Johnson Controls Correlations

JCI Stock

USD 108.30 0.03 0.03%

The current 90-days correlation between Johnson Controls Int and Carrier Global Corp is 0.64 (i.e., Poor diversification). The correlation of Johnson Controls 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.

Johnson Controls Correlation With Market

Very weak diversification

The correlation between Johnson Controls International and DJI is 0.51 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Johnson Controls International and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Johnson Stock

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

Moving together with Johnson Stock

0.92	TT	Trane Technologies plc Earnings Call This Week	Pair Corr
0.72	APT	Alpha Pro Tech	Pair Corr
0.84	AWI	Armstrong World Indu Earnings Call This Week	Pair Corr
0.84	JBI	Janus International	Pair Corr
0.61	MAS	Masco	Pair Corr
0.75	PPIH	Perma Pipe Internati	Pair Corr
0.79	ROCK	Gibraltar Industries Earnings Call This Week	Pair Corr
0.93	ARLO	Arlo Technologies	Pair Corr
0.78	TILE	Interface Earnings Call Next Week	Pair Corr
0.81	CARR	Carrier Global Corp Earnings Call This Week	Pair Corr
0.68	B	Barrick Mining Symbol Change	Pair Corr
0.76	AG	First Majestic Silver	Pair Corr
0.78	AU	AngloGold Ashanti plc	Pair Corr
0.94	CE	Celanese	Pair Corr

Moving against Johnson Stock

0.55	AAON	AAON Inc Earnings Call Next Week	Pair Corr
0.38	JELD	Jeld Wen Holding	Pair Corr
0.32	AZEK	Azek Company	Pair Corr
0.87	CSTE	Caesarstone	Pair Corr

Related Correlations Analysis

	CARR	LII	MAS	CSL	TT	FBIN	BLDR	NX	JELD	AZEK
CARR		0.82	0.79	0.57	0.91	0.24	0.38	0.48	-0.23	-0.13	CARR
LII	0.82		0.82	0.87	0.64	0.56	0.67	0.14	0.23	0.18	LII
MAS	0.79	0.82		0.69	0.64	0.63	0.66	0.51	0.01	0.06	MAS
CSL	0.57	0.87	0.69		0.35	0.66	0.65	0.08	0.34	0.32	CSL
TT	0.91	0.64	0.64	0.35		-0.06	0.18	0.39	-0.43	-0.34	TT
FBIN	0.24	0.56	0.63	0.66	-0.06		0.73	0.1	0.67	0.47	FBIN
BLDR	0.38	0.67	0.66	0.65	0.18	0.73		0.29	0.55	0.41	BLDR
NX	0.48	0.14	0.51	0.08	0.39	0.1	0.29		-0.24	-0.14	NX
JELD	-0.23	0.23	0.01	0.34	-0.43	0.67	0.55	-0.24		0.72	JELD
AZEK	-0.13	0.18	0.06	0.32	-0.34	0.47	0.41	-0.14	0.72		AZEK
	CARR	LII	MAS	CSL	TT	FBIN	BLDR	NX	JELD	AZEK

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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

TT	+ 0.91	CARR
CSL	+ 0.87	LII
LII	+ 0.82	CARR
MAS	+ 0.82	LII
MAS	+ 0.79	CARR
BLDR	+ 0.73	FBIN

High negative correlations

JELD	- 0.43	TT
AZEK	- 0.34	TT
JELD	- 0.24	NX
JELD	- 0.23	CARR
AZEK	- 0.14	NX
AZEK	- 0.13	CARR

Risk-Adjusted Indicators

There is a big difference between Johnson Stock performing well and Johnson Controls 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 Johnson Controls' 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
CARR	1.17	0.24	0.15	0.50	0.85	(1.39)	2.81	(1.73)	15.41
LII	1.28	0.15	0.11	0.34	1.25	(1.45)	3.15	(2.01)	8.38
MAS	1.44	(0.14)	(0.01)	0.12	1.51	(1.62)	2.88	(2.23)	15.75
CSL	1.20	(0.05)	(0.03)	0.16	1.29	(1.44)	3.13	(2.71)	8.38
TT	0.96	0.32	0.32	0.77	0.00	(1.29)	2.82	(1.09)	10.22
FBIN	1.96	(0.25)	(0.04)	0.06	2.53	(2.01)	3.73	(3.18)	17.31
BLDR	2.40	(0.10)	0.00	0.14	2.46	(2.69)	6.57	(3.93)	12.69
NX	2.61	(0.18)	0.06	0.14	2.34	(3.33)	6.46	(4.16)	15.60
JELD	3.55	(0.36)	(0.01)	0.05	5.69	(3.79)	8.31	(5.76)	29.71
AZEK	1.04	0.20	(0.01)	47.11	0.81	(1.37)	2.39	(1.60)	4.54

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