Chart Industries Correlations

GTLS Stock

USD 171.73 0.27 0.16%

The current 90-days correlation between Chart Industries and Donaldson is 0.55 (i.e., Very weak 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

Very weak diversification

The correlation between Chart Industries and DJI is 0.55 (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.

Build AI portfolio with Chart Stock

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

0.77	CR	Crane Company	Pair Corr
0.85	IR	Ingersoll Rand	Pair Corr
0.87	PH	Parker Hannifin	Pair Corr
0.83	AME	Ametek Inc	Pair Corr
0.76	AOS	Smith AO Earnings Call This Week	Pair Corr
0.86	CMI	Cummins	Pair Corr
0.77	CXT	Crane NXT	Pair Corr
0.85	DCI	Donaldson	Pair Corr
0.9	DOV	Dover Earnings Call This Week	Pair Corr
0.71	EMR	Emerson Electric Sell-off Trend	Pair Corr
0.8	ETN	Eaton PLC	Pair Corr
0.95	FLS	Flowserve Sell-off Trend	Pair Corr
0.87	GGG	Graco Inc Earnings Call This Week	Pair Corr
0.91	GRC	Gorman Rupp Earnings Call This Week	Pair Corr
0.87	IEX	IDEX	Pair Corr
0.82	ITT	ITT Inc	Pair Corr
0.81	ITW	Illinois Tool Works	Pair Corr
0.62	MIR	Mirion Technologies	Pair Corr
0.8	XMTR	Xometry	Pair Corr
0.77	NPO	Enpro Industries	Pair Corr
0.83	PNR	Pentair PLC Earnings Call Tomorrow	Pair Corr
0.74	ROK	Rockwell Automation Earnings Call This Week	Pair Corr
0.81	RRX	Regal Beloit	Pair Corr

Related Correlations Analysis

	CXT	DCI	CIR	ITT	FELE	GGG	IEX	IR	JBT	HLIO
CXT		0.96	0.0	0.95	0.48	0.93	0.75	0.96	0.0	0.94	CXT
DCI	0.96		0.0	0.97	0.5	0.97	0.84	0.97	0.0	0.9	DCI
CIR	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	CIR
ITT	0.95	0.97	0.0		0.53	0.96	0.72	0.96	0.0	0.91	ITT
FELE	0.48	0.5	0.0	0.53		0.65	0.36	0.62	0.0	0.65	FELE
GGG	0.93	0.97	0.0	0.96	0.65		0.8	0.97	0.0	0.93	GGG
IEX	0.75	0.84	0.0	0.72	0.36	0.8		0.77	0.0	0.7	IEX
IR	0.96	0.97	0.0	0.96	0.62	0.97	0.77		0.0	0.95	IR
JBT	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	JBT
HLIO	0.94	0.9	0.0	0.91	0.65	0.93	0.7	0.95	0.0		HLIO
	CXT	DCI	CIR	ITT	FELE	GGG	IEX	IR	JBT	HLIO

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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

ITT	+ 0.97	DCI
GGG	+ 0.97	DCI
IR	+ 0.97	DCI
IR	+ 0.97	GGG
DCI	+ 0.96	CXT
IR	+ 0.96	CXT

High negative correlations

HLIO	- 0.0	JBT
JBT	- 0.0	IR
JBT	- 0.0	IEX
JBT	- 0.0	GGG
JBT	- 0.0	FELE
JBT	- 0.0	ITT

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
CXT	1.52	0.21	0.14	0.30	1.21	(1.79)	3.94	(3.05)	10.71
DCI	0.87	0.03	0.03	0.16	0.73	(1.01)	2.59	(1.48)	6.30
CIR	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ITT	0.95	0.20	0.25	0.31	0.45	(1.23)	3.14	(1.39)	6.72
FELE	1.27	(0.12)	(0.07)	0.03	1.32	(1.54)	3.03	(1.94)	7.07
GGG	0.94	(0.02)	0.00	0.11	0.93	(1.14)	1.98	(1.68)	6.27
IEX	1.16	(0.04)	0.00	0.10	1.15	(1.51)	3.54	(2.13)	8.03
IR	1.23	0.06	0.08	0.17	1.13	(1.39)	2.75	(2.09)	8.63
JBT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HLIO	2.23	0.27	0.15	0.28	2.05	(2.57)	5.01	(3.54)	15.33

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