Douglas Dynamics Correlations

Stocks . USA . 
Stock . Douglas Dynamics
PLOW Stock  USD 23.70  0.33  1.37%   
The current 90-days correlation between Douglas Dynamics and Monro Muffler Brake is 0.36 (i.e., Weak diversification). The correlation of Douglas Dynamics 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.

Douglas Dynamics Correlation With Market

Very weak diversification

The correlation between Douglas Dynamics and DJI is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Douglas Dynamics 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 Douglas Dynamics. 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.
For more information on how to buy Douglas Stock please use our How to Invest in Douglas Dynamics guide.

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Moving against Douglas Stock

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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   
FOXF
+ 0.91
MNRO
LKQ
+ 0.85
MPAA
FOXF
+ 0.78
SRI
SMP
+ 0.7
MNRO
SRI
+ 0.68
MNRO
FOXF
+ 0.66
SMP
  
High negative correlations   
LKQ
- 0.8
MNRO
LKQ
- 0.69
SMP
LKQ
- 0.66
FOXF
SMP
- 0.61
MPAA
MPAA
- 0.55
MNRO
FOXF
- 0.51
MPAA

Risk-Adjusted Indicators

There is a big difference between Douglas Stock performing well and Douglas Dynamics 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 Douglas Dynamics' 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.

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