Huadi International Correlations

HUDI Stock

USD 1.57 0.01 0.64%

The current 90-days correlation between Huadi International and Olympic Steel is -0.06 (i.e., Good diversification). The correlation of Huadi International 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.

Huadi International Correlation With Market

Good diversification

The correlation between Huadi International Group and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Huadi International Group 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 Huadi International Group. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving against Huadi Stock

0.61	AEM	Agnico Eagle Mines Sell-off Trend	Pair Corr
0.58	AU	AngloGold Ashanti plc	Pair Corr
0.57	TX	Ternium SA ADR	Pair Corr
0.56	MT	ArcelorMittal SA ADR	Pair Corr
0.56	AGI	Alamos Gold	Pair Corr
0.47	X	United States Steel	Pair Corr
0.46	WLKP	Westlake Chemical	Pair Corr
0.41	OR	Osisko Gold Ro	Pair Corr
0.38	DC	Dakota Gold Corp	Pair Corr
0.35	AG	First Majestic Silver	Pair Corr
0.67	HMY	Harmony Gold Mining	Pair Corr
0.62	NGD	New Gold	Pair Corr
0.6	DRD	DRDGOLD Limited ADR	Pair Corr
0.59	FNV	Franco Nevada	Pair Corr
0.59	GFI	Gold Fields	Pair Corr
0.57	FSM	Fortuna Silver Mines	Pair Corr
0.57	KGC	Kinross Gold Aggressive Push	Pair Corr
0.56	EQX	Equinox Gold Corp	Pair Corr
0.56	NEM	Newmont Goldcorp Corp	Pair Corr
0.49	EXK	Endeavour Silver Corp	Pair Corr
0.49	IDR	Idaho Strategic Resources	Pair Corr
0.43	IAG	IAMGold	Pair Corr
0.43	NUE	Nucor Corp	Pair Corr
0.33	PKX	POSCO Holdings	Pair Corr
0.31	FRD	Friedman Industries Downward Rally	Pair Corr

Related Correlations Analysis

	ZEUS	SCHN	STLD	CMC	NUE	GGB	USNZY	TX	PKX
ZEUS		0.0	0.4	0.75	0.29	0.52	0.33	-0.09	-0.3	ZEUS
SCHN	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	SCHN
STLD	0.4	0.0		0.13	0.94	0.02	0.56	0.21	0.01	STLD
CMC	0.75	0.0	0.13		-0.05	0.45	-0.1	-0.43	-0.56	CMC
NUE	0.29	0.0	0.94	-0.05		0.02	0.68	0.34	0.13	NUE
GGB	0.52	0.0	0.02	0.45	0.02		0.37	0.32	0.03	GGB
USNZY	0.33	0.0	0.56	-0.1	0.68	0.37		0.6	0.36	USNZY
TX	-0.09	0.0	0.21	-0.43	0.34	0.32	0.6		0.66	TX
PKX	-0.3	0.0	0.01	-0.56	0.13	0.03	0.36	0.66		PKX
	ZEUS	SCHN	STLD	CMC	NUE	GGB	USNZY	TX	PKX

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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

NUE	+ 0.94	STLD
CMC	+ 0.75	ZEUS
USNZY	+ 0.68	NUE
PKX	+ 0.66	TX
TX	+ 0.6	USNZY
USNZY	+ 0.56	STLD

High negative correlations

PKX	- 0.56	CMC
TX	- 0.43	CMC
PKX	- 0.3	ZEUS
USNZY	- 0.1	CMC
TX	- 0.09	ZEUS
NUE	- 0.05	CMC

Risk-Adjusted Indicators

There is a big difference between Huadi Stock performing well and Huadi International 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 Huadi International'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
ZEUS	2.05	(0.23)	0.00	(0.25)	0.00	0.00	3.32	(4.65)	13.58
SCHN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
STLD	1.59	0.12	0.06	0.07	1.77	(1.78)	4.13	(3.16)	10.47
CMC	1.85	(0.15)	0.00	(0.15)	0.00	0.00	4.16	(3.76)	10.89
NUE	1.62	0.10	0.04	0.05	2.24	(1.55)	3.99	(3.37)	11.36
GGB	1.74	(0.07)	0.00	(0.12)	0.00	0.00	3.96	(3.56)	10.97
USNZY	2.86	0.11	0.03	0.17	3.25	(4.03)	8.51	(5.75)	23.26
TX	1.37	0.05	0.05	(0.59)	1.60	(1.47)	2.58	(2.74)	7.48
PKX	1.86	0.22	0.09	0.25	2.32	(1.89)	4.76	(3.76)	14.35

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