Chart Industries Correlations

GTLS Stock

USD 206.22 0.04 0.02%

The current 90-days correlation between Chart Industries and Watts Water Technologies is 0.27 (i.e., Modest 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

Modest diversification

The correlation between Chart Industries and DJI is 0.25 (i.e., Modest 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

0.93	PH	Parker Hannifin	Pair Corr
0.77	RFG	Roebuck Food Group	Pair Corr
0.74	FLS	Flowserve	Pair Corr
0.86	WWD	Woodward	Pair Corr
0.63	FTAIN	Fortress Transportation	Pair Corr
0.79	PRV	Porvair plc	Pair Corr

Moving against Chart Stock

0.8	603109	Senci Electric Machinery	Pair Corr
0.8	HYFM	Hydrofarm Holdings	Pair Corr
0.8	ILAG	Intelligent Living	Pair Corr
0.74	605259	Lutian Machinery	Pair Corr
0.7	301053	Yoantion Industrial	Pair Corr
0.64	HY	Hyster Yale Materials	Pair Corr
0.63	688700	Kunshan Dongwei Tech	Pair Corr
0.53	300956	Anhui Shiny Electronic	Pair Corr
0.51	AZ	A2Z Smart Technologies Buyout Trend	Pair Corr
0.36	002757	Nanxing Furniture	Pair Corr
0.35	600666	Aurora Optoelectronics	Pair Corr
0.8	002021	Zoje Resources Investment	Pair Corr
0.8	300976	Dongguan Tarry Elect	Pair Corr
0.79	301022	Qingdao Hi Tech	Pair Corr
0.74	002786	Shenzhen Silver Basis	Pair Corr
0.7	FLO	Flowtech Fluidpower plc	Pair Corr
0.63	600243	Qinghaihuading Industrial	Pair Corr
0.62	688531	Uxi Unicomp Technology	Pair Corr
0.61	300786	Guolin Environmental Tech	Pair Corr
0.6	301048	Gemac Engineering	Pair Corr
0.49	JCSE	JE Cleantech Holdings Buyout Trend	Pair Corr

Related Correlations Analysis

	WTS	RRX	AOS	FLS	PSN	GNRC	DCI	SPXC	MIR	AIT
WTS		0.54	0.65	-0.07	-0.41	0.03	0.27	-0.1	-0.26	0.64	WTS
RRX	0.54		0.58	-0.08	-0.27	0.32	0.22	-0.14	-0.07	0.56	RRX
AOS	0.65	0.58		-0.53	-0.04	0.41	-0.17	-0.53	-0.43	0.37	AOS
FLS	-0.07	-0.08	-0.53		-0.56	-0.74	0.83	0.87	0.36	0.41	FLS
PSN	-0.41	-0.27	-0.04	-0.56		0.53	-0.76	-0.33	0.22	-0.56	PSN
GNRC	0.03	0.32	0.41	-0.74	0.53		-0.63	-0.54	0.14	-0.18	GNRC
DCI	0.27	0.22	-0.17	0.83	-0.76	-0.63		0.67	-0.01	0.59	DCI
SPXC	-0.1	-0.14	-0.53	0.87	-0.33	-0.54	0.67		0.52	0.38	SPXC
MIR	-0.26	-0.07	-0.43	0.36	0.22	0.14	-0.01	0.52		0.08	MIR
AIT	0.64	0.56	0.37	0.41	-0.56	-0.18	0.59	0.38	0.08		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

SPXC	+ 0.87	FLS
DCI	+ 0.83	FLS
SPXC	+ 0.67	DCI
AOS	+ 0.65	WTS
AIT	+ 0.64	WTS
AIT	+ 0.59	DCI

High negative correlations

DCI	- 0.76	PSN
GNRC	- 0.74	FLS
DCI	- 0.63	GNRC
AIT	- 0.56	PSN
PSN	- 0.56	FLS
SPXC	- 0.54	GNRC

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	1.03	(0.07)	(0.04)	0.02	1.41	(1.24)	2.75	(1.72)	9.37
RRX	2.02	(0.05)	0.00	0.04	2.39	(2.24)	4.09	(3.90)	10.43
AOS	0.96	(0.16)	0.00	(0.09)	0.00	0.00	2.06	(2.21)	5.66
FLS	1.81	0.46	0.28	0.45	1.27	(2.25)	2.55	(2.65)	34.18
PSN	1.74	(0.48)	0.00	(0.33)	0.00	0.00	2.85	(3.89)	25.78
GNRC	2.42	(0.33)	0.00	(0.06)	0.00	0.00	4.15	(5.41)	13.91
DCI	0.99	0.09	0.08	0.17	0.93	(1.10)	2.21	(1.84)	9.29
SPXC	1.72	0.06	0.05	0.11	1.83	(1.90)	3.71	(3.22)	17.00
MIR	2.41	(0.03)	0.02	0.06	3.23	(2.50)	4.75	(5.41)	30.28
AIT	1.01	(0.04)	(0.03)	0.03	1.30	(0.97)	2.64	(2.04)	7.04

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