NN Correlations

NNBR Stock  USD 2.59  0.08  3.19%   
The current 90-days correlation between NN Inc and Mammoth Energy Services is 0.34 (i.e., Weak diversification). The correlation of NN 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.

NN Correlation With Market

Very weak diversification

The correlation between NN Inc and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NN Inc 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 NN Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

Moving together with NN Stock

  0.62VSTE Vast RenewablesPairCorr
  0.63CNR Core Natural Resources, Symbol ChangePairCorr
  0.63FSTR LB FosterPairCorr
  0.66MLR Miller IndustriesPairCorr
  0.73MPU Mega Matrix CorpPairCorr
  0.74HYLN Hyliion Holdings CorpPairCorr

Moving against NN Stock

  0.52NXT Nextracker Class APairCorr
  0.49MMM 3M CompanyPairCorr
  0.32ARRY Array TechnologiesPairCorr

Related Correlations Analysis

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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   
TUSKMATW
GFFTUSK
CODIMATW
GFFMATW
CODITUSK
VMIBBU
  
High negative correlations   
CODISPLP-PA
MATWSPLP-PA
TUSKSPLP-PA
SPLPSPLP-PA
BBUCODI-PA
MATWBBU

Risk-Adjusted Indicators

There is a big difference between NN Stock performing well and NN 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 NN'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
SPLP-PA  0.18  0.02  0.48  5.52  0.17 
 0.58 
 1.48 
CODI-PA  0.84  0.02  0.09 (0.01) 1.06 
 2.03 
 5.64 
BBU  1.60 (0.01) 0.00 (0.12) 0.00 
 3.24 
 12.93 
MATW  2.07 (0.24) 0.00 (0.34) 0.00 
 3.04 
 24.43 
TRC  1.28  0.09  0.08  0.03  1.53 
 3.10 
 7.04 
TUSK  3.01 (0.28) 0.00 (0.28) 0.00 
 6.13 
 18.93 
GFF  1.43 (0.07) 0.00 (0.16) 0.00 
 2.22 
 12.51 
SPLP  1.54 (0.06) 0.00 (0.41) 0.00 
 2.82 
 18.57 
CODI  1.31 (0.12) 0.00 (0.22) 0.00 
 2.10 
 12.88 
VMI  1.52  0.09  0.00 (0.02) 0.00 
 2.59 
 21.38 

NN Corporate Management