Donaldson Correlations

DCI Stock

USD 71.65 1.37 1.95%

The current 90-days correlation between Donaldson and IDEX Corporation is 0.37 (i.e., Weak 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

Modest diversification

The correlation between Donaldson and DJI is 0.28 (i.e., Modest 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.

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 main economic indicators.

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

Moving together with Donaldson Stock

0.64	BW	Babcock Wilcox Enter Buyout Trend	Pair Corr
0.78	CR	Crane Company	Pair Corr
0.87	IR	Ingersoll Rand	Pair Corr
0.65	PH	Parker Hannifin Earnings Call Today	Pair Corr
0.83	EPAC	Enerpac Tool Group	Pair Corr
0.79	FELE	Franklin Electric	Pair Corr
0.82	AOS	Smith AO Earnings Call Today	Pair Corr
0.73	DOV	Dover Earnings Call Today	Pair Corr
0.63	ETN	Eaton PLC Earnings Call Today	Pair Corr
0.63	GGG	Graco Inc	Pair Corr
0.68	GRC	Gorman Rupp Earnings Call Tomorrow	Pair Corr
0.69	IEX	IDEX Earnings Call This Week	Pair Corr
0.68	ITT	ITT Inc Earnings Call This Week	Pair Corr
0.77	ITW	Illinois Tool Works Earnings Call Today	Pair Corr
0.61	MWA	Mueller Water Products Earnings Call This Week	Pair Corr
0.92	RRX	Regal Beloit Earnings Call This Week	Pair Corr

Moving against Donaldson Stock

0.83	CVV	CVD Equipment	Pair Corr
0.78	B	Barnes Group	Pair Corr
0.74	RR	Richtech Robotics Class	Pair Corr
0.62	XMTR	Xometry	Pair Corr
0.45	MIR	Mirion Technologies	Pair Corr

Related Correlations Analysis

	IEX	WTS	GRC	EPAC	CXT	CIR	ITT	FELE	GGG	AME
IEX		0.77	0.86	0.84	0.22	-0.39	0.86	0.84	0.9	0.89	IEX
WTS	0.77		0.78	0.64	0.52	0.02	0.84	0.73	0.86	0.76	WTS
GRC	0.86	0.78		0.89	0.05	-0.52	0.86	0.94	0.92	0.81	GRC
EPAC	0.84	0.64	0.89		-0.09	-0.63	0.8	0.93	0.8	0.69	EPAC
CXT	0.22	0.52	0.05	-0.09		0.6	0.36	-0.01	0.23	0.28	CXT
CIR	-0.39	0.02	-0.52	-0.63	0.6		-0.35	-0.6	-0.37	-0.22	CIR
ITT	0.86	0.84	0.86	0.8	0.36	-0.35		0.86	0.92	0.82	ITT
FELE	0.84	0.73	0.94	0.93	-0.01	-0.6	0.86		0.9	0.74	FELE
GGG	0.9	0.86	0.92	0.8	0.23	-0.37	0.92	0.9		0.9	GGG
AME	0.89	0.76	0.81	0.69	0.28	-0.22	0.82	0.74	0.9		AME
	IEX	WTS	GRC	EPAC	CXT	CIR	ITT	FELE	GGG	AME

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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

FELE	+ 0.94	GRC
FELE	+ 0.93	EPAC
GGG	+ 0.92	GRC
GGG	+ 0.92	ITT
GGG	+ 0.9	IEX
GGG	+ 0.9	FELE

High negative correlations

CIR	- 0.63	EPAC
FELE	- 0.6	CIR
CIR	- 0.52	GRC
CIR	- 0.39	IEX
GGG	- 0.37	CIR
ITT	- 0.35	CIR

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
IEX	1.11	0.08	0.03	0.31	1.19	(1.34)	2.22	(1.71)	11.99
WTS	1.16	0.02	(0.01)	0.11	1.55	(1.13)	2.07	(2.48)	10.43
GRC	1.33	0.01	(0.01)	0.10	1.78	(1.36)	2.35	(2.56)	14.03
EPAC	1.39	(0.04)	(0.04)	0.01	1.69	(1.46)	2.35	(2.90)	13.10
CXT	1.14	0.18	0.11	0.38	1.14	(1.27)	3.22	(2.42)	8.33
CIR	2.74	1.25	0.74	(1.77)	0.48	(3.80)	7.45	(2.85)	51.68
ITT	1.06	(0.01)	(0.03)	0.06	1.53	(1.01)	2.52	(2.71)	9.57
FELE	1.15	(0.08)	0.00	(0.08)	0.00	0.00	2.20	(2.14)	13.66
GGG	0.97	(0.05)	(0.06)	(0.01)	1.34	(0.92)	1.64	(2.13)	8.14
AME	0.95	0.10	0.06	0.24	0.89	(1.19)	2.17	(1.41)	11.73

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