Rockwell Automation Correlations

ROK Stock

USD 394.37 12.37 3.24%

The current 90-days correlation between Rockwell Automation and Xylem Inc is 0.46 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Rockwell Automation moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Rockwell Automation moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Rockwell Automation Correlation With Market

Very poor diversification

The correlation between Rockwell Automation 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 Rockwell Automation and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Rockwell Stock

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Rockwell Automation. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in employment.

For more information on how to buy Rockwell Stock please use our How to buy in Rockwell Stock guide.

Moving together with Rockwell Stock

0.81	ST	Sensata Technologies Earnings Call This Week	Pair Corr
0.62	P4L	PREFORMED LINE PROD	Pair Corr
0.76	VICR	Vicor Downward Rally	Pair Corr
0.77	ELVA	Electrovaya	Pair Corr
0.8	ELVA	Electrovaya	Pair Corr
0.83	FLNC	Fluence Energy	Pair Corr
0.72	AME	Ametek Inc	Pair Corr
0.82	EMR	Emerson Electric	Pair Corr
0.8	ENS	Enersys	Pair Corr
0.75	ESP	Espey Mfg Electronics Earnings Call This Week	Pair Corr
0.65	RBC	RBC Bearings	Pair Corr

Moving against Rockwell Stock

0.76	2V3	VPower Group Interna	Pair Corr
0.57	0LT	Leoch International	Pair Corr
0.46	AYI	Acuity Brands	Pair Corr
0.43	PN	Skycorp Solar Group	Pair Corr
0.34	EGY	Energy Technologies	Pair Corr
0.32	FLUX	Flux Power Holdings	Pair Corr
0.67	HMM-A	Hammond Manufacturing	Pair Corr
0.64	2F0	AB Fagerhult Earnings Call This Week	Pair Corr
0.61	ZEO	Zeo Energy Corp	Pair Corr
0.6	AQ8	Acuity Brands	Pair Corr
0.52	XLE1	LEGEND POWER SYS Earnings Call This Week	Pair Corr
0.51	GWH	ESS Tech	Pair Corr
0.5	MLITN	Italy Innovazioni SpA	Pair Corr
0.4	STI	Solidion Technology	Pair Corr
0.4	XCH	XCHG Limited American	Pair Corr
0.34	CFJ	CERES POWER HLDGS	Pair Corr
0.33	6E6	ATON GREEN STORAGE	Pair Corr

Related Correlations Analysis

	XYL	AME	ROP	OTIS	PAYX	IR	FAST	HEI	WCN	GWW
XYL		-0.38	0.48	0.13	0.42	-0.38	-0.31	0.15	0.03	-0.43	XYL
AME	-0.38		-0.88	0.41	-0.78	0.94	0.91	0.52	-0.41	0.95	AME
ROP	0.48	-0.88		-0.35	0.95	-0.88	-0.88	-0.23	0.55	-0.84	ROP
OTIS	0.13	0.41	-0.35		-0.34	0.47	0.45	0.47	-0.45	0.38	OTIS
PAYX	0.42	-0.78	0.95	-0.34		-0.8	-0.8	-0.13	0.53	-0.73	PAYX
IR	-0.38	0.94	-0.88	0.47	-0.8		0.95	0.42	-0.46	0.95	IR
FAST	-0.31	0.91	-0.88	0.45	-0.8	0.95		0.31	-0.42	0.95	FAST
HEI	0.15	0.52	-0.23	0.47	-0.13	0.42	0.31		-0.42	0.39	HEI
WCN	0.03	-0.41	0.55	-0.45	0.53	-0.46	-0.42	-0.42		-0.32	WCN
GWW	-0.43	0.95	-0.84	0.38	-0.73	0.95	0.95	0.39	-0.32		GWW
	XYL	AME	ROP	OTIS	PAYX	IR	FAST	HEI	WCN	GWW

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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

GWW	+ 0.95	AME
PAYX	+ 0.95	ROP
FAST	+ 0.95	IR
GWW	+ 0.95	IR
GWW	+ 0.95	FAST
IR	+ 0.94	AME

High negative correlations

FAST	- 0.88	ROP
IR	- 0.88	ROP
ROP	- 0.88	AME
GWW	- 0.84	ROP
FAST	- 0.8	PAYX
IR	- 0.8	PAYX

Risk-Adjusted Indicators

There is a big difference between Rockwell Stock performing well and Rockwell Automation 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 Rockwell Automation'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
XYL	1.16	(0.31)	0.00	(0.22)	0.00	0.00	1.77	(3.08)	11.41
AME	0.90	0.17	0.17	0.25	0.77	(1.05)	1.87	(1.34)	6.22
ROP	1.30	(0.56)	0.00	(0.46)	0.00	0.00	1.91	(4.19)	12.33
OTIS	0.88	(0.01)	(0.05)	0.01	1.10	(0.90)	1.71	(1.85)	5.21
PAYX	1.07	(0.28)	0.00	(0.33)	0.00	0.00	2.32	(3.20)	7.96
IR	1.62	0.28	0.20	0.23	1.32	(1.98)	4.57	(2.53)	8.77
FAST	1.25	0.12	0.09	0.17	1.25	(1.40)	3.32	(2.23)	7.79
HEI	1.22	(0.04)	(0.03)	0.01	1.45	(1.24)	2.42	(2.39)	8.75
WCN	0.95	(0.10)	0.00	(0.06)	0.00	0.00	1.93	(1.71)	10.45
GWW	1.19	0.20	0.12	0.23	1.52	(1.40)	3.46	(2.33)	12.51

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