Crane NXT Correlations

CXT Stock

63.97 0.26 0.40%

The current 90-days correlation between Crane NXT and Donaldson is 0.45 (i.e., Very weak diversification). The correlation of Crane NXT 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.

Crane NXT Correlation With Market

Weak diversification

The correlation between Crane NXT Co and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Crane NXT Co 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 Crane NXT Co. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in interest.

Moving together with Crane Stock

0.65	B	Barnes Group	Pair Corr
0.84	HI	Hillenbrand Earnings Call This Week	Pair Corr
0.67	ENOV	Enovis Corp	Pair Corr
0.67	CMI	Cummins Earnings Call This Week	Pair Corr
0.79	FLS	Flowserve	Pair Corr
0.73	GHM	Graham Earnings Call This Week	Pair Corr
0.66	NNE	Nano Nuclear Energy	Pair Corr
0.66	NPO	Enpro Industries	Pair Corr

Moving against Crane Stock

0.65	BW	Babcock Wilcox Enter	Pair Corr
0.61	MKDWW	MKDWELL Tech Warrants	Pair Corr
0.31	AOS	Smith AO Sell-off Trend	Pair Corr

Related Correlations Analysis

	DCI	CIR	ITT	FELE	EPAC	GRC	CR	LXFR	TNC	KAI
DCI		-0.81	0.68	0.79	0.77	0.69	0.79	0.72	0.85	0.59	DCI
CIR	-0.81		-0.36	-0.62	-0.63	-0.56	-0.57	-0.5	-0.65	-0.32	CIR
ITT	0.68	-0.36		0.85	0.77	0.86	0.87	0.69	0.6	0.89	ITT
FELE	0.79	-0.62	0.85		0.9	0.94	0.84	0.68	0.64	0.81	FELE
EPAC	0.77	-0.63	0.77	0.9		0.88	0.78	0.7	0.6	0.7	EPAC
GRC	0.69	-0.56	0.86	0.94	0.88		0.87	0.68	0.52	0.83	GRC
CR	0.79	-0.57	0.87	0.84	0.78	0.87		0.81	0.61	0.9	CR
LXFR	0.72	-0.5	0.69	0.68	0.7	0.68	0.81		0.58	0.74	LXFR
TNC	0.85	-0.65	0.6	0.64	0.6	0.52	0.61	0.58		0.42	TNC
KAI	0.59	-0.32	0.89	0.81	0.7	0.83	0.9	0.74	0.42		KAI
	DCI	CIR	ITT	FELE	EPAC	GRC	CR	LXFR	TNC	KAI

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

GRC	+ 0.94	FELE
EPAC	+ 0.9	FELE
KAI	+ 0.9	CR
KAI	+ 0.89	ITT
GRC	+ 0.88	EPAC
CR	+ 0.87	ITT

High negative correlations

CIR	- 0.81	DCI
TNC	- 0.65	CIR
EPAC	- 0.63	CIR
FELE	- 0.62	CIR
CR	- 0.57	CIR
GRC	- 0.56	CIR

Risk-Adjusted Indicators

There is a big difference between Crane Stock performing well and Crane NXT 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 Crane NXT'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
DCI	0.88	(0.09)	0.00	(0.11)	0.00	0.00	1.88	(1.66)	8.98
CIR	2.74	1.28	0.73	(1.33)	0.48	(3.80)	7.45	(2.85)	51.68
ITT	1.09	0.04	0.00	0.16	1.53	(1.07)	2.63	(2.71)	9.57
FELE	1.17	(0.07)	0.00	(0.05)	0.00	0.00	2.20	(2.14)	13.66
EPAC	1.39	(0.03)	(0.05)	0.02	1.69	(1.46)	2.35	(2.90)	13.10
GRC	1.34	0.01	(0.02)	0.10	1.78	(1.36)	2.35	(2.56)	14.03
CR	1.56	0.12	0.08	0.20	1.48	(1.82)	4.19	(2.88)	15.24
LXFR	1.82	0.27	0.10	2.13	1.78	(2.10)	3.55	(3.00)	18.90
TNC	1.21	(0.10)	0.00	(0.07)	0.00	0.00	2.24	(2.88)	12.47
KAI	1.52	0.20	0.10	0.35	1.62	(1.78)	3.28	(3.18)	11.67

Crane NXT Corporate Management

Paul Igoe	General VP	Profile
Jason Feldman	Vice Relations	Profile
Jennifer Kartono	Senior Officer	Profile
Hans Lidforss	Senior Strategy	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

2024 Macroaxis LLC