Dana Correlations

DAN Stock

USD 15.48 0.11 0.72%

The current 90-days correlation between Dana Inc and Lear Corporation is 0.44 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Dana moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Dana Inc moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Dana Correlation With Market

Modest diversification

The correlation between Dana Inc and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dana Inc and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Dana Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Dana Stock

0.84	XPEV	Xpeng Inc Buyout Trend	Pair Corr
0.86	APTV	Aptiv PLC Sell-off Trend	Pair Corr
0.84	AN	AutoNation	Pair Corr
0.63	IH	Ihuman Inc	Pair Corr
0.83	JD	JD Inc Adr Earnings Call This Week	Pair Corr

Moving against Dana Stock

0.8	GM	General Motors	Pair Corr
0.77	MOD	Modine Manufacturing	Pair Corr
0.73	GNTX	Gentex	Pair Corr
0.66	MGA	Magna International	Pair Corr
0.65	F	Ford Motor Earnings Call Today	Pair Corr
0.63	AXL	American Axle Manufa	Pair Corr
0.61	BWA	BorgWarner	Pair Corr
0.55	MTEN	Mingteng International	Pair Corr
0.47	VC	Visteon Corp	Pair Corr
0.46	NIO	Nio Class A	Pair Corr
0.82	MULN	Mullen Automotive	Pair Corr
0.82	NWTN	NWTN Class B	Pair Corr
0.81	FL	Foot Locker Earnings Call This Week	Pair Corr
0.66	AYRO	AYRO Inc	Pair Corr
0.62	BQ	Boqii Holding Limited	Pair Corr
0.59	BC	Brunswick	Pair Corr
0.51	ADNT	Adient PLC	Pair Corr
0.75	DNUT	Krispy Kreme	Pair Corr
0.72	DOGZ	Dogness International Earnings Call Today	Pair Corr
0.71	LE	Lands End Upward Rally	Pair Corr
0.71	SG	Sweetgreen	Pair Corr

Related Correlations Analysis

	LEA	ALV	CVGI	ADNT	GNTX	FOXF	CPS	MPAA	AXL	SRI
LEA		0.54	0.29	0.53	0.22	0.33	0.35	0.37	0.52	0.25	LEA
ALV	0.54		0.22	0.32	0.1	0.2	0.63	0.19	0.35	0.12	ALV
CVGI	0.29	0.22		0.7	0.87	0.91	0.0	-0.12	0.85	0.9	CVGI
ADNT	0.53	0.32	0.7		0.72	0.76	0.14	-0.06	0.79	0.68	ADNT
GNTX	0.22	0.1	0.87	0.72		0.92	0.02	-0.25	0.83	0.96	GNTX
FOXF	0.33	0.2	0.91	0.76	0.92		-0.04	-0.17	0.9	0.95	FOXF
CPS	0.35	0.63	0.0	0.14	0.02	-0.04		-0.01	0.05	-0.1	CPS
MPAA	0.37	0.19	-0.12	-0.06	-0.25	-0.17	-0.01		0.08	-0.21	MPAA
AXL	0.52	0.35	0.85	0.79	0.83	0.9	0.05	0.08		0.88	AXL
SRI	0.25	0.12	0.9	0.68	0.96	0.95	-0.1	-0.21	0.88		SRI
	LEA	ALV	CVGI	ADNT	GNTX	FOXF	CPS	MPAA	AXL	SRI

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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

SRI	+ 0.96	GNTX
SRI	+ 0.95	FOXF
FOXF	+ 0.92	GNTX
FOXF	+ 0.91	CVGI
SRI	+ 0.9	CVGI
AXL	+ 0.9	FOXF

High negative correlations

MPAA	- 0.25	GNTX
SRI	- 0.21	MPAA
MPAA	- 0.17	FOXF
MPAA	- 0.12	CVGI
SRI	- 0.1	CPS
MPAA	- 0.06	ADNT

Risk-Adjusted Indicators

There is a big difference between Dana Stock performing well and Dana 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 Dana'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
LEA	1.28	0.05	0.03	0.08	1.76	(1.18)	2.31	(2.86)	7.29
ALV	1.24	0.02	0.01	0.05	1.86	(1.06)	2.47	(2.54)	7.31
CVGI	2.64	(0.24)	0.00	(0.29)	0.00	0.00	6.39	(5.69)	19.50
ADNT	1.87	(0.21)	0.00	(0.35)	0.00	0.00	3.21	(4.08)	12.63
GNTX	1.15	(0.30)	0.00	(2.26)	0.00	0.00	2.19	(2.11)	11.26
FOXF	1.86	(0.29)	0.00	(0.42)	0.00	0.00	3.00	(4.37)	9.53
CPS	2.53	0.07	0.02	0.12	3.14	(2.86)	4.68	(5.36)	24.09
MPAA	3.61	0.82	0.25	1.19	2.99	(4.54)	10.61	(5.07)	21.74
AXL	2.31	(0.21)	0.00	(0.22)	0.00	0.00	4.60	(4.76)	17.69
SRI	2.86	(0.55)	0.00	(0.36)	0.00	0.00	5.26	(6.54)	21.96

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