Park Electrochemical Correlations

PKE Stock

USD 14.18 0.23 1.65%

The current 90-days correlation between Park Electrochemical and Innovative Solutions and is 0.45 (i.e., Very weak diversification). The correlation of Park Electrochemical 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.

Park Electrochemical Correlation With Market

Poor diversification

The correlation between Park Electrochemical and DJI is 0.72 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Park Electrochemical and DJI in the same portfolio, assuming nothing else is changed.

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

For information on how to trade Park Stock refer to our How to Trade Park Stock guide.

Moving together with Park Stock

0.73	BA	Boeing	Pair Corr
0.7	CW	Curtiss Wright	Pair Corr
0.78	GE	GE Aerospace	Pair Corr
0.76	BA-PA	Boeing	Pair Corr
0.7	VSEC	VSE Corporation	Pair Corr
0.67	VTSI	VirTra Inc	Pair Corr
0.66	EVEX	Eve Holding	Pair Corr
0.76	EVTL	Vertical Aerospace	Pair Corr
0.71	AIR	AAR Corp	Pair Corr
0.75	CAE	CAE Inc	Pair Corr
0.76	DCO	Ducommun Incorporated	Pair Corr
0.75	HEI	Heico	Pair Corr
0.68	HWM	Howmet Aerospace	Pair Corr
0.63	LHX	L3Harris Technologies	Pair Corr
0.71	RDW	Redwire Corp	Pair Corr
0.81	RTX	Raytheon Technologies	Pair Corr
0.63	SIF	SIFCO Industries	Pair Corr
0.8	SPR	Spirit Aerosystems	Pair Corr
0.71	TDG	Transdigm Group	Pair Corr
0.76	TGI	Triumph Group	Pair Corr
0.81	TXT	Textron	Pair Corr

Moving against Park Stock

0.33

SHMDW

SCHMID Group NV

Pair Corr

Related Correlations Analysis

	ISSC	KAMN	VSEC	CW	DCO	NPK	ATRO	CDRE
ISSC		0.0	0.75	0.94	0.92	0.06	0.9	0.52	ISSC
KAMN	0.0		0.0	0.0	0.0	0.0	0.0	0.0	KAMN
VSEC	0.75	0.0		0.83	0.86	0.11	0.91	0.65	VSEC
CW	0.94	0.0	0.83		0.95	-0.11	0.91	0.56	CW
DCO	0.92	0.0	0.86	0.95		0.02	0.97	0.71	DCO
NPK	0.06	0.0	0.11	-0.11	0.02		0.15	0.2	NPK
ATRO	0.9	0.0	0.91	0.91	0.97	0.15		0.71	ATRO
CDRE	0.52	0.0	0.65	0.56	0.71	0.2	0.71		CDRE
	ISSC	KAMN	VSEC	CW	DCO	NPK	ATRO	CDRE

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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

ATRO	+ 0.97	DCO
DCO	+ 0.95	CW
CW	+ 0.94	ISSC
DCO	+ 0.92	ISSC
ATRO	+ 0.91	VSEC
ATRO	+ 0.91	CW

High negative correlations

NPK	- 0.11	CW
CDRE	- 0.0	KAMN
ATRO	- 0.0	KAMN
NPK	- 0.0	KAMN
DCO	- 0.0	KAMN
CW	- 0.0	KAMN

Risk-Adjusted Indicators

There is a big difference between Park Stock performing well and Park Electrochemical 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 Park Electrochemical'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
ISSC	3.34	0.95	0.30	0.73	2.56	(3.97)	8.39	(4.78)	39.02
KAMN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
VSEC	2.15	0.23	0.07	(2.33)	2.97	(2.15)	4.67	(4.97)	15.18
CW	1.57	0.57	0.20	3.43	2.15	(1.64)	3.63	(3.15)	13.10
DCO	1.36	0.39	0.22	0.50	1.43	(1.55)	3.95	(2.33)	12.59
NPK	1.19	(0.10)	0.00	(0.17)	0.00	0.00	2.36	(2.66)	8.21
ATRO	2.24	0.49	0.20	0.41	2.18	(2.72)	5.07	(3.61)	19.03
CDRE	1.96	0.13	0.05	0.14	2.40	(1.97)	3.70	(4.27)	23.89

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