Trane Technologies Correlations
| 2IS Stock | EUR 377.20 3.00 0.80% |
The current 90-days correlation between Trane Technologies plc and Eaton PLC is -0.07 (i.e., Good 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.
Trane Technologies Correlation With Market
Average diversification
The correlation between Trane Technologies plc and DJI is 0.11 (i.e., Average 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.
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The ability to find closely correlated positions to Trane Technologies could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Trane Technologies 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 Trane Technologies - 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 Trane Technologies plc to buy it.
Moving together with Trane Stock
| 0.61 | ALD | Honeywell International | PairCorr |
| 0.8 | ILT | Illinois Tool Works | PairCorr |
| 0.84 | 3EC | Eaton PLC | PairCorr |
| 0.72 | EMR | Emerson Electric | PairCorr |
| 0.84 | PAR | Parker Hannifin | PairCorr |
| 0.68 | LIE | SUN LIFE FINANCIAL | PairCorr |
| 0.71 | ROW | TEXAS ROADHOUSE | PairCorr |
| 0.81 | WR1 | W R Berkley Earnings Call This Week | PairCorr |
| 0.68 | BN9 | Bank of New York Mellon | PairCorr |
| 0.72 | FAA | FABASOFT Dusseldorf | PairCorr |
Moving against Trane Stock
Related Correlations Analysis
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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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 3EC | 1.39 | 0.14 | 0.08 | (0.82) | 1.70 | 3.71 | 10.03 | |||
| ABJA | 1.58 | 0.03 | 0.02 | (0.15) | 1.58 | 3.88 | 11.52 | |||
| MMM | 1.10 | 0.17 | 0.16 | 1.18 | 0.98 | 2.32 | 7.97 | |||
| EMR | 1.23 | 0.26 | 0.20 | 41.39 | 1.08 | 2.34 | 19.70 | |||
| 2IS | 1.18 | 0.08 | 0.05 | 0.39 | 1.40 | 2.28 | 7.43 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Trane Technologies 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?
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Trane Technologies Corporate Management
Elected by the shareholders, the Trane Technologies' board of directors comprises two types of representatives: Trane Technologies inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Trane. The board's role is to monitor Trane Technologies' management team and ensure that shareholders' interests are well served. Trane Technologies' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Trane Technologies' outside directors are responsible for providing unbiased perspectives on the board's policies.
| Michael Lamach | Chairman CEO | Profile | |
| David Regnery | Ex Segments | Profile | |
| Susan Carter | VP CFO | Profile | |
| Marcia Avedon | Communications HR | Profile | |
| Maria Green | VP | Profile |