Forward Industries Correlations

FORD Stock

USD 3.93 0.14 3.44%

The current 90-days correlation between Forward Industries and On Holding is 0.23 (i.e., Modest diversification). The correlation of Forward 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.

Forward Industries Correlation With Market

Modest diversification

The correlation between Forward Industries and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Forward 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 Forward 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 metropolitan statistical area.

For information on how to trade Forward Stock refer to our How to Trade Forward Stock guide.

Moving against Forward Stock

0.39	DHI	DR Horton	Pair Corr
0.36	NKE	Nike Inc Aggressive Push	Pair Corr
0.35	CRI	Carters	Pair Corr
0.34	CCS	Century Communities	Pair Corr
0.34	HAS	Hasbro Inc Sell-off Trend	Pair Corr
0.31	PMNT	Perfect Moment	Pair Corr

Related Correlations Analysis

	ONON	SKX	NKE	DBI	SHOO
ONON		-0.36	-0.22	-0.34	0.02	ONON
SKX	-0.36		0.61	0.73	0.29	SKX
NKE	-0.22	0.61		0.87	0.74	NKE
DBI	-0.34	0.73	0.87		0.58	DBI
SHOO	0.02	0.29	0.74	0.58		SHOO
	ONON	SKX	NKE	DBI	SHOO

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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

DBI	+ 0.87	NKE
SHOO	+ 0.74	NKE
DBI	+ 0.73	SKX
NKE	+ 0.61	SKX
SHOO	+ 0.58	DBI
SHOO	+ 0.29	SKX

High negative correlations

SKX	- 0.36	ONON
DBI	- 0.34	ONON
NKE	- 0.22	ONON

Risk-Adjusted Indicators

There is a big difference between Forward Stock performing well and Forward 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 Forward 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
ONON	1.80	0.29	0.15	0.57	1.36	(2.27)	4.56	(2.63)	9.28
SKX	1.55	(0.20)	0.00	(0.33)	0.00	0.00	3.29	(3.41)	11.05
NKE	1.20	(0.15)	0.00	(0.33)	0.00	0.00	2.37	(2.49)	13.61
DBI	3.20	(0.83)	0.00	(0.50)	0.00	0.00	7.16	(7.83)	19.89
SHOO	1.34	(0.11)	0.00	(0.03)	0.00	0.00	2.96	(2.75)	8.41

Forward Industries Corporate Management

Anthony CPA	Chief Officer	Profile
Thomas MCAD	Chief Kablooe	Profile
Bob Wild	Chief Inc	Profile
Anthony Camarda	Treasurer CFO	Profile

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