ESCO Technologies Correlations

ESE Stock

USD 272.76 2.75 1.02%

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

Very weak diversification

The correlation between ESCO Technologies and DJI is 0.52 (i.e., Very 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 main economic indicators.

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

Moving together with ESCO Stock

0.7	0ACC	Accelleron Industries	Pair Corr
0.63	HI	Hillenbrand	Pair Corr
0.69	HY	Hyster Yale Materials	Pair Corr
0.83	IR	Ingersoll Rand	Pair Corr
0.76	PH	Parker Hannifin	Pair Corr
0.83	OSG	OSG Corporation	Pair Corr
0.7	EAAS	Eenergy Group PLC	Pair Corr
0.87	STGN	Starrag Group Holding	Pair Corr
0.82	IMI1	IMI plc	Pair Corr
0.88	CE3	Chongqing Machinery	Pair Corr
0.77	HZ8	Insteel Industries	Pair Corr
0.81	DZR	AVINGTRANS LS 05 Earnings Call This Week	Pair Corr
0.77	PFV	Pfeiffer Vacuum Tech	Pair Corr

Moving against ESCO Stock

0.69	INRN	Interroll Holding	Pair Corr
0.65	74Z	BOA CEPT SA	Pair Corr
0.42	FQ4	OCEAN GEOLOOP AS	Pair Corr
0.36	RR	Richtech Robotics Class	Pair Corr
0.34	D7G	Nel ASA Earnings Call This Week	Pair Corr
0.52	EPOW	Sunrise New Energy	Pair Corr
0.52	WAH	WOLFTANK ADISA HLDG	Pair Corr
0.45	7YA	M VEST WATER	Pair Corr

Related Correlations Analysis

	LFUS	BMI	VNT	TTMI	ITRI	NOVT	OSIS	VICR	CAMT	CGNX
LFUS		-0.82	0.84	0.84	0.48	0.9	0.23	0.86	0.91	0.78	LFUS
BMI	-0.82		-0.53	-0.75	-0.5	-0.65	0.08	-0.74	-0.73	-0.5	BMI
VNT	0.84	-0.53		0.59	0.36	0.8	0.31	0.7	0.72	0.68	VNT
TTMI	0.84	-0.75	0.59		0.54	0.85	0.33	0.87	0.86	0.5	TTMI
ITRI	0.48	-0.5	0.36	0.54		0.45	0.34	0.47	0.47	0.09	ITRI
NOVT	0.9	-0.65	0.8	0.85	0.45		0.46	0.92	0.93	0.65	NOVT
OSIS	0.23	0.08	0.31	0.33	0.34	0.46		0.42	0.43	0.23	OSIS
VICR	0.86	-0.74	0.7	0.87	0.47	0.92	0.42		0.94	0.55	VICR
CAMT	0.91	-0.73	0.72	0.86	0.47	0.93	0.43	0.94		0.69	CAMT
CGNX	0.78	-0.5	0.68	0.5	0.09	0.65	0.23	0.55	0.69		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

CAMT	+ 0.94	VICR
CAMT	+ 0.93	NOVT
VICR	+ 0.92	NOVT
CAMT	+ 0.91	LFUS
NOVT	+ 0.9	LFUS
VICR	+ 0.87	TTMI

High negative correlations

BMI	- 0.82	LFUS
TTMI	- 0.75	BMI
VICR	- 0.74	BMI
CAMT	- 0.73	BMI
NOVT	- 0.65	BMI
VNT	- 0.53	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	1.67	0.56	0.34	0.39	1.15	(1.94)	4.80	(2.84)	8.83
BMI	1.81	(0.21)	0.00	(0.07)	0.00	0.00	3.58	(3.45)	16.79
VNT	1.19	0.12	0.08	0.15	1.43	(1.19)	3.41	(2.80)	8.92
TTMI	3.73	0.54	0.11	1.76	4.30	(4.15)	9.11	(8.95)	30.26
ITRI	1.48	(0.07)	(0.02)	0.00	2.13	(1.46)	2.59	(3.23)	11.17
NOVT	1.88	0.36	0.19	0.24	1.83	(2.15)	6.09	(3.24)	16.00
OSIS	2.05	0.00	0.02	0.06	2.55	(2.16)	4.86	(4.34)	14.59
VICR	2.65	0.79	0.22	0.50	2.93	(2.84)	6.34	(5.07)	23.16
CAMT	2.72	0.62	0.21	0.45	2.67	(3.09)	7.26	(5.48)	14.74
CGNX	2.38	0.71	0.34	2.47	1.51	(3.26)	5.82	(3.34)	39.24

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