Modine Manufacturing Correlations
| MOD Stock | USD 89.05 2.53 2.92% |
The correlation of Modine 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Modine Manufacturing moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Modine Manufacturing 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.
Weak diversification
The correlation between Modine Manufacturing and NYA is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Modine Manufacturing and NYA in the same portfolio, assuming nothing else is changed.
Modine |
The ability to find closely correlated positions to Modine Manufacturing could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Modine Manufacturing 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 Modine Manufacturing - 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 Modine Manufacturing to buy it.
Moving together with Modine Stock
| 0.81 | F | Ford Motor Earnings Call Today | PairCorr |
| 0.89 | GM | General Motors Aggressive Push | PairCorr |
| 0.92 | TM | Toyota Motor Financial Report 8th of May 2024 | PairCorr |
| 0.84 | DORM | Dorman Products Financial Report 7th of May 2024 | PairCorr |
| 0.78 | EVTV | Envirotech Vehicles Report 23rd of September 2024 | PairCorr |
| 0.91 | ALV | Autoliv Earnings Call This Week | PairCorr |
Moving against Modine Stock
| 0.9 | EGOX | NexteGO NV Ordinary | PairCorr |
| 0.86 | FFIE | Faraday Future Intel | PairCorr |
| 0.86 | FUV | Arcimoto | PairCorr |
| 0.86 | KNDI | Kandi Technologies | PairCorr |
| 0.85 | VLCN | Volcon Inc Financial Report 3rd of May 2024 | PairCorr |
| 0.79 | FOXF | Fox Factory Holding Financial Report 2nd of May 2024 | PairCorr |
| 0.75 | WKSP | Worksport | PairCorr |
| 0.7 | QS | Quantumscape Corp Earnings Call Today | PairCorr |
| 0.69 | DAN | Dana Inc Earnings Call This Week | PairCorr |
| 0.69 | GGR | Gogoro Inc Financial Report 9th of May 2024 | PairCorr |
| 0.64 | AXL | American Axle Manufa Financial Report 3rd of May 2024 | PairCorr |
| 0.61 | MPAA | Motorcar Parts Financial Report 11th of June 2024 | PairCorr |
| 0.57 | VC | Visteon Corp Earnings Call Tomorrow | PairCorr |
| 0.57 | ECX | ECARX Holdings Class Financial Report 10th of June 2024 | PairCorr |
| 0.49 | GT | Goodyear Tire Rubber Financial Report 2nd of May 2024 | PairCorr |
Related Correlations Analysis
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Our tools can tell you how much better you can do entering a position in Modine Manufacturing 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.Did you try this?
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Modine Manufacturing Corporate Directors
Modine Manufacturing corporate directors refer to members of a Modine Manufacturing board of directors. The board of directors generally takes responsibility for the Modine Manufacturing'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 Modine Manufacturing's board members must vote for the resolution. The Modine Manufacturing board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.| David Anderson | Independent Director | Profile | |
| Larry Moore | Independent Director | Profile | |
| Eric Ashleman | Independent Director | Profile | |
| Charles Cooley | Independent Director | Profile |
Already Invested in Modine Manufacturing?
The danger of trading Modine Manufacturing 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 Modine Manufacturing 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 Modine Manufacturing. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Modine Manufacturing 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 Modine Manufacturing is a strong investment it is important to analyze Modine Manufacturing's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Modine Manufacturing's future performance. For an informed investment choice regarding Modine Stock, refer to the following important reports: Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Modine Manufacturing. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in persons. For information on how to trade Modine Stock refer to our How to Trade Modine Stock guide.You can also try the Portfolio Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.
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When running Modine Manufacturing's price analysis, check to measure Modine Manufacturing's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Modine Manufacturing is operating at the current time. Most of Modine Manufacturing's value examination focuses on studying past and present price action to predict the probability of Modine Manufacturing's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Modine Manufacturing's price. Additionally, you may evaluate how the addition of Modine Manufacturing to your portfolios can decrease your overall portfolio volatility.
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Is Modine Manufacturing'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 Modine Manufacturing. If investors know Modine 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 Modine Manufacturing 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 0.804 | Earnings Share 4.25 | Revenue Per Share 46.185 | Quarterly Revenue Growth 0.003 | Return On Assets 0.0969 |
The market value of Modine Manufacturing is measured differently than its book value, which is the value of Modine that is recorded on the company's balance sheet. Investors also form their own opinion of Modine Manufacturing's value that differs from its market value or its book value, called intrinsic value, which is Modine Manufacturing'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 Modine Manufacturing's market value can be influenced by many factors that don't directly affect Modine Manufacturing'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 Modine Manufacturing's value and its price as these two are different measures arrived at by different means. Investors typically determine if Modine Manufacturing is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Modine Manufacturing'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.