Commercial Vehicle Correlations

CVGI Stock

USD 1.39 0.04 2.80%

The current 90-days correlation between Commercial Vehicle and Motorcar Parts of is 0.11 (i.e., Average diversification). The correlation of Commercial Vehicle 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.

Commercial Vehicle Correlation With Market

Weak diversification

The correlation between Commercial Vehicle Group and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Commercial Vehicle Group 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 Commercial Vehicle Group. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with Commercial Stock

0.78	VSTE	Vast Renewables	Pair Corr
0.75	EFSH	1847 Holdings LLC	Pair Corr
0.74	CNR	Core Natural Resources, Symbol Change	Pair Corr
0.76	FSTR	LB Foster	Pair Corr
0.86	MLR	Miller Industries	Pair Corr
0.79	MPU	Mega Matrix Corp	Pair Corr
0.82	RUN	Sunrun Inc	Pair Corr
0.68	SOL	Emeren Group Earnings Call Today	Pair Corr
0.67	ZEO	Zeo Energy Corp	Pair Corr
0.78	HYLN	Hyliion Holdings Corp	Pair Corr
0.63	MVST	Microvast Holdings Earnings Call This Week	Pair Corr
0.64	MVSTW	Microvast Holdings	Pair Corr
0.71	SHLS	Shoals Technologies Buyout Trend	Pair Corr
0.65	SLDP	Solid Power	Pair Corr
0.75	BEEM	Beam Global	Pair Corr
0.78	SW	Smurfit WestRock plc	Pair Corr
0.78	F-PC	Ford Motor	Pair Corr
0.8	F-PD	F PD	Pair Corr
0.85	FIGS	Figs Inc	Pair Corr
0.71	AIN	Albany International	Pair Corr
0.76	AVY	Avery Dennison Corp	Pair Corr
0.68	CWH	Camping World Holdings	Pair Corr

Moving against Commercial Stock

0.62	OI	O I Glass	Pair Corr
0.6	MMM	3M Company	Pair Corr
0.57	DRVN	Driven Brands Holdings	Pair Corr
0.56	EFOI	Energy Focu	Pair Corr
0.41	NXT	Nextracker Class A	Pair Corr
0.74	ECX	ECARX Holdings Class Buyout Trend	Pair Corr
0.56	CCK	Crown Holdings	Pair Corr

Related Correlations Analysis

	MPAA	MNRO	SRI	SUP	DORM	SMP	CPS	DAN	LEA	ALV
MPAA		-0.59	-0.21	-0.03	-0.35	-0.64	0.04	0.19	0.39	-0.16	MPAA
MNRO	-0.59		0.63	-0.02	0.4	0.69	-0.24	-0.66	-0.32	0.08	MNRO
SRI	-0.21	0.63		0.18	0.54	0.07	-0.18	-0.8	-0.35	-0.05	SRI
SUP	-0.03	-0.02	0.18		-0.07	-0.36	0.45	-0.08	0.26	-0.2	SUP
DORM	-0.35	0.4	0.54	-0.07		0.34	0.14	-0.08	-0.28	0.25	DORM
SMP	-0.64	0.69	0.07	-0.36	0.34		0.01	-0.03	-0.12	0.55	SMP
CPS	0.04	-0.24	-0.18	0.45	0.14	0.01		0.49	0.34	0.46	CPS
DAN	0.19	-0.66	-0.8	-0.08	-0.08	-0.03	0.49		0.47	0.33	DAN
LEA	0.39	-0.32	-0.35	0.26	-0.28	-0.12	0.34	0.47		0.26	LEA
ALV	-0.16	0.08	-0.05	-0.2	0.25	0.55	0.46	0.33	0.26		ALV
	MPAA	MNRO	SRI	SUP	DORM	SMP	CPS	DAN	LEA	ALV

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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

SMP	+ 0.69	MNRO
SRI	+ 0.63	MNRO
ALV	+ 0.55	SMP
DORM	+ 0.54	SRI
DAN	+ 0.49	CPS
LEA	+ 0.47	DAN

High negative correlations

DAN	- 0.8	SRI
DAN	- 0.66	MNRO
SMP	- 0.64	MPAA
MNRO	- 0.59	MPAA
SMP	- 0.36	SUP
LEA	- 0.35	SRI

Risk-Adjusted Indicators

There is a big difference between Commercial Stock performing well and Commercial Vehicle 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 Commercial Vehicle'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
MPAA	3.77	0.45	0.13	0.47	3.38	(4.90)	11.22	(5.33)	22.07
MNRO	1.75	(0.68)	0.00	(1.01)	0.00	0.00	2.69	(4.22)	9.63
SRI	3.66	(0.21)	0.00	(0.08)	0.00	0.00	6.68	(8.80)	31.78
SUP	3.32	0.43	0.11	0.67	3.79	(4.09)	6.94	(5.83)	28.51
DORM	1.20	(0.10)	0.00	(0.11)	0.00	0.00	2.60	(3.19)	7.99
SMP	1.22	(0.35)	0.00	(0.52)	0.00	0.00	1.78	(2.79)	7.53
CPS	2.87	0.34	0.10	0.18	3.13	(3.40)	5.09	(5.36)	24.09
DAN	2.17	0.32	0.13	0.22	2.33	(2.32)	5.46	(3.75)	19.62
LEA	1.34	0.03	0.02	0.04	1.74	(1.27)	2.31	(2.67)	8.61
ALV	1.48	0.00	0.00	0.00	1.96	(1.40)	3.06	(3.00)	9.68

Commercial Vehicle Corporate Management

Andy Cheung	Ex Officer	Profile
Jack Feng	VP Excellence	Profile
Scott Reed	Chief Officer	Profile
Richard Tajer	Senior Officer	Profile

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