SPX Corp Correlations

SPXC Stock

USD 222.07 2.49 1.13%

The current 90-days correlation between SPX Corp and Donaldson is 0.13 (i.e., Average diversification). The correlation of SPX Corp 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.

SPX Corp Correlation With Market

Very weak diversification

The correlation between SPX Corp and DJI is 0.51 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPX Corp and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with SPX Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in SPX Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in small area income & poverty estimates.

For information on how to trade SPX Stock refer to our How to Trade SPX Stock guide.

Moving together with SPX Stock

0.7	0ACC	Accelleron Industries	Pair Corr
0.84	HY	Hyster Yale Materials	Pair Corr
0.79	IR	Ingersoll Rand	Pair Corr
0.8	PH	Parker Hannifin	Pair Corr
0.82	OSG	OSG Corporation	Pair Corr
0.71	4RX0	ZURN ELKAY WATER	Pair Corr
0.76	EAAS	Eenergy Group PLC	Pair Corr
0.76	STGN	Starrag Group Holding	Pair Corr
0.67	IMI1	IMI plc Earnings Call Tomorrow	Pair Corr
0.75	CE3	Chongqing Machinery	Pair Corr
0.8	HZ8	Insteel Industries	Pair Corr
0.63	DZR	AVINGTRANS LS 05	Pair Corr
0.62	PFV	Pfeiffer Vacuum Tech	Pair Corr

Moving against SPX Stock

0.71	74Z	BOA CEPT SA	Pair Corr
0.56	INRN	Interroll Holding Earnings Call This Week	Pair Corr
0.54	BRCK	Brickability Group Plc	Pair Corr
0.51	RR	Richtech Robotics Class	Pair Corr
0.5	AZ	A2Z Smart Technologies	Pair Corr
0.46	D7G	Nel ASA	Pair Corr
0.53	EPOW	Sunrise New Energy	Pair Corr
0.47	7YA	M VEST WATER	Pair Corr
0.4	WAH	WOLFTANK ADISA HLDG	Pair Corr

Related Correlations Analysis

	DCI	GNRC	CR	RRX	FLS	WTS	AOS	PSN	CNM	AIT
DCI		0.64	0.48	0.72	0.79	0.78	0.86	-0.12	0.68	0.74	DCI
GNRC	0.64		0.55	0.92	0.94	0.9	0.83	-0.15	0.35	0.7	GNRC
CR	0.48	0.55		0.53	0.59	0.61	0.54	-0.13	0.72	0.76	CR
RRX	0.72	0.92	0.53		0.96	0.94	0.93	-0.22	0.43	0.77	RRX
FLS	0.79	0.94	0.59	0.96		0.97	0.93	-0.17	0.51	0.8	FLS
WTS	0.78	0.9	0.61	0.94	0.97		0.94	-0.22	0.56	0.83	WTS
AOS	0.86	0.83	0.54	0.93	0.93	0.94		-0.22	0.61	0.81	AOS
PSN	-0.12	-0.15	-0.13	-0.22	-0.17	-0.22	-0.22		-0.39	-0.11	PSN
CNM	0.68	0.35	0.72	0.43	0.51	0.56	0.61	-0.39		0.67	CNM
AIT	0.74	0.7	0.76	0.77	0.8	0.83	0.81	-0.11	0.67		AIT
	DCI	GNRC	CR	RRX	FLS	WTS	AOS	PSN	CNM	AIT

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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

WTS	+ 0.97	FLS
FLS	+ 0.96	RRX
FLS	+ 0.94	GNRC
WTS	+ 0.94	RRX
AOS	+ 0.94	WTS
AOS	+ 0.93	RRX

High negative correlations

CNM	- 0.39	PSN
PSN	- 0.22	AOS
PSN	- 0.22	WTS
PSN	- 0.22	RRX
PSN	- 0.17	FLS
PSN	- 0.15	GNRC

Risk-Adjusted Indicators

There is a big difference between SPX Stock performing well and SPX Corp 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 SPX Corp'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
DCI	1.34	0.05	0.02	0.10	2.29	(1.43)	2.43	(2.05)	19.23
GNRC	2.36	0.58	0.24	0.36	2.30	(2.81)	5.37	(3.98)	21.91
CR	1.35	0.13	0.06	0.12	2.27	(1.42)	2.71	(1.99)	15.15
RRX	2.03	0.54	0.24	0.44	1.83	(2.29)	5.34	(3.75)	16.86
FLS	1.24	0.20	0.15	0.17	1.23	(1.41)	2.46	(1.96)	12.83
WTS	1.05	0.19	0.18	0.27	0.78	(1.30)	2.85	(1.48)	9.09
AOS	1.11	0.13	0.09	0.18	1.14	(1.18)	2.38	(2.23)	8.24
PSN	2.13	(0.33)	0.00	(0.40)	0.00	0.00	3.68	(3.89)	22.97
CNM	1.60	0.14	0.09	0.11	1.71	(1.75)	3.26	(2.94)	11.37
AIT	1.20	0.14	0.05	(0.40)	1.76	(1.21)	2.73	(2.32)	10.01

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