Cooper Stnd Correlations

CPS Stock

USD 22.67 1.03 4.35%

The current 90-days correlation between Cooper Stnd and Dorman Products is 0.23 (i.e., Modest diversification). The correlation of Cooper Stnd 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.

Cooper Stnd Correlation With Market

Modest diversification

The correlation between Cooper Stnd and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cooper Stnd and DJI in the same portfolio, assuming nothing else is changed.

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Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Cooper Stnd. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

For more information on how to buy Cooper Stock please use our How to Invest in Cooper Stnd guide.

Moving together with Cooper Stock

0.69	F	Ford Motor Earnings Call This Week	Pair Corr
0.67	GM	General Motors Earnings Call Tomorrow	Pair Corr
0.74	LI	Li Auto	Pair Corr
0.63	VC	Visteon Corp Earnings Call This Week	Pair Corr
0.83	ZK	ZEEKR Intelligent	Pair Corr
0.84	DORM	Dorman Products	Pair Corr
0.68	ALV	Autoliv	Pair Corr
0.91	AXL	American Axle Manufa	Pair Corr
0.82	BWA	BorgWarner	Pair Corr
0.72	FOXF	Fox Factory Holding	Pair Corr
0.83	DAN	Dana Inc	Pair Corr
0.73	ECX	ECARX Holdings Class	Pair Corr
0.7	MBLY	Mobileye Global Class	Pair Corr
0.67	MPAA	Motorcar Parts	Pair Corr
0.81	H	Hyatt Hotels Earnings Call This Week	Pair Corr
0.71	M	Macys Inc	Pair Corr
0.62	W	Wayfair	Pair Corr
0.66	AN	AutoNation	Pair Corr
0.68	AS	Amer Sports,	Pair Corr
0.64	BC	Brunswick Earnings Call This Week	Pair Corr

Moving against Cooper Stock

0.81	MULN	Mullen Automotive	Pair Corr
0.56	ECDA	ECD Automotive Design	Pair Corr
0.36	EVTV	Envirotech Vehicles	Pair Corr
0.62	SG	Sweetgreen	Pair Corr
0.6	DNUT	Krispy Kreme	Pair Corr

Related Correlations Analysis

	DORM	MNRO	SMP	SRI	MPAA	AXL	DAN	PLOW	VC	LEA
DORM		0.18	0.74	0.5	0.69	0.81	0.83	0.76	0.42	0.53	DORM
MNRO	0.18		0.45	0.6	0.51	0.18	0.4	0.43	0.45	0.42	MNRO
SMP	0.74	0.45		0.9	0.81	0.85	0.94	0.95	0.88	0.9	SMP
SRI	0.5	0.6	0.9		0.75	0.62	0.79	0.91	0.92	0.91	SRI
MPAA	0.69	0.51	0.81	0.75		0.72	0.76	0.8	0.69	0.75	MPAA
AXL	0.81	0.18	0.85	0.62	0.72		0.85	0.78	0.71	0.77	AXL
DAN	0.83	0.4	0.94	0.79	0.76	0.85		0.91	0.72	0.75	DAN
PLOW	0.76	0.43	0.95	0.91	0.8	0.78	0.91		0.85	0.88	PLOW
VC	0.42	0.45	0.88	0.92	0.69	0.71	0.72	0.85		0.98	VC
LEA	0.53	0.42	0.9	0.91	0.75	0.77	0.75	0.88	0.98		LEA
	DORM	MNRO	SMP	SRI	MPAA	AXL	DAN	PLOW	VC	LEA

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Risk-Adjusted Indicators

There is a big difference between Cooper Stock performing well and Cooper Stnd 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 Cooper Stnd'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
DORM	1.25	(0.02)	(0.01)	0.11	1.69	(1.20)	2.14	(2.78)	10.18
MNRO	3.00	(0.03)	0.01	0.11	3.36	(3.58)	6.48	(5.17)	37.83
SMP	1.49	0.40	0.22	0.54	1.30	(1.68)	3.37	(2.84)	15.20
SRI	3.10	0.60	0.22	0.38	2.86	(3.82)	7.24	(6.24)	18.64
MPAA	2.59	0.29	0.07	0.44	3.67	(2.84)	6.83	(4.15)	26.04
AXL	2.27	0.41	0.18	0.42	1.99	(2.84)	7.24	(4.16)	15.90
DAN	1.84	0.47	0.26	0.54	1.30	(2.07)	4.80	(2.60)	10.01
PLOW	1.36	0.24	0.18	0.42	0.95	(1.79)	2.83	(1.63)	8.21
VC	1.61	0.56	0.34	0.66	1.11	(2.00)	4.59	(2.31)	10.00
LEA	1.59	0.28	0.21	0.36	1.21	(1.92)	4.13	(2.48)	8.54

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