Johnson Controls Correlations

JCI Stock

USD 83.97 0.99 1.19%

The current 90-days correlation between Johnson Controls Int and Carrier Global Corp is 0.47 (i.e., Very weak diversification). The correlation of Johnson Controls 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.

Johnson Controls Correlation With Market

Very poor diversification

The correlation between Johnson Controls International and DJI is 0.8 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Johnson Controls International 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 Johnson Controls International. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Johnson Stock

0.7	NX	Quanex Building Products Fiscal Year End 12th of December 2024	Pair Corr
0.91	OC	Owens Corning	Pair Corr
0.92	TT	Trane Technologies plc	Pair Corr
0.94	AWI	Armstrong World Indu	Pair Corr
0.66	CSL	Carlisle Companies	Pair Corr
0.83	GMS	GMS Inc	Pair Corr
0.81	LII	Lennox International	Pair Corr
0.89	LPX	Louisiana Pacific	Pair Corr
0.83	PPIH	Perma Pipe Internati	Pair Corr
0.97	AAON	AAON Inc	Pair Corr
0.89	APOG	Apogee Enterprises	Pair Corr
0.75	AZEK	Azek Company Fiscal Year End 26th of November 2024	Pair Corr
0.78	TILE	Interface	Pair Corr
0.62	TREX	Trex Company	Pair Corr
0.75	B	Barnes Group	Pair Corr
0.8	J	Jacobs Solutions	Pair Corr
0.93	R	Ryder System	Pair Corr
0.87	DIST	Distoken Acquisition	Pair Corr
0.73	AL	Air Lease	Pair Corr

Moving against Johnson Stock

0.76	AEHL	Antelope Enterprise	Pair Corr
0.76	ASPN	Aspen Aerogels	Pair Corr
0.71	JBI	Janus International	Pair Corr
0.6	APT	Alpha Pro Tech	Pair Corr
0.51	JELD	Jeld Wen Holding	Pair Corr
0.42	WMS	Advanced Drainage Systems	Pair Corr
0.4	AIRJW	Montana Technologies Symbol Change	Pair Corr
0.32	AFIIQ	Armstrong Flooring	Pair Corr
0.79	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.7	CSTE	Caesarstone	Pair Corr
0.66	CP	Canadian Pacific Railway	Pair Corr
0.55	MG	Mistras Group	Pair Corr
0.31	AP	Ampco Pittsburgh	Pair Corr

Related Correlations Analysis

	CARR	LII	MAS	CSL	TT	FBIN	BLDR	NX	JELD	AZEK
CARR		0.55	0.86	0.81	0.67	0.76	0.91	0.19	0.46	0.52	CARR
LII	0.55		0.43	0.64	0.87	0.26	0.49	0.64	-0.22	0.79	LII
MAS	0.86	0.43		0.76	0.49	0.92	0.86	0.19	0.63	0.33	MAS
CSL	0.81	0.64	0.76		0.83	0.54	0.7	0.51	0.13	0.51	CSL
TT	0.67	0.87	0.49	0.83		0.26	0.53	0.67	-0.24	0.73	TT
FBIN	0.76	0.26	0.92	0.54	0.26		0.76	0.01	0.77	0.13	FBIN
BLDR	0.91	0.49	0.86	0.7	0.53	0.76		0.09	0.55	0.54	BLDR
NX	0.19	0.64	0.19	0.51	0.67	0.01	0.09		-0.44	0.42	NX
JELD	0.46	-0.22	0.63	0.13	-0.24	0.77	0.55	-0.44		-0.22	JELD
AZEK	0.52	0.79	0.33	0.51	0.73	0.13	0.54	0.42	-0.22		AZEK
	CARR	LII	MAS	CSL	TT	FBIN	BLDR	NX	JELD	AZEK

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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

FBIN	+ 0.92	MAS
BLDR	+ 0.91	CARR
TT	+ 0.87	LII
MAS	+ 0.86	CARR
BLDR	+ 0.86	MAS
TT	+ 0.83	CSL

High negative correlations

JELD	- 0.44	NX
JELD	- 0.24	TT
AZEK	- 0.22	JELD
JELD	- 0.22	LII

Risk-Adjusted Indicators

There is a big difference between Johnson Stock performing well and Johnson Controls 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 Johnson Controls' 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
CARR	1.21	0.03	0.03	0.11	1.83	(1.32)	2.39	(1.87)	11.86
LII	1.15	0.09	0.03	0.27	1.44	(1.23)	2.59	(2.28)	7.45
MAS	0.89	(0.03)	(0.06)	0.03	1.15	(0.88)	1.64	(1.94)	6.15
CSL	1.26	0.01	0.01	0.09	1.88	(1.38)	2.58	(1.93)	12.15
TT	1.03	0.18	0.11	0.29	1.24	(1.12)	2.36	(1.84)	6.50
FBIN	1.30	(0.10)	0.00	(0.05)	0.00	0.00	2.50	(2.72)	10.07
BLDR	1.66	0.03	0.01	0.12	2.14	(1.78)	3.76	(3.07)	15.89
NX	1.98	0.10	0.03	0.21	2.56	(2.28)	4.43	(2.75)	32.55
JELD	2.39	(0.47)	0.00	(0.22)	0.00	0.00	3.93	(5.43)	37.15
AZEK	1.34	0.18	0.10	0.29	1.44	(1.44)	3.56	(2.33)	9.05

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