Garrett Motion Correlations

GTX Stock

USD 17.96 0.58 3.34%

The current 90-days correlation between Garrett Motion and Visteon Corp is -0.09 (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

Significant diversification

The correlation between Garrett Motion and DJI is 0.02 (i.e., Significant 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 persons.

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

Moving together with Garrett Stock

0.84	AXL	American Axle Manufa	Pair Corr
0.72	002454	Songz Automobile Air	Pair Corr

Moving against Garrett Stock

0.82	VC	Visteon Corp	Pair Corr
0.81	SES	SES AI Corp Buyout Trend	Pair Corr
0.75	LIDR	Aeye Inc	Pair Corr
0.64	WKSP	Worksport	Pair Corr
0.54	EVTV	Envirotech Vehicles	Pair Corr
0.53	FOXF	Fox Factory Holding	Pair Corr
0.53	600698	Hunan Tyen Machinery	Pair Corr
0.53	002265	Yunnan Xiyi Industrial	Pair Corr
0.48	SMP	Standard Motor Products	Pair Corr
0.37	ECX	ECARX Holdings Class	Pair Corr
0.79	MBLY	Mobileye Global Class	Pair Corr
0.76	MTEN	Mingteng International	Pair Corr
0.49	AEVA	Aeva Technologies Common	Pair Corr
0.46	605128	Shanghai Yanpu Metal	Pair Corr
0.38	MPAA	Motorcar Parts	Pair Corr
0.36	301397	Chongqing Sulian Plastic	Pair Corr
0.34	CAAS	China Automotive Systems	Pair Corr
0.32	600114	NBTM New Materials	Pair Corr

Related Correlations Analysis

	VC	RUSHA	DORM	HOG	CARG	PVH	HSAI	DAN	MHO
VC		-0.45	0.8	0.84	-0.5	0.7	0.41	-0.79	0.43	VC
RUSHA	-0.45		-0.45	-0.7	0.82	-0.41	0.06	0.67	0.32	RUSHA
DORM	0.8	-0.45		0.84	-0.38	0.74	0.35	-0.71	0.28	DORM
HOG	0.84	-0.7	0.84		-0.71	0.82	0.28	-0.82	0.19	HOG
CARG	-0.5	0.82	-0.38	-0.71		-0.53	0.15	0.73	0.09	CARG
PVH	0.7	-0.41	0.74	0.82	-0.53		0.03	-0.64	0.55	PVH
HSAI	0.41	0.06	0.35	0.28	0.15	0.03		-0.09	0.04	HSAI
DAN	-0.79	0.67	-0.71	-0.82	0.73	-0.64	-0.09		-0.12	DAN
MHO	0.43	0.32	0.28	0.19	0.09	0.55	0.04	-0.12		MHO
	VC	RUSHA	DORM	HOG	CARG	PVH	HSAI	DAN	MHO

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

HOG	+ 0.84	VC
HOG	+ 0.84	DORM
CARG	+ 0.82	RUSHA
PVH	+ 0.82	HOG
DORM	+ 0.8	VC
PVH	+ 0.74	DORM

High negative correlations

DAN	- 0.82	HOG
DAN	- 0.79	VC
CARG	- 0.71	HOG
DAN	- 0.71	DORM
HOG	- 0.7	RUSHA
DAN	- 0.64	PVH

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
VC	1.40	0.00	0.00	0.00	0.00	0.00	2.51	(3.53)	7.71
RUSHA	1.23	0.22	0.08	(0.59)	1.40	(1.45)	3.09	(1.66)	10.82
DORM	1.36	(0.20)	0.00	(2.66)	0.00	0.00	3.69	(2.64)	13.70
HOG	1.36	(0.41)	0.00	12.66	0.00	0.00	2.41	(3.40)	9.20
CARG	1.33	0.08	0.02	0.24	1.55	(1.46)	2.94	(2.80)	9.21
PVH	1.96	(0.29)	0.00	(5.35)	0.00	0.00	4.58	(4.20)	17.23
HSAI	3.44	(0.09)	0.00	(0.10)	0.00	0.00	7.50	(8.17)	25.45
DAN	1.67	0.00	0.22	0.00	1.43	(1.95)	5.01	(3.03)	11.78
MHO	1.34	(0.09)	0.00	(4.11)	0.00	0.00	4.44	(3.54)	10.58

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