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

0.62	VSTE	Vast Renewables	Pair Corr
0.63	CNR	Core Natural Resources, Symbol Change	Pair Corr
0.63	FSTR	LB Foster	Pair Corr
0.66	MLR	Miller Industries	Pair Corr
0.73	MPU	Mega Matrix Corp	Pair Corr
0.74	HYLN	Hyliion Holdings Corp	Pair Corr

Moving against NN Stock

0.52	NXT	Nextracker Class A	Pair Corr
0.49	MMM	3M Company	Pair Corr
0.32	ARRY	Array Technologies	Pair Corr

Related Correlations Analysis

	SPLP-PA	CODI-PA	BBU	MATW	TRC	TUSK	GFF	SPLP	CODI	VMI
SPLP-PA		0.05	0.18	-0.76	0.2	-0.69	-0.33	-0.38	-0.82	0.45	SPLP-PA
CODI-PA	0.05		-0.36	0.37	0.25	0.44	0.18	-0.26	-0.27	0.12	CODI-PA
BBU	0.18	-0.36		-0.35	-0.21	-0.26	0.08	0.32	0.12	0.46	BBU
MATW	-0.76	0.37	-0.35		-0.02	0.81	0.55	0.09	0.63	-0.18	MATW
TRC	0.2	0.25	-0.21	-0.02		0.24	0.29	-0.27	-0.32	0.15	TRC
TUSK	-0.69	0.44	-0.26	0.81	0.24		0.73	0.11	0.53	-0.06	TUSK
GFF	-0.33	0.18	0.08	0.55	0.29	0.73		-0.08	0.38	0.33	GFF
SPLP	-0.38	-0.26	0.32	0.09	-0.27	0.11	-0.08		0.43	-0.22	SPLP
CODI	-0.82	-0.27	0.12	0.63	-0.32	0.53	0.38	0.43		-0.26	CODI
VMI	0.45	0.12	0.46	-0.18	0.15	-0.06	0.33	-0.22	-0.26		VMI
	SPLP-PA	CODI-PA	BBU	MATW	TRC	TUSK	GFF	SPLP	CODI	VMI

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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

TUSK	+ 0.81	MATW
GFF	+ 0.73	TUSK
CODI	+ 0.63	MATW
GFF	+ 0.55	MATW
CODI	+ 0.53	TUSK
VMI	+ 0.46	BBU

High negative correlations

CODI	- 0.82	SPLP-PA
MATW	- 0.76	SPLP-PA
TUSK	- 0.69	SPLP-PA
SPLP	- 0.38	SPLP-PA
BBU	- 0.36	CODI-PA
MATW	- 0.35	BBU

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SPLP-PA	0.18	0.02	0.48	5.52	0.17	(0.20)	0.58	(0.33)	1.48
CODI-PA	0.84	0.02	0.09	(0.01)	1.06	(0.90)	2.03	(1.96)	5.64
BBU	1.60	(0.01)	0.00	(0.12)	0.00	0.00	3.24	(3.28)	12.93
MATW	2.07	(0.24)	0.00	(0.34)	0.00	0.00	3.04	(4.33)	24.43
TRC	1.28	0.09	0.08	0.03	1.53	(1.39)	3.10	(2.70)	7.04
TUSK	3.01	(0.28)	0.00	(0.28)	0.00	0.00	6.13	(6.23)	18.93
GFF	1.43	(0.07)	0.00	(0.16)	0.00	0.00	2.22	(3.19)	12.51
SPLP	1.54	(0.06)	0.00	(0.41)	0.00	0.00	2.82	(2.59)	18.57
CODI	1.31	(0.12)	0.00	(0.22)	0.00	0.00	2.10	(2.82)	12.88
VMI	1.52	0.09	0.00	(0.02)	0.00	0.00	2.59	(3.71)	21.38

NN Corporate Management

Gunars Vinkels	Interim Solutions	Profile
David Harrison	Chief Officer	Profile
Douglas Campos	Interim Solutions	Profile
Paul Taylor	VP Relations	Profile
Matthew JD	Gen VP	Profile
Christopher Bohnert	Senior Officer	Profile

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