Smith Midland Correlations
| SMID Stock | USD 34.15 0.73 2.18% |
The correlation of Smith Midland 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.
Average diversification
The correlation between Smith Midland Corp and NYA is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Smith Midland Corp and NYA in the same portfolio, assuming nothing else is changed.
Smith |
Moving together with Smith Stock
| 0.75 | CX | Cemex SAB de | PairCorr |
| 0.84 | BCC | Boise Cascad Llc | PairCorr |
| 0.73 | CE | Celanese | PairCorr |
| 0.65 | FF | FutureFuel Corp | PairCorr |
| 0.68 | MT | ArcelorMittal SA ADR | PairCorr |
| 0.68 | RS | Reliance Steel Aluminum | PairCorr |
Moving against Smith Stock
| 0.48 | RETO | ReTo Eco Solutions | PairCorr |
| 0.39 | USLM | United States Lime | PairCorr |
| 0.37 | NC | NACCO Industries | PairCorr |
| 0.34 | MP | MP Materials Corp | PairCorr |
| 0.32 | AU | AngloGold Ashanti plc Financial Report 28th of June 2024 | PairCorr |
| 0.43 | VKSC | Viskase Companies | PairCorr |
| 0.39 | HYMCL | Hycroft Mining Holding | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Smith Stock performing well and Smith Midland 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 Smith Midland'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| MLM | 0.91 | (0.17) | 0.00 | (0.16) | 0.00 | 1.48 | 7.59 | |||
| VMC | 0.88 | (0.13) | 0.00 | (0.11) | 0.00 | 1.60 | 5.79 | |||
| SUM | 1.23 | (0.22) | 0.00 | (0.13) | 0.00 | 2.15 | 8.18 | |||
| USLM | 1.30 | 0.23 | 0.19 | 0.18 | 1.08 | 3.42 | 8.08 | |||
| JHX | 1.58 | (0.43) | 0.00 | (0.32) | 0.00 | 2.16 | 18.59 | |||
| EXP | 1.42 | (0.20) | 0.00 | (0.11) | 0.00 | 2.59 | 9.24 | |||
| CRH | 1.36 | (0.08) | 0.00 | (0.05) | 0.00 | 2.37 | 7.69 | |||
| CX | 1.35 | (0.26) | 0.00 | (0.26) | 0.00 | 2.38 | 12.18 |
Smith Midland Corporate Executives
Elected by the shareholders, the Smith Midland's board of directors comprises two types of representatives: Smith Midland inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Smith. The board's role is to monitor Smith Midland's management team and ensure that shareholders' interests are well served. Smith Midland's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Smith Midland's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Adam Krick | Treasurer, CFO | Profile | |
| Stephanie Poe | Treasur CFO | Profile |