Smith Wesson Correlations

SWBI Stock

USD 9.51 0.01 0.11%

The current 90-days correlation between Smith Wesson Brands and Park Electrochemical is 0.29 (i.e., Modest diversification). The correlation of Smith Wesson 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 Wesson Correlation With Market

Average diversification

The correlation between Smith Wesson Brands and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Smith Wesson Brands 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 Wesson Brands. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

Moving together with Smith Stock

0.76	RL	Ralph Lauren Corp	Pair Corr
0.8	GIL	Gildan Activewear	Pair Corr
0.64	SKY	Skyline	Pair Corr
0.73	ZGN	Ermenegildo Zegna Earnings Call This Week	Pair Corr

Moving against Smith Stock

0.61	GV	Visionary Education	Pair Corr
0.4	F	Ford Motor	Pair Corr
0.37	IH	Ihuman Inc	Pair Corr

Related Correlations Analysis

	POWW	PKE	POWWP	NPK	RGR	LHX	AVAV	AJRD	MRCY	TXT
POWW		-0.03	0.71	0.45	0.18	-0.45	0.23	0.0	0.56	-0.45	POWW
PKE	-0.03		-0.16	0.33	-0.7	0.3	0.8	0.0	-0.32	0.7	PKE
POWWP	0.71	-0.16		0.07	0.5	-0.15	-0.1	0.0	0.5	-0.43	POWWP
NPK	0.45	0.33	0.07		-0.28	-0.44	0.58	0.0	0.03	0.0	NPK
RGR	0.18	-0.7	0.5	-0.28		-0.05	-0.76	0.0	0.32	-0.52	RGR
LHX	-0.45	0.3	-0.15	-0.44	-0.05		0.04	0.0	-0.35	0.75	LHX
AVAV	0.23	0.8	-0.1	0.58	-0.76	0.04		0.0	-0.19	0.48	AVAV
AJRD	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	AJRD
MRCY	0.56	-0.32	0.5	0.03	0.32	-0.35	-0.19	0.0		-0.54	MRCY
TXT	-0.45	0.7	-0.43	0.0	-0.52	0.75	0.48	0.0	-0.54		TXT
	POWW	PKE	POWWP	NPK	RGR	LHX	AVAV	AJRD	MRCY	TXT

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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

AVAV	+ 0.8	PKE
TXT	+ 0.75	LHX
POWWP	+ 0.71	POWW
TXT	+ 0.7	PKE
AVAV	+ 0.58	NPK
MRCY	+ 0.56	POWW

High negative correlations

AVAV	- 0.76	RGR
RGR	- 0.7	PKE
TXT	- 0.54	MRCY
TXT	- 0.52	RGR
TXT	- 0.45	POWW
LHX	- 0.45	POWW

Risk-Adjusted Indicators

There is a big difference between Smith Stock performing well and Smith Wesson 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 Wesson'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
POWW	2.84	0.61	0.19	0.54	2.79	(3.58)	8.16	(4.35)	19.50
PKE	1.33	(0.04)	0.00	(0.12)	0.00	0.00	2.27	(2.98)	7.97
POWWP	2.07	0.18	0.07	1.08	2.92	(2.25)	5.01	(4.83)	20.61
NPK	1.15	0.01	0.00	(0.06)	0.00	0.00	1.78	(2.41)	9.22
RGR	1.09	0.13	0.20	(3.19)	0.86	(1.38)	2.06	(1.53)	14.08
LHX	1.06	(0.08)	0.00	(0.34)	0.00	0.00	2.06	(2.53)	6.75
AVAV	2.10	(0.25)	0.00	(0.35)	0.00	0.00	4.75	(4.67)	14.65
AJRD	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MRCY	1.96	0.39	0.16	0.27	1.99	(2.20)	3.62	(3.77)	23.60
TXT	1.06	(0.10)	0.00	(0.20)	0.00	0.00	2.07	(2.51)	7.75

Smith Wesson Corporate Management

Kevin Maxwell	General VP	Profile
John Dineen	Chief Officer	Profile
Elizabeth Sharp	VP Relations	Profile
Deana McPherson	CFO, VP	Profile
Susan Cupero	Vice Sales	Profile

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