Huadi International Correlations

HUDI Stock

USD 1.62 0.02 1.22%

The current 90-days correlation between Huadi International and Olympic Steel is 0.03 (i.e., Significant 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 -0.02 (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 together with Huadi Stock

0.84	AA	Alcoa Corp	Pair Corr
0.65	AG	First Majestic Silver Sell-off Trend	Pair Corr
0.88	IE	Ivanhoe Electric	Pair Corr
0.72	NG	NovaGold Resources	Pair Corr
0.63	SA	Seabridge Gold	Pair Corr
0.72	TX	Ternium SA ADR	Pair Corr
0.81	WS	Worthington Steel	Pair Corr
0.82	CMC	Commercial Metals	Pair Corr
0.8	DOW	Dow Inc	Pair Corr
0.66	ERO	Ero Copper Corp Earnings Call Tomorrow	Pair Corr
0.81	FCX	Freeport McMoran Copper	Pair Corr
0.73	GAU	Galiano Gold	Pair Corr
0.7	GGB	Gerdau SA ADR	Pair Corr
0.77	HUN	Huntsman Downward Rally	Pair Corr

Moving against Huadi Stock

0.51	AU	AngloGold Ashanti plc	Pair Corr
0.51	AGI	Alamos Gold	Pair Corr
0.46	AEM	Agnico Eagle Mines Sell-off Trend	Pair Corr
0.39	DC	Dakota Gold Corp	Pair Corr
0.33	DRD	DRDGOLD Limited ADR	Pair Corr
0.32	WLKP	Westlake Chemical	Pair Corr
0.53	FNV	Franco Nevada	Pair Corr
0.52	HMY	Harmony Gold Mining	Pair Corr
0.52	KGC	Kinross Gold	Pair Corr
0.51	GFI	Gold Fields	Pair Corr
0.48	MSB	Mesabi Trust	Pair Corr
0.44	IAG	IAMGold	Pair Corr
0.37	EQX	Equinox Gold Corp	Pair Corr

Related Correlations Analysis

	ZEUS	SCHN	STLD	CMC	NUE	GGB	USNZY	TMST	TX	PKX
ZEUS		0.0	0.71	0.94	0.77	0.91	0.75	0.0	0.9	0.66	ZEUS
SCHN	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	SCHN
STLD	0.71	0.0		0.65	0.98	0.55	0.71	0.0	0.76	0.52	STLD
CMC	0.94	0.0	0.65		0.73	0.94	0.62	0.0	0.89	0.67	CMC
NUE	0.77	0.0	0.98	0.73		0.63	0.77	0.0	0.83	0.56	NUE
GGB	0.91	0.0	0.55	0.94	0.63		0.66	0.0	0.87	0.56	GGB
USNZY	0.75	0.0	0.71	0.62	0.77	0.66		0.0	0.74	0.43	USNZY
TMST	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	TMST
TX	0.9	0.0	0.76	0.89	0.83	0.87	0.74	0.0		0.62	TX
PKX	0.66	0.0	0.52	0.67	0.56	0.56	0.43	0.0	0.62		PKX
	ZEUS	SCHN	STLD	CMC	NUE	GGB	USNZY	TMST	TX	PKX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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	+ 0.98	STLD
CMC	+ 0.94	ZEUS
GGB	+ 0.94	CMC
GGB	+ 0.91	ZEUS
TX	+ 0.9	ZEUS
TX	+ 0.89	CMC

High negative correlations

PKX	- 0.0	TMST
TX	- 0.0	TMST
TMST	- 0.0	USNZY
TMST	- 0.0	GGB
TMST	- 0.0	NUE
TMST	- 0.0	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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
ZEUS	1.99	(0.32)	(0.53)	3.32	(4.65)	13.58
SCHN	0.00	0.00	0.00	0.00	0.00	0.00
STLD	1.46	(0.06)	(0.12)	4.13	(3.23)	9.19
CMC	1.59	(0.32)	(0.36)	3.02	(3.33)	8.04
NUE	1.57	(0.10)	(0.16)	3.76	(3.37)	8.95
GGB	1.71	(0.22)	(0.35)	3.53	(4.12)	10.90
USNZY	2.78	(0.03)	(0.20)	7.95	(4.59)	16.96
TMST	0.00	0.00	0.00	0.00	0.00	0.00
TX	1.39	(0.21)	(48.45)	2.58	(3.37)	7.48
PKX	1.65	(0.21)	(0.48)	3.44	(3.76)	11.08

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC