Garmin Correlations

GRMN Stock

USD 230.63 4.48 1.98%

The current 90-days correlation between Garmin and Vontier Corp is -0.12 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Garmin moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Garmin moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Garmin Correlation With Market

Good diversification

The correlation between Garmin and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Garmin and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Garmin Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Garmin. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

To learn how to invest in Garmin Stock, please use our How to Invest in Garmin guide.

Moving together with Garmin Stock

0.87	ST	Sensata Technologies Earnings Call This Week	Pair Corr
0.64	ELSE	Electro Sensors	Pair Corr
0.66	WATT	Energous	Pair Corr
0.65	FARO	FARO Technologies	Pair Corr
0.81	ESE	ESCO Technologies	Pair Corr
0.61	KNW	Know Labs	Pair Corr
0.71	LGL	LGL Group	Pair Corr
0.9	TDY	Teledyne Technologies Earnings Call Today	Pair Corr
0.76	VNT	Vontier Corp	Pair Corr
0.73	VPG	Vishay Precision	Pair Corr
0.86	ITRI	Itron Inc Earnings Call This Week	Pair Corr
0.79	ITRN	Ituran Location	Pair Corr
0.66	KEYS	Keysight Technologies	Pair Corr
0.87	MKSI	MKS Instruments	Pair Corr
0.63	NOVT	Novanta	Pair Corr
0.87	BKSY	Blacksky Technology	Pair Corr
0.87	TRMB	Trimble	Pair Corr
0.82	CGNX	Cognex Earnings Call This Week	Pair Corr
0.86	COHR	Coherent	Pair Corr
0.79	F	Ford Motor Earnings Call This Week	Pair Corr
0.84	H	Hyatt Hotels Earnings Call Tomorrow	Pair Corr
0.66	M	Macys Inc Earnings Call This Week	Pair Corr
0.88	W	Wayfair	Pair Corr
0.61	DIBS	1StdibsCom	Pair Corr
0.78	AN	AutoNation Earnings Call This Week	Pair Corr
0.78	AS	Amer Sports,	Pair Corr

Moving against Garmin Stock

0.66	FCUV	Focus Universal	Pair Corr
0.84	MLAB	Mesa Laboratories	Pair Corr
0.75	SVRE	SaverOne 2014 Tech Boost	Pair Corr
0.62	SOTK	Sono Tek Corp	Pair Corr
0.51	ODYS	Odysightai Common Stock	Pair Corr
0.46	JD	JD Inc Adr Aggressive Push	Pair Corr
0.41	GV	Visionary Education	Pair Corr

Related Correlations Analysis

	VNT	TDY	ESE	MKSI	ST	FTV	COHR	CGNX	NOVT	TRMB
VNT		0.85	0.96	0.93	0.94	0.57	0.94	0.97	0.83	0.96	VNT
TDY	0.85		0.87	0.88	0.87	0.22	0.92	0.9	0.63	0.93	TDY
ESE	0.96	0.87		0.96	0.97	0.55	0.94	0.94	0.8	0.96	ESE
MKSI	0.93	0.88	0.96		0.99	0.48	0.95	0.95	0.83	0.96	MKSI
ST	0.94	0.87	0.97	0.99		0.48	0.95	0.94	0.82	0.97	ST
FTV	0.57	0.22	0.55	0.48	0.48		0.38	0.54	0.76	0.4	FTV
COHR	0.94	0.92	0.94	0.95	0.95	0.38		0.95	0.73	0.98	COHR
CGNX	0.97	0.9	0.94	0.95	0.94	0.54	0.95		0.85	0.96	CGNX
NOVT	0.83	0.63	0.8	0.83	0.82	0.76	0.73	0.85		0.76	NOVT
TRMB	0.96	0.93	0.96	0.96	0.97	0.4	0.98	0.96	0.76		TRMB
	VNT	TDY	ESE	MKSI	ST	FTV	COHR	CGNX	NOVT	TRMB

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Risk-Adjusted Indicators

There is a big difference between Garmin Stock performing well and Garmin 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 Garmin'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
VNT	1.15	0.18	0.17	0.31	0.91	(1.35)	2.16	(2.16)	7.79
TDY	0.80	0.29	0.10	(1.75)	0.62	(0.97)	1.90	(1.51)	4.44
ESE	1.35	0.35	0.14	5.52	1.07	(1.70)	3.25	(1.99)	10.04
MKSI	2.50	0.75	0.21	(2.78)	2.09	(2.99)	6.25	(4.67)	18.27
ST	1.99	0.70	0.27	2.85	1.39	(2.29)	4.01	(2.98)	18.61
FTV	1.16	0.06	(0.10)	(0.08)	1.43	(1.26)	2.68	(2.21)	7.92
COHR	2.29	0.57	0.30	0.47	1.88	(2.71)	7.03	(3.62)	15.09
CGNX	1.60	0.53	0.23	26.69	1.19	(1.87)	4.02	(2.10)	11.44
NOVT	1.56	0.14	(0.03)	(0.85)	1.78	(1.69)	2.88	(3.40)	11.36
TRMB	1.06	0.32	0.32	0.42	0.55	(1.28)	3.28	(1.54)	6.85

Garmin Corporate Executives

Elected by the shareholders, the Garmin's board of directors comprises two types of representatives: Garmin inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Garmin. The board's role is to monitor Garmin's management team and ensure that shareholders' interests are well served. Garmin's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Garmin's outside directors are responsible for providing unbiased perspectives on the board's policies.

	Douglas Boessen	Chief Financial Officer, Treasurer	Profile
	Douglas CPA	CFO Treasurer	Profile

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