Flowserve Correlations

FLS Stock

USD 77.75 0.13 0.17%

The current 90-days correlation between Flowserve and Smith AO is -0.01 (i.e., Good diversification). The correlation of Flowserve 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Flowserve Correlation With Market

Poor diversification

The correlation between Flowserve and DJI is 0.61 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Flowserve and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Flowserve Stock

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

For more information on how to buy Flowserve Stock please use our How to Invest in Flowserve guide.

Moving together with Flowserve Stock

0.81	PH	Parker Hannifin Earnings Call This Week	Pair Corr
0.64	RFG	Roebuck Food Group	Pair Corr
0.75	DCI	Donaldson	Pair Corr
0.69	IEX	IDEX	Pair Corr
0.78	KMT	Kennametal	Pair Corr
0.72	WWD	Woodward Earnings Call This Week	Pair Corr
0.65	PRV	Porvair plc	Pair Corr

Moving against Flowserve Stock

0.58	WATR	Current Water Techno	Pair Corr
0.72	HYFM	Hydrofarm Holdings	Pair Corr
0.7	ILAG	Intelligent Living	Pair Corr
0.38	XYL	Xylem Inc	Pair Corr
0.37	PNR	Pentair PLC Earnings Call This Week	Pair Corr
0.36	605259	Lutian Machinery	Pair Corr

Related Correlations Analysis

	AOS	WTS	RRX	DCI	GNRC	AIT	PSN	SPXC	POOL	GTLS
AOS		0.91	0.81	0.76	0.32	0.92	-0.46	0.06	0.34	0.53	AOS
WTS	0.91		0.74	0.79	0.16	0.91	-0.41	0.15	0.26	0.57	WTS
RRX	0.81	0.74		0.71	0.31	0.8	-0.42	0.09	0.31	0.46	RRX
DCI	0.76	0.79	0.71		-0.14	0.83	-0.59	0.38	-0.16	0.85	DCI
GNRC	0.32	0.16	0.31	-0.14		0.21	0.41	-0.19	0.89	-0.48	GNRC
AIT	0.92	0.91	0.8	0.83	0.21		-0.41	0.26	0.25	0.56	AIT
PSN	-0.46	-0.41	-0.42	-0.59	0.41	-0.41		-0.03	0.48	-0.7	PSN
SPXC	0.06	0.15	0.09	0.38	-0.19	0.26	-0.03		-0.33	0.26	SPXC
POOL	0.34	0.26	0.31	-0.16	0.89	0.25	0.48	-0.33		-0.52	POOL
GTLS	0.53	0.57	0.46	0.85	-0.48	0.56	-0.7	0.26	-0.52		GTLS
	AOS	WTS	RRX	DCI	GNRC	AIT	PSN	SPXC	POOL	GTLS

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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

AIT	+ 0.92	AOS
WTS	+ 0.91	AOS
AIT	+ 0.91	WTS
POOL	+ 0.89	GNRC
GTLS	+ 0.85	DCI
AIT	+ 0.83	DCI

High negative correlations

GTLS	- 0.7	PSN
PSN	- 0.59	DCI
GTLS	- 0.52	POOL
GTLS	- 0.48	GNRC
PSN	- 0.46	AOS
PSN	- 0.42	RRX

Risk-Adjusted Indicators

There is a big difference between Flowserve Stock performing well and Flowserve 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 Flowserve'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
AOS	1.07	(0.07)	(0.04)	0.01	1.41	(1.09)	2.24	(2.23)	7.54
WTS	1.05	0.01	0.01	0.08	1.38	(1.25)	2.75	(1.61)	9.37
RRX	1.96	0.12	0.03	0.80	2.20	(2.24)	4.19	(3.90)	11.58
DCI	1.11	0.28	0.20	1.56	0.80	(1.26)	2.27	(1.74)	9.29
GNRC	2.46	(0.35)	0.00	(0.07)	0.00	0.00	4.15	(5.41)	11.59
AIT	0.98	0.06	0.05	0.13	1.06	(1.03)	2.64	(1.73)	5.91
PSN	1.84	(0.31)	0.00	(0.21)	0.00	0.00	3.68	(3.89)	25.78
SPXC	1.71	0.08	0.06	0.13	1.81	(1.85)	3.62	(3.22)	17.00
POOL	1.34	(0.27)	0.00	(0.16)	0.00	0.00	3.03	(2.65)	6.97
GTLS	0.10	0.04	(0.28)	0.96	0.00	(0.12)	0.23	(0.12)	1.32

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