Commercial Vehicle Correlations
| CVGI Stock | USD 6.18 0.03 0.49% |
The correlation of Commercial Vehicle 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Commercial Vehicle moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Commercial Vehicle Group moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Very weak diversification
The correlation between Commercial Vehicle Group and NYA is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Commercial Vehicle Group and NYA in the same portfolio, assuming nothing else is changed.
Commercial |
The ability to find closely correlated positions to Commercial Vehicle could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Commercial Vehicle when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Commercial Vehicle - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Commercial Vehicle Group to buy it.
Moving together with Commercial Stock
Moving against Commercial Stock
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| 0.5 | MMM | 3M Company Financial Report 23rd of July 2024 | PairCorr |
| 0.47 | ELMSQ | Electric Last Mile | PairCorr |
| 0.44 | ALSN | Allison Transmission Downward Rally | PairCorr |
Related Correlations Analysis
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Commercial Stock performing well and Commercial Vehicle 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 Commercial Vehicle'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| MPAA | 2.87 | (0.93) | 0.00 | (0.31) | 0.00 | 4.42 | 26.00 | |||
| MNRO | 1.50 | (0.24) | 0.00 | (0.09) | 0.00 | 2.77 | 10.13 | |||
| SRI | 1.85 | (0.37) | 0.00 | (0.07) | 0.00 | 3.39 | 12.17 | |||
| SUP | 2.93 | 0.37 | 0.13 | 0.30 | 2.76 | 8.23 | 27.73 | |||
| DORM | 1.43 | (0.02) | 0.02 | 0.06 | 1.67 | 2.60 | 19.83 | |||
| SMP | 1.48 | (0.38) | 0.00 | (0.26) | 0.00 | 2.57 | 17.75 | |||
| CPS | 3.01 | (0.21) | (0.01) | 0.01 | 6.01 | 6.32 | 34.07 | |||
| DAN | 1.70 | (0.25) | 0.00 | (0.02) | 0.00 | 3.45 | 11.76 | |||
| LEA | 1.09 | (0.05) | 0.00 | 0.05 | 1.48 | 2.22 | 7.50 | |||
| ALV | 1.10 | 0.17 | 0.15 | 0.19 | 1.05 | 2.84 | 6.51 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Commercial Vehicle without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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Commercial Vehicle Corporate Directors
Commercial Vehicle corporate directors refer to members of a Commercial Vehicle board of directors. The board of directors generally takes responsibility for the Commercial Vehicle's affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of Commercial Vehicle's board members must vote for the resolution. The Commercial Vehicle board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.| Wayne Rancourt | Director | Profile | |
| Harold Bevis | Independent Director | Profile | |
| David Bovee | Independent Director | Profile | |
| Robert Griffin | Independent Director | Profile |
Already Invested in Commercial Vehicle Group?
The danger of trading Commercial Vehicle Group is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Commercial Vehicle is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Commercial Vehicle. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Commercial Vehicle is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether Commercial Vehicle offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Commercial Vehicle's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Commercial Vehicle Group Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Commercial Vehicle Group Stock: Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Commercial Vehicle Group. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in price. Note that the Commercial Vehicle information on this page should be used as a complementary analysis to other Commercial Vehicle's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.
Complementary Tools for Commercial Stock analysis
When running Commercial Vehicle's price analysis, check to measure Commercial Vehicle's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Commercial Vehicle is operating at the current time. Most of Commercial Vehicle's value examination focuses on studying past and present price action to predict the probability of Commercial Vehicle's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Commercial Vehicle's price. Additionally, you may evaluate how the addition of Commercial Vehicle to your portfolios can decrease your overall portfolio volatility.
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Is Commercial Vehicle's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Commercial Vehicle. If investors know Commercial will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Commercial Vehicle listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth 1.011 | Earnings Share 1.47 | Revenue Per Share 30.105 | Quarterly Revenue Growth (0.05) | Return On Assets 0.0647 |
The market value of Commercial Vehicle is measured differently than its book value, which is the value of Commercial that is recorded on the company's balance sheet. Investors also form their own opinion of Commercial Vehicle's value that differs from its market value or its book value, called intrinsic value, which is Commercial Vehicle's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Commercial Vehicle's market value can be influenced by many factors that don't directly affect Commercial Vehicle's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Commercial Vehicle's value and its price as these two are different measures arrived at by different means. Investors typically determine if Commercial Vehicle is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Commercial Vehicle's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.