Carrier Global Correlations

CARR Stock

USD 76.01 1.51 2.03%

The current 90-days correlation between Carrier Global Corp and Johnson Controls International is 0.47 (i.e., Very weak diversification). The correlation of Carrier Global 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.

Carrier Global Correlation With Market

Very weak diversification

The correlation between Carrier Global Corp and DJI is 0.52 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Carrier Global Corp 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 Carrier Global Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Carrier Stock

0.67	TT	Trane Technologies plc	Pair Corr
0.76	FBIN	Fortune Brands Innov	Pair Corr
0.81	CSL	Carlisle Companies	Pair Corr
0.86	MAS	Masco	Pair Corr
0.7	SWIM	Latham Group	Pair Corr
0.91	BLDR	Builders FirstSource	Pair Corr

Moving against Carrier Stock

0.58	AEHL	Antelope Enterprise	Pair Corr
0.57	AIRJW	Montana Technologies Symbol Change	Pair Corr
0.6	HI	Hillenbrand	Pair Corr
0.48	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr

Related Correlations Analysis

	JCI	LII	MAS	CSL	OC	TT	FBIN	NX	JELD	AZEK
JCI		0.81	0.2	0.66	0.91	0.92	-0.06	0.7	-0.51	0.75	JCI
LII	0.81		0.43	0.64	0.83	0.87	0.26	0.64	-0.22	0.79	LII
MAS	0.2	0.43		0.76	0.34	0.49	0.92	0.19	0.63	0.33	MAS
CSL	0.66	0.64	0.76		0.73	0.83	0.54	0.51	0.13	0.51	CSL
OC	0.91	0.83	0.34	0.73		0.92	0.09	0.82	-0.39	0.66	OC
TT	0.92	0.87	0.49	0.83	0.92		0.26	0.67	-0.24	0.73	TT
FBIN	-0.06	0.26	0.92	0.54	0.09	0.26		0.01	0.77	0.13	FBIN
NX	0.7	0.64	0.19	0.51	0.82	0.67	0.01		-0.44	0.42	NX
JELD	-0.51	-0.22	0.63	0.13	-0.39	-0.24	0.77	-0.44		-0.22	JELD
AZEK	0.75	0.79	0.33	0.51	0.66	0.73	0.13	0.42	-0.22		AZEK
	JCI	LII	MAS	CSL	OC	TT	FBIN	NX	JELD	AZEK

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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

TT	+ 0.92	JCI
FBIN	+ 0.92	MAS
TT	+ 0.92	OC
OC	+ 0.91	JCI
TT	+ 0.87	LII
OC	+ 0.83	LII

High negative correlations

JELD	- 0.51	JCI
JELD	- 0.44	NX
JELD	- 0.39	OC
JELD	- 0.24	TT
AZEK	- 0.22	JELD
JELD	- 0.22	LII

Risk-Adjusted Indicators

There is a big difference between Carrier Stock performing well and Carrier Global 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 Carrier Global'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
JCI	1.03	0.12	0.16	0.16	0.83	(1.26)	2.49	(1.66)	10.49
LII	1.15	0.09	0.03	0.27	1.44	(1.23)	2.59	(2.28)	7.45
MAS	0.89	(0.03)	(0.06)	0.03	1.15	(0.88)	1.64	(1.94)	6.15
CSL	1.26	0.01	0.01	0.09	1.88	(1.38)	2.58	(1.93)	12.15
OC	1.39	0.20	0.12	0.25	1.48	(1.51)	3.38	(2.45)	10.42
TT	1.03	0.18	0.11	0.29	1.24	(1.12)	2.36	(1.84)	6.50
FBIN	1.30	(0.10)	0.00	(0.05)	0.00	0.00	2.50	(2.72)	10.07
NX	1.98	0.10	0.03	0.21	2.56	(2.28)	4.43	(2.75)	32.55
JELD	2.39	(0.47)	0.00	(0.22)	0.00	0.00	3.93	(5.43)	37.15
AZEK	1.34	0.18	0.10	0.29	1.44	(1.44)	3.56	(2.33)	9.05

Carrier Global Corporate Management

Michael Todman	Independent Director	Profile
Milena Oliveira	Senior Officer	Profile
John Faraci	Executive Chairman of the Board	Profile
David Appel	President - Refrigeration	Profile

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