Mirion Technologies Correlations

MIR Stock

USD 16.78 0.50 3.07%

The current 90-days correlation between Mirion Technologies and Enpro Industries is 0.4 (i.e., Very weak diversification). The correlation of Mirion Technologies 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.

Mirion Technologies Correlation With Market

Weak diversification

The correlation between Mirion Technologies and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mirion Technologies and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Mirion Technologies. 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.

To learn how to invest in Mirion Stock, please use our How to Invest in Mirion Technologies guide.

Moving together with Mirion Stock

0.92	B	Barnes Group	Pair Corr
0.74	BW	Babcock Wilcox Enter	Pair Corr
0.77	CR	Crane Company	Pair Corr
0.75	IR	Ingersoll Rand	Pair Corr
0.83	PH	Parker Hannifin	Pair Corr
0.87	EPAC	Enerpac Tool Group	Pair Corr
0.73	AME	Ametek Inc	Pair Corr
0.69	ATS	ATS Corporation	Pair Corr
0.9	CMI	Cummins	Pair Corr
0.82	DCI	Donaldson Earnings Call This Week	Pair Corr
0.77	DOV	Dover	Pair Corr
0.82	EMR	Emerson Electric	Pair Corr
0.87	ETN	Eaton PLC	Pair Corr
0.9	FLS	Flowserve	Pair Corr
0.63	GHM	Graham	Pair Corr
0.66	GRC	Gorman Rupp	Pair Corr
0.77	IEX	IDEX	Pair Corr
0.71	ITT	ITT Inc	Pair Corr
0.81	ITW	Illinois Tool Works	Pair Corr
0.9	JBT	John Bean Technologies	Pair Corr
0.73	KAI	Kadant Inc	Pair Corr
0.86	MWA	Mueller Water Products Fiscal Year End 11th of December 2024	Pair Corr
0.75	XMTR	Xometry	Pair Corr
0.87	NNE	Nano Nuclear Energy Trending	Pair Corr
0.85	PNR	Pentair PLC	Pair Corr
0.79	ROK	Rockwell Automation	Pair Corr
0.74	RRX	Regal Beloit	Pair Corr

Moving against Mirion Stock

0.69	RR	Richtech Robotics Class	Pair Corr
0.69	CVV	CVD Equipment	Pair Corr
0.66	AOS	Smith AO	Pair Corr
0.55	CYD	China Yuchai Interna	Pair Corr
0.62	TNC	Tennant Company	Pair Corr
0.58	XYL	Xylem Inc	Pair Corr

Related Correlations Analysis

	NPO	GHM	CSWI	GRC	HURC	EPAC	OFLX	CR	IVAC
NPO		0.79	0.65	0.84	0.4	0.54	0.35	0.78	-0.56	NPO
GHM	0.79		0.7	0.85	0.48	0.74	0.42	0.87	-0.8	GHM
CSWI	0.65	0.7		0.81	0.84	0.87	0.73	0.83	-0.54	CSWI
GRC	0.84	0.85	0.81		0.57	0.83	0.63	0.92	-0.57	GRC
HURC	0.4	0.48	0.84	0.57		0.77	0.6	0.68	-0.48	HURC
EPAC	0.54	0.74	0.87	0.83	0.77		0.8	0.89	-0.61	EPAC
OFLX	0.35	0.42	0.73	0.63	0.6	0.8		0.65	-0.42	OFLX
CR	0.78	0.87	0.83	0.92	0.68	0.89	0.65		-0.71	CR
IVAC	-0.56	-0.8	-0.54	-0.57	-0.48	-0.61	-0.42	-0.71		IVAC
	NPO	GHM	CSWI	GRC	HURC	EPAC	OFLX	CR	IVAC

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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

CR	+ 0.92	GRC
CR	+ 0.89	EPAC
CR	+ 0.87	GHM
EPAC	+ 0.87	CSWI
GRC	+ 0.85	GHM
GRC	+ 0.84	NPO

High negative correlations

IVAC	- 0.8	GHM
IVAC	- 0.71	CR
IVAC	- 0.61	EPAC
IVAC	- 0.57	GRC
IVAC	- 0.56	NPO
IVAC	- 0.54	CSWI

Risk-Adjusted Indicators

There is a big difference between Mirion Stock performing well and Mirion Technologies 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 Mirion Technologies' 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
NPO	1.49	0.01	0.08	0.12	1.71	(1.59)	3.40	(2.30)	13.16
GHM	2.02	0.31	0.23	0.23	1.89	(2.39)	4.68	(3.94)	19.45
CSWI	1.65	0.22	0.15	0.22	1.97	(1.90)	4.01	(2.40)	14.23
GRC	1.34	(0.05)	0.04	0.09	1.50	(1.49)	2.41	(2.42)	11.59
HURC	1.83	0.41	0.19	0.76	1.46	(2.16)	4.37	(3.00)	18.87
EPAC	1.17	0.12	0.14	0.20	1.06	(1.36)	2.84	(1.91)	12.71
OFLX	1.64	(0.05)	0.02	0.09	1.71	(1.86)	3.46	(2.69)	11.00
CR	1.45	0.16	0.10	0.25	1.69	(1.72)	3.45	(2.72)	9.45
IVAC	1.94	(0.55)	0.00	(0.33)	0.00	0.00	3.96	(2.98)	27.33

Mirion Technologies Corporate Management

Shelia Webb	Chief Officer	Profile
Loic Eloy	Group Technologies	Profile
Alex Gaddy	Senior Treasurer	Profile
Erin Schesny	Chief Officer	Profile
Mark Siviter	Chief Officer	Profile
Christopher CPA	Chief Officer	Profile
Emmanuelle JD	Chief Officer	Profile

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