American Woodmark Correlations

AMWD Stock

USD 58.78 1.53 2.54%

The correlation of American Woodmark 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.

American Woodmark Correlation With Market

Very weak diversification

The correlation between American Woodmark and DJI is 0.44 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Woodmark and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in American Woodmark. 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.

For information on how to trade American Stock refer to our How to Trade American Stock guide.

Moving together with American Stock

0.62	SN	SharkNinja,	Pair Corr
0.87	FLXS	Flexsteel Industries	Pair Corr
0.89	LEG	Leggett Platt	Pair Corr
0.68	LZB	La Z Boy	Pair Corr
0.72	MBC	MasterBrand	Pair Corr
0.73	MHK	Mohawk Industries	Pair Corr
0.87	NCL	Northann Corp	Pair Corr
0.79	WHR	Whirlpool	Pair Corr
0.67	HOFT	Hooker Furniture	Pair Corr
0.68	IRBT	iRobot	Pair Corr
0.72	KEQU	Kewaunee Scientific	Pair Corr
0.7	LCUT	Lifetime Brands	Pair Corr
0.93	LOVE	Lovesac	Pair Corr
0.85	COOK	Traeger	Pair Corr
0.95	CRWS	Crown Crafts	Pair Corr
0.61	IP	International Paper	Pair Corr
0.85	SW	Smurfit WestRock plc	Pair Corr
0.85	F-PB	Ford Motor	Pair Corr
0.95	F-PC	Ford Motor	Pair Corr
0.94	F-PD	F PD	Pair Corr

Moving against American Stock

0.88	BSET	Bassett Furniture	Pair Corr
0.81	EFOI	Energy Focu	Pair Corr
0.78	HBB	Hamilton Beach Brands	Pair Corr
0.76	VIOT	Viomi Technology ADR Earnings Call Tomorrow	Pair Corr
0.89	CYD	China Yuchai Interna	Pair Corr
0.54	KAR	KAR Auction Services	Pair Corr
0.52	CCK	Crown Holdings	Pair Corr
0.5	OI	O I Glass	Pair Corr
0.38	DRVN	Driven Brands Holdings	Pair Corr

Related Correlations Analysis

	KBAL	LZB	NTZ	MHK	MBC	BSET	FLXS	HBB	ETD
KBAL		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	KBAL
LZB	0.0		0.37	0.62	0.75	-0.5	0.62	-0.55	0.79	LZB
NTZ	0.0	0.37		0.16	0.39	0.15	-0.23	0.09	0.32	NTZ
MHK	0.0	0.62	0.16		0.79	-0.59	0.53	-0.31	0.44	MHK
MBC	0.0	0.75	0.39	0.79		-0.61	0.55	-0.52	0.7	MBC
BSET	0.0	-0.5	0.15	-0.59	-0.61		-0.78	0.8	-0.23	BSET
FLXS	0.0	0.62	-0.23	0.53	0.55	-0.78		-0.71	0.51	FLXS
HBB	0.0	-0.55	0.09	-0.31	-0.52	0.8	-0.71		-0.35	HBB
ETD	0.0	0.79	0.32	0.44	0.7	-0.23	0.51	-0.35		ETD
	KBAL	LZB	NTZ	MHK	MBC	BSET	FLXS	HBB	ETD

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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

HBB	+ 0.8	BSET
ETD	+ 0.79	LZB
MBC	+ 0.79	MHK
MBC	+ 0.75	LZB
ETD	+ 0.7	MBC
MHK	+ 0.62	LZB

High negative correlations

FLXS	- 0.78	BSET
HBB	- 0.71	FLXS
BSET	- 0.61	MBC
BSET	- 0.59	MHK
HBB	- 0.55	LZB
HBB	- 0.52	MBC

Risk-Adjusted Indicators

There is a big difference between American Stock performing well and American Woodmark 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 American Woodmark'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
KBAL	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LZB	1.46	(0.14)	0.00	(0.21)	0.00	0.00	2.96	(3.84)	9.42
NTZ	2.85	0.05	0.04	(0.17)	3.26	(3.72)	6.75	(5.80)	24.28
MHK	1.44	(0.12)	0.00	(0.18)	0.00	0.00	3.05	(2.85)	8.27
MBC	1.77	(0.21)	0.00	(0.28)	0.00	0.00	3.14	(4.35)	10.11
BSET	1.41	0.18	0.11	1.08	1.83	(1.51)	3.43	(2.82)	10.89
FLXS	2.56	(0.59)	0.00	(0.47)	0.00	0.00	4.30	(5.34)	37.91
HBB	2.23	0.24	0.09	0.20	2.54	(2.35)	5.34	(4.38)	17.62
ETD	1.25	(0.05)	0.00	(0.13)	0.00	0.00	2.04	(2.52)	14.02

American Woodmark Corporate Management

Robert Adams	Sr. VP of Value Stream Operations	Profile
William Waszak	SVP CIO	Profile
Kimberly Coldiron	Senior Officer	Profile
Dwayne Medlin	Senior Sales	Profile
Glenn Eanes	VP Treasurer	Profile
Paul Joachimczyk	CFO VP	Profile

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