IDEX Correlations

IEX Stock

USD 232.50 5.05 2.22%

The current 90-days correlation between IDEX and Flowserve is 0.44 (i.e., Very weak diversification). The correlation of IDEX 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.

IDEX Correlation With Market

Poor diversification

The correlation between IDEX Corp. and DJI is 0.6 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding IDEX Corp. 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 IDEX Corporation. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with IDEX Stock

0.65	B	Barnes Group	Pair Corr
0.93	CR	Crane Company	Pair Corr
0.83	IR	Ingersoll Rand	Pair Corr
0.95	PH	Parker Hannifin	Pair Corr
0.9	EPAC	Enerpac Tool Group	Pair Corr
0.74	FELE	Franklin Electric	Pair Corr
0.92	AME	Ametek Inc	Pair Corr
0.9	CMI	Cummins	Pair Corr
0.84	DCI	Donaldson Earnings Call This Week	Pair Corr
0.92	DOV	Dover	Pair Corr
0.93	EMR	Emerson Electric	Pair Corr
0.85	ETN	Eaton PLC	Pair Corr
0.9	FLS	Flowserve	Pair Corr
0.85	GGG	Graco Inc	Pair Corr
0.74	GHM	Graham	Pair Corr
0.87	GRC	Gorman Rupp	Pair Corr
0.81	ITT	ITT Inc	Pair Corr
0.96	ITW	Illinois Tool Works	Pair Corr
0.81	JBT	John Bean Technologies	Pair Corr
0.93	KAI	Kadant Inc	Pair Corr
0.77	MIR	Mirion Technologies	Pair Corr
0.9	MWA	Mueller Water Products Fiscal Year End 11th of December 2024	Pair Corr
0.85	XMTR	Xometry	Pair Corr
0.74	NNE	Nano Nuclear Energy Trending	Pair Corr
0.67	NPO	Enpro Industries	Pair Corr
0.87	PNR	Pentair PLC	Pair Corr
0.84	ROK	Rockwell Automation	Pair Corr
0.73	RRX	Regal Beloit	Pair Corr

Moving against IDEX Stock

0.7	CVV	CVD Equipment	Pair Corr
0.64	RR	Richtech Robotics Class	Pair Corr
0.61	CYD	China Yuchai Interna	Pair Corr
0.41	AOS	Smith AO	Pair Corr
0.66	IVAC	Intevac	Pair Corr
0.58	XYL	Xylem Inc	Pair Corr

Related Correlations Analysis

	FLS	DCI	IR	FELE	WTS	GRC	EPAC	DOV	CR	GGG
FLS		0.89	0.9	0.77	0.77	0.83	0.92	0.89	0.9	0.8	FLS
DCI	0.89		0.81	0.77	0.65	0.85	0.89	0.85	0.82	0.71	DCI
IR	0.9	0.81		0.81	0.9	0.78	0.81	0.9	0.79	0.87	IR
FELE	0.77	0.77	0.81		0.84	0.86	0.69	0.76	0.74	0.85	FELE
WTS	0.77	0.65	0.9	0.84		0.74	0.67	0.84	0.72	0.93	WTS
GRC	0.83	0.85	0.78	0.86	0.74		0.83	0.86	0.92	0.84	GRC
EPAC	0.92	0.89	0.81	0.69	0.67	0.83		0.9	0.89	0.73	EPAC
DOV	0.89	0.85	0.9	0.76	0.84	0.86	0.9		0.88	0.88	DOV
CR	0.9	0.82	0.79	0.74	0.72	0.92	0.89	0.88		0.83	CR
GGG	0.8	0.71	0.87	0.85	0.93	0.84	0.73	0.88	0.83		GGG
	FLS	DCI	IR	FELE	WTS	GRC	EPAC	DOV	CR	GGG

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Risk-Adjusted Indicators

There is a big difference between IDEX Stock performing well and IDEX 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 IDEX'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
FLS	1.39	0.17	0.16	0.22	1.21	(1.55)	3.04	(2.22)	10.24
DCI	0.81	(0.04)	(0.05)	0.08	0.96	(0.92)	1.89	(1.67)	4.88
IR	1.18	0.05	0.07	0.15	1.11	(1.32)	3.27	(2.10)	7.21
FELE	1.19	(0.08)	0.01	0.08	1.44	(1.37)	2.34	(1.54)	11.41
WTS	1.05	0.04	0.08	0.15	1.04	(1.24)	2.15	(1.66)	8.63
GRC	1.34	(0.05)	0.04	0.09	1.50	(1.49)	2.41	(2.42)	11.59
EPAC	1.17	0.12	0.14	0.20	1.06	(1.36)	2.84	(1.91)	12.71
DOV	1.11	0.02	0.06	0.14	1.00	(1.41)	2.20	(1.90)	6.51
CR	1.45	0.16	0.10	0.25	1.69	(1.72)	3.45	(2.72)	9.45
GGG	0.88	0.03	0.05	0.15	0.81	(0.99)	1.69	(1.47)	7.51

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