Chart Industries Correlations

GTLS Stock

USD 207.37 0.21 0.10%

The current 90-days correlation between Chart Industries and Watts Water Technologies is 0.06 (i.e., Significant diversification). The correlation of Chart Industries 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.

Chart Industries Correlation With Market

Almost no diversification

The correlation between Chart Industries and DJI is 0.91 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Chart Industries and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Chart Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Chart Industries. 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 Chart Stock please use our How to Invest in Chart Industries guide.

Moving together with Chart Stock

0.73	0ACC	Accelleron Industries	Pair Corr
0.9	FUCA	FANUC PUNSPADR 110	Pair Corr
0.72	CR	Crane Company	Pair Corr
0.91	HI	Hillenbrand	Pair Corr
0.7	HY	Hyster Yale Materials Earnings Call This Week	Pair Corr
0.77	IR	Ingersoll Rand	Pair Corr
0.84	PH	Parker Hannifin	Pair Corr
0.93	PL	Planet Labs PBC Aggressive Push	Pair Corr
0.89	TE	T1 Energy Earnings Call Tomorrow	Pair Corr
0.77	OSG	OSG Corporation	Pair Corr
0.95	21T	Bodycote PLC	Pair Corr
0.8	KC4	KONE Oyj	Pair Corr
0.88	JUN3	Jungheinrich AG ONVZO	Pair Corr
0.66	MBH3	Maschinenfabrik Berthold	Pair Corr
0.89	NVJP	Umicore SA	Pair Corr
0.64	EAAS	Eenergy Group PLC	Pair Corr
0.86	IMI1	IMI plc	Pair Corr
0.62	CE3	Chongqing Machinery	Pair Corr
0.73	HZ8	Insteel Industries	Pair Corr
0.74	DZR	AVINGTRANS LS 05	Pair Corr
0.81	TWN	Twin Disc	Pair Corr
0.91	NDX1	Nordex SE Earnings Call Today	Pair Corr
0.87	PFV	Pfeiffer Vacuum Tech	Pair Corr

Moving against Chart Stock

0.74	FQ4	OCEAN GEOLOOP AS	Pair Corr
0.61	74Z	BOA CEPT SA	Pair Corr
0.6	INRN	Interroll Holding	Pair Corr
0.7	D7G	Nel ASA Earnings Call Tomorrow	Pair Corr
0.89	EPOW	Sunrise New Energy	Pair Corr
0.77	7YA	M VEST WATER	Pair Corr
0.54	WATR	Current Water Techno	Pair Corr

Related Correlations Analysis

	WTS	RRX	AOS	FLS	PSN	GNRC	DCI	SPXC	MIR	AIT
WTS		0.93	0.95	0.97	-0.36	0.88	0.95	0.83	-0.47	0.82	WTS
RRX	0.93		0.94	0.96	-0.33	0.9	0.9	0.88	-0.54	0.76	RRX
AOS	0.95	0.94		0.95	-0.4	0.83	0.97	0.78	-0.37	0.86	AOS
FLS	0.97	0.96	0.95		-0.33	0.93	0.95	0.88	-0.43	0.81	FLS
PSN	-0.36	-0.33	-0.4	-0.33		-0.24	-0.33	-0.25	0.35	-0.35	PSN
GNRC	0.88	0.9	0.83	0.93	-0.24		0.84	0.93	-0.5	0.65	GNRC
DCI	0.95	0.9	0.97	0.95	-0.33	0.84		0.77	-0.27	0.87	DCI
SPXC	0.83	0.88	0.78	0.88	-0.25	0.93	0.77		-0.49	0.64	SPXC
MIR	-0.47	-0.54	-0.37	-0.43	0.35	-0.5	-0.27	-0.49		-0.1	MIR
AIT	0.82	0.76	0.86	0.81	-0.35	0.65	0.87	0.64	-0.1		AIT
	WTS	RRX	AOS	FLS	PSN	GNRC	DCI	SPXC	MIR	AIT

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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

FLS	+ 0.97	WTS
DCI	+ 0.97	AOS
FLS	+ 0.96	RRX
AOS	+ 0.95	WTS
DCI	+ 0.95	WTS
FLS	+ 0.95	AOS

High negative correlations

MIR	- 0.54	RRX
MIR	- 0.5	GNRC
MIR	- 0.49	SPXC
MIR	- 0.47	WTS
MIR	- 0.43	FLS
PSN	- 0.4	AOS

Risk-Adjusted Indicators

There is a big difference between Chart Stock performing well and Chart Industries 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 Chart Industries' 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
WTS	1.10	0.25	0.24	0.39	0.67	(1.37)	2.85	(1.44)	9.08
RRX	2.14	0.72	0.35	0.56	1.56	(2.58)	5.90	(3.75)	16.86
AOS	1.11	0.22	0.18	0.30	0.81	(1.24)	2.66	(1.62)	7.53
FLS	1.20	0.37	0.35	0.35	0.64	(1.46)	2.55	(1.72)	9.45
PSN	2.10	(0.38)	0.00	(0.38)	0.00	0.00	3.68	(3.89)	22.97
GNRC	2.40	0.65	0.27	0.46	2.08	(2.86)	5.37	(4.12)	20.12
DCI	1.17	0.27	0.26	0.40	0.64	(1.45)	2.43	(1.66)	9.31
SPXC	1.43	0.17	0.09	0.24	1.52	(1.50)	3.28	(2.93)	8.41
MIR	2.14	(0.25)	0.00	(0.91)	0.00	0.00	4.75	(5.39)	17.24
AIT	1.22	0.12	0.08	0.18	1.69	(1.27)	2.73	(2.32)	10.01

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