Magna International Related Correlations

MGA Stock  USD 54.48  0.06  0.11%   
Generate correlation matrix for Magna International and other related equities to check the degree to which Magna International price movement is correlated to its related entities. Use comma (,) to separate each symbol. If not specified, the peers will be provided automatically based on Macroaxis sector classification standards for Magna International. To filter out specific equities, please toggle its corresponding legend item. Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Magna International. 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.
For information on how to trade Magna Stock refer to our How to Trade Magna Stock guide.
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Is Magna International'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 Magna International. If investors know Magna 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 Magna International 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
1.882
Dividend Share
1.855
Earnings Share
4.23
Revenue Per Share
149.535
Quarterly Revenue Growth
0.093
The market value of Magna International is measured differently than its book value, which is the value of Magna that is recorded on the company's balance sheet. Investors also form their own opinion of Magna International's value that differs from its market value or its book value, called intrinsic value, which is Magna International'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 Magna International's market value can be influenced by many factors that don't directly affect Magna International'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 Magna International's value and its price as these two are different measures arrived at by different means. Investors typically determine if Magna International is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Magna International'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.

Correlations

MBLY
QS
ECXWW
MNRO
WKSP
WPRT
MBLY
0.180.61-0.460.120.65
MBLY
QS
0.180.17-0.310.680.01
QS
ECXWW
0.610.17-0.120.170.56
ECXWW
MNRO
-0.46-0.31-0.120.03-0.23
MNRO
WKSP
0.120.680.170.03-0.13
WKSP
WPRT
0.650.010.56-0.23-0.13
WPRT
MBLY
QS
ECXWW
MNRO
WKSP
WPRT
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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   
WKSPQS
WPRTMBLY
ECXWWMBLY
WPRTECXWW
QSMBLY
ECXWWQS
  
High negative correlations   
MNROMBLY
MNROQS
WPRTMNRO
WPRTWKSP
MNROECXWW

Risk-Adjusted Indicators

There is a big difference between Magna Stock performing well and Magna International 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 Magna International'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.