ESCO Technologies Correlations

ESE Stock

USD 197.62 2.31 1.18%

The current 90-days correlation between ESCO Technologies and Littelfuse is 0.49 (i.e., Very weak diversification). The correlation of ESCO Technologies 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.

ESCO Technologies Correlation With Market

Weak diversification

The correlation between ESCO Technologies and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ESCO Technologies and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ESCO Stock

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

For information on how to trade ESCO Stock refer to our How to Trade ESCO Stock guide.

Moving together with ESCO Stock

0.76	688420	Tianjin Meiteng Tech	Pair Corr
0.62	600666	Aurora Optoelectronics	Pair Corr
0.67	EAAS	Eenergy Group PLC	Pair Corr
0.61	002774	IFE Elevators	Pair Corr
0.62	WATR	Current Water Techno	Pair Corr

Moving against ESCO Stock

0.71	TE	T1 Energy Symbol Change	Pair Corr
0.64	PL	Planet Labs PBC	Pair Corr
0.58	PH	Parker Hannifin	Pair Corr
0.54	600765	AVIC Heavy Machinery	Pair Corr
0.47	301338	GKG Precision Machine	Pair Corr
0.4	IR	Ingersoll Rand	Pair Corr
0.81	301148	Xiamen Jiarong Technology	Pair Corr
0.52	301028	Xiamen East Asia	Pair Corr
0.85	601100	Jiangsu Hengli Hydraulic	Pair Corr
0.67	BRM	BioRem Inc	Pair Corr
0.58	688003	Suzhou TZTEK Technology	Pair Corr
0.47	002795	Yorhe Fluid Intelligent	Pair Corr
0.4	600835	Shanghai Mechanical	Pair Corr

Related Correlations Analysis

	LFUS	BMI	VNT	TTMI	ITRI	NOVT	OSIS	VICR	CAMT	CGNX
LFUS		0.26	0.59	-0.01	0.44	0.24	-0.28	-0.09	0.51	0.46	LFUS
BMI	0.26		0.41	0.17	0.19	0.47	0.45	0.21	0.39	0.2	BMI
VNT	0.59	0.41		-0.57	0.88	0.11	-0.39	-0.47	0.59	0.89	VNT
TTMI	-0.01	0.17	-0.57		-0.76	0.43	0.66	0.77	-0.09	-0.7	TTMI
ITRI	0.44	0.19	0.88	-0.76		-0.13	-0.53	-0.71	0.57	0.97	ITRI
NOVT	0.24	0.47	0.11	0.43	-0.13		0.33	0.63	0.36	-0.08	NOVT
OSIS	-0.28	0.45	-0.39	0.66	-0.53	0.33		0.53	-0.07	-0.47	OSIS
VICR	-0.09	0.21	-0.47	0.77	-0.71	0.63	0.53		-0.21	-0.69	VICR
CAMT	0.51	0.39	0.59	-0.09	0.57	0.36	-0.07	-0.21		0.63	CAMT
CGNX	0.46	0.2	0.89	-0.7	0.97	-0.08	-0.47	-0.69	0.63		CGNX
	LFUS	BMI	VNT	TTMI	ITRI	NOVT	OSIS	VICR	CAMT	CGNX

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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

CGNX	+ 0.97	ITRI
CGNX	+ 0.89	VNT
ITRI	+ 0.88	VNT
VICR	+ 0.77	TTMI
OSIS	+ 0.66	TTMI
VICR	+ 0.63	NOVT

High negative correlations

ITRI	- 0.76	TTMI
VICR	- 0.71	ITRI
CGNX	- 0.7	TTMI
CGNX	- 0.69	VICR
TTMI	- 0.57	VNT
OSIS	- 0.53	ITRI

Risk-Adjusted Indicators

There is a big difference between ESCO Stock performing well and ESCO Technologies 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 ESCO Technologies' 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
LFUS	1.46	(0.05)	(0.01)	0.02	1.91	(1.38)	2.63	(3.42)	7.32
BMI	1.39	(0.08)	(0.03)	(0.01)	1.86	(1.39)	2.78	(3.12)	9.51
VNT	1.20	(0.22)	0.00	(0.12)	0.00	0.00	2.43	(2.45)	14.20
TTMI	3.33	0.23	0.07	0.14	4.25	(3.36)	8.42	(8.49)	19.41
ITRI	1.80	(0.45)	0.00	(0.25)	0.00	0.00	2.63	(4.16)	26.10
NOVT	2.32	0.09	0.03	0.09	4.36	(2.14)	4.21	(4.81)	27.31
OSIS	1.87	(0.05)	0.00	0.03	2.30	(1.95)	4.03	(3.74)	20.11
VICR	3.23	1.33	0.39	0.94	2.45	(3.71)	7.38	(5.35)	36.51
CAMT	2.90	0.10	0.04	0.11	3.23	(3.20)	7.97	(5.48)	15.59
CGNX	1.93	(0.38)	0.00	(0.13)	0.00	0.00	3.77	(4.09)	20.16

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