Hydrofarm Holdings Correlations

HYFM Stock

USD 2.33 0.06 2.51%

The current 90-days correlation between Hydrofarm Holdings and Gencor Industries is -0.03 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Hydrofarm Holdings moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hydrofarm Holdings Group moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Hydrofarm Holdings Correlation With Market

Significant diversification

The correlation between Hydrofarm Holdings Group and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hydrofarm Holdings 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 Hydrofarm Holdings 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 census.

Moving together with Hydrofarm Stock

0.85	GP	GreenPower Motor	Pair Corr
0.85	HY	Hyster Yale Materials	Pair Corr
0.64	CAT	Caterpillar	Pair Corr
0.84	TEX	Terex	Pair Corr
0.73	WNC	Wabash National	Pair Corr
0.63	GENC	Gencor Industries	Pair Corr
0.66	PCAR	PACCAR Inc	Pair Corr
0.61	AGFY	Agrify Corp	Pair Corr
0.86	SHYF	Shyft Group	Pair Corr
0.74	CMCO	Columbus McKinnon	Pair Corr
0.82	J	Jacobs Solutions	Pair Corr
0.79	R	Ryder System Earnings Call This Week	Pair Corr
0.8	BV	BrightView Holdings	Pair Corr
0.84	BW	Babcock Wilcox Enter	Pair Corr
0.79	DY	Dycom Industries	Pair Corr

Moving against Hydrofarm Stock

0.63	CEADW	CEA Industries Warrant	Pair Corr
0.41	DE	Deere Company	Pair Corr
0.33	TWI	Titan International	Pair Corr
0.31	CNH	CNH Industrial NV Symbol Change	Pair Corr
0.7	ASTE	Astec Industries	Pair Corr
0.33	G	Genpact Limited	Pair Corr

Related Correlations Analysis

	GENC	CEAD	ARTW	CUBXF	BIIAF	CEADW	TYIDY	AMMX	TGHLF	WNC
GENC		-0.5	0.4	-0.5	0.0	-0.47	-0.22	0.26	-0.12	0.95	GENC
CEAD	-0.5		-0.17	0.39	0.0	0.06	0.07	0.05	0.63	-0.46	CEAD
ARTW	0.4	-0.17		-0.48	0.0	-0.19	-0.23	0.18	0.04	0.42	ARTW
CUBXF	-0.5	0.39	-0.48		0.0	0.22	0.19	-0.28	0.25	-0.48	CUBXF
BIIAF	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	BIIAF
CEADW	-0.47	0.06	-0.19	0.22	0.0		0.13	-0.15	-0.21	-0.44	CEADW
TYIDY	-0.22	0.07	-0.23	0.19	0.0	0.13		-0.27	0.33	-0.4	TYIDY
AMMX	0.26	0.05	0.18	-0.28	0.0	-0.15	-0.27		0.08	0.4	AMMX
TGHLF	-0.12	0.63	0.04	0.25	0.0	-0.21	0.33	0.08		-0.21	TGHLF
WNC	0.95	-0.46	0.42	-0.48	0.0	-0.44	-0.4	0.4	-0.21		WNC
	GENC	CEAD	ARTW	CUBXF	BIIAF	CEADW	TYIDY	AMMX	TGHLF	WNC

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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

WNC	+ 0.95	GENC
TGHLF	+ 0.63	CEAD
WNC	+ 0.42	ARTW
ARTW	+ 0.4	GENC
WNC	+ 0.4	AMMX
CUBXF	+ 0.39	CEAD

High negative correlations

CUBXF	- 0.5	GENC
CEAD	- 0.5	GENC
WNC	- 0.48	CUBXF
CUBXF	- 0.48	ARTW
CEADW	- 0.47	GENC
WNC	- 0.46	CEAD

Risk-Adjusted Indicators

There is a big difference between Hydrofarm Stock performing well and Hydrofarm 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 Hydrofarm 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
GENC	2.40	(0.63)	0.00	(0.52)	0.00	0.00	3.65	(5.58)	15.04
CEAD	4.44	0.19	0.03	0.24	5.32	(5.61)	10.19	(8.60)	36.65
ARTW	4.02	0.13	0.02	(0.10)	7.54	(5.05)	4.91	(7.53)	87.26
CUBXF	24.74	9.42	0.29	0.94	15.17	(66.11)	42.86	(26.09)	367.50
BIIAF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CEADW	26.30	6.83	0.26	(3.23)	21.60	(33.48)	50.00	(42.27)	291.29
TYIDY	1.52	0.18	0.09	0.23	1.78	(1.63)	2.99	(2.67)	9.15
AMMX	1.94	(0.02)	0.00	0.45	0.00	0.00	5.26	(5.26)	25.76
TGHLF	2.59	0.20	0.04	0.22	3.17	(3.97)	6.06	(5.63)	21.48
WNC	2.22	(0.64)	0.00	(0.81)	0.00	0.00	4.28	(5.52)	13.46

Hydrofarm Holdings Corporate Management

Gerard Cantwell	Senior Chain	Profile
Chris Mayer	Senior Sales	Profile
Kevin OBrien	Chief Officer	Profile
John Lindeman	Chief Officer	Profile
Eric Ceresnie	Senior Development	Profile
Mark Parker	Executive Development	Profile

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