Snap On Correlations
SNA Stock | USD 273.59 2.25 0.83% |
The correlation of Snap On 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 Snap On moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Snap On 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 Snap On 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 Snap On and NYA in the same portfolio, assuming nothing else is changed.
Snap |
The ability to find closely correlated positions to Snap On could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Snap On 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 Snap On - 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 Snap On to buy it.
Moving together with Snap Stock
0.69 | SWK | Stanley Black Decker Earnings Call Next Week | 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 Snap Stock performing well and Snap On 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 Snap On'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 | ||
---|---|---|---|---|---|---|---|---|---|---|
LECO | 0.97 | 0.01 | 0.04 | 0.09 | 0.98 | 1.89 | 9.51 | |||
TKR | 1.19 | 0.00 | 0.04 | 0.08 | 1.64 | 2.34 | 8.39 | |||
RBCP | 1.07 | (0.22) | 0.00 | (0.10) | 0.00 | 2.14 | 6.88 | |||
KMT | 1.36 | (0.14) | (0.04) | 0.00 | 1.80 | 2.43 | 7.19 | |||
TTC | 1.11 | (0.17) | 0.00 | (0.11) | 0.00 | 2.11 | 8.42 | |||
TTNDY | 1.82 | 0.27 | 0.13 | 0.36 | 1.65 | 4.89 | 11.56 | |||
RBC | 1.13 | (0.31) | 0.00 | (0.15) | 0.00 | 2.28 | 7.55 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Snap On 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 Companies Directory Now
Companies DirectoryEvaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals |
All Next | Launch Module |
Snap On Corporate Directors
Snap On corporate directors refer to members of a Snap On board of directors. The board of directors generally takes responsibility for the Snap On'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 Snap On's board members must vote for the resolution. The Snap On board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.William Lehman | Independent Director | Profile | |
Nathan Jones | Independent Director | Profile | |
Karen Daniel | Independent Director | Profile | |
David Adams | Independent Director | Profile |
Already Invested in Snap On?
The danger of trading Snap On 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 Snap On 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 Snap On. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Snap On 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 Snap On offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Snap On's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Snap On Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Snap On Stock: Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Snap On. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in board of governors. For information on how to trade Snap Stock refer to our How to Trade Snap Stock guide.You can also try the Fundamental Analysis module to view fundamental data based on most recent published financial statements.
Complementary Tools for Snap Stock analysis
When running Snap On's price analysis, check to measure Snap On'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 Snap On is operating at the current time. Most of Snap On's value examination focuses on studying past and present price action to predict the probability of Snap On's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Snap On's price. Additionally, you may evaluate how the addition of Snap On to your portfolios can decrease your overall portfolio volatility.
Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years | |
Equity Analysis Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities | |
Bollinger Bands Use Bollinger Bands indicator to analyze target price for a given investing horizon | |
Earnings Calls Check upcoming earnings announcements updated hourly across public exchanges | |
Balance Of Power Check stock momentum by analyzing Balance Of Power indicator and other technical ratios | |
Price Exposure Probability Analyze equity upside and downside potential for a given time horizon across multiple markets | |
Equity Forecasting Use basic forecasting models to generate price predictions and determine price momentum |
Is Snap On'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 Snap On. If investors know Snap 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 Snap On 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 0.067 | Dividend Share 6.96 | Earnings Share 19.08 | Revenue Per Share 96.811 | Quarterly Revenue Growth 0.005 |
The market value of Snap On is measured differently than its book value, which is the value of Snap that is recorded on the company's balance sheet. Investors also form their own opinion of Snap On's value that differs from its market value or its book value, called intrinsic value, which is Snap On'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 Snap On's market value can be influenced by many factors that don't directly affect Snap On'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 Snap On's value and its price as these two are different measures arrived at by different means. Investors typically determine if Snap On is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Snap On'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.