Garrett Motion Correlations

GTX Stock

USD 20.46 0.16 0.79%

The current 90-days correlation between Garrett Motion and Gentex is -0.01 (i.e., Good diversification). The correlation of Garrett Motion 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.

Garrett Motion Correlation With Market

Very poor diversification

The correlation between Garrett Motion and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Garrett Motion and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Garrett Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Garrett Motion. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

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

Moving together with Garrett Stock

0.65	GTX	Gentex	Pair Corr
0.72	60V	KYB PORATION	Pair Corr
0.72	C31	Cooper Standard Holdings	Pair Corr
0.8	XDH	Xingda International	Pair Corr
0.74	P4N	Polytec Holding AG	Pair Corr
0.87	VSA2	Valeo SA	Pair Corr
0.84	SRU	Standard Motor Products	Pair Corr
0.77	7FZ	INTER CARS SA Earnings Call This Week	Pair Corr
0.88	KBX	Knorr Bremse AG	Pair Corr
0.85	7GA	Gestamp Automoción	Pair Corr
0.89	ML	Compagnie Generale des	Pair Corr
0.71	SSA	Spectra	Pair Corr
0.89	FR	Valeo SA	Pair Corr
0.89	TYT	Toyota Motor Corp	Pair Corr
0.91	1A7	Allison Transmission	Pair Corr
0.62	STAA	Stanley Electric	Pair Corr
0.88	TY7	Toyota Boshoku	Pair Corr
0.69	ALV	Autoliv	Pair Corr
0.82	AXL	American Axle Manufa Symbol Change	Pair Corr
0.93	BWA	BorgWarner	Pair Corr
0.82	FOXF	Fox Factory Holding	Pair Corr
0.78	CPS	Cooper Stnd	Pair Corr
0.91	DAN	Dana Inc	Pair Corr
0.67	K3A	Kongsberg Automotive ASA	Pair Corr

Moving against Garrett Stock

0.84	QS	QuantumScape Class	Pair Corr
0.67	KC7	AMA Group Limited	Pair Corr
0.52	PWO	Progress Werk Oberkirch	Pair Corr
0.79	WKSP	Worksport	Pair Corr
0.78	WKHS	Workhorse Group	Pair Corr
0.61	JOHB	Johnson Electric Holdings	Pair Corr
0.57	MW4	Akwel SA	Pair Corr
0.43	GEF	SOGEFI	Pair Corr
0.41	HGEA	hGears AG	Pair Corr
0.35	PGN	paragon GmbH	Pair Corr
0.84	FRSX	Foresight Autonomous	Pair Corr
0.76	GGR	Gogoro Inc	Pair Corr

Related Correlations Analysis

	GTX	QS	60V	C31	XDH	PWO	P4N	VSA2
GTX		-0.54	0.47	0.6	0.51	-0.12	0.42	0.63	GTX
QS	-0.54		-0.72	-0.75	-0.83	0.72	-0.78	-0.86	QS
60V	0.47	-0.72		0.81	0.52	-0.53	0.39	0.68	60V
C31	0.6	-0.75	0.81		0.47	-0.37	0.34	0.69	C31
XDH	0.51	-0.83	0.52	0.47		-0.74	0.89	0.83	XDH
PWO	-0.12	0.72	-0.53	-0.37	-0.74		-0.74	-0.59	PWO
P4N	0.42	-0.78	0.39	0.34	0.89	-0.74		0.77	P4N
VSA2	0.63	-0.86	0.68	0.69	0.83	-0.59	0.77		VSA2
	GTX	QS	60V	C31	XDH	PWO	P4N	VSA2

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

P4N	+ 0.89	XDH
VSA2	+ 0.83	XDH
C31	+ 0.81	60V
VSA2	+ 0.77	P4N
PWO	+ 0.72	QS
VSA2	+ 0.69	C31

High negative correlations

VSA2	- 0.86	QS
XDH	- 0.83	QS
P4N	- 0.78	QS
C31	- 0.75	QS
P4N	- 0.74	PWO
PWO	- 0.74	XDH

Risk-Adjusted Indicators

There is a big difference between Garrett Stock performing well and Garrett Motion 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 Garrett Motion'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
GTX	1.25	0.04	(0.03)	0.24	1.28	(1.61)	3.02	(1.98)	6.56
QS	2.97	(0.91)	0.00	(0.28)	0.00	0.00	6.14	(8.22)	21.05
60V	1.17	0.25	0.10	0.90	1.11	(1.63)	2.52	(2.44)	7.19
C31	2.39	0.43	0.09	(2.97)	2.72	(3.05)	5.07	(4.65)	30.71
XDH	0.96	0.20	0.00	0.43	0.00	0.00	7.69	0.00	16.23
PWO	1.33	(0.16)	0.00	(0.95)	0.00	0.00	2.78	(3.57)	8.97
P4N	1.52	0.30	0.10	2.24	1.53	(1.93)	4.44	(3.35)	14.96
VSA2	1.71	0.21	0.01	(0.25)	2.57	(1.86)	4.23	(3.08)	10.91

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