Flowserve Correlations

FLS Stock

USD 72.80 0.31 0.43%

The current 90-days correlation between Flowserve and Smith AO is 0.02 (i.e., Significant 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

Modest diversification

The correlation between Flowserve and DJI is 0.21 (i.e., Modest 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 board of governors.

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

Moving together with Flowserve Stock

0.87	PH	Parker Hannifin	Pair Corr
0.71	RFG	Roebuck Food Group	Pair Corr
0.73	WWD	Woodward	Pair Corr
0.72	GTLS	Chart Industries	Pair Corr
0.66	PRV	Porvair plc	Pair Corr

Moving against Flowserve Stock

0.89	605259	Lutian Machinery	Pair Corr
0.87	HYFM	Hydrofarm Holdings	Pair Corr
0.78	ILAG	Intelligent Living	Pair Corr
0.73	301053	Yoantion Industrial	Pair Corr
0.71	603109	Senci Electric Machinery	Pair Corr
0.57	HY	Hyster Yale Materials	Pair Corr
0.52	AZ	A2Z Smart Technologies Tech Boost	Pair Corr
0.52	688700	Kunshan Dongwei Tech	Pair Corr
0.81	FLO	Flowtech Fluidpower plc	Pair Corr
0.79	002021	Zoje Resources Investment	Pair Corr
0.76	301022	Qingdao Hi Tech	Pair Corr
0.75	300786	Guolin Environmental Tech	Pair Corr
0.75	300976	Dongguan Tarry Elect	Pair Corr
0.64	688531	Uxi Unicomp Technology	Pair Corr
0.53	600243	Qinghaihuading Industrial	Pair Corr
0.44	002786	Shenzhen Silver Basis	Pair Corr
0.32	JCSE	JE Cleantech Holdings Buyout Trend	Pair Corr

Related Correlations Analysis

	AOS	WTS	RRX	DCI	GNRC	AIT	PSN	SPXC	POOL	GTLS
AOS		0.67	0.59	-0.12	0.4	0.38	-0.07	-0.5	0.57	-0.13	AOS
WTS	0.67		0.57	0.3	0.0	0.65	-0.38	-0.08	0.1	0.21	WTS
RRX	0.59	0.57		0.27	0.27	0.58	-0.31	-0.12	0.18	0.17	RRX
DCI	-0.12	0.3	0.27		-0.64	0.62	-0.78	0.66	-0.83	0.88	DCI
GNRC	0.4	0.0	0.27	-0.64		-0.2	0.52	-0.55	0.83	-0.73	GNRC
AIT	0.38	0.65	0.58	0.62	-0.2		-0.54	0.39	-0.26	0.39	AIT
PSN	-0.07	-0.38	-0.31	-0.78	0.52	-0.54		-0.32	0.66	-0.79	PSN
SPXC	-0.5	-0.08	-0.12	0.66	-0.55	0.39	-0.32		-0.73	0.44	SPXC
POOL	0.57	0.1	0.18	-0.83	0.83	-0.26	0.66	-0.73		-0.83	POOL
GTLS	-0.13	0.21	0.17	0.88	-0.73	0.39	-0.79	0.44	-0.83		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

GTLS	+ 0.88	DCI
POOL	+ 0.83	GNRC
WTS	+ 0.67	AOS
SPXC	+ 0.66	DCI
POOL	+ 0.66	PSN
AIT	+ 0.65	WTS

High negative correlations

GTLS	- 0.83	POOL
POOL	- 0.83	DCI
GTLS	- 0.79	PSN
PSN	- 0.78	DCI
POOL	- 0.73	SPXC
GTLS	- 0.73	GNRC

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	0.96	(0.18)	0.00	(0.10)	0.00	0.00	2.06	(2.21)	5.66
WTS	1.03	(0.08)	(0.04)	0.02	1.41	(1.25)	2.75	(1.72)	9.37
RRX	2.11	0.00	0.03	0.08	2.37	(2.43)	4.12	(3.90)	10.43
DCI	1.00	0.08	0.07	0.17	0.92	(1.11)	2.21	(1.84)	9.29
GNRC	2.43	(0.40)	0.00	(0.08)	0.00	0.00	4.15	(5.41)	13.91
AIT	1.02	(0.05)	(0.03)	0.04	1.29	(0.98)	2.64	(2.04)	7.04
PSN	1.76	(0.48)	0.00	(0.32)	0.00	0.00	3.15	(3.89)	25.78
SPXC	1.73	0.05	0.05	0.11	1.80	(1.92)	3.71	(3.22)	17.00
POOL	1.25	(0.49)	0.00	(0.34)	0.00	0.00	2.91	(2.25)	6.57
GTLS	0.10	0.03	(0.44)	0.83	0.00	(0.12)	0.23	(0.18)	1.32

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