Dana Correlations

DAN Stock

USD 14.14 0.33 2.28%

The current 90-days correlation between Dana Inc and Lear Corporation is 0.47 (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

Very weak diversification

The correlation between Dana Inc and DJI is 0.4 (i.e., Very weak 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 against Dana Stock

0.83	EVTV	Envirotech Vehicles Earnings Call This Week	Pair Corr
0.68	VLCN	Volcon Inc	Pair Corr
0.66	HOG	Harley Davidson	Pair Corr
0.63	GM	General Motors	Pair Corr
0.62	FOXF	Fox Factory Holding	Pair Corr
0.62	LOT	Lotus Technology American	Pair Corr
0.6	WKHS	Workhorse Group	Pair Corr
0.57	ECDA	ECD Automotive Design	Pair Corr
0.51	ZK	ZEEKR Intelligent	Pair Corr
0.48	GGR	Gogoro Inc	Pair Corr
0.47	AXL	American Axle Manufa	Pair Corr
0.47	FRSX	Foresight Autonomous	Pair Corr
0.43	BWA	BorgWarner	Pair Corr
0.4	FLYE	Fly E Group,	Pair Corr
0.36	QS	Quantumscape Corp Aggressive Push	Pair Corr
0.31	VC	Visteon Corp	Pair Corr
0.77	SRI	Stoneridge	Pair Corr
0.77	LVWR	LiveWire Group	Pair Corr
0.66	ZAPP	Zapp Electric Vehicles	Pair Corr
0.65	GNTX	Gentex	Pair Corr
0.65	LOBO	LOBO EV TECHNOLOGIES	Pair Corr
0.63	MOD	Modine Manufacturing	Pair Corr
0.53	MGA	Magna International	Pair Corr
0.53	VFS	VinFast Auto	Pair Corr
0.38	WGO	Winnebago Industries Earnings Call Today	Pair Corr
0.36	SEG	Seaport Entertainment	Pair Corr

Related Correlations Analysis

	LEA	ALV	CVGI	ADNT	GNTX	FOXF	CPS	MPAA	AXL	SRI
LEA		0.43	0.14	0.37	0.19	0.18	0.4	0.24	0.3	0.04	LEA
ALV	0.43		0.4	0.47	0.18	0.25	0.8	-0.03	0.38	0.03	ALV
CVGI	0.14	0.4		0.8	0.83	0.88	0.29	-0.47	0.86	0.67	CVGI
ADNT	0.37	0.47	0.8		0.7	0.71	0.46	-0.54	0.84	0.34	ADNT
GNTX	0.19	0.18	0.83	0.7		0.94	0.17	-0.49	0.86	0.84	GNTX
FOXF	0.18	0.25	0.88	0.71	0.94		0.2	-0.4	0.88	0.84	FOXF
CPS	0.4	0.8	0.29	0.46	0.17	0.2		-0.15	0.34	-0.03	CPS
MPAA	0.24	-0.03	-0.47	-0.54	-0.49	-0.4	-0.15		-0.36	-0.2	MPAA
AXL	0.3	0.38	0.86	0.84	0.86	0.88	0.34	-0.36		0.65	AXL
SRI	0.04	0.03	0.67	0.34	0.84	0.84	-0.03	-0.2	0.65		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

FOXF	+ 0.94	GNTX
FOXF	+ 0.88	CVGI
AXL	+ 0.88	FOXF
AXL	+ 0.86	CVGI
AXL	+ 0.86	GNTX
AXL	+ 0.84	ADNT

High negative correlations

MPAA	- 0.54	ADNT
MPAA	- 0.49	GNTX
MPAA	- 0.47	CVGI
MPAA	- 0.4	FOXF
AXL	- 0.36	MPAA
SRI	- 0.2	MPAA

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	1.37	(0.01)	0.00	(0.10)	0.00	0.00	2.27	(2.86)	8.61
ALV	1.42	(0.04)	0.00	(0.13)	0.00	0.00	2.54	(3.00)	9.68
CVGI	2.98	(0.49)	0.00	(0.40)	0.00	0.00	6.39	(6.85)	22.75
ADNT	2.14	(0.37)	0.00	(0.38)	0.00	0.00	3.74	(4.95)	10.62
GNTX	1.20	(0.29)	0.00	(0.55)	0.00	0.00	2.19	(2.29)	10.85
FOXF	2.02	(0.27)	0.00	(0.33)	0.00	0.00	3.00	(4.31)	15.53
CPS	2.58	0.06	0.00	(0.06)	0.00	0.00	4.68	(5.36)	24.09
MPAA	3.71	0.76	0.23	0.68	3.14	(4.90)	11.22	(5.33)	22.07
AXL	2.30	(0.49)	0.00	(0.62)	0.00	0.00	3.24	(4.93)	17.72
SRI	3.51	(0.04)	0.00	(0.11)	0.00	0.00	6.68	(8.80)	31.78

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