Chart Industries Correlations

GTLS Stock  USD 163.62  10.01  5.77%   
The current 90-days correlation between Chart Industries and Zhihu Inc ADR is 0.29 (i.e., Modest 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Chart Industries Correlation With Market

Significant diversification

The correlation between Chart Industries and DJI is 0.04 (i.e., Significant 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.
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Chart Industries. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.
For more information on how to buy Chart Stock please use our How to Invest in Chart Industries guide.

Moving together with Chart Stock

  0.78CR Crane CompanyPairCorr
  0.84IR Ingersoll RandPairCorr
  0.84PH Parker HannifinPairCorr
  0.88AME Ametek IncPairCorr
  0.72AOS Smith AOPairCorr
  0.61ATS ATS CorporationPairCorr
  0.86CMI CumminsPairCorr
  0.8CXT Crane NXTPairCorr
  0.88DCI DonaldsonPairCorr
  0.87DOV DoverPairCorr
  0.73EMR Emerson ElectricPairCorr
  0.78ETN Eaton PLCPairCorr
  0.96FLS FlowservePairCorr
  0.73GEV GE Vernova LLC Sell-off TrendPairCorr
  0.89GGG Graco IncPairCorr
  0.95GRC Gorman RuppPairCorr
  0.89IEX IDEXPairCorr
  0.84ITT ITT IncPairCorr
  0.85ITW Illinois Tool WorksPairCorr
  0.67MIR Mirion TechnologiesPairCorr
  0.82XMTR XometryPairCorr
  0.79NPO Enpro IndustriesPairCorr
  0.86PNR Pentair PLCPairCorr
  0.76ROK Rockwell AutomationPairCorr
  0.84RRX Regal BeloitPairCorr

Moving against Chart Stock

  0.35FBGL FBS Global LimitedPairCorr

Related Correlations Analysis

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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   
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IRDMRSVR
RSVREWCZ
IRDMBCE
ZHBCE
ULPG
  
High negative correlations   
IRDMPG
PGBCE
ULBCE
ZHPG
RSVRPG
IRDMUL

Risk-Adjusted Indicators

There is a big difference between Chart 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.