Smith Midland Correlations

SMID Stock

USD 49.10 0.70 1.45%

The current 90-days correlation between Smith Midland Corp and Cementos Pacasmayo SAA is -0.16 (i.e., Good diversification). The correlation of Smith Midland 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.

Smith Midland Correlation With Market

Modest diversification

The correlation between Smith Midland Corp and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Smith Midland Corp 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 Smith Midland Corp. 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.

Moving together with Smith Stock

0.77	CRH	CRH PLC ADR	Pair Corr
0.66	KNF	Knife River	Pair Corr
0.71	SUM	Summit Materials Sell-off Trend	Pair Corr
0.7	VMC	Vulcan Materials	Pair Corr
0.83	LOMA	Loma Negra Compania	Pair Corr
0.64	TGLS	Tecnoglass	Pair Corr
0.79	USLM	United States Lime	Pair Corr
0.66	CC	Chemours	Pair Corr
0.65	NC	NACCO Industries	Pair Corr
0.75	OC	Owens Corning	Pair Corr
0.75	RS	Reliance Steel Aluminum	Pair Corr
0.61	TT	Trane Technologies plc	Pair Corr

Moving against Smith Stock

0.62	RETO	ReTo Eco Solutions	Pair Corr
0.4	YECO	Yulong Eco Materials	Pair Corr
0.77	CE	Celanese	Pair Corr
0.73	NB	NioCorp Developments	Pair Corr
0.63	FF	FutureFuel Corp	Pair Corr
0.58	AU	AngloGold Ashanti plc	Pair Corr
0.46	HL	Hecla Mining	Pair Corr
0.8	DNMR	Danimer Scientific	Pair Corr
0.63	SA	Seabridge Gold	Pair Corr
0.56	HYMCL	Hycroft Mining Holding	Pair Corr
0.53	ELBM	Electra Battery Materials	Pair Corr

Related Correlations Analysis

	USLM	HCMLF	HCMLY	CPAC	EXP	JHX	VMC	MCEM	SUM	LOMA
USLM		0.7	0.84	0.59	0.83	-0.36	0.95	0.92	0.93	0.96	USLM
HCMLF	0.7		0.6	0.33	0.62	0.03	0.65	0.71	0.64	0.76	HCMLF
HCMLY	0.84	0.6		0.61	0.81	-0.33	0.88	0.67	0.83	0.83	HCMLY
CPAC	0.59	0.33	0.61		0.5	-0.69	0.68	0.5	0.68	0.57	CPAC
EXP	0.83	0.62	0.81	0.5		-0.24	0.81	0.72	0.73	0.8	EXP
JHX	-0.36	0.03	-0.33	-0.69	-0.24		-0.48	-0.26	-0.55	-0.3	JHX
VMC	0.95	0.65	0.88	0.68	0.81	-0.48		0.84	0.97	0.9	VMC
MCEM	0.92	0.71	0.67	0.5	0.72	-0.26	0.84		0.83	0.87	MCEM
SUM	0.93	0.64	0.83	0.68	0.73	-0.55	0.97	0.83		0.89	SUM
LOMA	0.96	0.76	0.83	0.57	0.8	-0.3	0.9	0.87	0.89		LOMA
	USLM	HCMLF	HCMLY	CPAC	EXP	JHX	VMC	MCEM	SUM	LOMA

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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

SUM	+ 0.97	VMC
LOMA	+ 0.96	USLM
VMC	+ 0.95	USLM
SUM	+ 0.93	USLM
MCEM	+ 0.92	USLM
LOMA	+ 0.9	VMC

High negative correlations

JHX	- 0.69	CPAC
SUM	- 0.55	JHX
VMC	- 0.48	JHX
JHX	- 0.36	USLM
JHX	- 0.33	HCMLY
LOMA	- 0.3	JHX

Risk-Adjusted Indicators

There is a big difference between Smith Stock performing well and Smith Midland 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 Smith Midland'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
USLM	2.10	0.76	0.41	0.45	1.30	(2.46)	6.93	(3.18)	16.29
HCMLF	0.64	0.05	(0.03)	0.58	0.82	(1.99)	1.60	(2.69)	9.04
HCMLY	0.87	0.02	(0.03)	0.17	0.97	(0.92)	1.77	(1.71)	6.48
CPAC	1.20	0.12	(0.04)	(0.05)	2.13	(1.24)	2.85	(2.80)	14.21
EXP	1.30	0.13	0.12	0.21	1.28	(1.44)	2.94	(1.90)	7.85
JHX	1.77	(0.08)	(0.04)	0.04	2.11	(2.13)	4.32	(3.51)	16.43
VMC	1.11	0.15	0.15	0.25	0.86	(1.32)	2.34	(1.75)	8.27
MCEM	1.35	0.20	0.08	0.47	1.51	(1.62)	4.68	(2.26)	14.48
SUM	1.65	0.22	0.14	0.27	1.66	(1.90)	4.18	(2.49)	9.88
LOMA	1.92	0.84	0.34	5.25	1.44	(2.34)	5.79	(3.10)	12.34

Smith Midland Corporate Executives

Elected by the shareholders, the Smith Midland's board of directors comprises two types of representatives: Smith Midland inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Smith. The board's role is to monitor Smith Midland's management team and ensure that shareholders' interests are well served. Smith Midland's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Smith Midland's outside directors are responsible for providing unbiased perspectives on the board's policies.

	Adam Krick	Treasurer, CFO	Profile
	Stephanie Poe	Treasur CFO	Profile

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