Polaris Industries Correlations

PII Stock

USD 67.95 1.03 1.54%

The current 90-days correlation between Polaris Industries and Thor Industries is 0.63 (i.e., Poor diversification). The correlation of Polaris Industries 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.

Polaris Industries Correlation With Market

Very weak diversification

The correlation between Polaris Industries and DJI is 0.46 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Polaris Industries and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Polaris Industries. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

For more detail on how to invest in Polaris Stock please use our How to Invest in Polaris Industries guide.

Moving together with Polaris Stock

0.87	DOOO	BRP Inc Earnings Call This Week	Pair Corr
0.84	WLDS	Wearable Devices Buyout Trend	Pair Corr
0.7	EZGO	EZGO Technologies	Pair Corr
0.77	FEBO	Fenbo Holdings	Pair Corr
0.95	CCS	Century Communities	Pair Corr
0.86	CRI	Carters	Pair Corr
0.76	DFH	Dream Finders Homes	Pair Corr
0.93	DHI	DR Horton	Pair Corr
0.79	DTC	Solo Brands	Pair Corr
0.8	HAS	Hasbro Inc	Pair Corr
0.88	HOV	Hovnanian Enterprises	Pair Corr
0.76	KBH	KB Home Fiscal Year End 8th of January 2025	Pair Corr
0.77	BRLT	Brilliant Earth Group	Pair Corr
0.79	CTHR	Charles Colvard	Pair Corr

Moving against Polaris Stock

0.78	DOGZ	Dogness International	Pair Corr
0.72	AS	Amer Sports,	Pair Corr
0.71	VSTO	Vista Outdoor	Pair Corr
0.7	GIL	Gildan Activewear	Pair Corr
0.66	RL	Ralph Lauren Corp	Pair Corr
0.66	HBI	Hanesbrands	Pair Corr
0.52	VOXX	VOXX International	Pair Corr
0.47	ESCA	Escalade Incorporated	Pair Corr
0.44	FOSL	Fossil Group	Pair Corr
0.43	UA	Under Armour C	Pair Corr
0.85	GM	General Motors Aggressive Push	Pair Corr
0.83	LULU	Lululemon Athletica	Pair Corr
0.71	JRSH	Jerash Holdings	Pair Corr
0.61	BH	Biglari Holdings	Pair Corr
0.53	GT	Goodyear Tire Rubber	Pair Corr
0.53	JZ	Jianzhi Education	Pair Corr
0.38	BQ	Boqii Holding Limited	Pair Corr
0.35	HD	Home Depot	Pair Corr

Related Correlations Analysis

	THO	BC	HOG	WGO	WSM
THO		0.73	-0.14	0.69	0.27	THO
BC	0.73		0.05	0.52	0.37	BC
HOG	-0.14	0.05		0.08	0.24	HOG
WGO	0.69	0.52	0.08		-0.07	WGO
WSM	0.27	0.37	0.24	-0.07		WSM
	THO	BC	HOG	WGO	WSM

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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

BC	+ 0.73	THO
WGO	+ 0.69	THO
WGO	+ 0.52	BC
WSM	+ 0.37	BC
WSM	+ 0.27	THO
WSM	+ 0.24	HOG

High negative correlations

HOG	- 0.14	THO
WSM	- 0.07	WGO

Risk-Adjusted Indicators

There is a big difference between Polaris Stock performing well and Polaris Industries 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 Polaris Industries' 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
THO	1.66	(0.04)	0.01	0.09	1.89	(1.86)	4.29	(2.77)	10.61
BC	1.57	(0.08)	0.01	0.08	1.67	(1.71)	3.84	(2.82)	8.89
HOG	1.58	(0.28)	0.00	(0.06)	0.00	0.00	3.60	(3.75)	13.61
WGO	1.80	(0.19)	(0.02)	0.03	2.52	(1.93)	3.89	(3.71)	15.47
WSM	2.08	0.45	0.17	1.85	1.74	(2.53)	3.43	(3.23)	29.00

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