Trane Technologies Correlations

TT Stock

USD 408.50 15.70 3.70%

The current 90-days correlation between Trane Technologies plc and Johnson Controls International is 0.34 (i.e., Weak diversification). The correlation of Trane Technologies 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.

Trane Technologies Correlation With Market

Weak diversification

The correlation between Trane Technologies plc and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Trane Technologies plc and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Trane Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Trane Technologies plc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

Moving together with Trane Stock

0.79	CARR	Carrier Global Corp Earnings Call This Week	Pair Corr
0.74	CSTE	Caesarstone	Pair Corr

Moving against Trane Stock

0.82	ZWS	Zurn Elkay Water Earnings Call This Week	Pair Corr
0.74	AWI	Armstrong World Indu Earnings Call This Week	Pair Corr
0.69	WMS	Advanced Drainage Systems	Pair Corr
0.57	600202	Harbin Air Conditioning	Pair Corr
0.48	WXM	WF International	Pair Corr
0.4	603221	Zhangjiagang Elegant Home	Pair Corr
0.39	PATK	Patrick Industries Earnings Call Next Week	Pair Corr
0.37	JELD	Jeld Wen Holding	Pair Corr
0.73	SPG	Simon Property Group	Pair Corr
0.66	FXNC	First National Corp Earnings Call Next Week	Pair Corr
0.65	ALLE	Allegion PLC Earnings Call Tomorrow	Pair Corr
0.61	ESE	ESCO Technologies	Pair Corr
0.58	TV	Grupo Televisa SAB Earnings Call Tomorrow	Pair Corr
0.56	UNIF	U I Financial	Pair Corr
0.38	002205	XinJiang GuoTong Pipeline	Pair Corr
0.36	NIHK	Video River Networks	Pair Corr

Related Correlations Analysis

	JCI	PH	WM	GD	NOC	CARR	EMR	MMM	CTAS	ADP
JCI		0.33	-0.52	0.47	0.17	-0.05	0.08	0.32	-0.43	-0.43	JCI
PH	0.33		-0.46	0.5	0.17	-0.34	-0.31	0.76	-0.37	-0.19	PH
WM	-0.52	-0.46		-0.69	-0.37	0.68	0.51	-0.39	0.91	0.86	WM
GD	0.47	0.5	-0.69		0.82	-0.75	-0.53	0.47	-0.78	-0.72	GD
NOC	0.17	0.17	-0.37	0.82		-0.67	-0.53	0.17	-0.58	-0.53	NOC
CARR	-0.05	-0.34	0.68	-0.75	-0.67		0.82	-0.35	0.79	0.8	CARR
EMR	0.08	-0.31	0.51	-0.53	-0.53	0.82		-0.41	0.62	0.59	EMR
MMM	0.32	0.76	-0.39	0.47	0.17	-0.35	-0.41		-0.31	-0.27	MMM
CTAS	-0.43	-0.37	0.91	-0.78	-0.58	0.79	0.62	-0.31		0.9	CTAS
ADP	-0.43	-0.19	0.86	-0.72	-0.53	0.8	0.59	-0.27	0.9		ADP
	JCI	PH	WM	GD	NOC	CARR	EMR	MMM	CTAS	ADP

Please upgrade your account to get full access to Macroaxis premium features

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

CTAS	+ 0.91	WM
ADP	+ 0.9	CTAS
ADP	+ 0.86	WM
NOC	+ 0.82	GD
EMR	+ 0.82	CARR
ADP	+ 0.8	CARR

High negative correlations

CTAS	- 0.78	GD
CARR	- 0.75	GD
ADP	- 0.72	GD
GD	- 0.69	WM
CARR	- 0.67	NOC
CTAS	- 0.58	NOC

Risk-Adjusted Indicators

There is a big difference between Trane Stock performing well and Trane Technologies 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 Trane Technologies' 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
JCI	1.03	(0.02)	(0.02)	0.05	1.57	(1.06)	1.93	(1.62)	9.11
PH	1.03	0.01	0.01	0.08	1.31	(0.99)	2.41	(2.19)	7.04
WM	0.81	(0.08)	0.00	(1.15)	0.00	0.00	1.29	(1.63)	5.53
GD	0.68	0.14	0.19	0.22	0.39	(0.86)	1.82	(1.03)	8.94
NOC	0.87	0.22	0.16	1.17	0.66	(1.01)	1.70	(1.63)	12.28
CARR	1.43	(0.48)	0.00	(0.20)	0.00	0.00	3.10	(2.84)	14.79
EMR	1.15	(0.24)	0.00	(0.07)	0.00	0.00	1.91	(2.57)	7.73
MMM	1.23	0.03	0.04	0.10	1.42	(1.35)	2.39	(2.70)	6.54
CTAS	0.87	(0.25)	0.00	(0.21)	0.00	0.00	1.62	(1.98)	5.17
ADP	0.78	(0.15)	0.00	(0.11)	0.00	0.00	1.01	(1.63)	3.71

Trane Technologies Corporate Management

Heather Howlett	Chief Accounting Officer, Vice President	Profile
Richard Swift	Lead Independent Director	Profile
Zachary Nagle	Vice Relations	Profile
Donald Simmons	Group Americas	Profile
Mauro Atalla	Chief 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