Steel Partners Correlations

SPLP Stock

USD 43.99 2.49 6.00%

The current 90-days correlation between Steel Partners Holdings and Compass Diversified is 0.04 (i.e., Significant diversification). The correlation of Steel Partners 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Steel Partners Correlation With Market

Average diversification

The correlation between Steel Partners Holdings and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Steel Partners Holdings and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Steel Partners Holdings. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving against Steel Stock

0.34

CODI-PB

Compass Diversified

Pair Corr

Related Correlations Analysis

	CODI-PC	CODI-PB	CODI-PA	TRC	SPLP-PA	MATW	VMI	GFF	BBU	CODI
CODI-PC		0.86	0.74	0.04	-0.27	-0.32	-0.19	-0.69	-0.48	-0.42	CODI-PC
CODI-PB	0.86		0.93	0.27	-0.59	-0.31	-0.49	-0.83	-0.73	-0.62	CODI-PB
CODI-PA	0.74	0.93		0.51	-0.73	-0.37	-0.69	-0.86	-0.81	-0.7	CODI-PA
TRC	0.04	0.27	0.51		-0.62	-0.1	-0.7	-0.31	-0.43	-0.27	TRC
SPLP-PA	-0.27	-0.59	-0.73	-0.62		0.1	0.81	0.55	0.86	0.56	SPLP-PA
MATW	-0.32	-0.31	-0.37	-0.1	0.1		0.43	0.64	0.23	0.64	MATW
VMI	-0.19	-0.49	-0.69	-0.7	0.81	0.43		0.61	0.77	0.76	VMI
GFF	-0.69	-0.83	-0.86	-0.31	0.55	0.64	0.61		0.73	0.83	GFF
BBU	-0.48	-0.73	-0.81	-0.43	0.86	0.23	0.77	0.73		0.75	BBU
CODI	-0.42	-0.62	-0.7	-0.27	0.56	0.64	0.76	0.83	0.75		CODI
	CODI-PC	CODI-PB	CODI-PA	TRC	SPLP-PA	MATW	VMI	GFF	BBU	CODI

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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

CODI-PA	+ 0.93	CODI-PB
CODI-PB	+ 0.86	CODI-PC
BBU	+ 0.86	SPLP-PA
CODI	+ 0.83	GFF
VMI	+ 0.81	SPLP-PA
BBU	+ 0.77	VMI

High negative correlations

GFF	- 0.86	CODI-PA
GFF	- 0.83	CODI-PB
BBU	- 0.81	CODI-PA
SPLP-PA	- 0.73	CODI-PA
BBU	- 0.73	CODI-PB
VMI	- 0.7	TRC

Risk-Adjusted Indicators

There is a big difference between Steel Stock performing well and Steel Partners 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 Steel Partners' 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
CODI-PC	0.30	(0.05)	0.00	0.48	0.00	0.00	0.74	(0.65)	2.46
CODI-PB	0.26	(0.06)	0.00	1.30	0.00	0.00	0.53	(0.58)	2.07
CODI-PA	0.34	(0.11)	0.00	1.56	0.00	0.00	0.71	(0.79)	2.36
TRC	1.34	(0.35)	0.00	(0.09)	0.00	0.00	2.60	(3.12)	14.35
SPLP-PA	0.13	0.04	(0.34)	(2.91)	0.00	(0.19)	0.38	(0.21)	1.05
MATW	1.84	0.07	0.09	0.15	1.86	(2.27)	3.20	(3.75)	24.86
VMI	1.26	0.20	0.15	0.29	1.02	(1.35)	2.65	(2.18)	12.58
GFF	1.74	0.20	0.14	0.24	1.74	(1.99)	3.14	(3.11)	22.84
BBU	1.53	0.23	0.13	0.33	1.42	(1.67)	3.19	(2.48)	8.49
CODI	1.21	0.01	0.02	0.13	1.28	(1.29)	2.52	(1.94)	9.24

Steel Partners Corporate Management

Joseph JD	Chief Officer	Profile
Gordon Walker	Senior Vice President	Profile
Rory Yanchek	President of MTI	Profile
Ryan OHerrin	Chief Officer	Profile

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