Hurco Companies Correlations

HURC Stock

USD 22.17 0.17 0.77%

The correlation of Hurco Companies 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.

Hurco Companies Correlation With Market

Average diversification

The correlation between Hurco Companies and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hurco Companies and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Hurco Companies. 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 information on how to trade Hurco Stock refer to our How to Trade Hurco Stock guide.

Moving together with Hurco Stock

0.85	B	Barnes Group	Pair Corr
0.91	BW	Babcock Wilcox Enter Earnings Call This Week	Pair Corr
0.67	CR	Crane Company	Pair Corr
0.85	IR	Ingersoll Rand	Pair Corr
0.84	PH	Parker Hannifin	Pair Corr
0.75	EPAC	Enerpac Tool Group	Pair Corr
0.75	ATS	ATS Corporation	Pair Corr
0.88	CMI	Cummins	Pair Corr
0.78	DOV	Dover	Pair Corr
0.73	EMR	Emerson Electric	Pair Corr
0.89	ETN	Eaton PLC	Pair Corr
0.86	FLS	Flowserve	Pair Corr
0.68	GGG	Graco Inc	Pair Corr
0.74	IEX	IDEX	Pair Corr
0.81	ITT	ITT Inc	Pair Corr
0.86	ITW	Illinois Tool Works	Pair Corr
0.76	JBT	John Bean Technologies	Pair Corr
0.63	KAI	Kadant Inc	Pair Corr
0.76	MIR	Mirion Technologies	Pair Corr
0.81	MWA	Mueller Water Products Fiscal Year End 11th of December 2024	Pair Corr
0.87	NNE	Nano Nuclear Energy	Pair Corr
0.9	PNR	Pentair PLC	Pair Corr
0.61	ROK	Rockwell Automation	Pair Corr
0.68	RRX	Regal Beloit	Pair Corr
0.78	SMR	Nuscale Power Corp Upward Rally	Pair Corr
0.66	SXI	Standex International	Pair Corr

Moving against Hurco Stock

0.81	CVV	CVD Equipment Earnings Call This Week	Pair Corr
0.65	HI	Hillenbrand Earnings Call This Week	Pair Corr
0.49	RR	Richtech Robotics Class	Pair Corr
0.48	CXT	Crane NXT	Pair Corr

Related Correlations Analysis

	EPAC	NPO	OFLX	GRC	CYD	LXFR	HLIO	JBT	DCI	KAI
EPAC		0.31	0.83	0.68	0.09	0.86	0.9	0.86	0.81	0.87	EPAC
NPO	0.31		0.4	0.78	0.23	0.26	0.45	0.02	0.45	0.53	NPO
OFLX	0.83	0.4		0.6	0.37	0.87	0.71	0.69	0.61	0.9	OFLX
GRC	0.68	0.78	0.6		-0.01	0.49	0.72	0.42	0.77	0.77	GRC
CYD	0.09	0.23	0.37	-0.01		0.4	0.17	0.12	-0.04	0.16	CYD
LXFR	0.86	0.26	0.87	0.49	0.4		0.82	0.82	0.63	0.82	LXFR
HLIO	0.9	0.45	0.71	0.72	0.17	0.82		0.8	0.86	0.76	HLIO
JBT	0.86	0.02	0.69	0.42	0.12	0.82	0.8		0.73	0.67	JBT
DCI	0.81	0.45	0.61	0.77	-0.04	0.63	0.86	0.73		0.7	DCI
KAI	0.87	0.53	0.9	0.77	0.16	0.82	0.76	0.67	0.7		KAI
	EPAC	NPO	OFLX	GRC	CYD	LXFR	HLIO	JBT	DCI	KAI

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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

HLIO	+ 0.9	EPAC
KAI	+ 0.9	OFLX
KAI	+ 0.87	EPAC
LXFR	+ 0.87	OFLX
LXFR	+ 0.86	EPAC
JBT	+ 0.86	EPAC

High negative correlations

DCI	- 0.04	CYD
CYD	- 0.01	GRC

Risk-Adjusted Indicators

There is a big difference between Hurco Stock performing well and Hurco Companies 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 Hurco Companies' 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
EPAC	1.07	0.15	0.18	0.27	0.70	(1.25)	2.84	(1.64)	9.84
NPO	1.48	(0.24)	(0.01)	0.06	1.72	(1.62)	3.40	(2.30)	12.89
OFLX	1.64	(0.02)	0.06	0.15	1.63	(1.84)	3.35	(2.46)	10.39
GRC	1.34	(0.12)	0.02	0.10	1.46	(1.50)	2.39	(2.02)	10.10
CYD	1.60	0.30	0.06	(0.99)	1.52	(1.90)	4.58	(3.26)	18.33
LXFR	1.92	0.35	0.19	0.50	1.52	(2.48)	3.78	(2.67)	16.50
HLIO	1.68	(0.02)	0.09	0.15	1.77	(1.94)	3.95	(3.00)	19.40
JBT	1.80	0.33	0.15	0.59	1.52	(1.96)	3.68	(2.56)	21.44
DCI	0.84	(0.02)	(0.04)	0.13	0.98	(0.94)	1.94	(1.85)	5.61
KAI	1.57	0.15	0.16	0.24	1.34	(1.85)	3.70	(2.10)	9.22

Hurco Companies Corporate Executives

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

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