Gencor Industries Correlations

GENC Stock

USD 12.87 0.68 5.02%

The current 90-days correlation between Gencor Industries and Manitowoc is 0.48 (i.e., Very weak diversification). The correlation of Gencor 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.

Gencor Industries Correlation With Market

Weak diversification

The correlation between Gencor Industries and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gencor Industries and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Gencor 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 board of governors.

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

Moving together with Gencor Stock

0.66	GP	GreenPower Motor	Pair Corr
0.65	CAT	Caterpillar	Pair Corr
0.67	TEX	Terex	Pair Corr
0.93	WNC	Wabash National	Pair Corr
0.87	AGFY	Agrify Corp	Pair Corr
0.65	SHYF	Shyft Group	Pair Corr
0.86	CMCO	Columbus McKinnon	Pair Corr
0.8	UGRO	Urban Gro Earnings Call This Week	Pair Corr
0.69	J	Jacobs Solutions	Pair Corr
0.89	BV	BrightView Holdings	Pair Corr
0.86	BW	Babcock Wilcox Enter	Pair Corr
0.8	CW	Curtiss Wright	Pair Corr

Moving against Gencor Stock

0.71	DE	Deere Company	Pair Corr
0.67	CNH	CNH Industrial NV Symbol Change	Pair Corr
0.59	TWI	Titan International	Pair Corr
0.52	MTW	Manitowoc	Pair Corr
0.51	CEADW	CEA Industries Warrant	Pair Corr
0.42	LNN	Lindsay	Pair Corr
0.32	OSK	Oshkosh	Pair Corr
0.82	G	Genpact Limited	Pair Corr
0.5	BR	Broadridge Financial	Pair Corr
0.45	CEAD	CEA Industries Earnings Call This Week	Pair Corr
0.34	CP	Canadian Pacific Railway	Pair Corr

Related Correlations Analysis

	ALG	MTW	MNTX	CMCO	REVG	LNN	ASTE	WNC
ALG		0.24	0.0	0.11	0.21	0.2	0.33	0.14	ALG
MTW	0.24		0.0	-0.52	0.05	0.75	0.03	-0.55	MTW
MNTX	0.0	0.0		0.0	0.0	0.0	0.0	0.0	MNTX
CMCO	0.11	-0.52	0.0		0.68	-0.29	-0.24	0.95	CMCO
REVG	0.21	0.05	0.0	0.68		0.27	-0.06	0.58	REVG
LNN	0.2	0.75	0.0	-0.29	0.27		0.24	-0.41	LNN
ASTE	0.33	0.03	0.0	-0.24	-0.06	0.24		-0.24	ASTE
WNC	0.14	-0.55	0.0	0.95	0.58	-0.41	-0.24		WNC
	ALG	MTW	MNTX	CMCO	REVG	LNN	ASTE	WNC

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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

WNC	+ 0.95	CMCO
LNN	+ 0.75	MTW
REVG	+ 0.68	CMCO
WNC	+ 0.58	REVG
ASTE	+ 0.33	ALG
LNN	+ 0.27	REVG

High negative correlations

WNC	- 0.55	MTW
CMCO	- 0.52	MTW
WNC	- 0.41	LNN
LNN	- 0.29	CMCO
WNC	- 0.24	ASTE
ASTE	- 0.24	CMCO

Risk-Adjusted Indicators

There is a big difference between Gencor Stock performing well and Gencor 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 Gencor 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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
ALG	1.09	(0.06)	(0.44)	1.96	(2.71)	7.08
MTW	2.26	0.07	(0.03)	5.24	(5.05)	19.98
MNTX	0.00	0.00	0.00	0.00	0.00	0.00
CMCO	2.42	(0.85)	(0.81)	3.59	(5.25)	44.77
REVG	2.03	(0.06)	(0.11)	3.56	(3.72)	14.34
LNN	1.21	0.02	(0.04)	2.90	(2.27)	6.31
ASTE	1.79	0.03	(0.03)	3.65	(3.69)	16.43
WNC	2.21	(0.62)	(0.79)	4.28	(5.52)	13.46

Gencor Industries Corporate Executives

Elected by the shareholders, the Gencor Industries' board of directors comprises two types of representatives: Gencor Industries inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Gencor. The board's role is to monitor Gencor Industries' management team and ensure that shareholders' interests are well served. Gencor Industries' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Gencor Industries' outside directors are responsible for providing unbiased perspectives on the board's policies.

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