Ingles Markets Correlations

IMKTA Stock

USD 64.56 1.57 2.49%

The current 90-days correlation between Ingles Markets and Weis Markets is 0.67 (i.e., Poor diversification). The correlation of Ingles Markets 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.

Ingles Markets Correlation With Market

Modest diversification

The correlation between Ingles Markets Incorporated and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ingles Markets Incorporated 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 Ingles Markets Incorporated. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with Ingles Stock

0.66	TGT	Target	Pair Corr
0.69	PFGC	Performance Food	Pair Corr
0.73	FC	Franklin Covey	Pair Corr
0.81	GO	Grocery Outlet Holding	Pair Corr
0.66	LW	Lamb Weston Holdings Earnings Call This Week	Pair Corr
0.72	DNUT	Krispy Kreme	Pair Corr
0.71	VINE	Fresh Grapes LLC Symbol Change	Pair Corr
0.61	VITL	Vital Farms	Pair Corr

Moving against Ingles Stock

0.62	MO	Altria Group	Pair Corr
0.59	K	Kellanova Earnings Call This Week	Pair Corr
0.58	KO	Coca Cola Aggressive Push	Pair Corr
0.51	JZ	Jianzhi Education	Pair Corr
0.38	SPTN	SpartanNash	Pair Corr
0.37	DG	Dollar General	Pair Corr
0.34	KR	Kroger Company	Pair Corr
0.58	FARM	Farmer Bros	Pair Corr
0.52	VSTA	Vasta Platform Trending	Pair Corr
0.48	PM	Philip Morris Intern	Pair Corr
0.47	YI	111 Inc	Pair Corr
0.41	WYHG	Wing Yip Food	Pair Corr
0.4	DOLE	Dole PLC	Pair Corr
0.36	YQ	17 Education Technology	Pair Corr
0.31	TR	Tootsie Roll Industries	Pair Corr

Related Correlations Analysis

	WMK	NGVC	ASAI	GO	VLGEA	ADRNY	ACI	KR	OCDDY
WMK		-0.28	-0.9	-0.72	0.29	0.0	0.77	0.82	-0.61	WMK
NGVC	-0.28		0.33	0.46	0.3	0.0	0.07	0.17	0.59	NGVC
ASAI	-0.9	0.33		0.82	-0.19	0.0	-0.67	-0.73	0.66	ASAI
GO	-0.72	0.46	0.82		0.08	0.0	-0.51	-0.48	0.7	GO
VLGEA	0.29	0.3	-0.19	0.08		0.0	0.48	0.37	0.03	VLGEA
ADRNY	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	ADRNY
ACI	0.77	0.07	-0.67	-0.51	0.48	0.0		0.79	-0.37	ACI
KR	0.82	0.17	-0.73	-0.48	0.37	0.0	0.79		-0.28	KR
OCDDY	-0.61	0.59	0.66	0.7	0.03	0.0	-0.37	-0.28		OCDDY
	WMK	NGVC	ASAI	GO	VLGEA	ADRNY	ACI	KR	OCDDY

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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

KR	+ 0.82	WMK
GO	+ 0.82	ASAI
KR	+ 0.79	ACI
ACI	+ 0.77	WMK
OCDDY	+ 0.7	GO
OCDDY	+ 0.66	ASAI

High negative correlations

ASAI	- 0.9	WMK
KR	- 0.73	ASAI
GO	- 0.72	WMK
ACI	- 0.67	ASAI
OCDDY	- 0.61	WMK
ACI	- 0.51	GO

Risk-Adjusted Indicators

There is a big difference between Ingles Stock performing well and Ingles Markets 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 Ingles Markets' 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
WMK	1.32	0.13	0.07	0.38	1.76	(1.28)	2.78	(2.87)	8.78
NGVC	2.32	0.04	0.01	0.02	3.37	(2.17)	4.46	(4.96)	16.17
ASAI	3.01	(0.36)	0.00	(0.73)	0.00	0.00	6.51	(7.48)	23.54
GO	2.91	(0.24)	0.00	(0.59)	0.00	0.00	7.64	(4.76)	38.19
VLGEA	1.36	0.15	0.09	0.24	1.51	(1.43)	2.82	(2.84)	10.84
ADRNY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ACI	1.18	0.13	0.07	(0.53)	1.56	(1.13)	3.42	(2.39)	8.11
KR	1.10	0.08	0.06	0.37	1.25	(1.22)	2.25	(2.34)	6.92
OCDDY	3.31	0.13	0.03	0.07	4.56	(3.55)	7.99	(5.26)	29.71

Ingles Markets Corporate Executives

Elected by the shareholders, the Ingles Markets' board of directors comprises two types of representatives: Ingles Markets inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Ingles. The board's role is to monitor Ingles Markets' management team and ensure that shareholders' interests are well served. Ingles Markets' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Ingles Markets' outside directors are responsible for providing unbiased perspectives on the board's policies.

Patricia CPA

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