Stanley Black Correlations

Stocks . USA . 
Stock . Stanley Black Decker
SWK Stock  USD 82.21  0.58  0.70%   
The current 90-days correlation between Stanley Black Decker and Toro Co is 0.35 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Stanley Black moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Stanley Black Decker moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Stanley Black Correlation With Market

Average diversification

The correlation between Stanley Black Decker and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Stanley Black Decker and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Stanley Black Decker. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in housing.

Moving together with Stanley Stock

  0.84EML EasternPairCorr
  0.84TKR Timken CompanyPairCorr
  0.87CP Canadian Pacific RailwayPairCorr
  0.82FC Franklin CoveyPairCorr
  0.68GD General Dynamics Fiscal Year End 22nd of January 2025 PairCorr
  0.74GE GE Aerospace Fiscal Year End 28th of January 2025 PairCorr
  0.92GP GreenPower MotorPairCorr
  0.84HY Hyster Yale MaterialsPairCorr

Moving against Stanley Stock

  0.92SNA Snap OnPairCorr
  0.85DIST Distoken AcquisitionPairCorr
  0.84R Ryder SystemPairCorr
  0.84AL Air LeasePairCorr
  0.78RBC RBC BearingsPairCorr
  0.78LECO Lincoln Electric HoldingsPairCorr
  0.72KMT KennametalPairCorr
  0.68HLMN Hillman Solutions CorpPairCorr
  0.67TBLT Toughbuilt IndustriesPairCorr
  0.59B Barnes GroupPairCorr
  0.36J Jacobs SolutionsPairCorr
  0.92AZ A2Z Smart Technologies Tech BoostPairCorr
  0.86HI HillenbrandPairCorr
  0.76BE Bloom Energy Corp Downward RallyPairCorr
  0.76CR Crane CompanyPairCorr
  0.76CW Curtiss Wright Downward RallyPairCorr
  0.61BV BrightView HoldingsPairCorr
  0.47DE Deere CompanyPairCorr
  0.91LZ LegalZoomPairCorr
  0.83PH Parker HannifinPairCorr
  0.8PL Planet Labs PBCPairCorr
  0.75WM Waste ManagementPairCorr

Related Correlations Analysis

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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   
SNA
+ 0.9
LECO
KMT
+ 0.88
LECO
RBC
+ 0.81
KMT
RBC
+ 0.8
LECO
RBC
+ 0.79
SNA
SNA
+ 0.76
KMT
  
High negative correlations   
RBC
- 0.75
TKR
KMT
- 0.75
TKR
SNA
- 0.74
TKR
LECO
- 0.67
TKR
SCX
- 0.37
RBCP
TKR
- 0.21
TTC

Risk-Adjusted Indicators

There is a big difference between Stanley Stock performing well and Stanley Black 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 Stanley Black'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.

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