Generac Holdings Correlations

GNRC Stock

USD 153.11 3.37 2.25%

The current 90-days correlation between Generac Holdings and Dover is 0.78 (i.e., Poor diversification). The correlation of Generac Holdings 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.

Generac Holdings Correlation With Market

Poor diversification

The correlation between Generac Holdings and DJI is 0.7 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Generac Holdings and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Generac Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Generac Holdings. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

For information on how to trade Generac Stock refer to our How to Trade Generac Stock guide.

Moving together with Generac Stock

0.76	BW	Babcock Wilcox Enter	Pair Corr
0.86	CR	Crane Company	Pair Corr
0.91	IR	Ingersoll Rand	Pair Corr
0.92	PH	Parker Hannifin	Pair Corr
0.77	FELE	Franklin Electric Earnings Call This Week	Pair Corr
0.77	AME	Ametek Inc	Pair Corr
0.77	ATS	ATS Corporation	Pair Corr
0.86	CMI	Cummins	Pair Corr
0.84	CXT	Crane NXT	Pair Corr
0.94	CYD	China Yuchai Interna	Pair Corr
0.82	DCI	Donaldson	Pair Corr
0.9	DOV	Dover Earnings Call This Week	Pair Corr
0.96	EMR	Emerson Electric Sell-off Trend	Pair Corr
0.95	ETN	Eaton PLC	Pair Corr
0.87	FLS	Flowserve Sell-off Trend	Pair Corr
0.89	GGG	Graco Inc Earnings Call This Week	Pair Corr
0.93	GHM	Graham	Pair Corr
0.65	GRC	Gorman Rupp Earnings Call This Week	Pair Corr
0.88	ITT	ITT Inc	Pair Corr
0.91	ITW	Illinois Tool Works	Pair Corr
0.68	KAI	Kadant Inc	Pair Corr
0.84	MIR	Mirion Technologies	Pair Corr
0.74	XMTR	Xometry	Pair Corr
0.81	NNE	Nano Nuclear Energy	Pair Corr
0.89	NPO	Enpro Industries	Pair Corr
0.91	PNR	Pentair PLC Earnings Call This Week	Pair Corr
0.88	ROK	Rockwell Automation Earnings Call This Week	Pair Corr
0.85	RRX	Regal Beloit	Pair Corr
0.79	SMR	Nuscale Power Corp Trending	Pair Corr

Moving against Generac Stock

0.39	CSW	CSW Industrials, Symbol Change	Pair Corr
0.32	WFF	WF Holding Limited	Pair Corr

Related Correlations Analysis

	EMR	ETN	PH	ITW	DOV	CR	FLS	HI	MIDD	IEX
EMR		0.98	0.95	0.88	0.91	0.93	0.84	0.27	0.76	0.55	EMR
ETN	0.98		0.98	0.89	0.94	0.94	0.9	0.24	0.81	0.64	ETN
PH	0.95	0.98		0.92	0.98	0.95	0.94	0.26	0.89	0.75	PH
ITW	0.88	0.89	0.92		0.94	0.83	0.91	0.53	0.76	0.71	ITW
DOV	0.91	0.94	0.98	0.94		0.91	0.95	0.38	0.89	0.81	DOV
CR	0.93	0.94	0.95	0.83	0.91		0.83	0.18	0.84	0.7	CR
FLS	0.84	0.9	0.94	0.91	0.95	0.83		0.34	0.83	0.76	FLS
HI	0.27	0.24	0.26	0.53	0.38	0.18	0.34		0.13	0.27	HI
MIDD	0.76	0.81	0.89	0.76	0.89	0.84	0.83	0.13		0.86	MIDD
IEX	0.55	0.64	0.75	0.71	0.81	0.7	0.76	0.27	0.86		IEX
	EMR	ETN	PH	ITW	DOV	CR	FLS	HI	MIDD	IEX

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Risk-Adjusted Indicators

There is a big difference between Generac Stock performing well and Generac Holdings 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 Generac Holdings' 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
EMR	1.10	0.39	0.38	0.46	0.50	(1.34)	2.92	(1.33)	7.65
ETN	1.28	0.32	0.29	0.40	0.85	(1.70)	3.94	(2.02)	6.65
PH	1.00	0.21	0.22	0.32	0.59	(1.14)	2.76	(1.75)	6.22
ITW	0.89	0.01	0.01	0.14	0.84	(0.98)	2.27	(1.49)	5.91
DOV	0.99	0.07	0.08	0.19	0.81	(1.24)	2.06	(1.33)	7.11
CR	1.18	0.29	0.23	0.36	0.93	(1.40)	3.38	(2.23)	9.75
FLS	1.76	0.19	0.13	0.25	1.80	(2.04)	3.81	(2.69)	12.59
HI	2.69	(0.17)	(0.01)	0.05	3.32	(2.80)	6.04	(5.25)	16.63
MIDD	1.44	0.00	0.02	0.13	1.41	(1.76)	3.28	(2.29)	10.71
IEX	1.16	(0.04)	0.00	0.10	1.15	(1.51)	3.54	(2.13)	8.03

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