Gentex Correlations

GNTX Stock

USD 24.20 0.06 0.25%

The current 90-days correlation between Gentex and Autoliv is 0.62 (i.e., Poor diversification). The correlation of Gentex 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Gentex Correlation With Market

Weak diversification

The correlation between Gentex 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 Gentex 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 Gentex. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

For more information on how to buy Gentex Stock please use our How to Invest in Gentex guide.

Moving together with Gentex Stock

0.63	F	Ford Motor	Pair Corr
0.85	GM	General Motors	Pair Corr
0.61	VC	Visteon Corp	Pair Corr
0.69	DORM	Dorman Products	Pair Corr
0.91	VLCN	Volcon Inc	Pair Corr
0.7	ECDA	ECD Automotive Design	Pair Corr
0.9	EVTV	Envirotech Vehicles	Pair Corr
0.86	AXL	American Axle Manufa	Pair Corr
0.93	BWA	BorgWarner	Pair Corr
0.94	FOXF	Fox Factory Holding	Pair Corr
0.78	GGR	Gogoro Inc	Pair Corr
0.95	HOG	Harley Davidson	Pair Corr
0.82	LOT	Lotus Technology American	Pair Corr
0.94	MGA	Magna International	Pair Corr
0.84	MOD	Modine Manufacturing	Pair Corr
0.77	SEG	Seaport Entertainment	Pair Corr
0.68	SMP	Standard Motor Products	Pair Corr

Moving against Gentex Stock

0.71	LI	Li Auto Sell-off Trend	Pair Corr
0.65	DAN	Dana Inc	Pair Corr
0.43	ECX	ECARX Holdings Class	Pair Corr
0.41	HMC	Honda Motor	Pair Corr
0.84	HSAI	Hesai Group American Trending	Pair Corr
0.77	NIU	Niu Technologies Earnings Call This Week	Pair Corr
0.76	XPEV	Xpeng Inc Aggressive Push	Pair Corr
0.7	KNDI	Kandi Technologies	Pair Corr
0.5	FFIEW	Faraday Future Intel Symbol Change	Pair Corr
0.38	GGROW	Gogoro Equity Warrant	Pair Corr
0.34	ZAPPW	Zapp Electric Vehicles	Pair Corr

Related Correlations Analysis

	ADNT	ALV	FOXF	DAN	LEA	DORM	BWA	MNRO	MPAA
ADNT		0.44	0.71	-0.13	0.42	0.52	0.83	0.76	-0.5	ADNT
ALV	0.44		0.22	0.35	0.45	0.27	0.4	0.05	0.02	ALV
FOXF	0.71	0.22		-0.63	0.21	0.71	0.9	0.93	-0.37	FOXF
DAN	-0.13	0.35	-0.63		0.24	-0.2	-0.44	-0.66	0.18	DAN
LEA	0.42	0.45	0.21	0.24		0.3	0.3	0.19	0.23	LEA
DORM	0.52	0.27	0.71	-0.2	0.3		0.72	0.62	-0.23	DORM
BWA	0.83	0.4	0.9	-0.44	0.3	0.72		0.86	-0.52	BWA
MNRO	0.76	0.05	0.93	-0.66	0.19	0.62	0.86		-0.44	MNRO
MPAA	-0.5	0.02	-0.37	0.18	0.23	-0.23	-0.52	-0.44		MPAA
	ADNT	ALV	FOXF	DAN	LEA	DORM	BWA	MNRO	MPAA

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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

MNRO	+ 0.93	FOXF
BWA	+ 0.9	FOXF
MNRO	+ 0.86	BWA
BWA	+ 0.83	ADNT
MNRO	+ 0.76	ADNT
BWA	+ 0.72	DORM

High negative correlations

MNRO	- 0.66	DAN
DAN	- 0.63	FOXF
MPAA	- 0.52	BWA
MPAA	- 0.5	ADNT
MPAA	- 0.44	MNRO
BWA	- 0.44	DAN

Risk-Adjusted Indicators

There is a big difference between Gentex Stock performing well and Gentex 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 Gentex'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
ADNT	2.16	(0.29)	0.00	(0.33)	0.00	0.00	3.74	(4.95)	10.62
ALV	1.42	0.00	0.00	(0.11)	0.00	0.00	2.54	(3.00)	9.68
FOXF	2.08	(0.17)	0.00	(0.26)	0.00	0.00	3.41	(4.31)	15.53
DAN	2.20	0.42	0.15	0.19	2.38	(2.34)	5.46	(3.75)	19.62
LEA	1.40	0.03	0.00	(0.07)	0.00	0.00	2.31	(2.86)	8.61
DORM	1.23	(0.03)	0.00	(0.15)	0.00	0.00	2.60	(3.19)	7.99
BWA	1.49	(0.15)	0.00	(0.29)	0.00	0.00	1.96	(2.90)	6.54
MNRO	1.68	(0.66)	0.00	(1.19)	0.00	0.00	2.69	(4.22)	9.63
MPAA	3.53	0.60	0.19	0.64	3.21	(4.54)	10.61	(5.33)	22.07

Gentex Corporate Management

Scott Ryan	Assistant General Counsel and Corporate Secretary	Profile
Craig Piersma	Vice Communications	Profile
Josh OBerski	Marketing and Investor Relations	Profile
Paul Flynn	Vice Operations	Profile
Joseph IV	VP Officer	Profile

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