Espey Mfg Correlations

ESP Stock  USD 20.65  0.32  1.53%   
The correlation of Espey Mfg 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Espey Mfg moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Espey Mfg Electronics moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Significant diversification

The correlation between Espey Mfg Electronics and NYA is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Espey Mfg Electronics and NYA in the same portfolio, assuming nothing else is changed.
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Espey Mfg Electronics. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in state.
  
The ability to find closely correlated positions to Espey Mfg could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Espey Mfg when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Espey Mfg - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Espey Mfg Electronics to buy it.

Moving together with Espey Stock

  0.75ELVA Electrovaya Common SharesPairCorr

Moving against Espey Stock

  0.63WIRE Encore WirePairCorr
  0.58ROBOF RoboGroup TEKPairCorr
  0.42ENCPW Energem Corp WarrantPairCorr
  0.42VRT Vertiv HoldingsPairCorr
  0.41NVT nVent Electric PLCPairCorr

Related Correlations Analysis

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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   
FLNCSLDP
MVSTENVX
FLNCENVX
LICYSLDP
ENVXSLDP
  
High negative correlations   
LICYENVX
FLNCMVST
LICYMVST
MVSTSLDP
FLNCLICY

Risk-Adjusted Indicators

There is a big difference between Espey Stock performing well and Espey Mfg 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 Espey Mfg'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Espey Mfg without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Espey Mfg Corporate Directors

Espey Mfg corporate directors refer to members of an Espey Mfg board of directors. The board of directors generally takes responsibility for the Espey Mfg's affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of Espey Mfg's board members must vote for the resolution. The Espey Mfg board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.
Michael WoolIndependent DirectorProfile
Peggy MurphySecretary, Director - Human Resources and Facility Security OfficerProfile
Alvin SaboIndependent DirectorProfile
Barry PinsleyIndependent DirectorProfile

Already Invested in Espey Mfg Electronics?

The danger of trading Espey Mfg Electronics is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Espey Mfg is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Espey Mfg. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Espey Mfg Electronics is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether Espey Mfg Electronics is a good investment, qualitative aspects like company management, corporate governance, and ethical practices play a significant role. A comparison with peer companies also provides context and helps to understand if Espey Stock is undervalued or overvalued. This multi-faceted approach, blending both quantitative and qualitative analysis, forms a solid foundation for making an informed investment decision about Espey Mfg Electronics Stock. Highlighted below are key reports to facilitate an investment decision about Espey Mfg Electronics Stock:
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Espey Mfg Electronics. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in state.
You can also try the Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.

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Is Espey Mfg's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Espey Mfg. If investors know Espey will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Espey Mfg listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth
0.143
Dividend Share
0.575
Earnings Share
1.92
Revenue Per Share
14.325
Quarterly Revenue Growth
(0.16)
The market value of Espey Mfg Electronics is measured differently than its book value, which is the value of Espey that is recorded on the company's balance sheet. Investors also form their own opinion of Espey Mfg's value that differs from its market value or its book value, called intrinsic value, which is Espey Mfg's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Espey Mfg's market value can be influenced by many factors that don't directly affect Espey Mfg's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Espey Mfg's value and its price as these two are different measures arrived at by different means. Investors typically determine if Espey Mfg is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Espey Mfg's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.