Chart Industries Correlations
| GTLS-PB Preferred Stock | 62.46 0.48 0.76% |
The current 90-days correlation between Chart Industries and Babcock Wilcox Enterprises is -0.01 (i.e., Good diversification). The correlation of Chart Industries 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.
Chart Industries Correlation With Market
Very weak diversification
The correlation between Chart Industries and DJI is 0.59 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Chart Industries and DJI in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to Chart Industries could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Chart Industries when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Chart Industries - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Chart Industries to buy it.
Moving together with Chart Preferred Stock
| 0.77 | CR | Crane Company | PairCorr |
| 0.85 | IR | Ingersoll Rand | PairCorr |
| 0.86 | PH | Parker Hannifin | PairCorr |
| 0.83 | AME | Ametek Inc | PairCorr |
| 0.77 | AOS | Smith AO Earnings Call This Week | PairCorr |
| 0.86 | CMI | Cummins | PairCorr |
| 0.77 | CXT | Crane NXT | PairCorr |
| 0.85 | DCI | Donaldson | PairCorr |
| 0.9 | DOV | Dover Earnings Call This Week | PairCorr |
| 0.7 | EMR | Emerson Electric Sell-off Trend | PairCorr |
| 0.79 | ETN | Eaton PLC | PairCorr |
| 0.94 | FLS | Flowserve Sell-off Trend | PairCorr |
| 0.69 | GEV | GE Vernova LLC Earnings Call This Week | PairCorr |
| 0.87 | GGG | Graco Inc Earnings Call This Week | PairCorr |
| 0.92 | GRC | Gorman Rupp Earnings Call This Week | PairCorr |
| 0.88 | IEX | IDEX | PairCorr |
| 0.81 | ITT | ITT Inc | PairCorr |
| 0.81 | ITW | Illinois Tool Works | PairCorr |
| 0.61 | MIR | Mirion Technologies | PairCorr |
| 0.8 | XMTR | Xometry | PairCorr |
| 0.76 | NPO | Enpro Industries | PairCorr |
| 0.82 | PNR | Pentair PLC Earnings Call This Week | PairCorr |
| 0.73 | ROK | Rockwell Automation Earnings Call This Week | PairCorr |
| 0.81 | RRX | Regal Beloit | PairCorr |
| 0.8 | SXI | Standex International | PairCorr |
| 0.62 | SYM | Symbotic | PairCorr |
| 0.83 | THR | Thermon Group Holdings | PairCorr |
Related Correlations Analysis
| 0.38 | 0.92 | 0.79 | 0.51 | BW-PA | ||
| 0.38 | 0.57 | 0.68 | 0.03 | FELE | ||
| 0.92 | 0.57 | 0.87 | 0.45 | GHM | ||
| 0.79 | 0.68 | 0.87 | 0.19 | MS-PP | ||
| 0.51 | 0.03 | 0.45 | 0.19 | NSA-PA | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Risk-Adjusted Indicators
There is a big difference between Chart Preferred Stock performing well and Chart Industries 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 Chart Industries' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| BW-PA | 7.42 | 1.92 | 0.25 | 1.69 | 6.69 | 16.32 | 88.78 | |||
| FELE | 1.27 | (0.12) | (0.07) | 0.03 | 1.32 | 3.03 | 7.07 | |||
| GHM | 2.04 | 0.67 | 0.46 | 0.59 | 0.96 | 6.01 | 13.36 | |||
| MS-PP | 0.34 | 0.04 | (0.16) | 0.35 | 0.33 | 0.93 | 2.25 | |||
| NSA-PA | 0.69 | 0.03 | (0.08) | 0.36 | 0.87 | 1.33 | 5.74 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Chart Industries without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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