Preformed Line Products Co (PLPC) — Stock Correlations & Overview
Over the past year, PLPC has moved most closely with PRN, MAKX, HVAC. Explore the stocks most correlated and inversely correlated with PLPC below, along with its price, financials, and company profile.
Stocks correlated with PLPC
Correlation of daily returns. Higher positive values move with PLPC; negative values move opposite it. Informational only, not investment advice.
Most correlated with PLPC
| Symbol | Company | Correlation |
|---|---|---|
| PRN | Invesco Exchange-Traded Fund Trust Invesco Dorsey Wright Industrials Momentum ETF | 0.66 |
| MAKX | ProShares S&P Kensho Smart Factories ETF | 0.65 |
| HVAC | AdvisorShares HVAC and Industrials ETF | 0.65 |
| AIRR | First Trust RBA American Industrial Renaissance ETF | 0.63 |
| GRID | First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund | 0.63 |
Most inversely correlated with PLPC
| Symbol | Company | Correlation |
|---|---|---|
| SOXS | Direxion Daily Semiconductor Bear 3X ETF | -0.63 |
| HIBS | Direxion Daily S&P 500 High Beta Bear 3X ETF | -0.60 |
| TSXD | Direxion Daily Semiconductors Top 5 Bear 2X ETF | -0.59 |
| BTAL | AGF U.S. Market Neutral Anti-Beta Fund | -0.58 |
| TECS | Direxion Daily Technology Bear 3x ETF | -0.57 |
Frequently asked questions about PLPC correlations
- Which stocks are most correlated with PLPC?
- Based on one year of daily returns, the stocks most correlated with Preformed Line Products Co (PLPC) are PRN (0.66), MAKX (0.65) and HVAC (0.65). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with PLPC?
- Over the past year, the stocks most inversely correlated with Preformed Line Products Co (PLPC) are SOXS (-0.63), HIBS (-0.60) and TSXD (-0.59). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these PLPC correlations calculated?
- We compute the correlation of daily returns between PLPC and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
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