Gorman Rupp Correlations

GRC Stock

USD 64.52 1.17 1.78%

The current 90-days correlation between Gorman Rupp and China Yuchai International is 0.22 (i.e., Modest diversification). The correlation of Gorman Rupp 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.

Gorman Rupp Correlation With Market

Poor diversification

The correlation between Gorman Rupp and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gorman Rupp and DJI in the same portfolio, assuming nothing else is changed.

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Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Gorman Rupp. 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 Gorman Stock refer to our How to Trade Gorman Stock guide.

Moving together with Gorman Stock

0.83	0ACC	Accelleron Industries	Pair Corr
0.65	FUCA	FANUC PUNSPADR 110	Pair Corr
0.85	HI	Hillenbrand	Pair Corr
0.87	HY	Hyster Yale Materials Downward Rally	Pair Corr
0.96	IR	Ingersoll Rand	Pair Corr
0.94	PH	Parker Hannifin	Pair Corr
0.94	OSG	OSG Corporation	Pair Corr
0.75	21T	Bodycote PLC	Pair Corr
0.68	4RX0	ZURN ELKAY WATER	Pair Corr
0.61	JUN3	Jungheinrich AG ONVZO	Pair Corr
0.9	EAAS	Eenergy Group PLC	Pair Corr
0.77	STGN	Starrag Group Holding	Pair Corr
0.89	IMI1	IMI plc	Pair Corr
0.85	CE3	Chongqing Machinery	Pair Corr
0.93	HZ8	Insteel Industries	Pair Corr
0.82	DZR	AVINGTRANS LS 05 Earnings Call Tomorrow	Pair Corr
0.61	TWN	Twin Disc	Pair Corr
0.72	NDX1	Nordex SE Earnings Call This Week	Pair Corr
0.86	PFV	Pfeiffer Vacuum Tech	Pair Corr

Moving against Gorman Stock

0.73	INRN	Interroll Holding	Pair Corr
0.59	FQ4	OCEAN GEOLOOP AS	Pair Corr
0.31	RR	Richtech Robotics Class	Pair Corr
0.6	D7G	Nel ASA Earnings Call This Week	Pair Corr
0.38	WATR	Current Water Techno	Pair Corr
0.77	EPOW	Sunrise New Energy	Pair Corr
0.74	7YA	M VEST WATER	Pair Corr
0.33	WAH	WOLFTANK ADISA HLDG	Pair Corr

Related Correlations Analysis

	CYD	LNN	THR	TNC	BLDP	CCEC	ASTE	CRAI	GIC	HSII
CYD		0.88	0.93	0.85	-0.82	0.7	0.93	-0.36	0.81	0.63	CYD
LNN	0.88		0.94	0.96	-0.83	0.65	0.95	-0.17	0.93	0.67	LNN
THR	0.93	0.94		0.9	-0.87	0.71	0.97	-0.35	0.87	0.61	THR
TNC	0.85	0.96	0.9		-0.74	0.68	0.94	-0.08	0.95	0.68	TNC
BLDP	-0.82	-0.83	-0.87	-0.74		-0.61	-0.86	0.49	-0.73	-0.58	BLDP
CCEC	0.7	0.65	0.71	0.68	-0.61		0.67	-0.23	0.58	0.52	CCEC
ASTE	0.93	0.95	0.97	0.94	-0.86	0.67		-0.35	0.88	0.6	ASTE
CRAI	-0.36	-0.17	-0.35	-0.08	0.49	-0.23	-0.35		0.07	0.28	CRAI
GIC	0.81	0.93	0.87	0.95	-0.73	0.58	0.88	0.07		0.8	GIC
HSII	0.63	0.67	0.61	0.68	-0.58	0.52	0.6	0.28	0.8		HSII
	CYD	LNN	THR	TNC	BLDP	CCEC	ASTE	CRAI	GIC	HSII

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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

ASTE	+ 0.97	THR
TNC	+ 0.96	LNN
ASTE	+ 0.95	LNN
GIC	+ 0.95	TNC
THR	+ 0.94	LNN
ASTE	+ 0.94	TNC

High negative correlations

BLDP	- 0.87	THR
ASTE	- 0.86	BLDP
BLDP	- 0.83	LNN
BLDP	- 0.82	CYD
BLDP	- 0.74	TNC
GIC	- 0.73	BLDP

Risk-Adjusted Indicators

There is a big difference between Gorman Stock performing well and Gorman Rupp 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 Gorman Rupp'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
CYD	1.90	0.62	0.28	0.93	1.50	(2.17)	5.02	(2.77)	13.57
LNN	1.25	0.27	0.17	0.41	1.19	(1.39)	2.78	(2.00)	8.40
THR	1.69	0.50	0.30	0.48	1.26	(2.05)	4.80	(2.28)	9.12
TNC	1.18	0.13	0.12	0.16	1.13	(1.36)	3.32	(1.98)	7.68
BLDP	2.17	(0.67)	0.00	(0.24)	0.00	0.00	3.96	(5.88)	14.07
CCEC	1.56	0.20	0.06	(3.58)	1.74	(1.67)	4.46	(3.08)	8.78
ASTE	1.75	0.32	0.22	0.23	1.36	(1.98)	4.37	(2.77)	7.79
CRAI	1.95	(0.20)	0.00	(0.07)	0.00	0.00	3.15	(5.64)	13.34
GIC	0.99	0.18	0.16	0.24	0.92	(1.14)	2.67	(1.69)	5.97
HSII	0.80	0.27	0.21	(4.91)	0.30	(0.86)	0.90	(1.41)	19.72

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