Donaldson Correlations

DCI Stock

USD 107.76 0.02 0.02%

The current 90-days correlation between Donaldson and Howmet Aerospace is 0.35 (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

Very poor diversification

The correlation between Donaldson and DJI is 0.82 (i.e., Very 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 services.

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

Moving together with Donaldson Stock

0.88	0ACC	Accelleron Industries	Pair Corr
0.69	FUCA	FANUC PUNSPADR 110	Pair Corr
0.63	CR	Crane Company	Pair Corr
0.89	HI	Hillenbrand	Pair Corr
0.86	HY	Hyster Yale Materials	Pair Corr
0.97	IR	Ingersoll Rand	Pair Corr
0.95	PH	Parker Hannifin	Pair Corr
0.71	PL	Planet Labs PBC Aggressive Push	Pair Corr
0.62	TE	T1 Energy Earnings Call This Week	Pair Corr
0.95	OSG	OSG Corporation	Pair Corr
0.82	21T	Bodycote PLC	Pair Corr
0.7	JUN3	Jungheinrich AG ONVZO	Pair Corr
0.71	MBH3	Maschinenfabrik Berthold	Pair Corr
0.66	NVJP	Umicore SA	Pair Corr
0.87	EAAS	Eenergy Group PLC	Pair Corr
0.64	STGN	Starrag Group Holding	Pair Corr
0.94	IMI1	IMI plc	Pair Corr
0.83	CE3	Chongqing Machinery	Pair Corr
0.87	HZ8	Insteel Industries	Pair Corr
0.9	DZR	AVINGTRANS LS 05 Earnings Call This Week	Pair Corr
0.72	TWN	Twin Disc	Pair Corr
0.77	NDX1	Nordex SE Earnings Call This Week	Pair Corr
0.93	PFV	Pfeiffer Vacuum Tech	Pair Corr

Moving against Donaldson Stock

0.8	INRN	Interroll Holding	Pair Corr
0.65	FQ4	OCEAN GEOLOOP AS	Pair Corr
0.6	D7G	Nel ASA Earnings Call This Week	Pair Corr
0.41	WATR	Current Water Techno	Pair Corr
0.83	EPOW	Sunrise New Energy	Pair Corr
0.69	7YA	M VEST WATER	Pair Corr
0.35	WAH	WOLFTANK ADISA HLDG	Pair Corr

Related Correlations Analysis

	EMR	CMI	HWM	CSX	TRI	ROP	AME	CP
EMR		0.95	0.66	0.75	-0.79	-0.79	0.93	0.62	EMR
CMI	0.95		0.74	0.76	-0.79	-0.82	0.94	0.64	CMI
HWM	0.66	0.74		0.7	-0.77	-0.78	0.78	0.71	HWM
CSX	0.75	0.76	0.7		-0.92	-0.86	0.87	0.96	CSX
TRI	-0.79	-0.79	-0.77	-0.92		0.96	-0.89	-0.88	TRI
ROP	-0.79	-0.82	-0.78	-0.86	0.96		-0.9	-0.8	ROP
AME	0.93	0.94	0.78	0.87	-0.89	-0.9		0.77	AME
CP	0.62	0.64	0.71	0.96	-0.88	-0.8	0.77		CP
	EMR	CMI	HWM	CSX	TRI	ROP	AME	CP

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

CP	+ 0.96	CSX
ROP	+ 0.96	TRI
CMI	+ 0.95	EMR
AME	+ 0.94	CMI
AME	+ 0.93	EMR
AME	+ 0.87	CSX

High negative correlations

TRI	- 0.92	CSX
AME	- 0.9	ROP
AME	- 0.89	TRI
CP	- 0.88	TRI
ROP	- 0.86	CSX
ROP	- 0.82	CMI

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
EMR	1.50	0.11	0.07	0.12	2.16	(1.46)	3.43	(3.47)	11.44
CMI	1.52	0.27	0.13	0.22	2.20	(1.67)	2.87	(2.27)	15.60
HWM	1.48	0.31	0.19	0.44	1.28	(1.72)	3.56	(2.29)	7.78
CSX	0.87	0.24	0.17	0.36	0.85	(0.92)	2.27	(2.04)	5.63
TRI	1.61	(0.85)	0.00	(0.60)	0.00	0.00	1.74	(3.86)	18.17
ROP	1.32	(0.51)	0.00	(0.37)	0.00	0.00	1.91	(4.19)	11.55
AME	0.88	0.22	0.21	0.30	0.71	(1.03)	1.87	(1.16)	6.22
CP	1.07	0.22	0.16	0.30	1.03	(1.19)	2.54	(1.98)	7.63

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