Marine Products Correlations

MPX Stock

USD 8.20 0.23 2.73%

The current 90-days correlation between Marine Products and MCBC Holdings is 0.34 (i.e., Weak diversification). The correlation of Marine Products 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.

Marine Products Correlation With Market

Weak diversification

The correlation between Marine Products and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Marine Products 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 Marine Products. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

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

Moving together with Marine Stock

0.78	CRI	Carters	Pair Corr
0.69	DHI	DR Horton	Pair Corr
0.73	DTC	Solo Brands	Pair Corr
0.76	KTB	Kontoor Brands	Pair Corr
0.77	LEN	Lennar	Pair Corr
0.73	NVR	NVR Inc	Pair Corr
0.71	OXM	Oxford Industries Earnings Call This Week	Pair Corr
0.71	PHM	PulteGroup	Pair Corr
0.72	SKX	Skechers USA	Pair Corr
0.82	VRA	Vera Bradley	Pair Corr
0.8	WWW	Wolverine World Wide	Pair Corr
0.77	JOUT	Johnson Outdoors	Pair Corr
0.77	ONON	On Holding	Pair Corr
0.73	RCKY	Rocky Brands	Pair Corr
0.77	SHOO	Steven Madden	Pair Corr
0.71	CLAR	Clarus Corp	Pair Corr
0.72	DECK	Deckers Outdoor	Pair Corr
0.74	HD	Home Depot	Pair Corr
0.68	WEYS	Weyco Group	Pair Corr
0.68	AAP	Advance Auto Parts	Pair Corr

Moving against Marine Stock

0.42	HAS	Hasbro Inc	Pair Corr
0.35	MAT	Mattel Inc	Pair Corr
0.69	LNW	Light Wonder	Pair Corr
0.63	YUM	Yum Brands	Pair Corr
0.61	VIPS	Vipshop Holdings	Pair Corr
0.54	AZO	AutoZone	Pair Corr
0.54	GPC	Genuine Parts	Pair Corr
0.52	PDD	PDD Holdings Buyout Trend	Pair Corr
0.51	AGS	PlayAGS	Pair Corr
0.48	MCD	McDonalds	Pair Corr
0.46	JD	JD Inc Adr Aggressive Push	Pair Corr
0.45	EVRI	Everi Holdings	Pair Corr
0.41	LTH	Life Time Group	Pair Corr

Related Correlations Analysis

	THO	DOOO	BC	EZGO	PII	LCII	MCFT	WGO	MBUU
THO		0.49	0.79	0.32	0.32	0.88	0.6	0.74	0.76	THO
DOOO	0.49		0.78	0.7	0.88	0.53	0.47	0.85	0.67	DOOO
BC	0.79	0.78		0.59	0.7	0.83	0.76	0.94	0.95	BC
EZGO	0.32	0.7	0.59		0.84	0.48	0.51	0.75	0.62	EZGO
PII	0.32	0.88	0.7	0.84		0.49	0.45	0.81	0.63	PII
LCII	0.88	0.53	0.83	0.48	0.49		0.68	0.8	0.82	LCII
MCFT	0.6	0.47	0.76	0.51	0.45	0.68		0.71	0.85	MCFT
WGO	0.74	0.85	0.94	0.75	0.81	0.8	0.71		0.91	WGO
MBUU	0.76	0.67	0.95	0.62	0.63	0.82	0.85	0.91		MBUU
	THO	DOOO	BC	EZGO	PII	LCII	MCFT	WGO	MBUU

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Risk-Adjusted Indicators

There is a big difference between Marine Stock performing well and Marine Products 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 Marine Products' 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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
THO	1.91	(0.31)	(0.46)	3.61	(4.17)	18.55
DOOO	1.96	(0.39)	(0.47)	3.12	(4.37)	11.56
BC	1.55	(0.32)	(0.32)	2.70	(3.55)	9.68
EZGO	4.44	(0.74)	(0.67)	7.41	(10.64)	25.24
PII	2.19	(0.61)	1.59	4.62	(4.98)	15.44
LCII	1.58	(0.31)	(0.32)	2.58	(4.00)	10.45
MCFT	1.82	(0.17)	(0.33)	2.89	(4.14)	22.81
WGO	2.23	(0.61)	(0.61)	3.49	(4.39)	10.53
MBUU	2.04	(0.48)	(0.47)	3.93	(4.37)	11.03

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