Onewater Marine Correlations
| ONEW Stock | USD 23.32 0.85 3.52% |
The correlation of Onewater Marine 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 Onewater Marine moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Onewater Marine 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.
Very weak diversification
The correlation between Onewater Marine and NYA is 0.47 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Onewater Marine and NYA in the same portfolio, assuming nothing else is changed.
Onewater |
The ability to find closely correlated positions to Onewater Marine could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Onewater Marine 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 Onewater Marine - 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 Onewater Marine to buy it.
Moving against Onewater Stock
| 0.41 | M | Macys Inc Earnings Call This Week | PairCorr |
| 0.41 | AKA | AKA Brands Holding Financial Report 8th of May 2024 | 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
|
Risk-Adjusted Indicators
There is a big difference between Onewater Stock performing well and Onewater Marine 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 Onewater Marine'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| LCII | 1.88 | (0.21) | 0.00 | (0.01) | 0.00 | 3.17 | 13.55 | |||
| MCFT | 1.85 | (0.13) | (0.02) | 0.02 | 2.53 | 3.73 | 12.10 | |||
| DOOO | 1.73 | (0.07) | (0.02) | 0.03 | 2.08 | 3.44 | 11.09 | |||
| MBUU | 2.32 | (0.80) | 0.00 | (0.24) | 0.00 | 3.62 | 20.74 | |||
| WGO | 1.55 | (0.18) | 0.00 | (0.03) | 0.00 | 2.66 | 11.01 | |||
| BC | 1.45 | (0.15) | (0.04) | 0.00 | 1.81 | 2.74 | 9.44 | |||
| MPX | 2.11 | (0.07) | 0.01 | 0.05 | 2.90 | 4.20 | 22.62 | |||
| VEEE | 4.43 | (0.62) | 0.00 | 0.64 | 0.00 | 8.06 | 29.09 | |||
| CMOT | 6.81 | 0.75 | 0.03 | 7.56 | 9.49 | 17.65 | 89.77 | |||
| PII | 1.29 | (0.23) | 0.00 | (0.07) | 0.00 | 2.20 | 9.35 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Onewater Marine 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?
Run Bonds Directory Now
Bonds DirectoryFind actively traded corporate debentures issued by US companies |
| All Next | Launch Module |
Onewater Marine Corporate Executives
Elected by the shareholders, the Onewater Marine's board of directors comprises two types of representatives: Onewater Marine inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Onewater. The board's role is to monitor Onewater Marine's management team and ensure that shareholders' interests are well served. Onewater Marine'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, Onewater Marine's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Jack Ezzell | CFO Secretary | Profile |
Already Invested in Onewater Marine?
The danger of trading Onewater Marine 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 Onewater Marine 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 Onewater Marine. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Onewater Marine 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 Onewater Marine is a strong investment it is important to analyze Onewater Marine'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 Onewater Marine's future performance. For an informed investment choice regarding Onewater Stock, refer to the following important reports: Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Onewater Marine. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in income. For more information on how to buy Onewater Stock please use our How to Invest in Onewater Marine guide.Note that the Onewater Marine information on this page should be used as a complementary analysis to other Onewater Marine's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Portfolio Dashboard module to portfolio dashboard that provides centralized access to all your investments.
Complementary Tools for Onewater Stock analysis
When running Onewater Marine's price analysis, check to measure Onewater Marine'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 Onewater Marine is operating at the current time. Most of Onewater Marine's value examination focuses on studying past and present price action to predict the probability of Onewater Marine's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Onewater Marine's price. Additionally, you may evaluate how the addition of Onewater Marine to your portfolios can decrease your overall portfolio volatility.
| AI Investment Finder Use AI to screen and filter profitable investment opportunities | |
| Top Crypto Exchanges Search and analyze digital assets across top global cryptocurrency exchanges | |
| Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets | |
| Portfolio Analyzer Portfolio analysis module that provides access to portfolio diagnostics and optimization engine | |
| Portfolio Diagnostics Use generated alerts and portfolio events aggregator to diagnose current holdings | |
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume | |
| ETF Categories List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments | |
| Equity Analysis Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities | |
| CEOs Directory Screen CEOs from public companies around the world | |
| Money Managers Screen money managers from public funds and ETFs managed around the world | |
| Volatility Analysis Get historical volatility and risk analysis based on latest market data | |
| Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance |
Is Onewater Marine'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 Onewater Marine. If investors know Onewater 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 Onewater Marine 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 (0.49) | Earnings Share (3.80) | Revenue Per Share 134.387 | Quarterly Revenue Growth (0.01) | Return On Assets 0.0546 |
The market value of Onewater Marine is measured differently than its book value, which is the value of Onewater that is recorded on the company's balance sheet. Investors also form their own opinion of Onewater Marine's value that differs from its market value or its book value, called intrinsic value, which is Onewater Marine'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 Onewater Marine's market value can be influenced by many factors that don't directly affect Onewater Marine'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 Onewater Marine's value and its price as these two are different measures arrived at by different means. Investors typically determine if Onewater Marine is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Onewater Marine'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.