Allegion PLC Correlations
| ALLE Stock | USD 166.03 0.36 0.22% |
The correlation of Allegion PLC 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.
Allegion PLC Correlation With Market
Very weak diversification
The correlation between Allegion PLC and DJI is 0.5 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Allegion PLC and DJI in the same portfolio, assuming nothing else is changed.
Moving together with Allegion Stock
| 0.67 | OC | Owens Corning | PairCorr |
| 0.63 | GWA | GWA Group | PairCorr |
| 0.81 | AOS | Smith AO | PairCorr |
| 0.78 | AWI | Armstrong World Indu | PairCorr |
| 0.63 | GFF | Griffon | PairCorr |
| 0.74 | LII | Lennox International | PairCorr |
| 0.69 | MAS | Masco | PairCorr |
| 0.67 | KAJARIACER | Kajaria Ceramics | PairCorr |
| 0.79 | WXM | WF International | PairCorr |
| 0.85 | EVERESTIND | Everest Industries | PairCorr |
| 0.65 | IIIN | Insteel Industries | PairCorr |
| 0.78 | JCTC | Jewett Cameron Trading Earnings Call This Week | PairCorr |
Moving against Allegion Stock
| 0.61 | JCI | Johnson Controls Int | PairCorr |
| 0.6 | 002791 | Guangdong Kinlong | PairCorr |
| 0.47 | MPP | Metro Performance Glass | PairCorr |
| 0.76 | 603828 | Suzhou Kelida Bldg | PairCorr |
| 0.64 | 600202 | Harbin Air Conditioning | PairCorr |
| 0.61 | NXR | Norcros Plc | PairCorr |
| 0.59 | 000619 | Wuhu Conch Profiles | PairCorr |
Related Correlations Analysis
| 0.0 | 0.0 | 0.0 | 0.0 | 1.0 | CSGU | ||
| 0.0 | -0.27 | 0.0 | -0.46 | 0.0 | TPSRF | ||
| 0.0 | -0.27 | 0.0 | 0.06 | 0.0 | B | ||
| 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | PIUTQ | ||
| 0.0 | -0.46 | 0.06 | 0.0 | 0.0 | HUSIF | ||
| 1.0 | 0.0 | 0.0 | 0.0 | 0.0 | TODM | ||
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
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Risk-Adjusted Indicators
There is a big difference between Allegion Stock performing well and Allegion PLC 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 Allegion PLC'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| CSGU | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| TPSRF | 0.65 | (0.02) | 0.00 | (0.04) | 0.00 | 0.00 | 28.03 | |||
| B | 2.21 | 0.67 | 0.21 | 0.74 | 2.43 | 5.16 | 19.00 | |||
| PIUTQ | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| HUSIF | 3.76 | 0.24 | 0.04 | 0.57 | 4.13 | 9.09 | 22.05 | |||
| TODM | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |