Standex International Correlations

SXI Stock

USD 213.61 1.34 0.62%

The current 90-days correlation between Standex International and Tennant Company is 0.56 (i.e., Very weak diversification). The correlation of Standex International 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.

Standex International Correlation With Market

Modest diversification

The correlation between Standex International and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Standex International and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Standex Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Standex International. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in consumer price index.

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

Moving together with Standex Stock

0.72	PH	Parker Hannifin	Pair Corr
0.62	BRK-A	Berkshire Hathaway	Pair Corr
0.76	TR	Tootsie Roll Industries	Pair Corr
0.88	AMRX	Amneal Pharmaceuticals, Sell-off Trend	Pair Corr
0.87	ACSAY	ACS Actividades De	Pair Corr
0.75	PYTCF	Playtech plc	Pair Corr
0.79	DOMH	Dominari Holdings	Pair Corr
0.62	UI	Ubiquiti Networks	Pair Corr
0.81	DSVSF	Discovery Metals Corp	Pair Corr
0.61	BMEZ	BlackRock Health Sciences	Pair Corr
0.84	HD	Home Depot	Pair Corr
0.64	RR	Richtech Robotics Class Trending	Pair Corr
0.63	KTOS	Kratos Defense Security	Pair Corr

Moving against Standex Stock

0.94	APVO	Aptevo Therapeutics	Pair Corr
0.89	TRNR	Interactive Strength	Pair Corr
0.75	ADTX	Aditxt Inc	Pair Corr
0.69	DOV	Dover	Pair Corr
0.61	IR	Ingersoll Rand	Pair Corr
0.6	VLCN	Volcon Inc Symbol Change	Pair Corr
0.34	KIRK	KIRK Old Symbol Change	Pair Corr
0.31	LLY	Eli Lilly	Pair Corr

Related Correlations Analysis

	TNC	KAI	TAYD	NPO	LXFR	ALG	SMP	SPXC
TNC		0.42	-0.07	0.18	0.07	0.33	0.13	0.17	TNC
KAI	0.42		-0.36	-0.21	-0.62	0.82	-0.49	-0.07	KAI
TAYD	-0.07	-0.36		0.13	0.59	-0.5	0.35	-0.08	TAYD
NPO	0.18	-0.21	0.13		0.51	-0.34	0.69	0.63	NPO
LXFR	0.07	-0.62	0.59	0.51		-0.78	0.85	0.15	LXFR
ALG	0.33	0.82	-0.5	-0.34	-0.78		-0.6	-0.02	ALG
SMP	0.13	-0.49	0.35	0.69	0.85	-0.6		0.42	SMP
SPXC	0.17	-0.07	-0.08	0.63	0.15	-0.02	0.42		SPXC
	TNC	KAI	TAYD	NPO	LXFR	ALG	SMP	SPXC

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

SMP	+ 0.85	LXFR
ALG	+ 0.82	KAI
SMP	+ 0.69	NPO
SPXC	+ 0.63	NPO
LXFR	+ 0.59	TAYD
LXFR	+ 0.51	NPO

High negative correlations

ALG	- 0.78	LXFR
LXFR	- 0.62	KAI
SMP	- 0.6	ALG
ALG	- 0.5	TAYD
SMP	- 0.49	KAI
TAYD	- 0.36	KAI

Risk-Adjusted Indicators

There is a big difference between Standex Stock performing well and Standex International 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 Standex International'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
TNC	1.25	(0.06)	(0.02)	0.03	1.50	(1.27)	2.69	(2.51)	6.56
KAI	1.61	(0.18)	0.00	(0.03)	0.00	0.00	3.73	(2.86)	11.33
TAYD	2.44	(0.10)	0.00	(0.01)	0.00	0.00	5.32	(5.14)	18.71
NPO	1.42	0.24	0.10	(0.85)	1.35	(1.66)	3.49	(2.77)	7.63
LXFR	1.58	0.10	0.06	0.15	1.89	(1.64)	3.95	(2.70)	10.02
ALG	1.14	(0.35)	0.00	(0.16)	0.00	0.00	2.50	(2.62)	7.87
SMP	1.65	0.24	0.18	0.19	1.41	(2.12)	3.90	(2.52)	13.08
SPXC	1.23	0.15	0.07	0.47	1.41	(1.33)	2.85	(2.10)	12.32

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