Monro Muffler Correlations

MNRO Stock

USD 20.80 0.20 0.95%

The current 90-days correlation between Monro Muffler Brake and Miller Industries is -0.24 (i.e., Very good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Monro Muffler moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Monro Muffler Brake moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Monro Muffler Correlation With Market

Poor diversification

The correlation between Monro Muffler Brake and DJI is 0.69 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Monro Muffler Brake and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Monro Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Monro Muffler Brake. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with Monro Stock

0.84	LION	Lionsgate Studios Holding	Pair Corr
0.79	HRMY	Harmony Biosciences	Pair Corr
0.86	JBHT	JB Hunt Transport	Pair Corr
0.81	OI	O I Glass	Pair Corr
0.66	UTHR	United Therapeutics	Pair Corr
0.83	TISCF	Taisei	Pair Corr
0.78	BMO	Bank of Montreal	Pair Corr
0.77	EBMT	Eagle Bancorp Montana Earnings Call This Week	Pair Corr

Moving against Monro Stock

0.79	KG	Kestrel Group Symbol Change	Pair Corr
0.57	AZO	AutoZone	Pair Corr
0.49	ASG	Autosports Group	Pair Corr
0.35	NTAP	NetApp Inc	Pair Corr
0.34	ORLY	OReilly Automotive	Pair Corr
0.41	QPRC	Quest Products Corp	Pair Corr

Related Correlations Analysis

	INVZ	MLR	AIIO	HYLN	VENU	CPS	KFS	PACK	HLLY	ZKH
INVZ		0.35	0.82	0.49	0.72	-0.04	0.67	-0.21	-0.89	-0.56	INVZ
MLR	0.35		0.1	0.79	0.3	0.29	0.5	0.52	-0.35	0.12	MLR
AIIO	0.82	0.1		0.12	0.46	0.02	0.49	-0.37	-0.64	-0.43	AIIO
HYLN	0.49	0.79	0.12		0.49	0.08	0.66	0.38	-0.5	-0.01	HYLN
VENU	0.72	0.3	0.46	0.49		-0.07	0.48	-0.29	-0.71	-0.72	VENU
CPS	-0.04	0.29	0.02	0.08	-0.07		0.06	0.54	0.07	0.21	CPS
KFS	0.67	0.5	0.49	0.66	0.48	0.06		0.06	-0.78	-0.1	KFS
PACK	-0.21	0.52	-0.37	0.38	-0.29	0.54	0.06		0.2	0.57	PACK
HLLY	-0.89	-0.35	-0.64	-0.5	-0.71	0.07	-0.78	0.2		0.5	HLLY
ZKH	-0.56	0.12	-0.43	-0.01	-0.72	0.21	-0.1	0.57	0.5		ZKH
	INVZ	MLR	AIIO	HYLN	VENU	CPS	KFS	PACK	HLLY	ZKH

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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

AIIO	+ 0.82	INVZ
HYLN	+ 0.79	MLR
VENU	+ 0.72	INVZ
KFS	+ 0.67	INVZ
KFS	+ 0.66	HYLN
ZKH	+ 0.57	PACK

High negative correlations

HLLY	- 0.89	INVZ
HLLY	- 0.78	KFS
ZKH	- 0.72	VENU
HLLY	- 0.71	VENU
HLLY	- 0.64	AIIO
ZKH	- 0.56	INVZ

Risk-Adjusted Indicators

There is a big difference between Monro Stock performing well and Monro Muffler 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 Monro Muffler'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
INVZ	3.52	(1.18)	0.00	(0.25)	0.00	0.00	6.14	(7.48)	34.74
MLR	1.36	0.04	(0.02)	(0.40)	1.87	(1.32)	2.66	(2.49)	7.96
AIIO	7.01	(1.90)	0.00	(1.38)	0.00	0.00	8.62	(16.18)	75.86
HYLN	3.53	(0.08)	0.01	0.04	4.73	(3.46)	6.19	(7.17)	20.27
VENU	4.59	(0.50)	0.00	(0.77)	0.00	0.00	7.95	(9.64)	28.28
CPS	2.43	(0.25)	0.00	(2.91)	0.00	0.00	5.82	(5.11)	17.42
KFS	1.98	(0.16)	0.00	(0.26)	0.00	0.00	4.13	(4.33)	20.86
PACK	2.77	0.03	0.00	0.17	4.15	(2.92)	5.08	(4.59)	21.26
HLLY	2.27	0.50	0.21	0.61	1.88	(2.64)	5.51	(3.70)	38.65
ZKH	2.03	0.29	0.07	1.04	2.68	(2.74)	6.38	(3.30)	25.66

Monro Muffler Corporate Management

John Heisman	Vice Resources	Profile
Matt Henson	Executive Officer	Profile
Tim Ferrell	Vice Marketing	Profile
Russ Welsh	North Operations	Profile

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