Highway Holdings Correlations
| HIHO Stock | USD 1.85 0.01 0.54% |
A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Highway Holdings moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Highway Holdings Limited moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Highway Holdings Correlation With Market
Significant diversification
The correlation between Highway Holdings Limited and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Highway Holdings Limited and DJI in the same portfolio, assuming nothing else is changed.
Highway |
Moving against Highway Stock
| 0.61 | RYI | Ryerson Holding Corp | PairCorr |
| 0.61 | G | Genpact Limited Sell-off Trend | PairCorr |
| 0.6 | ATI | Allegheny Technologies | PairCorr |
| 0.55 | IIIN | Insteel Industries | PairCorr |
| 0.53 | PRLB | Proto Labs | PairCorr |
| 0.45 | WOR | Worthington Industries | PairCorr |
| 0.36 | CRS | Carpenter Technology Sell-off Trend | PairCorr |
| 0.34 | CMPO | CompoSecure Earnings Call This Week | PairCorr |
| 0.33 | ESAB | ESAB Corp Earnings Call Tomorrow | PairCorr |
| 0.65 | BR | Broadridge Financial | PairCorr |
| 0.64 | LZ | LegalZoom | PairCorr |
| 0.61 | DE | Deere Company | PairCorr |
| 0.61 | MG | Mistras Group Earnings Call This Week | PairCorr |
| 0.59 | PH | Parker Hannifin | PairCorr |
| 0.58 | GE | GE Aerospace | PairCorr |
| 0.54 | CR | Crane Company | PairCorr |
| 0.46 | CP | Canadian Pacific Railway | PairCorr |
| 0.43 | FA | First Advantage Corp Earnings Call Tomorrow | PairCorr |
| 0.41 | HY | Hyster Yale Materials | PairCorr |
| 0.4 | HI | Hillenbrand | PairCorr |
| 0.39 | EH | Ehang Holdings | PairCorr |
| 0.37 | KC | Kingsoft Cloud Holdings | PairCorr |
| 0.31 | OC | Owens Corning | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Highway Stock performing well and Highway Holdings 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 Highway Holdings' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| BNSO | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| DSWL | 1.14 | (0.08) | 0.00 | (0.36) | 0.00 | 2.58 | 6.97 | |||
| CLWT | 1.66 | (0.29) | 0.00 | 1.36 | 0.00 | 2.88 | 9.76 | |||
| CHNR | 3.78 | 0.06 | 0.01 | 0.04 | 4.69 | 10.77 | 31.13 | |||
| ARTW | 4.49 | 0.46 | 0.06 | (0.32) | 7.28 | 5.85 | 87.26 |
Highway Holdings Corporate Executives
Elected by the shareholders, the Highway Holdings' board of directors comprises two types of representatives: Highway Holdings inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Highway. The board's role is to monitor Highway Holdings' management team and ensure that shareholders' interests are well served. Highway Holdings' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Highway Holdings' outside directors are responsible for providing unbiased perspectives on the board's policies.