Barnes Correlations

B Stock

USD 46.82 0.08 0.17%

The correlation of Barnes 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.

Barnes Correlation With Market

Modest diversification

The correlation between Barnes Group and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Barnes Group 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 Barnes Group. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

Moving together with Barnes Stock

0.87	BW	Babcock Wilcox Enter	Pair Corr
0.62	CR	Crane Company	Pair Corr
0.78	IR	Ingersoll Rand	Pair Corr
0.73	PH	Parker Hannifin	Pair Corr
0.77	EPAC	Enerpac Tool Group	Pair Corr
0.78	ATS	ATS Corporation	Pair Corr
0.83	CMI	Cummins	Pair Corr
0.74	DCI	Donaldson Earnings Call This Week	Pair Corr
0.66	DOV	Dover	Pair Corr
0.69	EMR	Emerson Electric	Pair Corr
0.85	ETN	Eaton PLC	Pair Corr
0.85	FLS	Flowserve	Pair Corr
0.65	IEX	IDEX	Pair Corr
0.74	ITT	ITT Inc	Pair Corr
0.73	ITW	Illinois Tool Works	Pair Corr
0.8	JBT	John Bean Technologies	Pair Corr
0.92	MIR	Mirion Technologies	Pair Corr
0.79	MWA	Mueller Water Products Fiscal Year End 11th of December 2024	Pair Corr
0.82	NNE	Nano Nuclear Energy Trending	Pair Corr
0.8	PNR	Pentair PLC	Pair Corr
0.68	ROK	Rockwell Automation	Pair Corr
0.78	RRX	Regal Beloit	Pair Corr

Moving against Barnes Stock

0.71	RR	Richtech Robotics Class	Pair Corr
0.66	CVV	CVD Equipment	Pair Corr
0.44	AOS	Smith AO	Pair Corr
0.39	CXT	Crane NXT	Pair Corr
0.5	TNC	Tennant Company	Pair Corr
0.37	XYL	Xylem Inc	Pair Corr

Related Correlations Analysis

	AQUI	MSTSX	ABHYX	LBHIX	SCAXF	VIASP	RRTLX	OSHDF	JRBEX	70082LAB3
AQUI		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	AQUI
MSTSX	0.0		0.29	0.69	0.02	-0.11	0.87	-0.02	0.76	0.19	MSTSX
ABHYX	0.0	0.29		0.59	-0.03	-0.21	0.43	0.03	0.39	-0.52	ABHYX
LBHIX	0.0	0.69	0.59		-0.26	0.15	0.72	0.26	0.62	0.09	LBHIX
SCAXF	0.0	0.02	-0.03	-0.26		-0.78	-0.05	-1.0	0.01	-0.35	SCAXF
VIASP	0.0	-0.11	-0.21	0.15	-0.78		0.0	0.78	0.0	0.47	VIASP
RRTLX	0.0	0.87	0.43	0.72	-0.05	0.0		0.05	0.85	0.01	RRTLX
OSHDF	0.0	-0.02	0.03	0.26	-1.0	0.78	0.05		-0.01	0.35	OSHDF
JRBEX	0.0	0.76	0.39	0.62	0.01	0.0	0.85	-0.01		0.0	JRBEX
70082LAB3	0.0	0.19	-0.52	0.09	-0.35	0.47	0.01	0.35	0.0		70082LAB3
	AQUI	MSTSX	ABHYX	LBHIX	SCAXF	VIASP	RRTLX	OSHDF	JRBEX	70082LAB3

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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

RRTLX	+ 0.87	MSTSX
JRBEX	+ 0.85	RRTLX
OSHDF	+ 0.78	VIASP
JRBEX	+ 0.76	MSTSX
RRTLX	+ 0.72	LBHIX
LBHIX	+ 0.69	MSTSX

High negative correlations

OSHDF	- 1.0	SCAXF
VIASP	- 0.78	SCAXF
70082LAB3	- 0.52	ABHYX
70082LAB3	- 0.35	SCAXF
SCAXF	- 0.26	LBHIX
VIASP	- 0.21	ABHYX

Risk-Adjusted Indicators

There is a big difference between Barnes Stock performing well and Barnes 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 Barnes' 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
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MSTSX	0.48	(0.04)	(0.13)	0.06	0.50	(0.59)	1.21	(1.02)	2.80
ABHYX	0.17	0.02	(0.25)	(0.03)	0.26	(0.23)	0.34	(0.33)	1.91
LBHIX	0.11	0.01	(0.41)	0.46	0.00	(0.29)	0.24	(0.24)	0.96
SCAXF	0.70	(0.37)	0.00	(25.57)	0.00	0.00	0.00	0.00	23.47
VIASP	0.72	0.00	(0.02)	0.00	1.05	(0.80)	2.28	(1.15)	7.18
RRTLX	0.24	(0.02)	(0.31)	0.05	0.24	(0.27)	0.56	(0.56)	1.37
OSHDF	39.65	20.22	0.00	(24.88)	0.00	0.00	0.00	0.00	1,329
JRBEX	0.34	0.00	(0.25)	0.29	0.42	(0.37)	0.65	(0.86)	1.97
70082LAB3	1.00	0.07	(0.04)	(0.12)	2.25	(1.07)	1.75	(1.69)	24.27

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