Columbus McKinnon Correlations

CMCO Stock

USD 18.46 0.27 1.44%

The current 90-days correlation between Columbus McKinnon and Lindsay is 0.06 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Columbus McKinnon moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Columbus McKinnon moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Columbus McKinnon Correlation With Market

Average diversification

The correlation between Columbus McKinnon and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Columbus McKinnon 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 Columbus McKinnon. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

To learn how to invest in Columbus Stock, please use our How to Invest in Columbus McKinnon guide.

Moving together with Columbus Stock

0.82	GP	GreenPower Motor	Pair Corr
0.8	CAT	Caterpillar	Pair Corr
0.8	TEX	Terex	Pair Corr
0.95	WNC	Wabash National	Pair Corr
0.86	GENC	Gencor Industries	Pair Corr
0.74	HYFM	Hydrofarm Holdings	Pair Corr
0.68	REVG	Rev Group	Pair Corr
0.65	AGFY	Agrify Corp	Pair Corr
0.7	SHYF	Shyft Group	Pair Corr
0.67	UGRO	Urban Gro Earnings Call This Week	Pair Corr
0.87	J	Jacobs Solutions	Pair Corr
0.94	BV	BrightView Holdings	Pair Corr
0.87	BW	Babcock Wilcox Enter	Pair Corr
0.86	CW	Curtiss Wright	Pair Corr
0.69	DY	Dycom Industries	Pair Corr

Moving against Columbus Stock

0.65	DE	Deere Company	Pair Corr
0.56	CNH	CNH Industrial NV Symbol Change	Pair Corr
0.56	TWI	Titan International	Pair Corr
0.54	CEADW	CEA Industries Warrant	Pair Corr
0.52	MTW	Manitowoc	Pair Corr
0.77	G	Genpact Limited	Pair Corr
0.58	CEAD	CEA Industries Earnings Call This Week	Pair Corr
0.39	BR	Broadridge Financial	Pair Corr

Related Correlations Analysis

	LNN	ASTE	SHYF	AGCO	ALG	HY	TWI	REVG	GENC	MTW
LNN		0.24	0.14	0.81	0.2	0.33	0.75	0.27	-0.42	0.75	LNN
ASTE	0.24		-0.28	0.15	0.33	-0.33	0.29	-0.06	-0.04	0.03	ASTE
SHYF	0.14	-0.28		0.4	0.39	0.89	-0.08	0.78	0.65	0.12	SHYF
AGCO	0.81	0.15	0.4		0.27	0.53	0.56	0.56	-0.08	0.51	AGCO
ALG	0.2	0.33	0.39	0.27		0.23	0.28	0.21	0.35	0.24	ALG
HY	0.33	-0.33	0.89	0.53	0.23		0.02	0.75	0.44	0.28	HY
TWI	0.75	0.29	-0.08	0.56	0.28	0.02		0.04	-0.59	0.79	TWI
REVG	0.27	-0.06	0.78	0.56	0.21	0.75	0.04		0.5	0.05	REVG
GENC	-0.42	-0.04	0.65	-0.08	0.35	0.44	-0.59	0.5		-0.52	GENC
MTW	0.75	0.03	0.12	0.51	0.24	0.28	0.79	0.05	-0.52		MTW
	LNN	ASTE	SHYF	AGCO	ALG	HY	TWI	REVG	GENC	MTW

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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

HY	+ 0.89	SHYF
AGCO	+ 0.81	LNN
MTW	+ 0.79	TWI
REVG	+ 0.78	SHYF
TWI	+ 0.75	LNN
MTW	+ 0.75	LNN

High negative correlations

GENC	- 0.59	TWI
MTW	- 0.52	GENC
GENC	- 0.42	LNN
HY	- 0.33	ASTE
SHYF	- 0.28	ASTE
GENC	- 0.08	AGCO

Risk-Adjusted Indicators

There is a big difference between Columbus Stock performing well and Columbus McKinnon 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 Columbus McKinnon'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
LNN	1.21	0.02	0.00	(0.04)	0.00	0.00	2.90	(2.27)	6.31
ASTE	1.79	0.03	0.00	(0.03)	0.00	0.00	3.65	(3.69)	16.43
SHYF	2.85	(0.28)	0.00	(0.18)	0.00	0.00	4.15	(7.35)	27.14
AGCO	1.90	0.01	0.00	(0.05)	0.00	0.00	4.48	(3.80)	13.24
ALG	1.09	(0.06)	0.00	(0.44)	0.00	0.00	1.96	(2.71)	7.08
HY	1.66	(0.23)	0.00	(0.32)	0.00	0.00	2.75	(3.69)	15.44
TWI	2.54	0.27	0.06	0.08	3.21	(2.87)	6.63	(5.21)	16.00
REVG	2.03	(0.06)	0.00	(0.11)	0.00	0.00	3.56	(3.72)	14.34
GENC	2.33	(0.68)	0.00	(0.69)	0.00	0.00	3.65	(5.58)	15.04
MTW	2.26	0.07	0.00	(0.03)	0.00	0.00	5.24	(5.05)	19.98

Columbus McKinnon Corporate Executives

Elected by the shareholders, the Columbus McKinnon's board of directors comprises two types of representatives: Columbus McKinnon inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Columbus. The board's role is to monitor Columbus McKinnon's management team and ensure that shareholders' interests are well served. Columbus McKinnon's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Columbus McKinnon's outside directors are responsible for providing unbiased perspectives on the board's policies.

	Gregory Rustowicz	CFO and VP of Fin.	Profile
	Gregory CPA	Executive CFO	Profile

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