Weir Group Correlations
| WEGRY Stock | USD 13.61 0.33 2.37% |
The current 90-days correlation between Weir Group PLC and Parker Hannifin is 0.31 (i.e., Weak diversification). The correlation of Weir Group 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.
Weir Group Correlation With Market
Very weak diversification
The correlation between Weir Group PLC and DJI is 0.42 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Weir Group PLC and DJI in the same portfolio, assuming nothing else is changed.
Weir |
The ability to find closely correlated positions to Weir Group could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Weir Group when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Weir Group - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Weir Group PLC to buy it.
Moving together with Weir Pink Sheet
| 0.79 | GE | GE Aerospace Fiscal Year End 28th of January 2025 | PairCorr |
| 0.66 | SMAWF | Siemens AG Class | PairCorr |
| 0.75 | SBGSY | Schneider Electric | PairCorr |
| 0.7 | SBGSF | Schneider Electric | PairCorr |
| 0.69 | HD | Home Depot | PairCorr |
| 0.64 | INTC | Intel Fiscal Year End 23rd of January 2025 | PairCorr |
| 0.62 | MCD | McDonalds Fiscal Year End 3rd of February 2025 | PairCorr |
Moving against Weir Pink Sheet
| 0.72 | TPDDF | Talon Energy | PairCorr |
| 0.66 | EPGG | Empire Global Gaming | PairCorr |
| 0.41 | IMHC | Imperalis Holding Corp | PairCorr |
| 0.38 | CHHE | China Health Industries | PairCorr |
| 0.32 | GBHPF | Global Hemp Group | PairCorr |
| 0.47 | BA | Boeing Fiscal Year End 29th of January 2025 | PairCorr |
Related Correlations Analysis
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Risk-Adjusted Indicators
There is a big difference between Weir Pink Sheet performing well and Weir Group 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 Weir Group'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| PH | 0.91 | 0.10 | 0.14 | 0.19 | 0.82 | 2.18 | 11.35 | |||
| ETN | 1.19 | 0.17 | 0.16 | 0.22 | 1.16 | 2.91 | 8.54 | |||
| DOV | 1.08 | 0.02 | 0.05 | 0.14 | 1.01 | 2.20 | 6.51 | |||
| ITW | 0.79 | 0.06 | 0.06 | 0.18 | 0.62 | 1.53 | 4.73 | |||
| EMR | 1.15 | 0.17 | 0.19 | 0.23 | 0.84 | 2.15 | 9.12 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Weir Group without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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Weir Group Corporate Management
| Raymond Buchanan | Head Affairs | Profile | |
| Jonathan Stanton | CEO Director | Profile | |
| Paula Cousins | Chief Officer | Profile | |
| Garry Fingland | Chief Officer | Profile | |
| Stephen Christie | Head of Investor Relations | Profile |