Ametek Correlations

AME Stock

USD 195.76 2.43 1.26%

The current 90-days correlation between Ametek Inc and Flowserve is 0.2 (i.e., Modest diversification). The correlation of Ametek 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.

Ametek Correlation With Market

Weak diversification

The correlation between Ametek Inc and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ametek Inc and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Ametek Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with Ametek Stock

0.92	CR	Crane Company	Pair Corr
0.67	IR	Ingersoll Rand Sell-off Trend	Pair Corr
0.9	PH	Parker Hannifin	Pair Corr
0.87	EPAC	Enerpac Tool Group	Pair Corr
0.82	CMI	Cummins	Pair Corr
0.74	DCI	Donaldson Earnings Call This Week	Pair Corr
0.82	DOV	Dover	Pair Corr
0.92	EMR	Emerson Electric	Pair Corr
0.73	ETN	Eaton PLC	Pair Corr
0.81	FLS	Flowserve	Pair Corr
0.74	GGG	Graco Inc	Pair Corr
0.85	GHM	Graham	Pair Corr
0.8	GRC	Gorman Rupp	Pair Corr
0.91	IEX	IDEX	Pair Corr
0.61	ITT	ITT Inc	Pair Corr
0.82	ITW	Illinois Tool Works	Pair Corr
0.76	JBT	John Bean Technologies	Pair Corr
0.97	KAI	Kadant Inc	Pair Corr
0.71	MIR	Mirion Technologies	Pair Corr
0.86	MWA	Mueller Water Products Fiscal Year End 11th of December 2024	Pair Corr
0.94	XMTR	Xometry	Pair Corr
0.62	NNE	Nano Nuclear Energy Trending	Pair Corr
0.61	NPO	Enpro Industries	Pair Corr
0.76	PNR	Pentair PLC	Pair Corr
0.79	ROK	Rockwell Automation	Pair Corr
0.8	SMR	Nuscale Power Corp Buyout Trend	Pair Corr

Moving against Ametek Stock

0.75	CYD	China Yuchai Interna	Pair Corr
0.64	CVV	CVD Equipment	Pair Corr
0.58	AOS	Smith AO	Pair Corr
0.53	RR	Richtech Robotics Class	Pair Corr
0.79	IVAC	Intevac	Pair Corr
0.75	XYL	Xylem Inc	Pair Corr

Related Correlations Analysis

	GGG	FELE	FLS	DCI	ITW	PNR	PH	EMR	AOS	CXT
GGG		0.84	0.79	0.67	0.86	0.79	0.88	0.83	-0.06	-0.1	GGG
FELE	0.84		0.75	0.75	0.71	0.62	0.77	0.76	0.02	0.02	FELE
FLS	0.79	0.75		0.87	0.91	0.9	0.95	0.94	-0.42	-0.36	FLS
DCI	0.67	0.75	0.87		0.8	0.75	0.84	0.85	-0.39	-0.12	DCI
ITW	0.86	0.71	0.91	0.8		0.94	0.96	0.89	-0.32	-0.3	ITW
PNR	0.79	0.62	0.9	0.75	0.94		0.93	0.84	-0.39	-0.35	PNR
PH	0.88	0.77	0.95	0.84	0.96	0.93		0.96	-0.42	-0.24	PH
EMR	0.83	0.76	0.94	0.85	0.89	0.84	0.96		-0.49	-0.2	EMR
AOS	-0.06	0.02	-0.42	-0.39	-0.32	-0.39	-0.42	-0.49		0.09	AOS
CXT	-0.1	0.02	-0.36	-0.12	-0.3	-0.35	-0.24	-0.2	0.09		CXT
	GGG	FELE	FLS	DCI	ITW	PNR	PH	EMR	AOS	CXT

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

PH	+ 0.96	ITW
EMR	+ 0.96	PH
PH	+ 0.95	FLS
EMR	+ 0.94	FLS
PNR	+ 0.94	ITW
PH	+ 0.93	PNR

High negative correlations

AOS	- 0.49	EMR
AOS	- 0.42	PH
AOS	- 0.42	FLS
AOS	- 0.39	PNR
AOS	- 0.39	DCI
CXT	- 0.36	FLS

Risk-Adjusted Indicators

There is a big difference between Ametek Stock performing well and Ametek 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 Ametek'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
GGG	0.87	0.05	0.06	0.13	0.81	(0.99)	1.95	(1.47)	7.51
FELE	1.16	(0.06)	0.00	0.05	1.46	(1.34)	2.34	(1.54)	11.41
FLS	1.38	0.23	0.18	0.22	1.21	(1.55)	3.04	(2.22)	10.24
DCI	0.81	(0.03)	(0.04)	0.05	0.97	(0.91)	1.94	(1.67)	5.61
ITW	0.77	0.07	0.07	0.16	0.64	(0.97)	1.53	(1.33)	4.73
PNR	0.88	0.26	0.28	0.42	0.48	(1.10)	2.15	(1.08)	5.49
PH	0.90	0.14	0.16	0.18	0.83	(1.07)	2.18	(1.25)	11.35
EMR	1.10	0.21	0.20	0.21	0.83	(1.26)	2.15	(1.83)	9.12
AOS	1.10	(0.23)	0.00	(0.25)	0.00	0.00	2.11	(2.61)	10.28
CXT	1.24	(0.13)	(0.04)	0.00	2.04	(1.13)	3.17	(2.41)	10.37

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

2024 Macroaxis LLC