Hubbell Correlations

HUBB Stock

USD 372.21 2.96 0.80%

The current 90-days correlation between Hubbell and Enersys is 0.37 (i.e., Weak diversification). The correlation of Hubbell 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.

Hubbell Correlation With Market

Weak diversification

The correlation between Hubbell and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hubbell 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 Hubbell. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

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

Moving together with Hubbell Stock

0.79	KE	Kimball Electronics	Pair Corr
0.72	NEOV	NeoVolta Common Stock	Pair Corr
0.66	FCEL	FuelCell Energy	Pair Corr
0.89	EAF	GrafTech International	Pair Corr
0.91	ENR	Energizer Holdings	Pair Corr
0.67	GTI	Graphjet Technology Symbol Change	Pair Corr
0.91	NVT	nVent Electric PLC Sell-off Trend	Pair Corr
0.64	NVX	Novonix Ltd ADR Earnings Call This Week	Pair Corr
0.68	XPON	Expion360	Pair Corr
0.79	VRT	Vertiv Holdings	Pair Corr
0.82	PITA	Heramba Electric plc	Pair Corr
0.88	POWL	Powell Industries	Pair Corr
0.83	PPSI	Pioneer Power Solutions	Pair Corr

Moving against Hubbell Stock

0.51	MVST	Microvast Holdings	Pair Corr
0.5	EOSE	Eos Energy Enterprises Earnings Call This Week	Pair Corr
0.48	SLDPW	Solid Power	Pair Corr
0.47	EPOW	Sunrise New Energy	Pair Corr
0.38	ENS	Enersys	Pair Corr
0.37	OPTT	Ocean Power Technologies	Pair Corr
0.36	ENVX	Enovix Corp	Pair Corr
0.7	SKYX	SKYX Platforms Corp	Pair Corr
0.64	RFIL	RF Industries	Pair Corr
0.61	GAUZ	Gauzy Ordinary	Pair Corr
0.52	MVSTW	Microvast Holdings	Pair Corr
0.52	AMPX	Amprius Technologies	Pair Corr
0.51	DFLIW	Chardan NexTech Acqu	Pair Corr
0.46	ADSE	Ads Tec Energy	Pair Corr
0.4	EOSEW	Eos Energy Enterprises	Pair Corr
0.39	RAYA	Erayak Power Solution	Pair Corr

Related Correlations Analysis

	AEIS	ENS	AYI	KE	NVT	VRT	ENR	HOLI	ATKR	ESP
AEIS		0.43	0.18	0.08	0.02	-0.02	-0.24	0.0	-0.12	-0.26	AEIS
ENS	0.43		0.56	-0.27	-0.17	-0.21	-0.49	0.0	-0.43	-0.26	ENS
AYI	0.18	0.56		0.06	0.25	0.33	-0.01	0.0	0.06	0.04	AYI
KE	0.08	-0.27	0.06		0.69	0.52	0.82	0.0	0.8	0.55	KE
NVT	0.02	-0.17	0.25	0.69		0.79	0.82	0.0	0.8	0.43	NVT
VRT	-0.02	-0.21	0.33	0.52	0.79		0.59	0.0	0.64	0.4	VRT
ENR	-0.24	-0.49	-0.01	0.82	0.82	0.59		0.0	0.9	0.54	ENR
HOLI	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	HOLI
ATKR	-0.12	-0.43	0.06	0.8	0.8	0.64	0.9	0.0		0.53	ATKR
ESP	-0.26	-0.26	0.04	0.55	0.43	0.4	0.54	0.0	0.53		ESP
	AEIS	ENS	AYI	KE	NVT	VRT	ENR	HOLI	ATKR	ESP

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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

ATKR	+ 0.9	ENR
ENR	+ 0.82	KE
ENR	+ 0.82	NVT
ATKR	+ 0.8	KE
ATKR	+ 0.8	NVT
VRT	+ 0.79	NVT

High negative correlations

ENR	- 0.49	ENS
ATKR	- 0.43	ENS
KE	- 0.27	ENS
ESP	- 0.26	ENS
ESP	- 0.26	AEIS
ENR	- 0.24	AEIS

Risk-Adjusted Indicators

There is a big difference between Hubbell Stock performing well and Hubbell 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 Hubbell'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
AEIS	1.84	0.18	0.07	0.25	2.42	(1.96)	3.80	(3.40)	14.93
ENS	1.27	0.09	0.06	0.15	1.50	(1.30)	2.61	(2.58)	7.79
AYI	1.22	(0.08)	0.00	(0.07)	0.00	0.00	2.19	(2.67)	9.89
KE	1.36	(0.05)	0.00	(0.08)	0.00	0.00	2.21	(3.28)	7.44
NVT	1.66	(0.27)	0.00	(0.33)	0.00	0.00	3.32	(3.98)	20.48
VRT	3.41	(0.30)	0.00	(0.25)	0.00	0.00	6.23	(5.80)	44.45
ENR	1.12	(0.11)	0.00	(0.17)	0.00	0.00	2.09	(2.62)	12.36
HOLI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ATKR	2.07	(0.43)	0.00	(0.63)	0.00	0.00	3.83	(3.71)	25.04
ESP	1.82	(0.18)	0.00	(0.49)	0.00	0.00	3.76	(3.37)	15.86

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