Lear Correlations

LEA Stock

USD 97.84 0.59 0.61%

The current 90-days correlation between Lear and LKQ Corporation is 0.55 (i.e., Very weak diversification). The correlation of Lear 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.

Lear Correlation With Market

Very weak diversification

The correlation between Lear Corp. and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Lear Corp. 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 Lear Corporation. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with Lear Stock

0.68	TM	Toyota Motor	Pair Corr
0.61	VC	Visteon Corp	Pair Corr
0.84	FOXF	Fox Factory Holding	Pair Corr
0.81	HMC	Honda Motor	Pair Corr
0.84	HOG	Harley Davidson	Pair Corr
0.89	ZAPP	Zapp Electric Vehicles	Pair Corr
0.87	LCID	Lucid Group Aggressive Push	Pair Corr
0.62	RACE	Ferrari NV	Pair Corr
0.76	AYRO	AYRO Inc	Pair Corr
0.71	STLA	Stellantis NV	Pair Corr
0.93	DOOO	BRP Inc	Pair Corr
0.63	EDTK	Skillful Craftsman	Pair Corr
0.76	WING	Wingstop	Pair Corr

Moving against Lear Stock

0.73	GM	General Motors	Pair Corr
0.73	RL	Ralph Lauren Corp	Pair Corr
0.61	XPEV	Xpeng Inc	Pair Corr
0.61	MTEN	Mingteng International	Pair Corr
0.49	HD	Home Depot	Pair Corr
0.43	RH	RH Earnings Call This Week	Pair Corr
0.86	EVRI	Everi Holdings	Pair Corr
0.85	FLXS	Flexsteel Industries	Pair Corr
0.81	VSCO	Victorias Secret	Pair Corr
0.8	DOGZ	Dogness International	Pair Corr
0.79	EXPE	Expedia Group	Pair Corr
0.77	WRBY	Warby Parker	Pair Corr
0.76	AGS	PlayAGS	Pair Corr
0.63	WEYS	Weyco Group	Pair Corr
0.58	ADT	ADT Inc	Pair Corr
0.47	UA	Under Armour C	Pair Corr

Related Correlations Analysis

	FOXF	LKQ	DORM	SRI	ALV	AXL	ADNT	VC	ALSN
FOXF		0.53	-0.8	0.8	-0.46	-0.23	0.89	0.4	-0.79	FOXF
LKQ	0.53		-0.32	0.72	0.22	0.23	0.53	0.63	-0.52	LKQ
DORM	-0.8	-0.32		-0.83	0.5	0.55	-0.71	-0.28	0.91	DORM
SRI	0.8	0.72	-0.83		-0.2	-0.33	0.71	0.57	-0.93	SRI
ALV	-0.46	0.22	0.5	-0.2		0.62	-0.21	0.32	0.41	ALV
AXL	-0.23	0.23	0.55	-0.33	0.62		0.02	0.26	0.56	AXL
ADNT	0.89	0.53	-0.71	0.71	-0.21	0.02		0.53	-0.64	ADNT
VC	0.4	0.63	-0.28	0.57	0.32	0.26	0.53		-0.34	VC
ALSN	-0.79	-0.52	0.91	-0.93	0.41	0.56	-0.64	-0.34		ALSN
	FOXF	LKQ	DORM	SRI	ALV	AXL	ADNT	VC	ALSN

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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

ALSN	+ 0.91	DORM
ADNT	+ 0.89	FOXF
SRI	+ 0.8	FOXF
SRI	+ 0.72	LKQ
ADNT	+ 0.71	SRI
VC	+ 0.63	LKQ

High negative correlations

ALSN	- 0.93	SRI
SRI	- 0.83	DORM
DORM	- 0.8	FOXF
ALSN	- 0.79	FOXF
ADNT	- 0.71	DORM
ALSN	- 0.64	ADNT

Risk-Adjusted Indicators

There is a big difference between Lear Stock performing well and Lear 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 Lear'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
FOXF	1.96	(0.53)	0.00	(0.14)	0.00	0.00	3.31	(4.97)	15.31
LKQ	1.06	(0.20)	0.00	(0.10)	0.00	0.00	2.60	(2.48)	7.01
DORM	1.32	0.25	0.18	0.42	0.97	(1.56)	3.10	(2.12)	14.67
SRI	2.77	(1.03)	0.00	(3.25)	0.00	0.00	4.32	(6.29)	30.05
ALV	1.54	(0.13)	(0.07)	(0.01)	1.84	(1.59)	2.80	(3.14)	8.85
AXL	2.02	(0.20)	(0.03)	0.03	2.20	(2.23)	5.00	(3.27)	12.38
ADNT	1.90	(0.39)	0.00	(0.14)	0.00	0.00	4.08	(4.22)	10.66
VC	1.65	(0.26)	0.00	(0.07)	0.00	0.00	3.18	(4.17)	10.13
ALSN	1.19	0.22	0.24	0.28	0.78	(1.44)	2.73	(1.39)	9.25

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