Shimmick Common Correlations

SHIM Stock

1.76 0.09 5.39%

The current 90-days correlation between Shimmick Common and Chemours Co is 0.2 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Shimmick Common moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Shimmick Common moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Shimmick Common Correlation With Market

Weak diversification

The correlation between Shimmick Common and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Shimmick Common and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Shimmick Common. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

To learn how to invest in Shimmick Stock, please use our How to Invest in Shimmick Common guide.

Moving together with Shimmick Stock

0.86	J	Jacobs Solutions	Pair Corr
0.74	DY	Dycom Industries	Pair Corr
0.7	ESOA	Energy Services	Pair Corr
0.8	EXPO	Exponent	Pair Corr
0.8	ACA	Arcosa Inc	Pair Corr
0.88	ACM	Aecom Technology	Pair Corr
0.66	AGX	Argan Inc	Pair Corr
0.83	EME	EMCOR Group	Pair Corr
0.64	FGL	Founder Group Limited	Pair Corr
0.81	FIX	Comfort Systems USA	Pair Corr
0.88	FLR	Fluor Sell-off Trend	Pair Corr
0.89	GVA	Granite Construction Sell-off Trend	Pair Corr
0.82	KBR	KBR Inc	Pair Corr
0.74	LMB	Limbach Holdings	Pair Corr
0.73	MTZ	MasTec Inc	Pair Corr
0.73	ORN	Orion Group Holdings	Pair Corr
0.87	PWR	Quanta Services	Pair Corr
0.68	SKK	PROSHARES ULTRASHORT	Pair Corr
0.87	GLDD	Great Lakes Dredge	Pair Corr
0.68	IESC	IES Holdings	Pair Corr
0.88	MYRG	MYR Group	Pair Corr
0.85	PGHL	Primega Group Holdings	Pair Corr
0.83	PRIM	Primoris Services	Pair Corr
0.66	RITR	Reitar Logtech Holdings	Pair Corr
0.86	ROAD	Construction Partners	Pair Corr
0.71	AGFY	Agrify Corp	Pair Corr
0.88	AMRC	Ameresco Trending	Pair Corr

Moving against Shimmick Stock

0.57	JUNE	Junee Limited Ordinary Trending	Pair Corr
0.42	STN	Stantec	Pair Corr

Related Correlations Analysis

	CC	PKE	UBER	MOS	STRM	CDNS	AVNT
CC		0.87	-0.4	0.52	0.69	0.89	0.41	CC
PKE	0.87		-0.48	0.44	0.66	0.85	0.47	PKE
UBER	-0.4	-0.48		0.17	-0.18	-0.55	0.04	UBER
MOS	0.52	0.44	0.17		0.44	0.28	0.32	MOS
STRM	0.69	0.66	-0.18	0.44		0.6	0.17	STRM
CDNS	0.89	0.85	-0.55	0.28	0.6		0.23	CDNS
AVNT	0.41	0.47	0.04	0.32	0.17	0.23		AVNT
	CC	PKE	UBER	MOS	STRM	CDNS	AVNT

Click cells to compare fundamentals

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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

CDNS	+ 0.89	CC
PKE	+ 0.87	CC
CDNS	+ 0.85	PKE
STRM	+ 0.69	CC
STRM	+ 0.66	PKE
CDNS	+ 0.6	STRM

High negative correlations

CDNS	- 0.55	UBER
UBER	- 0.48	PKE
UBER	- 0.4	CC
STRM	- 0.18	UBER

Risk-Adjusted Indicators

There is a big difference between Shimmick Stock performing well and Shimmick Common 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 Shimmick Common'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
CC	2.24	(0.26)	0.00	(0.25)	0.00	0.00	4.21	(5.02)	18.10
PKE	1.32	(0.05)	0.00	(0.13)	0.00	0.00	2.27	(2.98)	7.97
UBER	1.89	0.35	0.16	0.60	2.15	(2.04)	4.72	(3.13)	12.75
MOS	1.85	0.19	0.09	0.15	2.08	(2.04)	3.59	(3.58)	12.77
STRM	3.28	0.00	0.00	(0.08)	0.00	0.00	7.62	(6.88)	26.35
CDNS	1.69	(0.18)	0.00	(0.27)	0.00	0.00	2.72	(3.80)	12.93
AVNT	1.46	(0.19)	0.00	(0.24)	0.00	0.00	2.89	(2.40)	8.24

Shimmick Common Corporate Management

Steven Richards	Chief Officer	Profile
Devin Nordhagen	Executive Officer	Profile
John Carpenter	Executive Counsel	Profile
Anthony Rasmus	Investor Officer	Profile

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