Ingersoll Rand Correlations

IR Stock

USD 78.48 2.51 3.10%

The current 90-days correlation between Ingersoll Rand and IDEX Corporation is 0.47 (i.e., Very weak diversification). The correlation of Ingersoll Rand 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.

Ingersoll Rand Correlation With Market

Poor diversification

The correlation between Ingersoll Rand and DJI is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ingersoll Rand and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Ingersoll Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Ingersoll Rand. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in real.

To learn how to invest in Ingersoll Stock, please use our How to Invest in Ingersoll Rand guide.

Moving together with Ingersoll Stock

0.72	TRNR	Interactive Strength	Pair Corr
0.61	APVO	Aptevo Therapeutics	Pair Corr

Moving against Ingersoll Stock

0.73	PYTCF	Playtech plc	Pair Corr
0.42	ACSAY	ACS Actividades De	Pair Corr
0.39	CYCC	Cyclacel Pharmaceuticals Symbol Change	Pair Corr
0.37	TR	Tootsie Roll Industries	Pair Corr
0.36	SLDP	Solid Power Trending	Pair Corr
0.35	AMRX	Amneal Pharmaceuticals,	Pair Corr
0.34	PBNAF	Pembina Pipeline	Pair Corr
0.31	DOMH	Dominari Holdings	Pair Corr
0.74	FARO	FARO Technologies	Pair Corr
0.58	HD	Home Depot	Pair Corr
0.58	AGPYY	Agile Group Holdings	Pair Corr
0.51	GEV	GE Vernova LLC	Pair Corr
0.43	FNMFO	Federal National Mortgage	Pair Corr
0.37	NTIP	Network 1 Technologies	Pair Corr
0.36	DSVSF	Discovery Metals Corp	Pair Corr
0.32	94986RYP0	US94986RYP09	Pair Corr

Related Correlations Analysis

	IEX	FLS	DCI	FELE	GGG	ITT	AME	DOV	ITW	ETN
IEX		-0.06	-0.58	-0.51	0.62	-0.68	-0.68	0.79	-0.1	0.27	IEX
FLS	-0.06		0.28	0.1	0.01	0.31	0.4	0.02	0.25	0.32	FLS
DCI	-0.58	0.28		0.6	-0.22	0.93	0.77	-0.75	0.5	-0.11	DCI
FELE	-0.51	0.1	0.6		0.02	0.56	0.68	-0.33	0.73	-0.45	FELE
GGG	0.62	0.01	-0.22	0.02		-0.36	-0.11	0.68	0.46	-0.33	GGG
ITT	-0.68	0.31	0.93	0.56	-0.36		0.82	-0.84	0.4	0.03	ITT
AME	-0.68	0.4	0.77	0.68	-0.11	0.82		-0.58	0.62	-0.28	AME
DOV	0.79	0.02	-0.75	-0.33	0.68	-0.84	-0.58		0.01	-0.06	DOV
ITW	-0.1	0.25	0.5	0.73	0.46	0.4	0.62	0.01		-0.45	ITW
ETN	0.27	0.32	-0.11	-0.45	-0.33	0.03	-0.28	-0.06	-0.45		ETN
	IEX	FLS	DCI	FELE	GGG	ITT	AME	DOV	ITW	ETN

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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	+ 0.93	DCI
AME	+ 0.82	ITT
DOV	+ 0.79	IEX
AME	+ 0.77	DCI
ITW	+ 0.73	FELE
AME	+ 0.68	FELE

High negative correlations

DOV	- 0.84	ITT
DOV	- 0.75	DCI
AME	- 0.68	IEX
ITT	- 0.68	IEX
DOV	- 0.58	AME
DCI	- 0.58	IEX

Risk-Adjusted Indicators

There is a big difference between Ingersoll Stock performing well and Ingersoll Rand 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 Ingersoll Rand'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
IEX	1.22	(0.25)	0.00	(0.07)	0.00	0.00	2.70	(2.40)	13.62
FLS	1.07	(0.11)	0.00	(0.02)	0.00	0.00	2.36	(2.15)	6.36
DCI	0.90	0.17	0.20	0.22	0.61	(1.08)	2.28	(1.47)	11.07
FELE	1.05	(0.05)	(0.02)	0.03	1.16	(1.14)	2.75	(1.90)	7.02
GGG	0.81	(0.17)	0.00	(0.07)	0.00	0.00	2.00	(1.67)	5.18
ITT	1.06	0.12	0.12	0.17	0.93	(1.25)	2.54	(1.63)	9.97
AME	0.82	(0.05)	(0.06)	0.02	0.86	(0.92)	1.91	(1.35)	6.43
DOV	0.93	(0.30)	0.00	(0.14)	0.00	0.00	1.54	(1.88)	6.07
ITW	0.76	(0.11)	0.00	(0.02)	0.00	0.00	1.82	(1.46)	4.91
ETN	1.19	0.06	0.01	0.19	1.73	(1.22)	2.18	(2.11)	12.27

Ingersoll Rand Corporate Management

Matthew Fort	Global Relations	Profile
Matthew Emmerich	Senior Officer	Profile
Peter Stavros	Independent Chairman of the Board	Profile
Kathryn Freytag	VP Officer	Profile
Kate Keene	Senior Vice President of Human Resources, Talent, Diversity, Equity and Inclusion	Profile

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