RBC Bearings Correlations
| RBC Stock | USD 333.41 1.70 0.51% |
The current 90-days correlation between RBC Bearings and Lincoln Electric Holdings is 0.3 (i.e., Weak diversification). The correlation of RBC Bearings 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.
RBC Bearings Correlation With Market
Weak diversification
The correlation between RBC Bearings Incorporated and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding RBC Bearings Incorporated and DJI in the same portfolio, assuming nothing else is changed.
RBC |
Moving together with RBC Stock
| 0.81 | TKR | Timken Company | PairCorr |
| 0.66 | LECO | Lincoln Electric Holdings | PairCorr |
| 0.91 | G | Genpact Limited | PairCorr |
| 0.78 | BR | Broadridge Financial | PairCorr |
| 0.63 | CR | Crane Company | PairCorr |
| 0.78 | DE | Deere Company | PairCorr |
| 0.73 | EH | Ehang Holdings | PairCorr |
| 0.83 | GE | GE Aerospace | PairCorr |
| 0.86 | KC | Kingsoft Cloud Holdings | PairCorr |
| 0.77 | LZ | LegalZoom | PairCorr |
| 0.64 | MG | Mistras Group | PairCorr |
Moving against RBC Stock
| 0.67 | KMT | Kennametal | PairCorr |
| 0.58 | BW | Babcock Wilcox Enter | PairCorr |
| 0.57 | CVR | Chicago Rivet Machine Earnings Call Today | PairCorr |
| 0.56 | BV | BrightView Holdings | PairCorr |
| 0.4 | J | Jacobs Solutions | PairCorr |
| 0.65 | NL | NL Industries | PairCorr |
| 0.65 | NX | Quanex Building Products | PairCorr |
| 0.54 | CW | Curtiss Wright | PairCorr |
| 0.54 | GD | General Dynamics | PairCorr |
| 0.48 | OP | Oceanpal | PairCorr |
| 0.45 | GP | GreenPower Motor | PairCorr |
| 0.32 | IR | Ingersoll Rand | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between RBC Stock performing well and RBC Bearings 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 RBC Bearings' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| LECO | 1.25 | (0.01) | (0.01) | 0.00 | 1.63 | 2.91 | 13.78 | |||
| KMT | 1.27 | (0.25) | 0.00 | (0.40) | 0.00 | 1.85 | 7.36 | |||
| TTC | 1.40 | (0.21) | 0.00 | 1.01 | 0.00 | 2.85 | 8.48 | |||
| SNA | 0.96 | (0.05) | 0.00 | (0.05) | 0.00 | 2.01 | 6.57 | |||
| TKR | 1.30 | 0.04 | 0.02 | 0.04 | 1.78 | 3.10 | 7.96 | |||
| SCX | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| RBCP | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| EML | 1.73 | (0.25) | 0.00 | (0.22) | 0.00 | 4.13 | 9.74 | |||
| HLMN | 1.48 | (0.25) | 0.00 | (0.23) | 0.00 | 2.80 | 7.61 | |||
| SWK | 1.51 | 0.01 | 0.00 | (0.02) | 1.81 | 2.79 | 8.98 |