Preformed Line Correlations

PLPC Stock

USD 133.71 2.06 1.56%

The current 90-days correlation between Preformed Line Products and Kimball Electronics is 0.26 (i.e., Modest diversification). The correlation of Preformed Line 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.

Preformed Line Correlation With Market

Weak diversification

The correlation between Preformed Line Products and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Preformed Line Products 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 Preformed Line Products. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving against Preformed Stock

0.58	FCEL	FuelCell Energy	Pair Corr
0.53	NEOV	NeoVolta Common Stock	Pair Corr
0.5	FREY	FREYR Battery SA Earnings Call This Week	Pair Corr
0.43	XPON	Expion360	Pair Corr
0.42	STI	Solidion Technology	Pair Corr
0.4	NXU	Nxu Inc	Pair Corr
0.36	KE	Kimball Electronics	Pair Corr
0.71	PLUG	Plug Power Earnings Call Tomorrow	Pair Corr
0.58	PITA	Heramba Electric plc	Pair Corr
0.48	PITAW	Heramba Electric plc	Pair Corr
0.36	ATKR	Atkore International	Pair Corr
0.36	SLDP	Solid Power	Pair Corr
0.34	POLA	Polar Power	Pair Corr
0.32	PPSI	Pioneer Power Solutions	Pair Corr
0.31	IPWR	Ideal Power Earnings Call Today	Pair Corr

Related Correlations Analysis

	KE	NVT	ESP	HUBB	ENR	HOLI	AYI	NEOV	AEIS
KE		0.69	0.55	0.79	0.82	0.0	0.06	0.68	0.08	KE
NVT	0.69		0.43	0.91	0.82	0.0	0.25	0.67	0.02	NVT
ESP	0.55	0.43		0.55	0.54	0.0	0.04	0.52	-0.26	ESP
HUBB	0.79	0.91	0.55		0.91	0.0	0.2	0.72	-0.12	HUBB
ENR	0.82	0.82	0.54	0.91		0.0	-0.01	0.79	-0.24	ENR
HOLI	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	HOLI
AYI	0.06	0.25	0.04	0.2	-0.01	0.0		-0.4	0.18	AYI
NEOV	0.68	0.67	0.52	0.72	0.79	0.0	-0.4		-0.2	NEOV
AEIS	0.08	0.02	-0.26	-0.12	-0.24	0.0	0.18	-0.2		AEIS
	KE	NVT	ESP	HUBB	ENR	HOLI	AYI	NEOV	AEIS

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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

HUBB	+ 0.91	NVT
ENR	+ 0.91	HUBB
ENR	+ 0.82	KE
ENR	+ 0.82	NVT
HUBB	+ 0.79	KE
NEOV	+ 0.79	ENR

High negative correlations

NEOV	- 0.4	AYI
AEIS	- 0.26	ESP
AEIS	- 0.24	ENR
AEIS	- 0.2	NEOV
AEIS	- 0.12	HUBB
AYI	- 0.01	ENR

Risk-Adjusted Indicators

There is a big difference between Preformed Stock performing well and Preformed Line 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 Preformed Line'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
KE	1.36	(0.05)	0.00	(0.08)	0.00	0.00	2.21	(3.28)	7.44
NVT	1.66	(0.27)	0.00	(0.33)	0.00	0.00	3.32	(3.98)	20.48
ESP	1.82	(0.18)	0.00	(0.49)	0.00	0.00	3.76	(3.37)	15.86
HUBB	1.29	(0.26)	0.00	(0.33)	0.00	0.00	2.45	(3.34)	11.92
ENR	1.12	(0.11)	0.00	(0.17)	0.00	0.00	2.09	(2.62)	12.36
HOLI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AYI	1.22	(0.08)	0.00	(0.07)	0.00	0.00	2.19	(2.67)	9.89
NEOV	4.48	(0.53)	0.00	(0.81)	0.00	0.00	6.77	(9.11)	29.85
AEIS	1.84	0.18	0.07	0.25	2.42	(1.96)	3.80	(3.40)	14.93

Preformed Line Corporate Management

Dennis McKenna	Executive VP of Global Bus. Devel.	Profile
Tie Koh	Vice Region	Profile
Caroline Vaccariello	General Counsel, Corporate Secretary	Profile
William III	Vice Region	Profile

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