Motorcar Parts Correlations

MPAA Stock

USD 10.32 0.07 0.67%

The current 90-days correlation between Motorcar Parts and Monro Muffler Brake is 0.14 (i.e., Average diversification). The correlation of Motorcar Parts 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.

Motorcar Parts Correlation With Market

Average diversification

The correlation between Motorcar Parts of and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Motorcar Parts of 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 Motorcar Parts of. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Motorcar Stock

0.8	LI	Li Auto	Pair Corr
0.72	IH	Ihuman Inc	Pair Corr
0.68	VIPS	Vipshop Holdings	Pair Corr
0.61	VSTA	Vasta Platform	Pair Corr

Moving against Motorcar Stock

0.8	INVZ	Innoviz Technologies	Pair Corr
0.8	RH	RH Earnings Call This Week	Pair Corr
0.75	TSLA	Tesla Inc	Pair Corr
0.74	UA	Under Armour C	Pair Corr
0.73	VFSWW	VinFast Auto	Pair Corr
0.72	BC	Brunswick	Pair Corr
0.69	W	Wayfair	Pair Corr
0.69	HD	Home Depot	Pair Corr
0.67	BWA	BorgWarner	Pair Corr
0.67	MOD	Modine Manufacturing	Pair Corr
0.65	ADNT	Adient PLC	Pair Corr
0.58	MGA	Magna International	Pair Corr
0.57	GNTX	Gentex	Pair Corr
0.52	LCID	Lucid Group	Pair Corr
0.52	RIVN	Rivian Automotive	Pair Corr
0.43	NWTN	NWTN Class B	Pair Corr
0.4	M	Macys Inc	Pair Corr
0.83	WING	Wingstop	Pair Corr
0.81	BKE	Buckle Inc	Pair Corr
0.8	EEIQ	Elite Education Group	Pair Corr
0.8	AAP	Advance Auto Parts	Pair Corr
0.8	AEO	American Eagle Outfitters	Pair Corr
0.72	DOOO	BRP Inc Earnings Call This Week	Pair Corr
0.71	VSCO	Victorias Secret	Pair Corr
0.71	WOOF	Pet Acquisition LLC	Pair Corr
0.65	ANF	Abercrombie Fitch	Pair Corr
0.62	FIVE	Five Below	Pair Corr
0.62	FLWS	1 800 FLOWERSCOM	Pair Corr
0.62	ASO	Academy Sports Outdoors	Pair Corr

Related Correlations Analysis

	MNRO	SMP	SRI	PLOW	DORM	SUP	THRM	VC	CVGI
MNRO		0.7	0.68	-0.46	0.47	0.15	0.86	0.51	0.8	MNRO
SMP	0.7		0.16	0.14	0.41	-0.16	0.82	0.53	0.84	SMP
SRI	0.68	0.16		-0.53	0.6	0.25	0.51	0.45	0.53	SRI
PLOW	-0.46	0.14	-0.53		0.02	-0.37	-0.25	0.11	-0.06	PLOW
DORM	0.47	0.41	0.6	0.02		0.06	0.47	0.36	0.52	DORM
SUP	0.15	-0.16	0.25	-0.37	0.06		0.14	-0.17	-0.18	SUP
THRM	0.86	0.82	0.51	-0.25	0.47	0.14		0.37	0.86	THRM
VC	0.51	0.53	0.45	0.11	0.36	-0.17	0.37		0.68	VC
CVGI	0.8	0.84	0.53	-0.06	0.52	-0.18	0.86	0.68		CVGI
	MNRO	SMP	SRI	PLOW	DORM	SUP	THRM	VC	CVGI

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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

THRM	+ 0.86	MNRO
CVGI	+ 0.86	THRM
CVGI	+ 0.84	SMP
THRM	+ 0.82	SMP
CVGI	+ 0.8	MNRO
SMP	+ 0.7	MNRO

High negative correlations

PLOW	- 0.53	SRI
PLOW	- 0.46	MNRO
SUP	- 0.37	PLOW
THRM	- 0.25	PLOW
CVGI	- 0.18	SUP
VC	- 0.17	SUP

Risk-Adjusted Indicators

There is a big difference between Motorcar Stock performing well and Motorcar Parts 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 Motorcar Parts' 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
MNRO	1.68	(0.54)	0.00	(0.85)	0.00	0.00	2.69	(4.22)	9.63
SMP	1.19	(0.34)	0.00	(0.62)	0.00	0.00	1.78	(2.79)	7.53
SRI	3.66	(0.13)	0.00	(0.12)	0.00	0.00	6.68	(8.80)	31.78
PLOW	1.22	(0.02)	0.00	(0.10)	0.00	0.00	2.37	(2.91)	9.53
DORM	1.21	(0.08)	0.00	(0.16)	0.00	0.00	2.60	(3.19)	7.99
SUP	3.25	0.34	0.09	0.38	3.80	(4.00)	6.47	(5.83)	28.51
THRM	1.42	(0.43)	0.00	(0.59)	0.00	0.00	2.62	(3.81)	10.49
VC	1.43	(0.16)	0.00	(0.25)	0.00	0.00	2.05	(3.09)	8.41
CVGI	3.01	(0.70)	0.00	(0.51)	0.00	0.00	6.39	(6.85)	22.75

Motorcar Parts Corporate Management

Juliet Stone	General VP	Profile
Jack Vollbrecht	Sr Relations	Profile
Jamie Cook	Senior Marketing	Profile
Richard Mochulsky	Senior Development	Profile
Gary Maier	IR Contact Officer	Profile
Kamlesh Shah	Chief Officer	Profile

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