TechnipFMC Plc Correlations

T1EC34 Stock

BRL 176.03 7.48 4.44%

The current 90-days correlation between TechnipFMC plc and Jefferies Financial Group is -0.03 (i.e., Good diversification). The correlation of TechnipFMC Plc 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.

TechnipFMC Plc Correlation With Market

Good diversification

The correlation between TechnipFMC plc and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TechnipFMC plc and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to TechnipFMC Plc could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace TechnipFMC Plc 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 TechnipFMC Plc - 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 TechnipFMC plc to buy it.

Moving together with TechnipFMC Stock

0.71

B1KR34

Baker Hughes

Pair Corr

Moving against TechnipFMC Stock

0.86	BERK34	Berkshire Hathaway	Pair Corr
0.8	D2AR34	Darling Ingredients	Pair Corr
0.78	A1EN34	Alliant Energy	Pair Corr
0.7	DUKB34	Duke Energy	Pair Corr
0.66	C1BO34	Cboe Global Markets,	Pair Corr
0.56	MOVI3	Movida Participaes	Pair Corr
0.51	MCDC34	McDonalds	Pair Corr
0.46	R1OP34	Roper Technologies,	Pair Corr
0.44	BMKS3	Bicicletas Monark	Pair Corr
0.41	SNEC34	Sony Group	Pair Corr
0.32	MELK3	Melnick Even Desenvo	Pair Corr
0.31	HOND34	Honda Motor	Pair Corr
0.86	H1IG34	The Hartford Financial	Pair Corr
0.75	CPFE3	CPFL Energia SA	Pair Corr
0.72	EAIN34	Electronic Arts	Pair Corr
0.63	CINF34	Cincinnati Financial	Pair Corr
0.62	COLG34	Colgate Palmolive	Pair Corr
0.58	A1TM34	Atmos Energy	Pair Corr
0.57	LEVE3	MAHLE Metal Leve	Pair Corr
0.46	ASAI3	Sendas Distribuidora	Pair Corr
0.42	CPLE6	Companhia Paranaense	Pair Corr
0.42	BPAC11	Banco BTG Pactual	Pair Corr
0.42	RANI3	Irani Papel e	Pair Corr
0.4	CCRO3	CCR SA	Pair Corr
0.39	SAPR4	Companhia de Saneamento	Pair Corr
0.37	HYPE3	Hypera SA	Pair Corr

Related Correlations Analysis

	J1EF34	SSFO34	E1DU34	Z1OM34	C1HT34	P1DT34	TRAD3
J1EF34		0.93	0.71	0.75	-0.58	0.79	-0.85	J1EF34
SSFO34	0.93		0.68	0.83	-0.54	0.67	-0.78	SSFO34
E1DU34	0.71	0.68		0.64	-0.18	0.49	-0.68	E1DU34
Z1OM34	0.75	0.83	0.64		-0.47	0.4	-0.53	Z1OM34
C1HT34	-0.58	-0.54	-0.18	-0.47		-0.56	0.44	C1HT34
P1DT34	0.79	0.67	0.49	0.4	-0.56		-0.74	P1DT34
TRAD3	-0.85	-0.78	-0.68	-0.53	0.44	-0.74		TRAD3
	J1EF34	SSFO34	E1DU34	Z1OM34	C1HT34	P1DT34	TRAD3

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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

SSFO34	+ 0.93	J1EF34
Z1OM34	+ 0.83	SSFO34
P1DT34	+ 0.79	J1EF34
Z1OM34	+ 0.75	J1EF34
E1DU34	+ 0.71	J1EF34
E1DU34	+ 0.68	SSFO34

High negative correlations

TRAD3	- 0.85	J1EF34
TRAD3	- 0.78	SSFO34
TRAD3	- 0.74	P1DT34
TRAD3	- 0.68	E1DU34
C1HT34	- 0.58	J1EF34
P1DT34	- 0.56	C1HT34

Risk-Adjusted Indicators

There is a big difference between TechnipFMC Stock performing well and TechnipFMC Plc 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 TechnipFMC Plc'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
J1EF34	2.55	(0.48)	0.00	2.35	0.00	0.00	5.57	(7.50)	19.28
SSFO34	1.99	(0.28)	0.00	(5.00)	0.00	0.00	4.57	(4.16)	11.87
E1DU34	2.01	0.03	0.04	(0.35)	2.41	(2.42)	4.29	(4.00)	17.01
Z1OM34	1.72	(0.06)	0.00	(0.41)	0.00	0.00	3.69	(3.44)	13.42
C1HT34	1.34	0.56	0.26	8.62	0.00	(9.40)	1.88	(0.75)	33.59
P1DT34	0.45	(0.15)	0.00	2.34	0.00	0.00	0.86	(1.13)	8.84
TRAD3	3.14	0.56	0.20	(1.28)	2.99	(3.74)	7.92	(4.59)	24.82

Be your own money manager

Our tools can tell you how much better you can do entering a position in TechnipFMC Plc 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.

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