Generac Holdings (GNRC) has a beta of 1.19 based on a linear regression model of the monthly returns of the Vanguard S&P 500 Index ETF (VOO) and Generac Holdings. The company's residential sales slowdown has pushed the stock lower over the past five months. The stock has dropped 55% compared to a 7% drop for the Vanguard S&P 500 Index ETF over the past year. This massive underperformance of the stock has led to a drop in the monthly return correlation of the Vanguard ETF and Generac Holdings.

** Exhibit 1: A Generac Generator**

Source: Generac Holdings Inc. |

*(Exhibit 2)*.

**Exhibit 2: Monthly Returns of the Vanguard S&P 500 Index ETF and Generac Holdings**

Source: Data Provided by IEX Cloud, Author Calculations on Microsoft Excel, Graph Created on RStudio |

*(Exhibit 3)*.

__Note: Click on each image to see an enlarged version.__**Exhibit 3: Beta of Various stocks in the consumer staples, consumer discretionary, and industrial sectors.**

Source: Data Provided by IEX Cloud, Author Calculations using Microsoft Excel and RStudio |

*(Exhibit 4)*.

**Exhibit 4: Generac Holdings Monthly Return Statistics [June 2019 - January 2023]**

Source: Data Provided by IEX Cloud, Author Calculations Using Microsoft Excel |

Here are the return statistics for the Vanguard S&P 500 Index ETF during the same period

*(Exhibit 5)*.

**Exhibit 5: Vanguard S&P 500 Index ETF Monthly Return Statistics [June 2019 - January 2023]**

Source: Data Provided by IEX Cloud, Author Calculations Using Microsoft Excel |

*(Exhibit 6)*.

**Exhibit 6: Monthly Return Correlation of the Vanguard S&P 500 Index ETF and Generac Holdings**