Hamilton Beach Correlations

HBB Stock

USD 16.57 0.10 0.61%

The current 90-days correlation between Hamilton Beach Brands and Flexsteel Industries is 0.12 (i.e., Average diversification). The correlation of Hamilton Beach 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.

Hamilton Beach Correlation With Market

Good diversification

The correlation between Hamilton Beach Brands and DJI is -0.2 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hamilton Beach Brands and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Hamilton Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Hamilton Beach 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 Hamilton Stock

0.68	VERA	Vera Therapeutics Buyout Trend	Pair Corr
0.82	COO	Cooper Companies, Sell-off Trend	Pair Corr

Moving against Hamilton Stock

0.5	VEII	Value Exchange Inter	Pair Corr
0.38	APRU	Apple Rush	Pair Corr
0.36	ATER	Aterian	Pair Corr
0.36	PIFMY	Indofood Sukses Makmur	Pair Corr
0.44	BB	BlackBerry Earnings Call This Week	Pair Corr

Related Correlations Analysis

	FLXS	VIOT	JAKK	LOVE	JILL	INSE	CRMT	DBI	GHG	MSC
FLXS		0.46	0.47	0.85	0.65	0.84	0.87	0.12	0.46	0.08	FLXS
VIOT	0.46		0.63	0.73	0.69	0.37	0.62	-0.54	0.83	0.5	VIOT
JAKK	0.47	0.63		0.66	0.57	0.36	0.65	-0.29	0.5	0.71	JAKK
LOVE	0.85	0.73	0.66		0.77	0.77	0.86	-0.12	0.74	0.34	LOVE
JILL	0.65	0.69	0.57	0.77		0.51	0.81	-0.24	0.52	0.2	JILL
INSE	0.84	0.37	0.36	0.77	0.51		0.72	0.31	0.42	-0.04	INSE
CRMT	0.87	0.62	0.65	0.86	0.81	0.72		0.04	0.46	0.26	CRMT
DBI	0.12	-0.54	-0.29	-0.12	-0.24	0.31	0.04		-0.53	-0.54	DBI
GHG	0.46	0.83	0.5	0.74	0.52	0.42	0.46	-0.53		0.55	GHG
MSC	0.08	0.5	0.71	0.34	0.2	-0.04	0.26	-0.54	0.55		MSC
	FLXS	VIOT	JAKK	LOVE	JILL	INSE	CRMT	DBI	GHG	MSC

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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

CRMT	+ 0.87	FLXS
CRMT	+ 0.86	LOVE
LOVE	+ 0.85	FLXS
INSE	+ 0.84	FLXS
GHG	+ 0.83	VIOT
CRMT	+ 0.81	JILL

High negative correlations

MSC	- 0.54	DBI
DBI	- 0.54	VIOT
GHG	- 0.53	DBI
DBI	- 0.29	JAKK
DBI	- 0.24	JILL
DBI	- 0.12	LOVE

Risk-Adjusted Indicators

There is a big difference between Hamilton Stock performing well and Hamilton Beach 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 Hamilton Beach'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
FLXS	2.01	(0.29)	0.00	(0.15)	0.00	0.00	4.63	(4.91)	17.05
VIOT	3.55	(0.43)	0.00	0.37	0.00	0.00	8.83	(7.69)	30.01
JAKK	1.87	(0.07)	0.00	0.26	0.00	0.00	4.74	(4.51)	11.14
LOVE	2.16	(0.42)	0.00	(0.20)	0.00	0.00	3.62	(5.35)	18.70
JILL	2.08	(0.33)	0.00	1.35	0.00	0.00	4.13	(4.26)	19.87
INSE	2.25	(0.18)	0.00	(0.02)	0.00	0.00	3.97	(4.76)	18.56
CRMT	3.33	(0.35)	0.00	0.52	0.00	0.00	8.00	(5.55)	18.39
DBI	4.19	1.34	0.36	(3.11)	2.62	(5.70)	10.60	(5.16)	52.11
GHG	1.70	(0.27)	0.00	(0.49)	0.00	0.00	3.14	(4.43)	12.92
MSC	3.65	(0.08)	0.00	0.19	0.00	0.00	7.57	(7.82)	28.42

Hamilton Beach Corporate Management

Thomas Rankin	Director	Profile
Derek Redmond	Assistant Secretary	Profile
John Jumper	Independent Director	Profile
Mark Belgya	Independent Director	Profile
Michael Miller	Independent Director	Profile

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