Modine Manufacturing Correlations

MOD Stock

USD 91.91 0.74 0.80%

The current 90-days correlation between Modine Manufacturing and Cooper Stnd is 0.41 (i.e., Very weak diversification). The correlation of Modine Manufacturing 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.

Modine Manufacturing Correlation With Market

Poor diversification

The correlation between Modine Manufacturing and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Modine Manufacturing and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Modine Stock

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

For information on how to trade Modine Stock refer to our How to Trade Modine Stock guide.

Moving together with Modine Stock

0.8	F	Ford Motor	Pair Corr
0.8	GM	General Motors Earnings Call This Week	Pair Corr
0.77	LI	Li Auto	Pair Corr
0.76	VC	Visteon Corp	Pair Corr
0.86	ZK	ZEEKR Intelligent	Pair Corr
0.86	DORM	Dorman Products	Pair Corr
0.81	ALV	Autoliv Earnings Call This Week	Pair Corr
0.88	AXL	American Axle Manufa	Pair Corr
0.88	BWA	BorgWarner	Pair Corr
0.8	FOXF	Fox Factory Holding	Pair Corr
0.86	CPS	Cooper Stnd	Pair Corr
0.87	DAN	Dana Inc	Pair Corr
0.83	ECX	ECARX Holdings Class Buyout Trend	Pair Corr
0.84	MBLY	Mobileye Global Class	Pair Corr
0.68	MPAA	Motorcar Parts	Pair Corr
0.7	NWTN	NWTN Class B	Pair Corr
0.88	H	Hyatt Hotels	Pair Corr
0.63	M	Macys Inc	Pair Corr
0.74	W	Wayfair	Pair Corr
0.82	AN	AutoNation Earnings Call This Week	Pair Corr
0.76	AS	Amer Sports,	Pair Corr
0.76	BC	Brunswick	Pair Corr
0.7	BH	Biglari Holdings	Pair Corr
0.69	EM	Smart Share Global	Pair Corr
0.68	FL	Foot Locker	Pair Corr

Moving against Modine Stock

0.64	ECDA	ECD Automotive Design	Pair Corr
0.63	MULN	Mullen Automotive	Pair Corr
0.5	EVTV	Envirotech Vehicles	Pair Corr
0.74	DNUT	Krispy Kreme	Pair Corr
0.69	SG	Sweetgreen	Pair Corr

Related Correlations Analysis

	CPS	MPAA	AXL	SRI	DAN	DORM	SMP	PLOW	MNRO	FOXF
CPS		0.71	0.94	0.63	0.87	0.88	0.88	0.82	0.06	0.76	CPS
MPAA	0.71		0.75	0.76	0.8	0.76	0.83	0.82	0.43	0.88	MPAA
AXL	0.94	0.75		0.61	0.91	0.9	0.88	0.84	0.08	0.82	AXL
SRI	0.63	0.76	0.61		0.8	0.6	0.89	0.91	0.54	0.87	SRI
DAN	0.87	0.8	0.91	0.8		0.86	0.96	0.93	0.29	0.91	DAN
DORM	0.88	0.76	0.9	0.6	0.86		0.82	0.81	0.15	0.83	DORM
SMP	0.88	0.83	0.88	0.89	0.96	0.82		0.96	0.33	0.92	SMP
PLOW	0.82	0.82	0.84	0.91	0.93	0.81	0.96		0.31	0.94	PLOW
MNRO	0.06	0.43	0.08	0.54	0.29	0.15	0.33	0.31		0.48	MNRO
FOXF	0.76	0.88	0.82	0.87	0.91	0.83	0.92	0.94	0.48		FOXF
	CPS	MPAA	AXL	SRI	DAN	DORM	SMP	PLOW	MNRO	FOXF

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Risk-Adjusted Indicators

There is a big difference between Modine Stock performing well and Modine Manufacturing 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 Modine Manufacturing'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
CPS	3.90	0.73	0.24	0.60	3.45	(4.78)	6.85	(6.49)	54.04
MPAA	2.70	0.28	0.06	0.56	3.70	(2.93)	6.83	(4.83)	26.04
AXL	2.39	0.18	0.10	0.36	2.52	(2.91)	7.24	(4.16)	21.08
SRI	3.49	0.47	0.18	0.43	3.63	(4.12)	7.51	(6.48)	29.52
DAN	2.24	0.32	0.16	0.42	2.28	(2.44)	4.99	(3.94)	26.34
DORM	1.39	(0.07)	(0.06)	0.15	1.82	(1.34)	2.46	(2.88)	10.18
SMP	1.70	0.36	0.16	0.61	1.58	(1.89)	4.85	(2.96)	15.20
PLOW	1.45	0.33	0.21	0.75	0.85	(1.92)	3.71	(1.74)	8.13
MNRO	3.18	(0.07)	(0.01)	0.17	3.47	(3.82)	7.00	(6.19)	37.83
FOXF	2.52	0.12	0.13	0.29	2.62	(2.95)	7.67	(4.23)	29.11

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