EVI Industries Correlations

EVI Stock

USD 16.71 0.19 1.15%

The current 90-days correlation between EVI Industries and DXP Enterprises is 0.11 (i.e., Average diversification). The correlation of EVI Industries 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.

EVI Industries Correlation With Market

Average diversification

The correlation between EVI Industries and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding EVI Industries 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 EVI Industries. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in real.

For more detail on how to invest in EVI Stock please use our How to Invest in EVI Industries guide.

Moving together with EVI Stock

0.76	DSGR	Distribution Solutions	Pair Corr
0.87	FAST	Fastenal Sell-off Trend	Pair Corr
0.83	FERG	Ferguson Plc	Pair Corr
0.74	AIT	Applied Industrial	Pair Corr
0.87	BXC	BlueLinx Holdings Earnings Call Tomorrow	Pair Corr
0.86	GIC	Global Industrial	Pair Corr
0.83	GWW	WW Grainger	Pair Corr
0.68	MSM	MSC Industrial Direct	Pair Corr
0.71	WCC	WESCO International	Pair Corr
0.82	WSO	Watsco Inc	Pair Corr
0.77	POOL	Pool Earnings Call This Week	Pair Corr
0.73	SITE	SiteOne Landscape Supply	Pair Corr
0.61	J	Jacobs Solutions	Pair Corr
0.76	BV	BrightView Holdings	Pair Corr
0.74	BW	Babcock Wilcox Enter	Pair Corr
0.71	CR	Crane Company	Pair Corr
0.75	GD	General Dynamics	Pair Corr

Moving against EVI Stock

0.75	B	Barnes Group	Pair Corr
0.71	BA	Boeing	Pair Corr
0.6	DXPE	DXP Enterprises	Pair Corr
0.56	WCC-PA	WESCO International	Pair Corr
0.49	AP	Ampco Pittsburgh	Pair Corr
0.43	PL	Planet Labs PBC	Pair Corr

Related Correlations Analysis

	DXPE	GIC	CNM	WSO-B	DSGR	WCC-PA	BXC	AIT	SITE	FERG
DXPE		-0.76	0.81	-0.82	-0.85	0.91	-0.68	-0.29	-0.25	-0.63	DXPE
GIC	-0.76		-0.59	0.66	0.92	-0.77	0.96	0.72	0.78	0.88	GIC
CNM	0.81	-0.59		-0.51	-0.59	0.67	-0.46	-0.24	-0.13	-0.44	CNM
WSO-B	-0.82	0.66	-0.51		0.75	-0.81	0.62	0.17	0.28	0.52	WSO-B
DSGR	-0.85	0.92	-0.59	0.75		-0.9	0.87	0.5	0.59	0.75	DSGR
WCC-PA	0.91	-0.77	0.67	-0.81	-0.9		-0.68	-0.23	-0.31	-0.54	WCC-PA
BXC	-0.68	0.96	-0.46	0.62	0.87	-0.68		0.8	0.81	0.92	BXC
AIT	-0.29	0.72	-0.24	0.17	0.5	-0.23	0.8		0.8	0.86	AIT
SITE	-0.25	0.78	-0.13	0.28	0.59	-0.31	0.81	0.8		0.81	SITE
FERG	-0.63	0.88	-0.44	0.52	0.75	-0.54	0.92	0.86	0.81		FERG
	DXPE	GIC	CNM	WSO-B	DSGR	WCC-PA	BXC	AIT	SITE	FERG

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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

BXC	+ 0.96	GIC
DSGR	+ 0.92	GIC
FERG	+ 0.92	BXC
WCC-PA	+ 0.91	DXPE
FERG	+ 0.88	GIC
BXC	+ 0.87	DSGR

High negative correlations

WCC-PA	- 0.9	DSGR
DSGR	- 0.85	DXPE
WSO-B	- 0.82	DXPE
WCC-PA	- 0.81	WSO-B
WCC-PA	- 0.77	GIC
GIC	- 0.76	DXPE

Risk-Adjusted Indicators

There is a big difference between EVI Stock performing well and EVI Industries 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 EVI Industries' 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
DXPE	1.69	0.57	0.27	1.48	1.55	(1.99)	4.38	(3.52)	12.42
GIC	1.11	(0.24)	0.00	(0.22)	0.00	0.00	2.07	(2.83)	6.92
CNM	1.46	0.35	0.27	0.32	1.01	(1.78)	3.55	(1.95)	18.90
WSO-B	0.52	(0.09)	0.00	(0.58)	0.00	0.00	1.56	(1.06)	15.11
DSGR	1.18	(0.43)	0.00	(0.47)	0.00	0.00	1.49	(3.16)	7.76
WCC-PA	0.11	0.01	0.05	(0.95)	0.05	(0.13)	0.24	(0.20)	1.05
BXC	1.78	(0.26)	0.00	(0.21)	0.00	0.00	3.47	(3.87)	10.34
AIT	1.09	(0.01)	0.00	(0.02)	0.00	0.00	2.60	(2.21)	6.80
SITE	1.61	(0.05)	0.00	(0.05)	0.00	0.00	3.78	(3.24)	9.51
FERG	1.39	(0.16)	0.00	(0.20)	0.00	0.00	2.71	(2.80)	13.86

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