Simpson Manufacturing Correlations

SSD Stock

USD 186.29 0.82 0.44%

The current 90-days correlation between Simpson Manufacturing and Armstrong World Industries is 0.37 (i.e., Weak diversification). The correlation of Simpson Manufacturing 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.

Simpson Manufacturing Correlation With Market

Modest diversification

The correlation between Simpson Manufacturing and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Simpson Manufacturing and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Simpson Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Simpson Manufacturing. 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.

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

Moving together with Simpson Stock

0.68	BA	Boeing Earnings Call This Week	Pair Corr
0.61	CVX	Chevron Corp Earnings Call Next Week	Pair Corr
0.87	HD	Home Depot	Pair Corr

Moving against Simpson Stock

0.6	CSCO	Cisco Systems	Pair Corr
0.41	PNGM	Er Therapeutics	Pair Corr

Related Correlations Analysis

	AWI	FBIN	TTC	AAON	TFII	PRIM	ESAB	IESC	FSS	AL
AWI		0.57	0.62	0.08	0.44	0.53	0.74	0.19	0.71	0.23	AWI
FBIN	0.57		0.87	-0.12	0.77	0.67	0.78	0.58	0.37	0.34	FBIN
TTC	0.62	0.87		-0.26	0.85	0.57	0.74	0.31	0.34	0.4	TTC
AAON	0.08	-0.12	-0.26		-0.65	0.27	0.13	-0.1	0.36	-0.71	AAON
TFII	0.44	0.77	0.85	-0.65		0.41	0.57	0.51	0.13	0.66	TFII
PRIM	0.53	0.67	0.57	0.27	0.41		0.76	0.65	0.66	0.01	PRIM
ESAB	0.74	0.78	0.74	0.13	0.57	0.76		0.47	0.68	0.16	ESAB
IESC	0.19	0.58	0.31	-0.1	0.51	0.65	0.47		0.23	0.18	IESC
FSS	0.71	0.37	0.34	0.36	0.13	0.66	0.68	0.23		-0.12	FSS
AL	0.23	0.34	0.4	-0.71	0.66	0.01	0.16	0.18	-0.12		AL
	AWI	FBIN	TTC	AAON	TFII	PRIM	ESAB	IESC	FSS	AL

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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

TTC	+ 0.87	FBIN
TFII	+ 0.85	TTC
ESAB	+ 0.78	FBIN
TFII	+ 0.77	FBIN
ESAB	+ 0.76	PRIM
ESAB	+ 0.74	AWI

High negative correlations

AL	- 0.71	AAON
TFII	- 0.65	AAON
AAON	- 0.26	TTC
AL	- 0.12	FSS
AAON	- 0.12	FBIN
IESC	- 0.1	AAON

Risk-Adjusted Indicators

There is a big difference between Simpson Stock performing well and Simpson Manufacturing 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 Simpson Manufacturing'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
AWI	1.06	(0.21)	0.00	(0.12)	0.00	0.00	2.43	(2.80)	7.39
FBIN	1.80	0.13	0.13	0.16	1.46	(2.18)	5.20	(2.60)	10.57
TTC	1.28	0.25	0.22	0.36	0.75	(1.65)	2.94	(1.82)	13.49
AAON	2.39	(0.28)	0.00	(0.07)	0.00	0.00	4.40	(5.87)	14.22
TFII	1.54	0.25	0.15	0.30	1.50	(1.65)	3.13	(2.47)	9.73
PRIM	2.20	0.00	0.01	0.10	3.21	(2.24)	5.21	(4.72)	14.82
ESAB	1.39	(0.11)	(0.03)	0.02	1.88	(1.45)	3.31	(2.96)	7.88
IESC	2.82	0.01	0.02	0.10	3.69	(2.97)	5.82	(5.56)	19.47
FSS	1.26	(0.24)	0.00	(0.12)	0.00	0.00	2.11	(2.04)	13.86
AL	0.09	0.01	(0.63)	0.45	0.00	(0.12)	0.25	(0.17)	0.66

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