Rockwell Automation Correlations

ROK Stock

USD 278.30 1.78 0.64%

The current 90-days correlation between Rockwell Automation and Dover is 0.65 (i.e., Poor 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

Poor diversification

The correlation between Rockwell Automation and DJI is 0.68 (i.e., 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.

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 persons.

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

Moving together with Rockwell Stock

0.68	B	Barnes Group	Pair Corr
0.82	CR	Crane Company	Pair Corr
0.77	IR	Ingersoll Rand Sell-off Trend	Pair Corr
0.86	PH	Parker Hannifin	Pair Corr
0.81	EPAC	Enerpac Tool Group	Pair Corr
0.76	FELE	Franklin Electric	Pair Corr
0.79	AME	Ametek Inc	Pair Corr
0.86	CMI	Cummins	Pair Corr
0.83	DCI	Donaldson Earnings Call This Week	Pair Corr
0.82	DOV	Dover	Pair Corr
0.88	EMR	Emerson Electric	Pair Corr
0.78	ETN	Eaton PLC	Pair Corr
0.85	FLS	Flowserve	Pair Corr
0.76	GGG	Graco Inc	Pair Corr
0.75	GHM	Graham	Pair Corr
0.82	GRC	Gorman Rupp	Pair Corr
0.82	IEX	IDEX	Pair Corr
0.74	ITT	ITT Inc	Pair Corr
0.8	ITW	Illinois Tool Works	Pair Corr
0.72	JBT	John Bean Technologies	Pair Corr
0.79	KAI	Kadant Inc	Pair Corr
0.77	MIR	Mirion Technologies	Pair Corr
0.85	MWA	Mueller Water Products Fiscal Year End 11th of December 2024	Pair Corr
0.78	XMTR	Xometry	Pair Corr
0.7	NNE	Nano Nuclear Energy Trending	Pair Corr
0.66	NPO	Enpro Industries	Pair Corr
0.74	PNR	Pentair PLC	Pair Corr
0.74	RRX	Regal Beloit	Pair Corr
0.77	SMR	Nuscale Power Corp Buyout Trend	Pair Corr

Moving against Rockwell Stock

0.58	CYD	China Yuchai Interna	Pair Corr
0.5	RR	Richtech Robotics Class	Pair Corr
0.49	CVV	CVD Equipment	Pair Corr
0.42	AOS	Smith AO	Pair Corr
0.57	IVAC	Intevac	Pair Corr
0.41	XYL	Xylem Inc	Pair Corr

Related Correlations Analysis

	DOV	ITW	IR	ETN	EMR	PH	CMI	PNR	AOS
DOV		0.94	0.9	0.92	0.89	0.95	0.89	0.92	-0.36	DOV
ITW	0.94		0.9	0.92	0.89	0.96	0.92	0.94	-0.32	ITW
IR	0.9	0.9		0.95	0.84	0.91	0.9	0.9	-0.16	IR
ETN	0.92	0.92	0.95		0.86	0.94	0.93	0.97	-0.36	ETN
EMR	0.89	0.89	0.84	0.86		0.96	0.94	0.84	-0.49	EMR
PH	0.95	0.96	0.91	0.94	0.96		0.95	0.93	-0.42	PH
CMI	0.89	0.92	0.9	0.93	0.94	0.95		0.92	-0.43	CMI
PNR	0.92	0.94	0.9	0.97	0.84	0.93	0.92		-0.39	PNR
AOS	-0.36	-0.32	-0.16	-0.36	-0.49	-0.42	-0.43	-0.39		AOS
	DOV	ITW	IR	ETN	EMR	PH	CMI	PNR	AOS

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

PNR	+ 0.97	ETN
PH	+ 0.96	ITW
PH	+ 0.96	EMR
PH	+ 0.95	DOV
ETN	+ 0.95	IR
CMI	+ 0.95	PH

High negative correlations

AOS	- 0.49	EMR
AOS	- 0.43	CMI
AOS	- 0.42	PH
AOS	- 0.39	PNR
AOS	- 0.36	ETN
AOS	- 0.36	DOV

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
DOV	1.08	0.03	0.06	0.11	1.02	(1.38)	2.18	(1.90)	6.51
ITW	0.77	0.07	0.07	0.16	0.64	(0.97)	1.53	(1.33)	4.73
IR	1.19	0.07	0.09	0.13	1.14	(1.32)	3.27	(2.10)	7.21
ETN	1.17	0.16	0.14	0.18	1.23	(1.33)	2.55	(2.11)	8.54
EMR	1.10	0.21	0.20	0.21	0.83	(1.26)	2.15	(1.83)	9.12
PH	0.90	0.14	0.16	0.18	0.83	(1.07)	2.18	(1.25)	11.35
CMI	1.06	0.20	0.21	0.28	0.72	(1.39)	2.82	(1.68)	9.79
PNR	0.88	0.26	0.28	0.42	0.48	(1.10)	2.15	(1.08)	5.49
AOS	1.10	(0.23)	0.00	(0.25)	0.00	0.00	2.11	(2.61)	10.28

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC