Chart Industries Correlations

GTLS Stock

USD 189.73 5.93 3.23%

The current 90-days correlation between Chart Industries and Crane NXT Co is 0.48 (i.e., Very weak 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

Poor diversification

The correlation between Chart Industries and DJI is 0.64 (i.e., Poor 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.

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 bureau of economic analysis.

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

Moving together with Chart Stock

0.96	CR	Crane Company	Pair Corr
0.61	HI	Hillenbrand	Pair Corr
0.73	IR	Ingersoll Rand	Pair Corr
0.93	PH	Parker Hannifin Sell-off Trend	Pair Corr
0.91	EPAC	Enerpac Tool Group	Pair Corr
0.72	FELE	Franklin Electric	Pair Corr
0.97	AME	Ametek Inc Sell-off Trend	Pair Corr
0.89	CMI	Cummins	Pair Corr
0.84	DCI	Donaldson Earnings Call This Week	Pair Corr
0.85	DOV	Dover	Pair Corr
0.97	EMR	Emerson Electric	Pair Corr
0.79	ETN	Eaton PLC Sell-off Trend	Pair Corr
0.88	FLS	Flowserve	Pair Corr
0.8	GGG	Graco Inc	Pair Corr
0.91	GHM	Graham	Pair Corr
0.9	GRC	Gorman Rupp	Pair Corr
0.92	IEX	IDEX	Pair Corr
0.7	ITT	ITT Inc	Pair Corr
0.84	ITW	Illinois Tool Works	Pair Corr
0.79	JBT	John Bean Technologies	Pair Corr
0.98	KAI	Kadant Inc	Pair Corr
0.77	MIR	Mirion Technologies	Pair Corr
0.92	MWA	Mueller Water Products Fiscal Year End 11th of December 2024	Pair Corr
0.96	XMTR	Xometry	Pair Corr
0.72	NNE	Nano Nuclear Energy	Pair Corr
0.74	NPO	Enpro Industries	Pair Corr
0.79	PNR	Pentair PLC	Pair Corr
0.86	ROK	Rockwell Automation	Pair Corr
0.63	RRX	Regal Beloit	Pair Corr

Moving against Chart Stock

0.81	CYD	China Yuchai Interna	Pair Corr
0.59	AOS	Smith AO	Pair Corr
0.58	CVV	CVD Equipment	Pair Corr
0.52	RR	Richtech Robotics Class	Pair Corr
0.78	IVAC	Intevac	Pair Corr
0.65	XYL	Xylem Inc	Pair Corr

Related Correlations Analysis

	CXT	DCI	CIR	ITT	FELE	GGG	IEX	IR	JBT	HLIO
CXT		-0.03	-0.36	-0.12	0.11	0.05	-0.06	-0.13	-0.29	-0.2	CXT
DCI	-0.03		0.76	0.79	0.77	0.71	0.84	0.81	0.81	0.89	DCI
CIR	-0.36	0.76		0.67	0.46	0.53	0.75	0.73	0.88	0.83	CIR
ITT	-0.12	0.79	0.67		0.85	0.89	0.81	0.97	0.67	0.89	ITT
FELE	0.11	0.77	0.46	0.85		0.85	0.74	0.81	0.48	0.79	FELE
GGG	0.05	0.71	0.53	0.89	0.85		0.85	0.87	0.56	0.79	GGG
IEX	-0.06	0.84	0.75	0.81	0.74	0.85		0.83	0.81	0.89	IEX
IR	-0.13	0.81	0.73	0.97	0.81	0.87	0.83		0.72	0.91	IR
JBT	-0.29	0.81	0.88	0.67	0.48	0.56	0.81	0.72		0.84	JBT
HLIO	-0.2	0.89	0.83	0.89	0.79	0.79	0.89	0.91	0.84		HLIO
	CXT	DCI	CIR	ITT	FELE	GGG	IEX	IR	JBT	HLIO

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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

IR	+ 0.97	ITT
HLIO	+ 0.91	IR
HLIO	+ 0.89	DCI
GGG	+ 0.89	ITT
HLIO	+ 0.89	ITT
HLIO	+ 0.89	IEX

High negative correlations

CIR	- 0.36	CXT
JBT	- 0.29	CXT
HLIO	- 0.2	CXT
IR	- 0.13	CXT
ITT	- 0.12	CXT
IEX	- 0.06	CXT

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
CXT	1.27	(0.11)	(0.01)	0.06	1.90	(1.20)	3.21	(2.41)	10.37
DCI	0.81	(0.04)	(0.05)	0.08	0.96	(0.92)	1.89	(1.67)	4.88
CIR	2.74	1.22	0.71	(7.97)	0.48	(3.80)	7.45	(2.85)	51.68
ITT	1.18	0.05	0.09	0.15	1.17	(1.36)	2.61	(1.53)	9.06
FELE	1.19	(0.08)	0.01	0.08	1.44	(1.37)	2.34	(1.54)	11.41
GGG	0.88	0.03	0.05	0.15	0.81	(0.99)	1.69	(1.47)	7.51
IEX	1.08	0.10	0.12	0.20	0.79	(1.39)	2.38	(1.74)	9.79
IR	1.18	0.05	0.07	0.15	1.11	(1.32)	3.27	(2.10)	7.21
JBT	1.82	0.44	0.21	0.68	1.45	(2.00)	3.84	(2.61)	21.44
HLIO	1.67	0.06	0.12	0.15	1.70	(1.92)	4.35	(2.70)	19.40

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