Linde Plc Correlations

LIN Stock

USD 463.57 3.41 0.74%

The current 90-days correlation between Linde plc Ordinary and Sherwin Williams Co is 0.49 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Linde Plc moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Linde plc Ordinary moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Linde Plc Correlation With Market

Poor diversification

The correlation between Linde plc Ordinary and DJI is 0.7 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Linde plc Ordinary and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Linde Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Linde plc Ordinary. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Linde Stock

0.66	BNPQY	BNP Paribas SA Earnings Call This Week	Pair Corr
0.73	ALF	Centurion Acquisition	Pair Corr
0.75	LMRMF	Lomiko Metals	Pair Corr
0.7	ELXPF	Elixir Energy Limited	Pair Corr
0.66	ORKLY	Orkla ASA ADR	Pair Corr
0.65	BV	BrightView Holdings	Pair Corr
0.78	KBCSF	KBC Group NV	Pair Corr
0.73	SNPHY	Santen Pharmaceutical Earnings Call Tomorrow	Pair Corr
0.68	FIBH	First Bancshares	Pair Corr
0.8	BAP	Credicorp	Pair Corr
0.71	HEI	Heico	Pair Corr
0.78	BWMX	Betterware de Mxico	Pair Corr
0.69	MCHP	Microchip Technology Earnings Call Tomorrow	Pair Corr
0.8	SRMMF	Sarama Resources	Pair Corr
0.65	JORFF	Jourdan Resources	Pair Corr
0.91	JMPLY	Johnson Matthey PLC	Pair Corr

Moving against Linde Stock

0.62	ADVWW	Advantage Solutions	Pair Corr
0.61	GCMGW	GCM Grosvenor	Pair Corr
0.59	HGAS	Global Gas	Pair Corr
0.39	MAPSW	WM Technology	Pair Corr
0.38	GLABF	Gemina Laboratories	Pair Corr

Related Correlations Analysis

	APD	SHW	ECL	SCCO	SQM	ESI	FUL	SXT	HWKN	AVNT
APD		0.71	0.67	0.52	0.44	0.51	0.35	0.46	0.11	0.46	APD
SHW	0.71		0.65	0.62	0.28	0.68	0.35	0.25	0.29	0.65	SHW
ECL	0.67	0.65		0.81	0.8	0.6	0.48	0.62	0.41	0.77	ECL
SCCO	0.52	0.62	0.81		0.82	0.83	0.59	0.42	0.58	0.94	SCCO
SQM	0.44	0.28	0.8	0.82		0.5	0.63	0.6	0.55	0.71	SQM
ESI	0.51	0.68	0.6	0.83	0.5		0.41	0.26	0.38	0.84	ESI
FUL	0.35	0.35	0.48	0.59	0.63	0.41		0.51	0.67	0.52	FUL
SXT	0.46	0.25	0.62	0.42	0.6	0.26	0.51		0.36	0.41	SXT
HWKN	0.11	0.29	0.41	0.58	0.55	0.38	0.67	0.36		0.64	HWKN
AVNT	0.46	0.65	0.77	0.94	0.71	0.84	0.52	0.41	0.64		AVNT
	APD	SHW	ECL	SCCO	SQM	ESI	FUL	SXT	HWKN	AVNT

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Risk-Adjusted Indicators

There is a big difference between Linde Stock performing well and Linde Plc 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 Linde Plc'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
APD	1.36	0.09	0.03	0.16	2.03	(1.45)	2.58	(2.40)	18.39
SHW	1.03	(0.04)	(0.03)	0.01	1.28	(1.05)	2.69	(2.10)	6.63
ECL	0.86	0.05	0.03	0.11	1.15	(0.82)	2.03	(1.79)	4.70
SCCO	2.00	0.48	0.17	0.36	2.51	(2.09)	3.92	(4.16)	14.68
SQM	2.30	0.81	0.30	2.79	2.08	(2.68)	6.23	(4.09)	14.90
ESI	1.65	0.14	0.06	0.37	1.73	(1.97)	3.96	(3.60)	10.60
FUL	1.23	(0.03)	(0.01)	0.02	1.48	(1.44)	3.48	(2.38)	8.23
SXT	1.36	(0.01)	(0.02)	0.01	1.76	(1.47)	2.93	(2.57)	9.55
HWKN	1.88	(0.46)	0.00	(0.29)	0.00	0.00	3.29	(5.80)	14.80
AVNT	1.41	0.16	0.08	0.43	1.43	(1.58)	3.41	(2.45)	8.87

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