Omega Flex Correlations

OFLX Stock

USD 39.67 1.37 3.34%

The current 90-days correlation between Omega Flex and Luxfer Holdings PLC is 0.34 (i.e., Weak diversification). The correlation of Omega Flex 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.

Omega Flex Correlation With Market

Modest diversification

The correlation between Omega Flex and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Omega Flex and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Omega Flex. 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 economic analysis.

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

Moving together with Omega Stock

0.7	BW	Babcock Wilcox Enter	Pair Corr
0.73	IR	Ingersoll Rand	Pair Corr
0.74	AOS	Smith AO Sell-off Trend	Pair Corr
0.71	ETN	Eaton PLC	Pair Corr
0.64	IEX	IDEX	Pair Corr
0.61	MIR	Mirion Technologies	Pair Corr
0.62	PNR	Pentair PLC	Pair Corr
0.66	RRX	Regal Beloit	Pair Corr

Moving against Omega Stock

0.59	XYL	Xylem Inc	Pair Corr
0.37	MWA	Mueller Water Products	Pair Corr
0.34	TNC	Tennant Company	Pair Corr

Related Correlations Analysis

	HLIO	NPO	LXFR	HURC	EPAC	GRC	GHM	KAI	TNC	FELE
HLIO		0.05	0.41	0.4	0.21	0.53	0.8	0.05	-0.22	0.09	HLIO
NPO	0.05		0.68	0.45	0.76	0.56	-0.12	0.71	0.74	0.81	NPO
LXFR	0.41	0.68		0.84	0.44	0.34	0.45	0.54	0.6	0.39	LXFR
HURC	0.4	0.45	0.84		0.23	0.09	0.56	0.41	0.4	0.1	HURC
EPAC	0.21	0.76	0.44	0.23		0.73	-0.12	0.67	0.63	0.9	EPAC
GRC	0.53	0.56	0.34	0.09	0.73		0.12	0.46	0.2	0.77	GRC
GHM	0.8	-0.12	0.45	0.56	-0.12	0.12		-0.04	-0.18	-0.26	GHM
KAI	0.05	0.71	0.54	0.41	0.67	0.46	-0.04		0.73	0.7	KAI
TNC	-0.22	0.74	0.6	0.4	0.63	0.2	-0.18	0.73		0.63	TNC
FELE	0.09	0.81	0.39	0.1	0.9	0.77	-0.26	0.7	0.63		FELE
	HLIO	NPO	LXFR	HURC	EPAC	GRC	GHM	KAI	TNC	FELE

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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

FELE	+ 0.9	EPAC
HURC	+ 0.84	LXFR
FELE	+ 0.81	NPO
GHM	+ 0.8	HLIO
FELE	+ 0.77	GRC
EPAC	+ 0.76	NPO

High negative correlations

FELE	- 0.26	GHM
TNC	- 0.22	HLIO
TNC	- 0.18	GHM
GHM	- 0.12	EPAC
GHM	- 0.12	NPO
KAI	- 0.04	GHM

Risk-Adjusted Indicators

There is a big difference between Omega Stock performing well and Omega Flex 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 Omega Flex'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
HLIO	1.52	(0.47)	(0.51)	3.46	(4.00)	11.98
NPO	1.54	(0.02)	(0.12)	2.15	(3.38)	10.90
LXFR	1.69	(0.14)	(0.25)	2.60	(4.10)	11.40
HURC	2.39	(0.30)	(0.99)	4.14	(4.30)	23.02
EPAC	1.34	(0.07)	(0.18)	2.21	(2.97)	6.65
GRC	1.23	(0.09)	(0.21)	2.20	(2.48)	6.72
GHM	2.74	(0.28)	(0.23)	6.01	(6.47)	23.34
KAI	1.54	(0.09)	(0.17)	2.63	(3.39)	13.30
TNC	1.23	0.07	(0.02)	2.35	(2.58)	7.66
FELE	1.03	(0.04)	(0.15)	2.00	(1.71)	8.22

Omega Flex Corporate Management

Steven Treichel	Sr. VP of Corporate Devel. and Facilities Management	Profile
Susan Asch	General VP	Profile
Timothy Scanlan	General Counsel and Secretary	Profile
Luke Hawk	Financial Controller	Profile

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