Magna International Correlations

Magna International Correlation With Market

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Magna International. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price. For information on how to trade Magna Stock refer to our How to Trade Magna Stock guide.

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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    FOXF + 0.91 APTV FOXF + 0.89 ADNT ADNT + 0.86 LEA ADNT + 0.85 APTV LEA + 0.84 APTV FOXF + 0.84 LEA

High negative correlations    APTV - 0.85 ALSN LEA - 0.81 ALSN FOXF - 0.79 ALSN ADNT - 0.64 ALSN LKQ - 0.52 ALSN FOXF - 0.46 ALV

Risk-Adjusted Indicators

There is a big difference between Magna Stock performing well and Magna 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 Magna 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.