Parker Hannifin Correlations

PAR Stock

EUR 611.40 10.60 1.70%

The current 90-days correlation between Parker Hannifin and Honeywell International is 0.13 (i.e., Average diversification). The correlation of Parker Hannifin 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.

Parker Hannifin Correlation With Market

Good diversification

The correlation between Parker Hannifin and DJI is -0.16 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Parker Hannifin and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Parker Hannifin could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Parker Hannifin when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Parker Hannifin - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Parker Hannifin to buy it.

Moving together with Parker Stock

0.9	ALD	Honeywell International Earnings Call Tomorrow	Pair Corr
0.86	SND	Schneider Electric	Pair Corr
0.78	ILT	Illinois Tool Works Earnings Call This Week	Pair Corr
0.94	3EC	Eaton PLC	Pair Corr
0.8	ABJA	ABB	Pair Corr
0.87	MMM	3M Company	Pair Corr
0.88	EMR	Emerson Electric	Pair Corr
0.88	2IS	Trane Technologies plc Earnings Call This Week	Pair Corr
0.77	KBIA	KB Financial Group Earnings Call Tomorrow	Pair Corr
0.78	OIX	ORIX	Pair Corr
0.79	OIXA	Orix Corp Ads	Pair Corr
0.64	W8V	Bank of China	Pair Corr
0.77	KGHA	KGHM Polska Miedz	Pair Corr
0.82	HEI	Heidelberg Materials	Pair Corr
0.9	E908	Lyxor 1	Pair Corr
0.87	DBPE	Xtrackers LevDAX	Pair Corr

Moving against Parker Stock

0.88	DBPD	Xtrackers ShortDAX	Pair Corr
0.66	TKDA	Takeda Pharmaceutical Earnings Call This Week	Pair Corr

Related Correlations Analysis

	ALD	SND	ILT	3EC	ABJA	MMM	EMR	PAR	2IS
ALD		0.82	0.7	0.89	0.79	0.79	0.85	0.9	0.88	ALD
SND	0.82		0.63	0.87	0.78	0.76	0.84	0.86	0.76	SND
ILT	0.7	0.63		0.67	0.58	0.81	0.59	0.78	0.6	ILT
3EC	0.89	0.87	0.67		0.85	0.81	0.97	0.94	0.81	3EC
ABJA	0.79	0.78	0.58	0.85		0.74	0.79	0.8	0.81	ABJA
MMM	0.79	0.76	0.81	0.81	0.74		0.7	0.87	0.81	MMM
EMR	0.85	0.84	0.59	0.97	0.79	0.7		0.88	0.73	EMR
PAR	0.9	0.86	0.78	0.94	0.8	0.87	0.88		0.88	PAR
2IS	0.88	0.76	0.6	0.81	0.81	0.81	0.73	0.88		2IS
	ALD	SND	ILT	3EC	ABJA	MMM	EMR	PAR	2IS

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Parker Stock performing well and Parker Hannifin 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 Parker Hannifin'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
ALD	1.13	0.23	0.07	1.56	0.99	(1.31)	2.43	(1.85)	9.87
SND	1.45	0.23	0.02	(1.92)	1.43	(1.65)	5.57	(2.32)	10.54
ILT	0.87	0.18	(0.04)	(0.39)	0.85	(0.97)	1.92	(1.64)	6.14
3EC	1.33	0.46	0.27	(285.57)	0.66	(1.76)	3.99	(1.46)	8.07
ABJA	1.57	0.34	0.12	1.96	1.19	(2.22)	4.07	(1.96)	15.11
MMM	1.25	0.25	0.03	(0.72)	1.24	(1.41)	3.18	(2.36)	10.27
EMR	1.22	0.55	0.34	(5.90)	0.52	(1.51)	3.25	(1.30)	7.29
PAR	1.38	0.38	0.10	(0.91)	1.26	(1.64)	3.30	(2.35)	10.36
2IS	1.12	0.38	0.25	2.36	0.60	(1.47)	2.93	(1.51)	11.09

Be your own money manager

Our tools can tell you how much better you can do entering a position in Parker Hannifin without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

Did you try this?

Run Piotroski F Score Now

Piotroski F Score

Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals

All Next

Launch Module

Parker Hannifin Corporate Management

Elected by the shareholders, the Parker Hannifin's board of directors comprises two types of representatives: Parker Hannifin inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Parker. The board's role is to monitor Parker Hannifin's management team and ensure that shareholders' interests are well served. Parker Hannifin's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Parker Hannifin's outside directors are responsible for providing unbiased perspectives on the board's policies.

Aidan Gormley	Director Branding	Profile
Lee Banks	Vice Pres	Profile
Jennifer Parmentier	Chief Officer	Profile
Mark Czaja	VP Officer	Profile
Michael OHara	VP Marketing	Profile
Robin Davenport	VP Fin	Profile
Dinu Parel	VP Officer	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC