Shyft Correlations

SHYF Stock

USD 9.39 0.06 0.63%

The current 90-days correlation between Shyft Group and Astec Industries is 0.4 (i.e., Very weak diversification). The correlation of Shyft 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.

Shyft Correlation With Market

Average diversification

The correlation between Shyft Group and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Shyft Group 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 Shyft Group. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

Moving together with Shyft Stock

0.9	HY	Hyster Yale Materials	Pair Corr
0.63	TEX	Terex	Pair Corr
0.85	HYFM	Hydrofarm Holdings	Pair Corr
0.8	REVG	Rev Group	Pair Corr
0.67	CMCO	Columbus McKinnon	Pair Corr
0.69	J	Jacobs Solutions	Pair Corr
0.7	BA	Boeing Buyout Trend	Pair Corr
0.7	BW	Babcock Wilcox Enter	Pair Corr
0.88	DY	Dycom Industries	Pair Corr
0.71	FA	First Advantage Corp	Pair Corr

Moving against Shyft Stock

0.51	CEADW	CEA Industries Warrant	Pair Corr
0.43	ASTE	Astec Industries	Pair Corr
0.59	BZ	Kanzhun Ltd ADR	Pair Corr
0.69	SB	Safe Bulkers	Pair Corr
0.55	PC	Premium Catering	Pair Corr

Related Correlations Analysis

	ASTE	HY	MNTX	REVG	LNN	CMCO	AGCO	TWI	MTW
ASTE		-0.42	0.0	-0.13	0.21	-0.33	0.12	0.17	0.0	ASTE
HY	-0.42		0.0	0.74	0.28	0.56	0.47	0.06	0.2	HY
MNTX	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	MNTX
REVG	-0.13	0.74	0.0		0.19	0.68	0.52	-0.03	-0.05	REVG
LNN	0.21	0.28	0.0	0.19		-0.27	0.81	0.77	0.75	LNN
CMCO	-0.33	0.56	0.0	0.68	-0.27		0.14	-0.52	-0.52	CMCO
AGCO	0.12	0.47	0.0	0.52	0.81	0.14		0.6	0.51	AGCO
TWI	0.17	0.06	0.0	-0.03	0.77	-0.52	0.6		0.81	TWI
MTW	0.0	0.2	0.0	-0.05	0.75	-0.52	0.51	0.81		MTW
	ASTE	HY	MNTX	REVG	LNN	CMCO	AGCO	TWI	MTW

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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

AGCO	+ 0.81	LNN
MTW	+ 0.81	TWI
TWI	+ 0.77	LNN
MTW	+ 0.75	LNN
REVG	+ 0.74	HY
CMCO	+ 0.68	REVG

High negative correlations

MTW	- 0.52	CMCO
TWI	- 0.52	CMCO
HY	- 0.42	ASTE
CMCO	- 0.33	ASTE
CMCO	- 0.27	LNN
REVG	- 0.13	ASTE

Risk-Adjusted Indicators

There is a big difference between Shyft Stock performing well and Shyft 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 Shyft'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
ASTE	1.76	0.21	0.13	0.95	1.90	(1.95)	3.65	(2.59)	16.43
HY	1.55	(0.15)	0.00	0.23	0.00	0.00	2.75	(2.73)	15.44
MNTX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
REVG	2.04	0.04	0.04	2.01	2.68	(2.09)	3.56	(3.55)	14.34
LNN	1.20	0.05	0.00	(0.02)	0.00	0.00	2.90	(2.27)	6.31
CMCO	2.55	(0.99)	0.00	1.02	0.00	0.00	3.59	(5.25)	44.77
AGCO	1.90	0.03	0.00	(0.03)	0.00	0.00	4.48	(3.80)	13.24
TWI	2.56	0.27	0.06	0.07	3.25	(2.87)	6.72	(5.21)	16.08
MTW	2.22	0.12	0.02	0.00	2.95	(2.37)	5.24	(5.05)	19.98

Shyft Corporate Management

Scott Ocholik	Chief VP	Profile
Samara Hamilton	VP Communications	Profile
Juris Pagrabs	Director Treasurer	Profile
Joshua Sherbin	Chief Secretary	Profile
Thomas Kivell	Consultant	Profile
Carrie Wright	Chief Officer	Profile
Todd Heavin	Chief Officer	Profile

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