Park Ohio Correlations

PKOH Stock

USD 22.00 0.43 1.92%

The current 90-days correlation between Park Ohio Holdings and China Yuchai International is -0.22 (i.e., Very good diversification). The correlation of Park Ohio 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.

Park Ohio Correlation With Market

Very weak diversification

The correlation between Park Ohio Holdings and DJI is 0.55 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Park Ohio Holdings 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 Park Ohio Holdings. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving together with Park Stock

0.79	BW	Babcock Wilcox Enter	Pair Corr
0.86	IR	Ingersoll Rand	Pair Corr
0.64	ENOV	Enovis Corp	Pair Corr
0.68	ATS	ATS Corporation	Pair Corr
0.64	CVV	CVD Equipment Earnings Call This Week	Pair Corr
0.78	EMR	Emerson Electric	Pair Corr
0.64	ETN	Eaton PLC	Pair Corr
0.67	FLS	Flowserve	Pair Corr
0.66	GHM	Graham	Pair Corr
0.61	GRC	Gorman Rupp	Pair Corr
0.68	IEX	IDEX	Pair Corr
0.71	ITT	ITT Inc	Pair Corr
0.79	MIR	Mirion Technologies	Pair Corr
0.72	XMTR	Xometry	Pair Corr
0.83	PNR	Pentair PLC	Pair Corr
0.69	ROK	Rockwell Automation	Pair Corr
0.74	RRX	Regal Beloit	Pair Corr
0.83	SXI	Standex International	Pair Corr

Moving against Park Stock

0.75	CYD	China Yuchai Interna	Pair Corr
0.46	GE	GE Aerospace	Pair Corr
0.39	MWA	Mueller Water Products	Pair Corr
0.69	IVAC	Intevac	Pair Corr

Related Correlations Analysis

	HURC	EPAC	CYD	LXFR	OFLX	GRC	KAI	TNC	FELE	CIR
HURC		0.27	-0.62	0.86	0.01	0.18	0.49	0.38	0.14	0.0	HURC
EPAC	0.27		0.16	0.44	-0.2	0.67	0.64	0.68	0.88	0.0	EPAC
CYD	-0.62	0.16		-0.47	-0.59	-0.08	0.11	0.28	0.37	0.0	CYD
LXFR	0.86	0.44	-0.47		0.07	0.39	0.58	0.58	0.4	0.0	LXFR
OFLX	0.01	-0.2	-0.59	0.07		0.22	-0.37	-0.41	-0.27	0.0	OFLX
GRC	0.18	0.67	-0.08	0.39	0.22		0.43	0.24	0.71	0.0	GRC
KAI	0.49	0.64	0.11	0.58	-0.37	0.43		0.72	0.67	0.0	KAI
TNC	0.38	0.68	0.28	0.58	-0.41	0.24	0.72		0.69	0.0	TNC
FELE	0.14	0.88	0.37	0.4	-0.27	0.71	0.67	0.69		0.0	FELE
CIR	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		CIR
	HURC	EPAC	CYD	LXFR	OFLX	GRC	KAI	TNC	FELE	CIR

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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	+ 0.88	EPAC
LXFR	+ 0.86	HURC
TNC	+ 0.72	KAI
FELE	+ 0.71	GRC
FELE	+ 0.69	TNC
TNC	+ 0.68	EPAC

High negative correlations

CYD	- 0.62	HURC
OFLX	- 0.59	CYD
LXFR	- 0.47	CYD
TNC	- 0.41	OFLX
KAI	- 0.37	OFLX
FELE	- 0.27	OFLX

Risk-Adjusted Indicators

There is a big difference between Park Stock performing well and Park Ohio 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 Park Ohio'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
HURC	2.35	(0.22)	0.00	(0.73)	0.00	0.00	4.14	(4.30)	23.02
EPAC	1.35	(0.15)	0.00	(0.23)	0.00	0.00	2.21	(2.97)	6.65
CYD	5.25	1.34	0.24	(75.54)	4.87	(6.25)	15.80	(10.50)	36.75
LXFR	1.73	(0.15)	0.00	(0.23)	0.00	0.00	2.60	(4.10)	11.40
OFLX	1.77	(0.18)	0.00	(0.53)	0.00	0.00	3.01	(3.59)	9.64
GRC	1.28	(0.15)	0.00	(0.25)	0.00	0.00	2.20	(2.53)	6.72
KAI	1.47	(0.06)	0.00	(0.12)	0.00	0.00	2.63	(3.27)	13.30
TNC	1.27	0.03	0.00	(0.03)	0.00	0.00	2.35	(3.02)	7.66
FELE	1.06	(0.08)	0.00	(0.17)	0.00	0.00	2.00	(2.17)	8.22
CIR	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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