Patrick Industries Correlations

PATK Stock

USD 113.56 0.50 0.44%

The current 90-days correlation between Patrick Industries and La Z Boy Incorporated is 0.51 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Patrick Industries moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Patrick Industries moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Patrick Industries Correlation With Market

Very weak diversification

The correlation between Patrick Industries and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Patrick Industries and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Patrick Stock

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Patrick Industries. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in housing.

For more information on how to buy Patrick Stock please use our How to buy in Patrick Stock guide.

Moving together with Patrick Stock

0.81	SN	SharkNinja,	Pair Corr
0.79	VIOT	Viomi Technology ADR	Pair Corr
0.74	FLXS	Flexsteel Industries	Pair Corr
0.86	ETD	Ethan Allen Interiors	Pair Corr
0.96	MBC	MasterBrand	Pair Corr
0.97	MHK	Mohawk Industries	Pair Corr
0.97	SGI	Somnigroup International Symbol Change	Pair Corr
0.61	KEQU	Kewaunee Scientific Earnings Call Tomorrow	Pair Corr
0.63	OESX	Orion Energy Systems	Pair Corr
0.86	PRPL	Purple Innovation	Pair Corr
0.9	AMWD	American Woodmark	Pair Corr
0.83	F-PB	Ford Motor	Pair Corr
0.81	F-PC	Ford Motor	Pair Corr
0.87	F-PD	F PD	Pair Corr

Moving against Patrick Stock

0.78	ATER	Aterian	Pair Corr
0.69	FGIWW	FGI Industries	Pair Corr
0.68	HBB	Hamilton Beach Brands	Pair Corr
0.63	COOK	Traeger	Pair Corr
0.61	NTZ	Natuzzi SpA	Pair Corr
0.53	LZB	La Z Boy	Pair Corr
0.47	MWYN	Marwynn Holdings, Common	Pair Corr
0.39	NCL	Northann Corp	Pair Corr
0.31	HOFT	Hooker Furniture Earnings Call This Week	Pair Corr
0.8	CHA	Chagee Holdings	Pair Corr
0.65	KRT	Karat Packaging	Pair Corr
0.65	MMA	Alta Global Group	Pair Corr
0.64	IVP	Inspire Veterinary	Pair Corr
0.62	WBUY	WEBUY GLOBAL LTD	Pair Corr
0.51	IPW	iPower Inc	Pair Corr
0.46	AIN	Albany International	Pair Corr
0.43	HNI	HNI Corp	Pair Corr
0.41	OI	O I Glass	Pair Corr

Related Correlations Analysis

	LZB	HOFT	FLXS	BSET	HBB	LCII	CVCO	UFPI	AMWD
LZB		0.6	-0.47	0.07	0.67	-0.4	-0.38	0.07	-0.29	LZB
HOFT	0.6		0.06	0.22	0.77	-0.08	-0.16	0.44	-0.22	HOFT
FLXS	-0.47	0.06		0.3	-0.26	0.82	0.8	0.55	0.63	FLXS
BSET	0.07	0.22	0.3		0.17	0.49	0.15	0.55	0.21	BSET
HBB	0.67	0.77	-0.26	0.17		-0.47	-0.53	0.16	-0.61	HBB
LCII	-0.4	-0.08	0.82	0.49	-0.47		0.83	0.7	0.83	LCII
CVCO	-0.38	-0.16	0.8	0.15	-0.53	0.83		0.42	0.92	CVCO
UFPI	0.07	0.44	0.55	0.55	0.16	0.7	0.42		0.43	UFPI
AMWD	-0.29	-0.22	0.63	0.21	-0.61	0.83	0.92	0.43		AMWD
	LZB	HOFT	FLXS	BSET	HBB	LCII	CVCO	UFPI	AMWD

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

AMWD	+ 0.92	CVCO
CVCO	+ 0.83	LCII
AMWD	+ 0.83	LCII
LCII	+ 0.82	FLXS
CVCO	+ 0.8	FLXS
HBB	+ 0.77	HOFT

High negative correlations

AMWD	- 0.61	HBB
CVCO	- 0.53	HBB
LCII	- 0.47	HBB
FLXS	- 0.47	LZB
LCII	- 0.4	LZB
CVCO	- 0.38	LZB

Risk-Adjusted Indicators

There is a big difference between Patrick Stock performing well and Patrick Industries 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 Patrick Industries' 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
LZB	1.64	(0.34)	0.00	(0.10)	0.00	0.00	3.09	(2.98)	16.07
HOFT	2.83	(0.17)	(0.01)	0.02	3.67	(3.18)	6.75	(5.93)	23.83
FLXS	2.59	0.56	0.25	0.34	2.19	(3.01)	5.48	(4.13)	24.17
BSET	2.40	0.05	0.01	0.15	2.48	(2.76)	6.60	(4.39)	17.02
HBB	2.61	(0.51)	0.00	(0.09)	0.00	0.00	4.75	(6.01)	19.05
LCII	1.50	0.13	0.14	0.16	1.20	(1.74)	4.14	(2.67)	8.74
CVCO	1.65	0.18	0.16	0.18	1.45	(1.85)	4.58	(2.52)	8.92
UFPI	1.60	(0.06)	0.01	0.06	1.56	(1.94)	4.09	(2.77)	9.58
AMWD	2.30	0.14	0.12	0.14	2.03	(2.72)	6.21	(3.81)	18.04

Patrick Industries Corporate Management

Jacob Petkovich	CFO, Officer	Profile
Attorney Duthie	Chief VP	Profile
Charlie Roeder	Executive Officer	Profile
Steve OHara	Vice Relations	Profile
Julie Kotowski	Director Relations	Profile

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