EVI Industries Correlations

EVI Stock

USD 18.00 0.56 3.02%

The current 90-days correlation between EVI Industries and DXP Enterprises is -0.12 (i.e., Good 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

Significant diversification

The correlation between EVI Industries and DJI is 0.04 (i.e., Significant 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 against EVI Stock

0.41

Ryder System

Pair Corr

Related Correlations Analysis

	DXPE	GIC	CNM	WSO-B	DSGR	WCC-PA	BXC	AIT	SITE	FERG
DXPE		0.01	0.79	-0.75	-0.16	0.16	0.3	0.61	0.53	0.4	DXPE
GIC	0.01		0.52	0.23	0.82	-0.76	0.85	0.58	0.78	0.74	GIC
CNM	0.79	0.52		-0.48	0.31	-0.32	0.74	0.86	0.85	0.8	CNM
WSO-B	-0.75	0.23	-0.48		0.25	-0.25	-0.02	-0.31	-0.18	-0.07	WSO-B
DSGR	-0.16	0.82	0.31	0.25		-0.91	0.82	0.32	0.49	0.46	DSGR
WCC-PA	0.16	-0.76	-0.32	-0.25	-0.91		-0.8	-0.37	-0.46	-0.5	WCC-PA
BXC	0.3	0.85	0.74	-0.02	0.82	-0.8		0.71	0.8	0.77	BXC
AIT	0.61	0.58	0.86	-0.31	0.32	-0.37	0.71		0.83	0.9	AIT
SITE	0.53	0.78	0.85	-0.18	0.49	-0.46	0.8	0.83		0.85	SITE
FERG	0.4	0.74	0.8	-0.07	0.46	-0.5	0.77	0.9	0.85		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

FERG	+ 0.9	AIT
AIT	+ 0.86	CNM
BXC	+ 0.85	GIC
SITE	+ 0.85	CNM
FERG	+ 0.85	SITE
SITE	+ 0.83	AIT

High negative correlations

WCC-PA	- 0.91	DSGR
BXC	- 0.8	WCC-PA
WCC-PA	- 0.76	GIC
WSO-B	- 0.75	DXPE
FERG	- 0.5	WCC-PA
WSO-B	- 0.48	CNM

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	2.55	0.27	0.07	0.13	3.28	(2.59)	5.24	(5.28)	15.13
GIC	1.29	(0.30)	0.00	0.96	0.00	0.00	2.18	(3.34)	7.35
CNM	1.24	(0.12)	0.00	(6.13)	0.00	0.00	2.53	(2.77)	8.03
WSO-B	0.73	(0.05)	0.00	(0.52)	0.00	0.00	1.79	(2.06)	12.76
DSGR	1.70	(0.36)	0.00	(0.47)	0.00	0.00	3.58	(3.81)	13.85
WCC-PA	0.09	0.02	0.58	(4.41)	0.00	(0.12)	0.24	(0.16)	1.00
BXC	1.96	(0.62)	0.00	7.70	0.00	0.00	3.47	(3.99)	14.89
AIT	1.38	(0.25)	0.00	1.14	0.00	0.00	2.59	(3.87)	10.46
SITE	1.56	(0.27)	0.00	2.52	0.00	0.00	3.12	(3.42)	8.22
FERG	1.36	(0.23)	0.00	(1.82)	0.00	0.00	2.44	(2.80)	8.55

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