Espey Mfg Correlations

ESP Stock

USD 42.49 1.09 2.63%

The current 90-days correlation between Espey Mfg Electronics and Ultralife is -0.1 (i.e., Good diversification). The correlation of Espey Mfg 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Espey Mfg Correlation With Market

Significant diversification

The correlation between Espey Mfg Electronics and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Espey Mfg Electronics and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Espey Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Espey Mfg Electronics. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in real.

Moving together with Espey Stock

0.63

300548

Broadex Technologies

Pair Corr

Moving against Espey Stock

0.79	002249	Zhongshan Broad Ocean	Pair Corr
0.63	GRID	Tantalus Systems Holding	Pair Corr
0.6	002121	Shenzhen Clou Electronics	Pair Corr
0.58	HMM-A	Hammond Manufacturing	Pair Corr
0.58	300207	Sunwoda Electronic	Pair Corr
0.66	300842	Wuxi Dk Electronic	Pair Corr
0.53	SHG	Shinhan Financial	Pair Corr
0.48	688063	Pylon Technologies	Pair Corr
0.38	CBAT	CBAK Energy Technology	Pair Corr
0.34	603045	Fuda Alloy Materials	Pair Corr
0.31	BKRKF	PT Bank Rakyat	Pair Corr

Related Correlations Analysis

	ULBI	MATH	SNT	OPXS	IRS	MVST	GIFI	OPTT	EML	HURC
ULBI		0.46	0.53	0.06	-0.77	0.38	-0.91	0.78	0.73	0.78	ULBI
MATH	0.46		0.3	-0.5	-0.64	-0.19	-0.62	0.69	0.72	0.55	MATH
SNT	0.53	0.3		0.18	-0.53	0.41	-0.56	0.45	0.31	0.75	SNT
OPXS	0.06	-0.5	0.18		0.11	0.82	0.05	-0.09	-0.53	0.03	OPXS
IRS	-0.77	-0.64	-0.53	0.11		-0.32	0.85	-0.82	-0.71	-0.83	IRS
MVST	0.38	-0.19	0.41	0.82	-0.32		-0.32	0.3	-0.21	0.38	MVST
GIFI	-0.91	-0.62	-0.56	0.05	0.85	-0.32		-0.81	-0.79	-0.83	GIFI
OPTT	0.78	0.69	0.45	-0.09	-0.82	0.3	-0.81		0.67	0.77	OPTT
EML	0.73	0.72	0.31	-0.53	-0.71	-0.21	-0.79	0.67		0.63	EML
HURC	0.78	0.55	0.75	0.03	-0.83	0.38	-0.83	0.77	0.63		HURC
	ULBI	MATH	SNT	OPXS	IRS	MVST	GIFI	OPTT	EML	HURC

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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

GIFI	+ 0.85	IRS
MVST	+ 0.82	OPXS
OPTT	+ 0.78	ULBI
HURC	+ 0.78	ULBI
HURC	+ 0.77	OPTT
HURC	+ 0.75	SNT

High negative correlations

GIFI	- 0.91	ULBI
HURC	- 0.83	GIFI
HURC	- 0.83	IRS
OPTT	- 0.82	IRS
OPTT	- 0.81	GIFI
EML	- 0.79	GIFI

Risk-Adjusted Indicators

There is a big difference between Espey Stock performing well and Espey Mfg 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 Espey Mfg'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
ULBI	2.49	(0.49)	0.00	(0.21)	0.00	0.00	4.19	(6.01)	17.25
MATH	3.50	(0.04)	0.00	(0.13)	0.00	0.00	7.61	(7.77)	24.04
SNT	3.17	(0.34)	0.00	(0.78)	0.00	0.00	8.66	(6.04)	32.07
OPXS	2.92	0.18	0.06	0.16	3.51	(3.15)	5.57	(5.62)	23.53
IRS	3.04	0.43	0.08	(0.36)	3.30	(3.61)	6.34	(5.42)	36.65
MVST	4.28	0.54	0.11	0.35	4.53	(4.42)	12.50	(8.87)	31.06
GIFI	2.37	0.85	0.41	1.59	1.08	(3.10)	4.70	(3.25)	49.85
OPTT	4.16	(0.38)	0.00	(0.03)	0.00	0.00	7.89	(8.70)	34.57
EML	1.75	(0.35)	0.00	(0.20)	0.00	0.00	4.58	(3.45)	10.88
HURC	1.31	(0.30)	0.00	(0.41)	0.00	0.00	2.82	(3.06)	8.94

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