS Inc	Pair Corr

Related Correlations Analysis

	MYE	SLGN	REYN	CCDBF	SXI	THR	UVSP	TILE	TCBK
MYE		0.81	-0.87	0.9	0.87	0.53	0.7	0.89	0.82	MYE
SLGN	0.81		-0.59	0.86	0.88	0.74	0.84	0.84	0.84	SLGN
REYN	-0.87	-0.59		-0.8	-0.62	-0.2	-0.38	-0.62	-0.51	REYN
CCDBF	0.9	0.86	-0.8		0.79	0.55	0.68	0.86	0.79	CCDBF
SXI	0.87	0.88	-0.62	0.79		0.73	0.81	0.91	0.84	SXI
THR	0.53	0.74	-0.2	0.55	0.73		0.76	0.74	0.72	THR
UVSP	0.7	0.84	-0.38	0.68	0.81	0.76		0.82	0.94	UVSP
TILE	0.89	0.84	-0.62	0.86	0.91	0.74	0.82		0.91	TILE
TCBK	0.82	0.84	-0.51	0.79	0.84	0.72	0.94	0.91		TCBK
	MYE	SLGN	REYN	CCDBF	SXI	THR	UVSP	TILE	TCBK

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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

TCBK	+ 0.94	UVSP
TILE	+ 0.91	SXI
TCBK	+ 0.91	TILE
CCDBF	+ 0.9	MYE
TILE	+ 0.89	MYE
SXI	+ 0.88	SLGN

High negative correlations

REYN	- 0.87	MYE
CCDBF	- 0.8	REYN
TILE	- 0.62	REYN
SXI	- 0.62	REYN
REYN	- 0.59	SLGN
TCBK	- 0.51	REYN

Risk-Adjusted Indicators

There is a big difference between TriMas Stock performing well and TriMas 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 TriMas' 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
MYE	1.75	0.46	0.34	0.44	1.01	(2.12)	4.62	(1.93)	10.60
SLGN	0.99	0.05	0.04	0.19	0.83	(1.26)	2.32	(1.81)	6.23
REYN	1.04	(0.23)	0.00	(0.18)	0.00	0.00	1.79	(2.42)	5.39
CCDBF	0.84	0.22	0.13	1.02	0.64	(1.04)	1.87	(1.61)	7.99
SXI	1.62	(0.01)	0.02	0.12	1.75	(1.73)	3.09	(3.05)	12.94
THR	1.49	(0.02)	0.02	0.11	2.17	(1.51)	3.40	(3.33)	13.02
UVSP	1.36	0.18	0.13	0.30	1.23	(1.57)	3.29	(1.99)	7.53
TILE	1.43	(0.02)	0.01	0.11	1.82	(1.51)	2.87	(3.12)	8.98
TCBK	1.19	0.11	0.08	0.24	1.19	(1.40)	3.09	(2.33)	7.00

TriMas Corporate Management

Jan Dijk	VP Treasurer	Profile
Jodi Robin	General Secretary	Profile
Scott Mell	Chief Officer	Profile
Jill Stress	Chief Officer	Profile
Charles Manz	Pres Components	Profile

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