Trane Technologies Correlations

TT Stock

USD 389.19 0.33 0.08%

The current 90-days correlation between Trane Technologies plc and Johnson Controls International is 0.52 (i.e., Very weak diversification). The correlation of Trane 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.

Trane Technologies Correlation With Market

Very weak diversification

The correlation between Trane Technologies plc and DJI is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Trane Technologies plc and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Trane Technologies plc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with Trane Stock

0.71	NX	Quanex Building Products	Pair Corr
0.92	OC	Owens Corning	Pair Corr
0.74	AWI	Armstrong World Indu	Pair Corr
0.76	CSL	Carlisle Companies	Pair Corr
0.86	GMS	GMS Inc	Pair Corr
0.65	JCI	Johnson Controls Int	Pair Corr
0.71	LPX	Louisiana Pacific	Pair Corr
0.82	ROCK	Gibraltar Industries	Pair Corr
0.68	APOG	Apogee Enterprises	Pair Corr
0.89	SPXC	SPX Corp	Pair Corr
0.71	BLDR	Builders FirstSource	Pair Corr
0.65	CARR	Carrier Global Corp Sell-off Trend	Pair Corr

Moving against Trane Stock

0.45	AIRJW	Montana Technologies Symbol Change	Pair Corr
0.68	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.49	B	Barnes Group Earnings Call This Week	Pair Corr
0.34	AP	Ampco Pittsburgh	Pair Corr

Related Correlations Analysis

	FBIN	JCI	LII	BLDR	CARR	MAS	NX	JELD	AZEK	CSL
FBIN		-0.42	-0.23	0.85	0.82	0.94	0.73	0.95	-0.37	0.79	FBIN
JCI	-0.42		0.67	0.03	-0.02	-0.13	0.19	-0.48	0.7	0.13	JCI
LII	-0.23	0.67		0.05	-0.06	0.0	0.12	-0.35	0.9	0.09	LII
BLDR	0.85	0.03	0.05		0.93	0.95	0.9	0.79	-0.1	0.97	BLDR
CARR	0.82	-0.02	-0.06	0.93		0.9	0.82	0.79	-0.17	0.94	CARR
MAS	0.94	-0.13	0.0	0.95	0.9		0.83	0.87	-0.14	0.91	MAS
NX	0.73	0.19	0.12	0.9	0.82	0.83		0.66	-0.02	0.91	NX
JELD	0.95	-0.48	-0.35	0.79	0.79	0.87	0.66		-0.47	0.73	JELD
AZEK	-0.37	0.7	0.9	-0.1	-0.17	-0.14	-0.02	-0.47		-0.06	AZEK
CSL	0.79	0.13	0.09	0.97	0.94	0.91	0.91	0.73	-0.06		CSL
	FBIN	JCI	LII	BLDR	CARR	MAS	NX	JELD	AZEK	CSL

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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

CSL	+ 0.97	BLDR
JELD	+ 0.95	FBIN
MAS	+ 0.95	BLDR
MAS	+ 0.94	FBIN
CSL	+ 0.94	CARR
CARR	+ 0.93	BLDR

High negative correlations

JELD	- 0.48	JCI
AZEK	- 0.47	JELD
JCI	- 0.42	FBIN
AZEK	- 0.37	FBIN
JELD	- 0.35	LII
LII	- 0.23	FBIN

Risk-Adjusted Indicators

There is a big difference between Trane Stock performing well and Trane 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 Trane 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
FBIN	1.33	(0.24)	0.00	(0.49)	0.00	0.00	2.26	(3.55)	10.95
JCI	1.06	0.07	0.06	0.31	1.05	(1.36)	2.34	(1.68)	12.52
LII	1.25	0.10	0.06	0.16	1.63	(1.23)	2.89	(2.89)	7.42
BLDR	1.76	(0.25)	0.00	(0.29)	0.00	0.00	4.73	(3.98)	10.94
CARR	1.19	(0.22)	0.00	(0.28)	0.00	0.00	2.06	(2.44)	10.13
MAS	1.03	(0.11)	0.00	(0.20)	0.00	0.00	1.98	(2.17)	7.42
NX	1.89	(0.24)	0.00	(0.36)	0.00	0.00	4.11	(4.79)	12.44
JELD	2.71	(0.61)	0.00	0.39	0.00	0.00	5.54	(5.43)	32.38
AZEK	1.56	0.19	0.09	0.23	1.88	(1.65)	3.79	(2.33)	11.76
CSL	1.29	(0.25)	0.00	(0.55)	0.00	0.00	2.27	(2.06)	11.30

Trane Technologies Corporate Management

Heather Howlett	Chief Accounting Officer, Vice President	Profile
Richard Swift	Lead Independent Director	Profile
Zachary Nagle	Vice Relations	Profile
Mark Majocha	Chief VP	Profile
Mauro Atalla	Chief Officer	Profile

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