Ametek Correlations

AME Stock

USD 180.97 0.47 0.26%

The current 90-days correlation between Ametek Inc and IDEX Corporation is 0.86 (i.e., Very poor diversification). The correlation of Ametek 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.

Ametek Correlation With Market

Very poor diversification

The correlation between Ametek Inc and DJI is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ametek Inc and DJI in the same portfolio, assuming nothing else is changed.

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Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Ametek Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with Ametek Stock

0.82	BW	Babcock Wilcox Enter	Pair Corr
0.95	CR	Crane Company	Pair Corr
0.97	IR	Ingersoll Rand	Pair Corr
0.98	PH	Parker Hannifin	Pair Corr
0.61	AOS	Smith AO	Pair Corr
0.82	ATS	ATS Corporation	Pair Corr
0.92	CMI	Cummins	Pair Corr
0.95	CXT	Crane NXT	Pair Corr
0.72	CYD	China Yuchai Interna	Pair Corr
0.99	DCI	Donaldson	Pair Corr
0.97	DOV	Dover	Pair Corr
0.91	EMR	Emerson Electric	Pair Corr
0.96	ETN	Eaton PLC	Pair Corr
0.88	FLS	Flowserve	Pair Corr
0.94	GEV	GE Vernova LLC Sell-off Trend	Pair Corr
0.97	GGG	Graco Inc	Pair Corr
0.83	GHM	Graham	Pair Corr
0.91	GRC	Gorman Rupp	Pair Corr
0.85	IEX	IDEX	Pair Corr
0.98	ITT	ITT Inc	Pair Corr
0.9	ITW	Illinois Tool Works	Pair Corr
0.89	MIR	Mirion Technologies	Pair Corr
0.95	XMTR	Xometry	Pair Corr
0.78	NNE	Nano Nuclear Energy	Pair Corr
0.92	NPO	Enpro Industries	Pair Corr
0.98	PNR	Pentair PLC	Pair Corr
0.95	ROK	Rockwell Automation	Pair Corr
0.96	RRX	Regal Beloit	Pair Corr

Moving against Ametek Stock

0.47	FBGL	FBS Global Limited	Pair Corr
0.46	HCAI	Huachen AI Parking	Pair Corr

Related Correlations Analysis

	IEX	DOV	CR	GGG	FLS	ALLE	APH	ROP	FTV
IEX		0.86	0.76	0.84	0.78	0.79	0.7	0.62	0.88	IEX
DOV	0.86		0.93	0.99	0.9	0.9	0.91	0.59	0.88	DOV
CR	0.76	0.93		0.94	0.84	0.87	0.98	0.57	0.81	CR
GGG	0.84	0.99	0.94		0.88	0.9	0.92	0.59	0.86	GGG
FLS	0.78	0.9	0.84	0.88		0.92	0.82	0.67	0.72	FLS
ALLE	0.79	0.9	0.87	0.9	0.92		0.85	0.69	0.75	ALLE
APH	0.7	0.91	0.98	0.92	0.82	0.85		0.52	0.81	APH
ROP	0.62	0.59	0.57	0.59	0.67	0.69	0.52		0.58	ROP
FTV	0.88	0.88	0.81	0.86	0.72	0.75	0.81	0.58		FTV
	IEX	DOV	CR	GGG	FLS	ALLE	APH	ROP	FTV

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Risk-Adjusted Indicators

There is a big difference between Ametek Stock performing well and Ametek 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 Ametek'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
IEX	1.29	(0.05)	(0.01)	0.19	1.26	(1.64)	3.57	(2.18)	11.25
DOV	1.20	0.06	0.09	0.28	0.92	(1.51)	2.39	(1.90)	13.54
CR	1.42	0.18	0.14	0.36	1.22	(1.61)	4.68	(2.88)	16.22
GGG	1.06	0.03	0.01	0.26	0.82	(1.34)	2.31	(1.77)	9.21
FLS	2.11	0.45	0.05	(0.98)	2.52	(2.32)	5.43	(5.68)	19.20
ALLE	1.17	0.32	0.02	(1.02)	1.08	(1.23)	2.87	(2.31)	12.63
APH	1.34	0.52	0.46	0.67	0.23	(1.68)	4.42	(1.49)	13.26
ROP	1.04	0.03	0.00	0.15	0.00	0.00	1.56	(1.97)	9.88
FTV	1.35	(0.11)	(0.04)	0.14	1.68	(1.46)	2.78	(3.21)	14.17

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