Barnes Correlations

Summary

BDelisted Stock

USD 47.48 0.01 0.02%

The current 90-days correlation between Barnes Group and Helios Technologies is 0.09 (i.e., Significant diversification). The correlation of Barnes 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.

Barnes Correlation With Market

Significant diversification

The correlation between Barnes Group and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Barnes Group and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

Moving together with Barnes Stock

0.84	EC	Ecopetrol SA ADR	Pair Corr
0.89	TECTP	Tectonic Financial	Pair Corr
0.7	FARM	Farmer Bros	Pair Corr
0.86	BLTH	American Battery Mat	Pair Corr
0.62	CIMO	Chimera Investment	Pair Corr
0.81	GLBXF	Globex Mining Enterprises	Pair Corr
0.76	SDHY	PGIM Short Duration	Pair Corr
0.61	FANUF	Fanuc	Pair Corr
0.83	BSET	Bassett Furniture	Pair Corr
0.81	BTT	Blackrock Municipal	Pair Corr
0.77	WZZAF	Wizz Air Holdings	Pair Corr
0.81	CHT	Chunghwa Telecom	Pair Corr
0.94	SGAPY	Singapore Telecommunicatio	Pair Corr
0.71	AONNY	Aeon Co	Pair Corr
0.93	SR	Spire Inc	Pair Corr
0.67	MDLZ	Mondelez International	Pair Corr
0.85	DVRNF	Deveron Corp	Pair Corr

Moving against Barnes Stock

0.75	TLK	Telkom Indonesia Tbk	Pair Corr
0.75	TLKMF	Telkom Indonesia Tbk	Pair Corr
0.74	UHG	United Homes Group	Pair Corr
0.68	PTAIY	Astra International Tbk	Pair Corr
0.65	BKRKY	Bank Rakyat Downward Rally	Pair Corr
0.69	QMCO	Quantum Trending	Pair Corr
0.53	BOWL	Bowlero Corp Symbol Change	Pair Corr
0.41	SES	SES AI Corp	Pair Corr
0.32	ENMI	Energy Management	Pair Corr
0.32	MVST	Microvast Holdings	Pair Corr

Related Correlations Analysis

	HLIO	NPO	OFLX	LXFR	HURC	GGG	IEX	ITT	FELE	IR
HLIO		0.05	0.72	0.41	0.4	0.17	0.88	0.73	0.09	0.93	HLIO
NPO	0.05		-0.24	0.68	0.45	0.66	-0.02	0.44	0.81	0.12	NPO
OFLX	0.72	-0.24		0.11	0.0	0.1	0.64	0.39	0.02	0.73	OFLX
LXFR	0.41	0.68	0.11		0.84	0.37	0.44	0.78	0.39	0.54	LXFR
HURC	0.4	0.45	0.0	0.84		0.15	0.42	0.75	0.1	0.54	HURC
GGG	0.17	0.66	0.1	0.37	0.15		0.05	0.41	0.89	0.27	GGG
IEX	0.88	-0.02	0.64	0.44	0.42	0.05		0.78	-0.05	0.85	IEX
ITT	0.73	0.44	0.39	0.78	0.75	0.41	0.78		0.31	0.82	ITT
FELE	0.09	0.81	0.02	0.39	0.1	0.89	-0.05	0.31		0.15	FELE
IR	0.93	0.12	0.73	0.54	0.54	0.27	0.85	0.82	0.15		IR
	HLIO	NPO	OFLX	LXFR	HURC	GGG	IEX	ITT	FELE	IR

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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

IR	+ 0.93	HLIO
FELE	+ 0.89	GGG
IEX	+ 0.88	HLIO
IR	+ 0.85	IEX
HURC	+ 0.84	LXFR
IR	+ 0.82	ITT

High negative correlations

OFLX	- 0.24	NPO
FELE	- 0.05	IEX
IEX	- 0.02	NPO
HURC	- 0.0	OFLX

Risk-Adjusted Indicators

There is a big difference between Barnes Stock performing well and Barnes 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 Barnes' 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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
HLIO	1.52	(0.47)	(0.51)	3.46	(4.00)	11.98
NPO	1.54	(0.02)	(0.12)	2.15	(3.38)	10.90
OFLX	1.65	(0.13)	(0.37)	2.92	(3.12)	9.62
LXFR	1.69	(0.14)	(0.25)	2.60	(4.10)	11.40
HURC	2.39	(0.30)	(0.99)	4.14	(4.30)	23.02
GGG	1.00	(0.02)	(0.12)	1.60	(2.25)	4.96
IEX	1.14	(0.25)	(0.51)	1.95	(2.43)	12.03
ITT	1.26	(0.09)	(0.17)	2.91	(2.75)	7.23
FELE	1.03	(0.04)	(0.15)	2.00	(1.71)	8.22
IR	1.28	(0.22)	(0.29)	2.34	(2.57)	10.46

View Barnes Related Equities

Helios Technologies Enpro Industries Omega Flex Luxfer Holdings PLC Hurco Companies Graco Inc IDEX Corporation ITT Inc Franklin Electric Co Ingersoll Rand Watts Water Technologies Donaldson Gorman Rupp Enerpac Tool Group JBT Old

Risk & Return

Correlation

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