Graco Correlations

GGG Stock

USD 87.20 1.01 1.17%

The current 90-days correlation between Graco Inc and Franklin Electric Co is 0.81 (i.e., Very poor diversification). The correlation of Graco 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.

Graco Correlation With Market

Very poor diversification

The correlation between Graco Inc and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Graco Inc and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Graco Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Graco 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 price.

Moving together with Graco Stock

0.79	BW	Babcock Wilcox Enter	Pair Corr
0.93	CR	Crane Company Earnings Call This Week	Pair Corr
0.97	IR	Ingersoll Rand Earnings Call This Week	Pair Corr
0.97	PH	Parker Hannifin	Pair Corr
0.68	FELE	Franklin Electric	Pair Corr
0.94	AME	Ametek Inc	Pair Corr
0.62	AOS	Smith AO Earnings Call This Week	Pair Corr
0.76	ATS	ATS Corporation	Pair Corr
0.94	CMI	Cummins	Pair Corr
0.93	CXT	Crane NXT	Pair Corr
0.77	CYD	China Yuchai Interna Downward Rally	Pair Corr
0.97	DCI	Donaldson	Pair Corr
0.98	DOV	Dover Earnings Call This Week	Pair Corr
0.88	EMR	Emerson Electric	Pair Corr
0.93	ETN	Eaton PLC Sell-off Trend	Pair Corr
0.92	FLS	Flowserve Earnings Call This Week	Pair Corr
0.83	GHM	Graham	Pair Corr
0.87	GRC	Gorman Rupp Earnings Call This Week	Pair Corr
0.79	IEX	IDEX Earnings Call This Week	Pair Corr
0.96	ITT	ITT Inc	Pair Corr
0.93	ITW	Illinois Tool Works	Pair Corr
0.71	KAI	Kadant Inc	Pair Corr
0.82	MIR	Mirion Technologies	Pair Corr
0.88	XMTR	Xometry	Pair Corr
0.75	NNE	Nano Nuclear Energy	Pair Corr
0.93	NPO	Enpro Industries	Pair Corr
0.96	PNR	Pentair PLC	Pair Corr
0.91	ROK	Rockwell Automation Earnings Call Tomorrow	Pair Corr
0.94	RRX	Regal Beloit Earnings Call This Week	Pair Corr
0.71	SMR	Nuscale Power Corp Aggressive Push	Pair Corr

Related Correlations Analysis

	FELE	AME	FLS	DCI	IEX	ITT	IR	CR	PH	PNR
FELE		0.46	0.72	0.53	0.38	0.57	0.65	0.51	0.63	0.63	FELE
AME	0.46		0.84	0.98	0.81	0.95	0.93	0.92	0.93	0.92	AME
FLS	0.72	0.84		0.87	0.75	0.88	0.91	0.82	0.94	0.91	FLS
DCI	0.53	0.98	0.87		0.83	0.96	0.97	0.93	0.96	0.96	DCI
IEX	0.38	0.81	0.75	0.83		0.71	0.76	0.68	0.74	0.71	IEX
ITT	0.57	0.95	0.88	0.96	0.71		0.96	0.97	0.98	0.98	ITT
IR	0.65	0.93	0.91	0.97	0.76	0.96		0.93	0.98	0.97	IR
CR	0.51	0.92	0.82	0.93	0.68	0.97	0.93		0.95	0.94	CR
PH	0.63	0.93	0.94	0.96	0.74	0.98	0.98	0.95		0.98	PH
PNR	0.63	0.92	0.91	0.96	0.71	0.98	0.97	0.94	0.98		PNR
	FELE	AME	FLS	DCI	IEX	ITT	IR	CR	PH	PNR

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Risk-Adjusted Indicators

There is a big difference between Graco Stock performing well and Graco 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 Graco'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
FELE	1.28	(0.14)	(0.08)	0.03	1.34	(1.54)	3.03	(1.94)	7.07
AME	0.93	0.02	0.03	0.15	0.80	(1.07)	1.79	(1.50)	6.17
FLS	1.79	0.14	0.11	0.22	1.82	(2.07)	3.81	(2.69)	12.59
DCI	0.87	0.02	0.02	0.15	0.76	(1.01)	2.59	(1.48)	6.30
IEX	1.16	(0.05)	0.00	0.10	1.15	(1.51)	3.54	(2.13)	8.03
ITT	0.97	0.17	0.20	0.29	0.54	(1.23)	3.14	(1.43)	6.72
IR	1.25	0.03	0.06	0.16	1.17	(1.39)	2.75	(2.09)	8.69
CR	1.20	0.25	0.21	0.34	0.96	(1.42)	3.38	(2.23)	9.75
PH	1.02	0.19	0.19	0.30	0.66	(1.14)	2.76	(1.75)	6.22
PNR	1.21	0.16	0.21	0.24	0.75	(1.48)	3.04	(1.85)	11.67

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Graco Correlations

Graco Correlation With Market

Very poor diversification

Moving together with Graco Stock

Related Correlations Analysis

Risk-Adjusted Indicators

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