Harley Davidson Correlations

HOG Stock

USD 25.35 0.14 0.56%

The current 90-days correlation between Harley Davidson and Hertz Global Hldgs is 0.34 (i.e., Weak diversification). The correlation of Harley Davidson 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.

Harley Davidson Correlation With Market

Average diversification

The correlation between Harley Davidson and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Harley Davidson 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 Harley Davidson. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

For more detail on how to invest in Harley Stock please use our How to Invest in Harley Davidson guide.

Moving together with Harley Stock

0.66	GM	General Motors Aggressive Push	Pair Corr
0.71	QS	Quantumscape Corp Aggressive Push	Pair Corr
0.89	VLCN	Volcon Inc	Pair Corr
0.76	ECDA	ECD Automotive Design	Pair Corr
0.92	EVTV	Envirotech Vehicles Earnings Call This Week	Pair Corr
0.87	WKHS	Workhorse Group	Pair Corr
0.62	WKSP	Worksport	Pair Corr
0.62	FLYE	Fly E Group,	Pair Corr
0.9	FRSX	Foresight Autonomous	Pair Corr
0.76	GGR	Gogoro Inc	Pair Corr
0.91	LOT	Lotus Technology American	Pair Corr
0.92	MGA	Magna International	Pair Corr
0.83	MOD	Modine Manufacturing	Pair Corr
0.74	SEG	Seaport Entertainment	Pair Corr
0.64	SES	SES AI Corp	Pair Corr
0.67	SRI	Stoneridge	Pair Corr

Moving against Harley Stock

0.51	LI	Li Auto	Pair Corr
0.82	XPEV	Xpeng Inc	Pair Corr
0.65	NIU	Niu Technologies Trending	Pair Corr
0.53	DAN	Dana Inc	Pair Corr
0.53	ECX	ECARX Holdings Class Buyout Trend	Pair Corr
0.47	PEV	Phoenix Motor Common	Pair Corr

Related Correlations Analysis

	ELNX	FTAIM	HTZWW	ABOS	REGN	VMD	TFX	MDXHF
ELNX		0.0	0.0	0.0	0.0	0.0	0.0	1.0	ELNX
FTAIM	0.0		-0.61	0.0	0.28	-0.4	-0.39	0.0	FTAIM
HTZWW	0.0	-0.61		-0.3	-0.01	0.03	0.16	0.0	HTZWW
ABOS	0.0	0.0	-0.3		0.07	0.78	0.76	0.0	ABOS
REGN	0.0	0.28	-0.01	0.07		-0.17	0.14	0.0	REGN
VMD	0.0	-0.4	0.03	0.78	-0.17		0.76	0.0	VMD
TFX	0.0	-0.39	0.16	0.76	0.14	0.76		0.0	TFX
MDXHF	1.0	0.0	0.0	0.0	0.0	0.0	0.0		MDXHF
	ELNX	FTAIM	HTZWW	ABOS	REGN	VMD	TFX	MDXHF

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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

MDXHF	+ 1.0	ELNX
VMD	+ 0.78	ABOS
TFX	+ 0.76	ABOS
TFX	+ 0.76	VMD
REGN	+ 0.28	FTAIM
TFX	+ 0.16	HTZWW

High negative correlations

HTZWW	- 0.61	FTAIM
VMD	- 0.4	FTAIM
TFX	- 0.39	FTAIM
ABOS	- 0.3	HTZWW
VMD	- 0.17	REGN
REGN	- 0.01	HTZWW

Risk-Adjusted Indicators

There is a big difference between Harley Stock performing well and Harley Davidson 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 Harley Davidson'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
ELNX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FTAIM	0.64	0.00	0.06	(0.08)	0.91	(0.63)	1.46	(1.66)	4.47
HTZWW	3.10	0.03	0.02	0.05	4.04	(3.47)	6.97	(7.41)	22.89
ABOS	2.97	(0.69)	0.00	(0.63)	0.00	0.00	6.57	(7.09)	19.77
REGN	1.58	(0.12)	0.00	11.05	0.00	0.00	2.82	(3.61)	9.27
VMD	1.41	(0.21)	0.00	(0.51)	0.00	0.00	2.40	(2.40)	7.52
TFX	1.52	(0.33)	0.00	(0.79)	0.00	0.00	2.59	(3.15)	24.93
MDXHF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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