Kornit Digital Correlations

KRNT Stock

USD 30.75 0.20 0.65%

The current 90-days correlation between Kornit Digital and Enerpac Tool Group is 0.62 (i.e., Poor diversification). The correlation of Kornit Digital 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Kornit Digital Correlation With Market

Average diversification

The correlation between Kornit Digital and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kornit Digital and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Kornit Digital. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

For more information on how to buy Kornit Stock please use our How to Invest in Kornit Digital guide.

Moving together with Kornit Stock

0.86	HI	Hillenbrand	Pair Corr
0.75	PH	Parker Hannifin	Pair Corr
0.87	AME	Ametek Inc	Pair Corr
0.88	CMI	Cummins	Pair Corr
0.7	CXT	Crane NXT	Pair Corr
0.63	DOV	Dover	Pair Corr
0.95	EMR	Emerson Electric	Pair Corr
0.91	FLS	Flowserve	Pair Corr
0.64	GGG	Graco Inc	Pair Corr
0.89	GHM	Graham	Pair Corr
0.72	GRC	Gorman Rupp	Pair Corr
0.63	IEX	IDEX	Pair Corr
0.65	ITW	Illinois Tool Works	Pair Corr
0.79	JBT	John Bean Technologies	Pair Corr
0.77	KAI	Kadant Inc	Pair Corr
0.74	MIR	Mirion Technologies	Pair Corr
0.8	MWA	Mueller Water Products	Pair Corr
0.73	XMTR	Xometry	Pair Corr
0.75	NNE	Nano Nuclear Energy	Pair Corr
0.84	NPO	Enpro Industries	Pair Corr
0.8	PNR	Pentair PLC	Pair Corr
0.82	ROK	Rockwell Automation	Pair Corr
0.67	SMR	Nuscale Power Corp	Pair Corr
0.78	SXI	Standex International	Pair Corr
0.74	THR	Thermon Group Holdings	Pair Corr

Moving against Kornit Stock

0.69	BW	Babcock Wilcox Enter	Pair Corr
0.69	AOS	Smith AO	Pair Corr
0.68	MKDWW	MKDWELL Tech Warrants	Pair Corr
0.65	XYL	Xylem Inc Sell-off Trend	Pair Corr
0.59	TNC	Tennant Company	Pair Corr
0.59	GTEC	Greenland Acquisition	Pair Corr

Related Correlations Analysis

	MIDD	NPO	KAI	ITT	FELE	EPAC	OFLX	LXFR	GRC	JBT
MIDD		0.55	0.63	0.69	0.64	0.62	0.25	0.38	0.73	0.37	MIDD
NPO	0.55		0.74	0.62	0.45	0.49	-0.35	0.48	0.77	0.64	NPO
KAI	0.63	0.74		0.75	0.65	0.81	0.23	0.86	0.92	0.63	KAI
ITT	0.69	0.62	0.75		0.92	0.7	0.39	0.52	0.88	0.1	ITT
FELE	0.64	0.45	0.65	0.92		0.72	0.54	0.48	0.81	-0.03	FELE
EPAC	0.62	0.49	0.81	0.7	0.72		0.5	0.8	0.86	0.43	EPAC
OFLX	0.25	-0.35	0.23	0.39	0.54	0.5		0.37	0.28	-0.34	OFLX
LXFR	0.38	0.48	0.86	0.52	0.48	0.8	0.37		0.73	0.53	LXFR
GRC	0.73	0.77	0.92	0.88	0.81	0.86	0.28	0.73		0.46	GRC
JBT	0.37	0.64	0.63	0.1	-0.03	0.43	-0.34	0.53	0.46		JBT
	MIDD	NPO	KAI	ITT	FELE	EPAC	OFLX	LXFR	GRC	JBT

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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

GRC	+ 0.92	KAI
FELE	+ 0.92	ITT
GRC	+ 0.88	ITT
LXFR	+ 0.86	KAI
GRC	+ 0.86	EPAC
EPAC	+ 0.81	KAI

High negative correlations

OFLX	- 0.35	NPO
JBT	- 0.34	OFLX
JBT	- 0.03	FELE

Risk-Adjusted Indicators

There is a big difference between Kornit Stock performing well and Kornit Digital 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 Kornit Digital'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
MIDD	1.22	(0.05)	0.00	(0.22)	0.00	0.00	3.06	(2.53)	11.01
NPO	1.50	0.08	0.04	0.47	1.88	(1.54)	2.56	(2.50)	17.55
KAI	1.44	0.05	0.03	0.10	1.60	(1.82)	3.28	(2.91)	11.67
ITT	1.03	(0.08)	0.00	(0.25)	0.00	0.00	2.14	(1.96)	9.57
FELE	1.09	(0.13)	0.00	(0.48)	0.00	0.00	1.88	(2.14)	13.66
EPAC	1.36	(0.05)	0.00	(0.11)	0.00	0.00	2.84	(2.90)	13.10
OFLX	1.52	(0.28)	0.00	(2.22)	0.00	0.00	3.44	(2.71)	11.71
LXFR	1.71	0.06	0.03	0.18	1.76	(2.16)	3.46	(2.97)	18.80
GRC	1.28	(0.05)	0.00	(0.38)	0.00	0.00	2.25	(2.42)	14.03
JBT	1.77	0.40	0.21	(2.01)	1.59	(2.05)	3.40	(3.06)	21.43

Kornit Digital Corporate Management

David Tomer	Chief Operations	Profile
Ilan Givon	Executive Operations	Profile
Jared Maymon	Global Relations	Profile
Kobi Mann	Chief Officer	Profile

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