Ingersoll Rand Correlations

IR Stock

USD 85.55 2.20 2.51%

The current 90-days correlation between Ingersoll Rand and IDEX Corporation is 0.81 (i.e., Very poor 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 0.78 (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 metropolitan statistical area.

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

Moving together with Ingersoll Stock

0.85	BW	Babcock Wilcox Enter	Pair Corr
0.93	CR	Crane Company	Pair Corr
0.99	PH	Parker Hannifin	Pair Corr
0.62	FELE	Franklin Electric Earnings Call This Week	Pair Corr
0.93	AME	Ametek Inc	Pair Corr
0.8	ATS	ATS Corporation	Pair Corr
0.97	CMI	Cummins	Pair Corr
0.96	CXT	Crane NXT	Pair Corr
0.81	CYD	China Yuchai Interna	Pair Corr
0.97	DCI	Donaldson	Pair Corr
0.98	DOV	Dover Earnings Call This Week	Pair Corr
0.94	EMR	Emerson Electric Sell-off Trend	Pair Corr
0.96	ETN	Eaton PLC	Pair Corr
0.92	FLS	Flowserve Sell-off Trend	Pair Corr
0.97	GGG	Graco Inc Earnings Call This Week	Pair Corr
0.87	GHM	Graham	Pair Corr
0.83	GRC	Gorman Rupp Earnings Call This Week	Pair Corr
0.77	IEX	IDEX	Pair Corr
0.96	ITT	ITT Inc	Pair Corr
0.93	ITW	Illinois Tool Works	Pair Corr
0.72	KAI	Kadant Inc	Pair Corr
0.87	MIR	Mirion Technologies	Pair Corr
0.9	XMTR	Xometry	Pair Corr
0.78	NNE	Nano Nuclear Energy	Pair Corr
0.96	NPO	Enpro Industries	Pair Corr
0.97	PNR	Pentair PLC Earnings Call This Week	Pair Corr
0.95	ROK	Rockwell Automation Earnings Call This Week	Pair Corr
0.96	RRX	Regal Beloit	Pair Corr
0.78	SMR	Nuscale Power Corp Trending	Pair Corr

Moving against Ingersoll Stock

0.31

MKDWW

MKDWELL Tech Warrants

Pair Corr

Related Correlations Analysis

	IEX	FLS	DCI	FELE	GGG	ITT	AME	DOV	ITW	ETN
IEX		0.76	0.84	0.36	0.8	0.72	0.81	0.81	0.71	0.64	IEX
FLS	0.76		0.88	0.69	0.92	0.89	0.85	0.95	0.91	0.9	FLS
DCI	0.84	0.88		0.5	0.97	0.97	0.98	0.96	0.87	0.91	DCI
FELE	0.36	0.69	0.5		0.65	0.53	0.44	0.66	0.75	0.61	FELE
GGG	0.8	0.92	0.97	0.65		0.96	0.95	0.98	0.93	0.93	GGG
ITT	0.72	0.89	0.97	0.53	0.96		0.95	0.95	0.87	0.97	ITT
AME	0.81	0.85	0.98	0.44	0.95	0.95		0.93	0.8	0.89	AME
DOV	0.81	0.95	0.96	0.66	0.98	0.95	0.93		0.94	0.94	DOV
ITW	0.71	0.91	0.87	0.75	0.93	0.87	0.8	0.94		0.89	ITW
ETN	0.64	0.9	0.91	0.61	0.93	0.97	0.89	0.94	0.89		ETN
	IEX	FLS	DCI	FELE	GGG	ITT	AME	DOV	ITW	ETN

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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	1.16	(0.04)	0.00	0.10	1.15	(1.51)	3.54	(2.13)	8.03
FLS	1.76	0.19	0.13	0.25	1.80	(2.04)	3.81	(2.69)	12.59
DCI	0.87	0.03	0.03	0.16	0.73	(1.01)	2.59	(1.48)	6.30
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
ITT	0.95	0.20	0.25	0.31	0.45	(1.23)	3.14	(1.39)	6.72
AME	0.94	0.02	0.02	0.15	0.83	(1.07)	1.79	(1.50)	6.17
DOV	0.99	0.07	0.08	0.19	0.81	(1.24)	2.06	(1.33)	7.11
ITW	0.89	0.01	0.01	0.14	0.84	(0.98)	2.27	(1.49)	5.91
ETN	1.28	0.32	0.29	0.40	0.85	(1.70)	3.94	(2.02)	6.65

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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