Crane NXT Correlations

CXT Stock

57.15 0.11 0.19%

The current 90-days correlation between Crane NXT and Crane Company is 0.49 (i.e., Very weak diversification). The correlation of Crane NXT 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.

Crane NXT Correlation With Market

Very weak diversification

The correlation between Crane NXT Co and DJI is 0.55 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Crane NXT Co and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Crane Stock

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

Moving together with Crane Stock

0.89	BW	Babcock Wilcox Enter	Pair Corr
0.93	CR	Crane Company Earnings Call This Week	Pair Corr
0.96	IR	Ingersoll Rand Earnings Call This Week	Pair Corr
0.95	PH	Parker Hannifin	Pair Corr
0.93	AME	Ametek Inc	Pair Corr
0.85	ATS	ATS Corporation	Pair Corr
0.95	CMI	Cummins	Pair Corr
0.78	CYD	China Yuchai Interna	Pair Corr
0.95	DCI	Donaldson	Pair Corr
0.93	DOV	Dover Earnings Call This Week	Pair Corr
0.92	EMR	Emerson Electric	Pair Corr
0.92	ETN	Eaton PLC	Pair Corr
0.82	FLS	Flowserve Earnings Call This Week	Pair Corr
0.93	GGG	Graco Inc Earnings Call Today	Pair Corr
0.87	GHM	Graham	Pair Corr
0.76	GRC	Gorman Rupp Earnings Call This Week	Pair Corr
0.73	IEX	IDEX Earnings Call This Week	Pair Corr
0.95	ITT	ITT Inc	Pair Corr
0.83	ITW	Illinois Tool Works	Pair Corr
0.73	KAI	Kadant Inc	Pair Corr
0.89	MIR	Mirion Technologies	Pair Corr
0.9	XMTR	Xometry	Pair Corr
0.83	NNE	Nano Nuclear Energy	Pair Corr
0.97	NPO	Enpro Industries	Pair Corr
0.93	PNR	Pentair PLC	Pair Corr
0.96	ROK	Rockwell Automation Earnings Call Tomorrow	Pair Corr
0.97	RRX	Regal Beloit Earnings Call This Week	Pair Corr
0.83	SMR	Nuscale Power Corp Aggressive Push	Pair Corr

Moving against Crane Stock

0.31	MKDWW	MKDWELL Tech Warrants	Pair Corr
0.38	MWA	Mueller Water Products	Pair Corr

Related Correlations Analysis

	CR	SXI	DCI	CSW	ESAB	FBIN	CNM	BMN
CR		0.88	0.93	-0.28	0.66	0.2	0.86	0.83	CR
SXI	0.88		0.81	-0.13	0.62	0.2	0.71	0.72	SXI
DCI	0.93	0.81		-0.08	0.8	0.32	0.79	0.67	DCI
CSW	-0.28	-0.13	-0.08		0.35	0.32	-0.52	-0.62	CSW
ESAB	0.66	0.62	0.8	0.35		0.48	0.46	0.25	ESAB
FBIN	0.2	0.2	0.32	0.32	0.48		0.22	-0.03	FBIN
CNM	0.86	0.71	0.79	-0.52	0.46	0.22		0.86	CNM
BMN	0.83	0.72	0.67	-0.62	0.25	-0.03	0.86		BMN
	CR	SXI	DCI	CSW	ESAB	FBIN	CNM	BMN

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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

DCI	+ 0.93	CR
SXI	+ 0.88	CR
CNM	+ 0.86	CR
BMN	+ 0.86	CNM
BMN	+ 0.83	CR
DCI	+ 0.81	SXI

High negative correlations

BMN	- 0.62	CSW
CNM	- 0.52	CSW
CSW	- 0.28	CR
CSW	- 0.13	SXI
CSW	- 0.08	DCI
BMN	- 0.03	FBIN

Risk-Adjusted Indicators

There is a big difference between Crane Stock performing well and Crane NXT 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 Crane NXT'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
CR	1.20	0.25	0.21	0.34	0.96	(1.42)	3.38	(2.23)	9.75
SXI	1.62	0.18	0.01	(1.20)	1.75	(1.73)	3.09	(3.05)	12.94
DCI	0.87	0.02	0.02	0.15	0.76	(1.01)	2.59	(1.48)	6.30
CSW	1.56	(0.03)	0.00	0.29	0.00	0.00	3.32	(3.15)	10.03
ESAB	1.25	0.01	0.02	0.14	1.27	(1.54)	3.16	(2.35)	8.05
FBIN	1.98	(0.18)	(0.02)	0.04	2.57	(2.00)	3.73	(3.18)	17.31
CNM	1.43	0.22	0.16	0.33	1.12	(1.69)	3.20	(2.21)	12.44
BMN	0.43	0.06	(0.13)	(9.29)	0.39	(0.50)	1.07	(0.85)	4.53

Crane NXT Corporate Management

Bianca Shardelow	Controller VP	Profile
Jason Feldman	Vice Relations	Profile
Jennifer Kartono	Senior Officer	Profile
Matt Roache	Vice Relations	Profile

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