Douglas Dynamics Correlations

PLOW Stock

USD 28.50 0.36 1.25%

The current 90-days correlation between Douglas Dynamics and Monro Muffler Brake is -0.09 (i.e., Good diversification). The correlation of Douglas Dynamics 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.

Douglas Dynamics Correlation With Market

Very good diversification

The correlation between Douglas Dynamics and DJI is -0.21 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Douglas Dynamics and DJI in the same portfolio, assuming nothing else is changed.

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Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Douglas Dynamics. 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 more information on how to buy Douglas Stock please use our How to Invest in Douglas Dynamics guide.

Moving together with Douglas Stock

0.81	BBU	Brookfield Business	Pair Corr
0.79	FIP	FTAI Infrastructure Sell-off Trend	Pair Corr
0.85	HON	Honeywell International	Pair Corr
0.84	MLR	Miller Industries	Pair Corr
0.96	NXT	Nextracker Class A	Pair Corr
0.73	RUN	Sunrun Inc Buyout Trend	Pair Corr
0.79	VMI	Valmont Industries	Pair Corr
0.9	WAB	Westinghouse Air Brake	Pair Corr
0.75	GTEC	Greenland Acquisition	Pair Corr
0.88	MVST	Microvast Holdings Aggressive Push	Pair Corr
0.85	MVSTW	Microvast Holdings	Pair Corr
0.9	RAIL	Freightcar America	Pair Corr
0.65	CRESW	Cresud SACIF y	Pair Corr
0.82	ALSN	Allison Transmission	Pair Corr
0.94	ARRY	Array Technologies	Pair Corr
0.91	SHLS	Shoals Technologies	Pair Corr
0.87	SLDP	Solid Power	Pair Corr

Moving against Douglas Stock

0.67	FBYD	Falcons Beyond Global,	Pair Corr
0.38	PN	Skycorp Solar Group Tech Boost	Pair Corr
0.38	FSTR	LB Foster	Pair Corr
0.33	WPRT	Westport Fuel Systems	Pair Corr
0.52	NWPX	Northwest Pipe	Pair Corr
0.78	VIRC	Virco Manufacturing	Pair Corr
0.41	SUNE	SUNation Energy Symbol Change	Pair Corr

Related Correlations Analysis

	MNRO	MPAA	SMP	SRI	DORM	VC	LEA	FOXF	LKQ
MNRO		0.24	-0.04	0.4	0.19	0.03	0.25	0.39	-0.03	MNRO
MPAA	0.24		0.76	0.71	0.81	0.69	0.7	0.81	0.08	MPAA
SMP	-0.04	0.76		0.73	0.79	0.91	0.71	0.76	-0.15	SMP
SRI	0.4	0.71	0.73		0.77	0.79	0.75	0.88	-0.04	SRI
DORM	0.19	0.81	0.79	0.77		0.78	0.86	0.9	0.23	DORM
VC	0.03	0.69	0.91	0.79	0.78		0.85	0.82	-0.2	VC
LEA	0.25	0.7	0.71	0.75	0.86	0.85		0.86	0.09	LEA
FOXF	0.39	0.81	0.76	0.88	0.9	0.82	0.86		0.13	FOXF
LKQ	-0.03	0.08	-0.15	-0.04	0.23	-0.2	0.09	0.13		LKQ
	MNRO	MPAA	SMP	SRI	DORM	VC	LEA	FOXF	LKQ

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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

VC	+ 0.91	SMP
FOXF	+ 0.9	DORM
FOXF	+ 0.88	SRI
LEA	+ 0.86	DORM
FOXF	+ 0.86	LEA
LEA	+ 0.85	VC

High negative correlations

LKQ	- 0.2	VC
LKQ	- 0.15	SMP
LKQ	- 0.04	SRI
SMP	- 0.04	MNRO
LKQ	- 0.03	MNRO

Risk-Adjusted Indicators

There is a big difference between Douglas Stock performing well and Douglas Dynamics 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 Douglas Dynamics' 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
MNRO	3.14	(0.07)	0.00	(0.09)	0.00	0.00	6.48	(6.65)	37.83
MPAA	2.92	0.01	0.00	0.04	4.40	(3.06)	6.61	(5.52)	29.67
SMP	1.75	0.20	0.08	0.25	2.10	(1.74)	3.60	(3.96)	15.20
SRI	3.67	0.51	0.09	(1.32)	4.58	(3.96)	7.51	(7.38)	29.52
DORM	1.44	(0.09)	0.00	(0.09)	0.00	0.00	2.46	(3.12)	10.11
VC	1.95	0.16	0.06	0.17	2.77	(1.94)	4.59	(5.05)	18.79
LEA	2.05	(0.06)	0.00	(0.02)	0.00	0.00	4.13	(4.18)	18.14
FOXF	2.84	0.05	0.02	0.06	4.23	(2.96)	6.06	(5.75)	29.11
LKQ	1.48	(0.17)	0.00	(0.19)	0.00	0.00	2.54	(2.76)	19.54

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