Gorman Rupp Correlations

GRC Stock

USD 37.09 0.13 0.35%

The current 90-days correlation between Gorman Rupp and Standex International is -0.12 (i.e., Good diversification). The correlation of Gorman Rupp 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.

Gorman Rupp Correlation With Market

Poor diversification

The correlation between Gorman Rupp and DJI is 0.74 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gorman Rupp and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Gorman Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Gorman Rupp. 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 Gorman Stock refer to our How to Trade Gorman Stock guide.

Moving together with Gorman Stock

0.77	CR	Crane Company Earnings Call This Week	Pair Corr
0.83	IR	Ingersoll Rand Earnings Call This Week	Pair Corr
0.82	PH	Parker Hannifin	Pair Corr
0.85	AME	Ametek Inc	Pair Corr
0.74	AOS	Smith AO Earnings Call This Week	Pair Corr
0.81	CMI	Cummins	Pair Corr
0.76	CXT	Crane NXT	Pair Corr
0.87	DCI	Donaldson	Pair Corr
0.86	DOV	Dover Earnings Call This Week	Pair Corr
0.71	ETN	Eaton PLC	Pair Corr
0.84	FLS	Flowserve Earnings Call This Week	Pair Corr
0.87	GGG	Graco Inc Earnings Call Today	Pair Corr
0.94	IEX	IDEX Earnings Call This Week	Pair Corr
0.78	ITT	ITT Inc	Pair Corr
0.78	ITW	Illinois Tool Works	Pair Corr
0.8	XMTR	Xometry	Pair Corr
0.74	NPO	Enpro Industries	Pair Corr
0.79	PNR	Pentair PLC	Pair Corr
0.69	ROK	Rockwell Automation Earnings Call Tomorrow	Pair Corr
0.79	RRX	Regal Beloit Earnings Call This Week	Pair Corr

Related Correlations Analysis

	SXI	FELE	OFLX	CYD	IEX	WTS	DCI	EPAC	CR	LXFR
SXI		0.54	0.73	0.78	0.66	0.83	0.81	0.03	0.88	0.89	SXI
FELE	0.54		0.77	0.66	0.38	0.52	0.53	-0.36	0.51	0.57	FELE
OFLX	0.73	0.77		0.72	0.61	0.82	0.82	-0.04	0.75	0.79	OFLX
CYD	0.78	0.66	0.72		0.31	0.75	0.68	-0.41	0.82	0.72	CYD
IEX	0.66	0.38	0.61	0.31		0.74	0.83	0.44	0.68	0.81	IEX
WTS	0.83	0.52	0.82	0.75	0.74		0.97	0.14	0.93	0.93	WTS
DCI	0.81	0.53	0.82	0.68	0.83	0.97		0.21	0.93	0.94	DCI
EPAC	0.03	-0.36	-0.04	-0.41	0.44	0.14	0.21		0.07	0.15	EPAC
CR	0.88	0.51	0.75	0.82	0.68	0.93	0.93	0.07		0.94	CR
LXFR	0.89	0.57	0.79	0.72	0.81	0.93	0.94	0.15	0.94		LXFR
	SXI	FELE	OFLX	CYD	IEX	WTS	DCI	EPAC	CR	LXFR

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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	+ 0.97	WTS
LXFR	+ 0.94	DCI
LXFR	+ 0.94	CR
CR	+ 0.93	WTS
LXFR	+ 0.93	WTS
CR	+ 0.93	DCI

High negative correlations

EPAC	- 0.41	CYD
EPAC	- 0.36	FELE
EPAC	- 0.04	OFLX

Risk-Adjusted Indicators

There is a big difference between Gorman Stock performing well and Gorman Rupp 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 Gorman Rupp'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
SXI	1.62	0.18	0.01	(1.20)	1.75	(1.73)	3.09	(3.05)	12.94
FELE	1.28	(0.14)	(0.08)	0.03	1.34	(1.54)	3.03	(1.94)	7.07
OFLX	2.22	(0.08)	0.02	0.09	2.19	(2.71)	7.01	(4.19)	14.80
CYD	2.67	0.81	0.15	(2.08)	3.32	(2.81)	7.61	(4.95)	18.42
IEX	1.16	(0.05)	0.00	0.10	1.15	(1.51)	3.54	(2.13)	8.03
WTS	1.23	0.18	0.20	0.28	0.78	(1.52)	2.92	(1.92)	13.45
DCI	0.87	0.02	0.02	0.15	0.76	(1.01)	2.59	(1.48)	6.30
EPAC	1.36	(0.25)	0.00	(0.09)	0.00	0.00	3.08	(2.88)	10.80
CR	1.20	0.25	0.21	0.34	0.96	(1.42)	3.38	(2.23)	9.75
LXFR	1.70	0.07	0.06	0.19	1.60	(1.94)	3.99	(2.70)	10.90

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