Gentex Correlations

GTX Stock

EUR 28.00 0.20 0.71%

The current 90-days correlation between Gentex and LKQ Corporation is 0.23 (i.e., Modest diversification). The correlation of Gentex 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.

Gentex Correlation With Market

Modest diversification

The correlation between Gentex and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gentex and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Gentex could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Gentex 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 Gentex - 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 Gentex to buy it.

Moving together with Gentex Stock

0.82	MGA	Magna International	Pair Corr
0.61	CON	Continental Aktiengesellscha	Pair Corr
0.63	CON	Continental Aktiengesellscha	Pair Corr
0.72	HXL	Hexcel	Pair Corr
0.73	LIE	Sun Life Financial	Pair Corr
0.73	WX7	Corporate Office Pro	Pair Corr
0.72	SK3	Smurfit Kappa Group	Pair Corr
0.71	PPB	Flutter Entertainment PLC	Pair Corr
0.79	M4I	Mastercard	Pair Corr
0.66	6GAA	Grupo Aval Acciones	Pair Corr
0.72	HIP	Park Hotels Resorts	Pair Corr
0.72	AF4	HANOVER INSURANCE	Pair Corr
0.66	VAI	Vail Resorts	Pair Corr
0.7	BRYN	Berkshire Hathaway	Pair Corr
0.78	OM6	OReilly Automotive	Pair Corr
0.86	NT4	Northern Trust	Pair Corr

Moving against Gentex Stock

0.75	TCID	Telkom Indonesia Tbk	Pair Corr
0.72	BGTA	Bridgestone	Pair Corr
0.7	SSU	Samsung Electronics	Pair Corr
0.7	SSU	Samsung Electronics	Pair Corr
0.68	D7A	Aptiv PLC	Pair Corr
0.68	SSUN	Samsung Electronics	Pair Corr
0.67	SSUN	Samsung Electronics	Pair Corr
0.59	TCID	Telkom Indonesia Tbk	Pair Corr
0.55	TCID	Telkom Indonesia Tbk	Pair Corr
0.54	PTI	Perusahaan Perseroan	Pair Corr
0.45	TCID	Telkom Indonesia Tbk	Pair Corr
0.49	ECHA	Ecopetrol SA	Pair Corr

Related Correlations Analysis

	DNO	DNOA	D7A	BGTA	ASJA	MGA	LKQ1	CON	CON	4FG
DNO		0.85	-0.65	-0.28	0.03	0.54	0.45	0.31	0.33	-0.11	DNO
DNOA	0.85		-0.69	-0.24	-0.1	0.51	0.38	0.21	0.23	-0.04	DNOA
D7A	-0.65	-0.69		0.72	0.1	-0.76	-0.35	-0.5	-0.52	-0.31	D7A
BGTA	-0.28	-0.24	0.72		0.08	-0.59	-0.05	-0.51	-0.53	-0.48	BGTA
ASJA	0.03	-0.1	0.1	0.08		-0.07	0.11	-0.04	-0.07	-0.32	ASJA
MGA	0.54	0.51	-0.76	-0.59	-0.07		0.71	0.81	0.82	0.28	MGA
LKQ1	0.45	0.38	-0.35	-0.05	0.11	0.71		0.58	0.58	-0.11	LKQ1
CON	0.31	0.21	-0.5	-0.51	-0.04	0.81	0.58		0.99	0.34	CON
CON	0.33	0.23	-0.52	-0.53	-0.07	0.82	0.58	0.99		0.31	CON
4FG	-0.11	-0.04	-0.31	-0.48	-0.32	0.28	-0.11	0.34	0.31		4FG
	DNO	DNOA	D7A	BGTA	ASJA	MGA	LKQ1	CON	CON	4FG

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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

CON	+ 0.99	CON
DNOA	+ 0.85	DNO
CON	+ 0.82	MGA
CON	+ 0.81	MGA
BGTA	+ 0.72	D7A
LKQ1	+ 0.71	MGA

High negative correlations

MGA	- 0.76	D7A
D7A	- 0.69	DNOA
D7A	- 0.65	DNO
MGA	- 0.59	BGTA
CON	- 0.53	BGTA
CON	- 0.52	D7A

Risk-Adjusted Indicators

There is a big difference between Gentex Stock performing well and Gentex 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 Gentex'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
DNO	1.51	(0.03)	0.00	(1.02)	0.00	0.00	2.95	(4.03)	9.03
DNOA	1.18	(0.07)	0.00	(0.08)	0.00	0.00	2.31	(2.36)	10.34
D7A	1.62	(0.19)	0.00	(0.21)	0.00	0.00	2.90	(3.02)	19.07
BGTA	0.92	(0.14)	0.00	(0.41)	0.00	0.00	1.82	(2.35)	4.94
ASJA	2.63	(0.02)	0.00	(0.02)	3.51	(5.78)	10.34	(6.67)	23.21
MGA	1.72	0.13	0.06	0.21	2.12	(1.78)	5.21	(3.64)	11.40
LKQ1	1.12	(0.05)	0.00	(0.03)	0.00	0.00	2.72	(2.21)	7.42
CON	1.67	0.29	0.17	0.68	1.42	(2.13)	5.12	(2.89)	15.12
CON	1.60	0.27	0.16	1.37	1.33	(2.15)	3.71	(2.22)	14.84
4FG	1.70	0.26	0.12	1.75	1.73	(2.28)	4.96	(2.33)	13.07

Be your own money manager

Our tools can tell you how much better you can do entering a position in Gentex 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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Gentex Corporate Management

Elected by the shareholders, the Gentex's board of directors comprises two types of representatives: Gentex inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Gentex. The board's role is to monitor Gentex's management team and ensure that shareholders' interests are well served. Gentex'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, Gentex's outside directors are responsible for providing unbiased perspectives on the board's policies.

Fred Bauer	Chairman Founder	Profile
Matthew Chiodo	VP Officer	Profile
Joseph IV	VP Officer	Profile
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Neil Boehm	CTO Engineering	Profile
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Kevin Nash	CFO, Fin	Profile

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