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.

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

0.78	CR	Crane Company	Pair Corr
0.84	IR	Ingersoll Rand	Pair Corr
0.84	PH	Parker Hannifin	Pair Corr
0.88	AME	Ametek Inc	Pair Corr
0.72	AOS	Smith AO	Pair Corr
0.61	ATS	ATS Corporation	Pair Corr
0.86	CMI	Cummins	Pair Corr
0.8	CXT	Crane NXT	Pair Corr
0.88	DCI	Donaldson	Pair Corr
0.87	DOV	Dover	Pair Corr
0.73	EMR	Emerson Electric	Pair Corr
0.78	ETN	Eaton PLC	Pair Corr
0.96	FLS	Flowserve	Pair Corr
0.73	GEV	GE Vernova LLC Sell-off Trend	Pair Corr
0.89	GGG	Graco Inc	Pair Corr
0.95	GRC	Gorman Rupp	Pair Corr
0.89	IEX	IDEX	Pair Corr
0.84	ITT	ITT Inc	Pair Corr
0.85	ITW	Illinois Tool Works	Pair Corr
0.67	MIR	Mirion Technologies	Pair Corr
0.82	XMTR	Xometry	Pair Corr
0.79	NPO	Enpro Industries	Pair Corr
0.86	PNR	Pentair PLC	Pair Corr
0.76	ROK	Rockwell Automation	Pair Corr
0.84	RRX	Regal Beloit	Pair Corr

Moving against Chart Stock

0.35

FBGL

FBS Global Limited

Pair Corr

Related Correlations Analysis

	BCE	ACU	EWCZ	PG	RSVR	UL	ZH	IRDM
BCE		0.28	0.29	-0.37	0.29	-0.22	0.42	0.55	BCE
ACU	0.28		0.14	0.12	0.37	0.06	0.19	0.27	ACU
EWCZ	0.29	0.14		-0.06	0.61	0.15	0.2	0.75	EWCZ
PG	-0.37	0.12	-0.06		-0.08	0.42	-0.16	-0.37	PG
RSVR	0.29	0.37	0.61	-0.08		0.06	0.25	0.65	RSVR
UL	-0.22	0.06	0.15	0.42	0.06		0.04	-0.06	UL
ZH	0.42	0.19	0.2	-0.16	0.25	0.04		0.4	ZH
IRDM	0.55	0.27	0.75	-0.37	0.65	-0.06	0.4		IRDM
	BCE	ACU	EWCZ	PG	RSVR	UL	ZH	IRDM

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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

IRDM	+ 0.75	EWCZ
IRDM	+ 0.65	RSVR
RSVR	+ 0.61	EWCZ
IRDM	+ 0.55	BCE
ZH	+ 0.42	BCE
UL	+ 0.42	PG

High negative correlations

IRDM	- 0.37	PG
PG	- 0.37	BCE
UL	- 0.22	BCE
ZH	- 0.16	PG
RSVR	- 0.08	PG
IRDM	- 0.06	UL

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
BCE	1.29	0.08	(0.01)	(0.21)	1.73	(1.40)	2.19	(3.27)	9.37
ACU	1.78	0.11	0.04	0.27	1.79	(2.18)	3.68	(3.06)	8.60
EWCZ	3.74	0.54	0.16	0.44	3.44	(4.77)	10.08	(5.37)	26.29
PG	1.01	(0.13)	0.00	(0.25)	0.00	0.00	2.06	(2.15)	6.71
RSVR	1.64	0.02	0.00	0.10	2.07	(1.68)	3.20	(3.51)	12.77
UL	0.97	0.02	(0.03)	0.19	1.28	(1.11)	2.63	(1.85)	8.71
ZH	2.40	0.17	0.03	(1.07)	3.22	(2.43)	6.29	(5.25)	11.54
IRDM	1.93	0.21	0.08	0.29	2.33	(2.10)	4.59	(4.88)	15.67

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