Smith Wesson Correlations

SWBI Stock

USD 9.50 0.10 1.04%

The current 90-days correlation between Smith Wesson Brands and Ammo Inc is 0.4 (i.e., Very weak diversification). The correlation of Smith Wesson 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.

Smith Wesson Correlation With Market

Weak diversification

The correlation between Smith Wesson Brands and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Smith Wesson Brands and DJI in the same portfolio, assuming nothing else is changed.

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Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Smith Wesson Brands. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

Moving together with Smith Stock

0.8	AS	Amer Sports,	Pair Corr
0.83	BC	Brunswick	Pair Corr
0.93	RL	Ralph Lauren Corp	Pair Corr
0.74	UA	Under Armour C	Pair Corr
0.65	DOOO	BRP Inc	Pair Corr
0.74	VEEE	Twin Vee Powercats	Pair Corr
0.65	VMAR	Vision Marine Techno	Pair Corr
0.81	VNCE	Vince Holding Corp Earnings Call Shortly	Pair Corr
0.82	VUZI	Vuzix Corp Cmn	Pair Corr
0.74	WLDS	Wearable Devices	Pair Corr
0.87	EZGO	EZGO Technologies	Pair Corr
0.63	BLD	Topbuild Corp	Pair Corr
0.67	BZH	Beazer Homes USA Earnings Call Shortly	Pair Corr
0.74	CCS	Century Communities	Pair Corr
0.82	FOSL	Fossil Group	Pair Corr
0.74	CRI	Carters	Pair Corr
0.86	DTC	Solo Brands	Pair Corr
0.93	GIL	Gildan Activewear	Pair Corr
0.73	HWH	HWH International	Pair Corr
0.74	KTB	Kontoor Brands Earnings Call Shortly	Pair Corr
0.69	MAT	Mattel Inc	Pair Corr
0.61	MHO	MI Homes	Pair Corr
0.85	MOV	Movado Group	Pair Corr
0.72	MPX	Marine Products	Pair Corr
0.69	MSN	Emerson Radio	Pair Corr
0.64	PVH	PVH Corp	Pair Corr
0.74	SKX	Skechers USA Downward Rally	Pair Corr
0.85	TPR	Tapestry	Pair Corr
0.79	UHG	United Homes Group	Pair Corr
0.92	VFC	VF Corporation	Pair Corr
0.84	VRA	Vera Bradley	Pair Corr
0.85	WTO	UTime Limited Buyout Trend	Pair Corr
0.68	GIII	G III Apparel	Pair Corr
0.9	GOOS	Canada Goose Holdings	Pair Corr

Moving against Smith Stock

0.84	YHGJ	Yunhong Green CTI	Pair Corr
0.68	LANV	Lanvin Group Holdings	Pair Corr
0.48	PMNT	Perfect Moment	Pair Corr
0.42	AREBW	American Rebel Holdings	Pair Corr
0.42	CHCI	Comstock Holding Com	Pair Corr

Related Correlations Analysis

	POWW	PKE	POWWP	NPK	RGR	LHX	AVAV	AJRD	MRCY	TXT
POWW		0.59	-0.06	0.61	-0.5	-0.39	0.75	0.0	0.09	0.35	POWW
PKE	0.59		-0.12	0.71	-0.67	-0.05	0.8	0.0	-0.24	0.79	PKE
POWWP	-0.06	-0.12		-0.24	0.06	0.22	-0.08	0.0	0.33	-0.15	POWWP
NPK	0.61	0.71	-0.24		-0.46	-0.5	0.63	0.0	-0.4	0.71	NPK
RGR	-0.5	-0.67	0.06	-0.46		0.23	-0.76	0.0	0.25	-0.3	RGR
LHX	-0.39	-0.05	0.22	-0.5	0.23		-0.06	0.0	0.24	-0.01	LHX
AVAV	0.75	0.8	-0.08	0.63	-0.76	-0.06		0.0	-0.07	0.44	AVAV
AJRD	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	AJRD
MRCY	0.09	-0.24	0.33	-0.4	0.25	0.24	-0.07	0.0		-0.36	MRCY
TXT	0.35	0.79	-0.15	0.71	-0.3	-0.01	0.44	0.0	-0.36		TXT
	POWW	PKE	POWWP	NPK	RGR	LHX	AVAV	AJRD	MRCY	TXT

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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

AVAV	+ 0.8	PKE
TXT	+ 0.79	PKE
AVAV	+ 0.75	POWW
NPK	+ 0.71	PKE
TXT	+ 0.71	NPK
AVAV	+ 0.63	NPK

High negative correlations

AVAV	- 0.76	RGR
RGR	- 0.67	PKE
LHX	- 0.5	NPK
RGR	- 0.5	POWW
RGR	- 0.46	NPK
MRCY	- 0.4	NPK

Risk-Adjusted Indicators

There is a big difference between Smith Stock performing well and Smith Wesson 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 Smith Wesson'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
POWW	2.71	0.32	0.10	0.22	2.90	(3.29)	5.60	(4.30)	16.99
PKE	1.28	(0.01)	0.00	(0.15)	0.00	0.00	2.30	(3.12)	9.42
POWWP	1.91	0.07	0.06	0.23	2.89	(1.96)	3.40	(4.83)	13.75
NPK	1.25	(0.12)	0.00	(0.33)	0.00	0.00	2.52	(2.66)	10.21
RGR	1.03	0.22	0.32	1.46	0.85	(1.23)	1.87	(1.53)	15.23
LHX	1.09	0.07	0.00	(0.03)	0.00	0.00	2.06	(2.53)	8.65
AVAV	2.60	(0.04)	0.00	(0.18)	0.00	0.00	5.30	(5.05)	16.43
AJRD	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MRCY	2.13	0.37	0.17	0.41	2.16	(2.40)	3.75	(3.93)	23.60
TXT	1.48	(0.01)	0.00	(0.15)	0.00	0.00	2.57	(3.38)	12.99

Smith Wesson Corporate Management

Kevin Maxwell	General VP	Profile
John Dineen	Chief Officer	Profile
Elizabeth Sharp	VP Relations	Profile
Deana McPherson	CFO, VP	Profile
Susan Cupero	Vice Sales	Profile

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