Donaldson Correlations

DCI Stock

USD 100.62 0.21 0.21%

The current 90-days correlation between Donaldson and Generac Holdings is -0.03 (i.e., Good diversification). The correlation of Donaldson 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.

Donaldson Correlation With Market

Poor diversification

The correlation between Donaldson and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Donaldson and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Donaldson Stock

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

For more detail on how to invest in Donaldson Stock please use our How to Invest in Donaldson guide.

Moving together with Donaldson Stock

0.76	600765	AVIC Heavy Machinery	Pair Corr
0.69	CR	Crane Company Earnings Call This Week	Pair Corr
0.82	IR	Ingersoll Rand	Pair Corr
0.9	PH	Parker Hannifin Earnings Call This Week	Pair Corr
0.84	RFG	Roebuck Food Group	Pair Corr
0.61	FELE	Franklin Electric	Pair Corr
0.75	FLS	Flowserve Sell-off Trend	Pair Corr
0.84	GGG	Graco Inc	Pair Corr
0.84	GRC	Gorman Rupp Earnings Call This Week	Pair Corr
0.92	IEX	IDEX	Pair Corr
0.77	ITW	Illinois Tool Works Earnings Call This Week	Pair Corr
0.95	KMT	Kennametal	Pair Corr
0.88	SNA	Snap On	Pair Corr
0.79	WTS	Watts Water Technologies	Pair Corr
0.89	WWD	Woodward Earnings Call This Week	Pair Corr
0.7	FTAIN	Fortress Transportation	Pair Corr
0.87	PRV	Porvair plc	Pair Corr

Moving against Donaldson Stock

0.63	WATR	Current Water Techno	Pair Corr
0.77	ILAG	Intelligent Living	Pair Corr
0.59	HYFM	Hydrofarm Holdings	Pair Corr
0.46	XYL	Xylem Inc	Pair Corr

Related Correlations Analysis

	GNRC	WTS	AOS	FLS	RRX	SPXC	AIT	CR	CNM	POOL
GNRC		0.16	0.32	-0.46	0.31	-0.19	0.21	0.37	0.3	0.89	GNRC
WTS	0.16		0.91	0.44	0.74	0.15	0.91	0.85	0.78	0.26	WTS
AOS	0.32	0.91		0.34	0.81	0.06	0.92	0.86	0.84	0.34	AOS
FLS	-0.46	0.44	0.34		0.36	0.67	0.53	0.44	0.27	-0.51	FLS
RRX	0.31	0.74	0.81	0.36		0.09	0.8	0.77	0.79	0.31	RRX
SPXC	-0.19	0.15	0.06	0.67	0.09		0.26	0.25	0.08	-0.33	SPXC
AIT	0.21	0.91	0.92	0.53	0.8	0.26		0.91	0.81	0.25	AIT
CR	0.37	0.85	0.86	0.44	0.77	0.25	0.91		0.83	0.41	CR
CNM	0.3	0.78	0.84	0.27	0.79	0.08	0.81	0.83		0.33	CNM
POOL	0.89	0.26	0.34	-0.51	0.31	-0.33	0.25	0.41	0.33		POOL
	GNRC	WTS	AOS	FLS	RRX	SPXC	AIT	CR	CNM	POOL

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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

AIT	+ 0.92	AOS
AOS	+ 0.91	WTS
AIT	+ 0.91	WTS
CR	+ 0.91	AIT
POOL	+ 0.89	GNRC
CR	+ 0.86	AOS

High negative correlations

POOL	- 0.51	FLS
FLS	- 0.46	GNRC
POOL	- 0.33	SPXC
SPXC	- 0.19	GNRC

Risk-Adjusted Indicators

There is a big difference between Donaldson Stock performing well and Donaldson 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 Donaldson'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
GNRC	2.46	(0.35)	0.00	(0.07)	0.00	0.00	4.15	(5.41)	11.59
WTS	1.05	0.01	0.01	0.08	1.38	(1.25)	2.75	(1.61)	9.37
AOS	1.07	(0.07)	(0.04)	0.01	1.41	(1.09)	2.24	(2.23)	7.54
FLS	1.74	0.60	0.41	0.70	0.94	(2.19)	2.55	(2.33)	34.18
RRX	1.96	0.12	0.03	0.80	2.20	(2.24)	4.19	(3.90)	11.58
SPXC	1.71	0.08	0.06	0.13	1.81	(1.85)	3.62	(3.22)	17.00
AIT	0.98	0.06	0.05	0.13	1.06	(1.03)	2.64	(1.73)	5.91
CR	1.17	0.07	0.07	0.12	1.23	(1.30)	2.36	(2.32)	6.88
CNM	1.67	0.13	0.06	0.26	1.77	(1.97)	3.56	(2.83)	11.37
POOL	1.34	(0.27)	0.00	(0.16)	0.00	0.00	3.03	(2.65)	6.97

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