Lincoln Electric Correlations

LECO Stock

USD 225.59 2.28 1.02%

The current 90-days correlation between Lincoln Electric Holdings and Donaldson is 0.83 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Lincoln Electric moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Lincoln Electric Holdings moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Lincoln Electric Correlation With Market

Poor diversification

The correlation between Lincoln Electric Holdings and DJI is 0.7 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Lincoln Electric Holdings and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Lincoln Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Lincoln Electric Holdings. 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 Lincoln Stock

0.72	EML	Eastern	Pair Corr
0.97	KMT	Kennametal	Pair Corr
0.88	RBC	RBC Bearings Earnings Call This Week	Pair Corr
0.88	SWK	Stanley Black Decker Earnings Call This Week	Pair Corr
0.96	TKR	Timken Company Earnings Call This Week	Pair Corr
0.95	J	Jacobs Solutions	Pair Corr
0.95	R	Ryder System Earnings Call Today	Pair Corr
0.83	DIST	Distoken Acquisition	Pair Corr
0.78	AL	Air Lease	Pair Corr
0.71	AP	Ampco Pittsburgh Downward Rally	Pair Corr
0.9	AZ	A2Z Smart Technologies	Pair Corr
0.9	BA	Boeing Earnings Call This Week	Pair Corr
0.95	BE	Bloom Energy Corp Earnings Call This Week	Pair Corr
0.82	BW	Babcock Wilcox Enter	Pair Corr
0.82	BZ	Kanzhun Ltd ADR	Pair Corr
0.65	CP	Canadian Pacific Railway Earnings Call This Week	Pair Corr
0.87	CR	Crane Company Earnings Call This Week	Pair Corr
0.88	CW	Curtiss Wright	Pair Corr
0.68	DE	Deere Company	Pair Corr
0.88	DY	Dycom Industries	Pair Corr
0.61	FA	First Advantage Corp	Pair Corr
0.91	GD	General Dynamics	Pair Corr
0.87	GE	GE Aerospace	Pair Corr
0.67	HY	Hyster Yale Materials	Pair Corr
0.91	IR	Ingersoll Rand Earnings Call This Week	Pair Corr
0.84	KE	Kimball Electronics	Pair Corr
0.85	NX	Quanex Building Products	Pair Corr

Moving against Lincoln Stock

0.79	NL	NL Industries	Pair Corr
0.51	GP	GreenPower Motor	Pair Corr
0.47	MG	Mistras Group Earnings Call This Week	Pair Corr

Related Correlations Analysis

	DCI	FELE	GGG	KMT	NDSN	SNA	TKR	TTC
DCI		0.6	0.91	0.86	0.87	0.55	0.92	0.72	DCI
FELE	0.6		0.62	0.67	0.55	0.22	0.75	0.38	FELE
GGG	0.91	0.62		0.92	0.81	0.6	0.91	0.75	GGG
KMT	0.86	0.67	0.92		0.88	0.51	0.95	0.6	KMT
NDSN	0.87	0.55	0.81	0.88		0.34	0.87	0.44	NDSN
SNA	0.55	0.22	0.6	0.51	0.34		0.52	0.72	SNA
TKR	0.92	0.75	0.91	0.95	0.87	0.52		0.62	TKR
TTC	0.72	0.38	0.75	0.6	0.44	0.72	0.62		TTC
	DCI	FELE	GGG	KMT	NDSN	SNA	TKR	TTC

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Risk-Adjusted Indicators

There is a big difference between Lincoln Stock performing well and Lincoln Electric 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 Lincoln Electric'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
DCI	0.89	(0.02)	0.00	0.18	0.66	(1.03)	2.59	(1.48)	6.30
FELE	1.28	(0.16)	(0.07)	0.08	1.29	(1.52)	3.03	(1.93)	7.07
GGG	0.94	0.20	(0.04)	(0.80)	0.89	(1.14)	1.97	(1.68)	6.28
KMT	1.39	0.48	0.19	(4.46)	0.97	(1.66)	3.33	(2.09)	8.75
NDSN	1.26	0.04	0.08	0.23	0.94	(1.38)	2.85	(1.89)	8.71
SNA	1.17	0.00	(0.10)	0.27	1.88	(1.24)	2.15	(2.47)	10.39
TKR	1.36	0.13	0.17	0.30	0.94	(1.67)	3.51	(1.74)	10.19
TTC	1.40	0.24	0.00	(0.88)	1.74	(1.49)	3.40	(2.44)	11.34

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