ESCO Technologies Correlations

ESE Stock

USD 223.70 1.78 0.80%

The current 90-days correlation between ESCO Technologies and Littelfuse is 0.57 (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

Good diversification

The correlation between ESCO Technologies and DJI is -0.2 (i.e., Good 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 population.

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

Moving together with ESCO Stock

0.69	VATE	Innovate Corp	Pair Corr
0.63	688218	Jiangsu Beiren Robot	Pair Corr
0.8	688420	Tianjin Meiteng Tech	Pair Corr
0.68	601608	CITIC Heavy Industries	Pair Corr
0.71	688190	Qingdao Yunlu Advanced	Pair Corr
0.67	600666	Aurora Optoelectronics	Pair Corr
0.7	EAAS	Eenergy Group PLC	Pair Corr

Moving against ESCO Stock

0.39	HI	Hillenbrand	Pair Corr
0.34	TE	T1 Energy Symbol Change	Pair Corr
0.33	PH	Parker Hannifin Earnings Call This Week	Pair Corr
0.48	301148	Xiamen Jiarong Technology	Pair Corr
0.69	BRM	BioRem Inc	Pair Corr
0.43	601100	Jiangsu Hengli Hydraulic	Pair Corr

Related Correlations Analysis

	LFUS	BMI	VNT	TTMI	ITRI	NOVT	OSIS	VICR	CAMT	CGNX
LFUS		-0.41	0.31	0.76	0.04	0.63	0.38	0.84	0.83	0.28	LFUS
BMI	-0.41		0.39	-0.5	0.39	-0.14	-0.07	-0.55	-0.33	0.22	BMI
VNT	0.31	0.39		-0.17	0.85	0.38	-0.13	0.02	0.36	0.84	VNT
TTMI	0.76	-0.5	-0.17		-0.37	0.59	0.63	0.83	0.71	-0.11	TTMI
ITRI	0.04	0.39	0.85	-0.37		0.11	-0.34	-0.3	0.15	0.93	ITRI
NOVT	0.63	-0.14	0.38	0.59	0.11		0.38	0.64	0.76	0.31	NOVT
OSIS	0.38	-0.07	-0.13	0.63	-0.34	0.38		0.56	0.48	-0.15	OSIS
VICR	0.84	-0.55	0.02	0.83	-0.3	0.64	0.56		0.78	-0.06	VICR
CAMT	0.83	-0.33	0.36	0.71	0.15	0.76	0.48	0.78		0.42	CAMT
CGNX	0.28	0.22	0.84	-0.11	0.93	0.31	-0.15	-0.06	0.42		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	+ 0.93	ITRI
ITRI	+ 0.85	VNT
VICR	+ 0.84	LFUS
CGNX	+ 0.84	VNT
CAMT	+ 0.83	LFUS
VICR	+ 0.83	TTMI

High negative correlations

VICR	- 0.55	BMI
TTMI	- 0.5	BMI
BMI	- 0.41	LFUS
ITRI	- 0.37	TTMI
OSIS	- 0.34	ITRI
CAMT	- 0.33	BMI

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	1.66	0.00	0.03	0.07	1.99	(1.61)	3.65	(3.64)	8.56
BMI	1.48	(0.13)	0.00	(0.01)	0.00	0.00	2.78	(3.12)	14.11
VNT	1.22	(0.31)	0.00	(0.15)	0.00	0.00	1.80	(2.57)	12.73
TTMI	3.83	0.75	0.18	0.43	3.86	(4.23)	9.11	(8.49)	22.86
ITRI	1.77	(0.51)	0.00	(0.30)	0.00	0.00	2.51	(4.16)	24.28
NOVT	2.45	0.46	0.08	(1.28)	3.94	(2.55)	7.35	(4.57)	27.31
OSIS	2.05	0.03	0.04	0.08	2.34	(2.16)	4.86	(3.74)	20.11
VICR	3.13	1.35	0.40	1.08	2.38	(3.58)	7.38	(5.35)	38.42
CAMT	2.74	0.19	0.08	0.18	2.98	(3.14)	7.61	(5.48)	15.59
CGNX	1.83	(0.39)	0.00	(0.18)	0.00	0.00	3.77	(4.09)	16.68

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