Carlisle Companies Correlations

CSL Stock

USD 342.39 7.12 2.04%

The current 90-days correlation between Carlisle Companies and Lennox International is 0.5 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Carlisle Companies moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Carlisle Companies Incorporated moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Carlisle Companies Correlation With Market

Very weak diversification

The correlation between Carlisle Companies Incorporate and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Carlisle Companies Incorporate and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Carlisle Companies Incorporated. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with Carlisle Stock

0.76	NX	Quanex Building Products	Pair Corr
0.81	OC	Owens Corning	Pair Corr
0.86	TT	Trane Technologies plc	Pair Corr
0.91	FBIN	Fortune Brands Innov	Pair Corr
0.73	GMS	GMS Inc	Pair Corr
0.71	LII	Lennox International	Pair Corr
0.76	LMB	Limbach Holdings	Pair Corr
0.76	LPX	Louisiana Pacific	Pair Corr
0.7	WMS	Advanced Drainage Systems	Pair Corr
0.71	ILAG	Intelligent Living	Pair Corr
0.88	JELD	Jeld Wen Holding	Pair Corr
0.72	PPIH	Perma Pipe Internati	Pair Corr
0.83	AAON	AAON Inc	Pair Corr
0.78	ASPN	Aspen Aerogels	Pair Corr
0.67	AZEK	Azek Company	Pair Corr
0.76	BLDR	Builders FirstSource	Pair Corr
0.85	TREX	Trex Company	Pair Corr
0.66	CSTE	Caesarstone	Pair Corr
0.87	J	Jacobs Solutions	Pair Corr
0.77	AP	Ampco Pittsburgh	Pair Corr

Moving against Carlisle Stock

0.36	JBI	Janus International	Pair Corr
0.34	JCI	Johnson Controls Int	Pair Corr
0.62	G	Genpact Limited	Pair Corr
0.5	ROCK	Gibraltar Industries	Pair Corr
0.75	EH	Ehang Holdings	Pair Corr
0.42	GE	GE Aerospace	Pair Corr
0.39	DE	Deere Company	Pair Corr

Related Correlations Analysis

	LII	FBIN	TT	JCI	MAS	NX	JELD	AZEK	CARR	AAON
LII		0.75	0.77	0.04	0.57	0.7	0.55	0.52	0.62	0.72	LII
FBIN	0.75		0.81	-0.12	0.74	0.77	0.92	0.74	0.45	0.89	FBIN
TT	0.77	0.81		-0.1	0.35	0.83	0.75	0.58	0.71	0.89	TT
JCI	0.04	-0.12	-0.1		0.17	-0.11	-0.16	0.23	-0.23	-0.06	JCI
MAS	0.57	0.74	0.35	0.17		0.3	0.65	0.72	-0.03	0.53	MAS
NX	0.7	0.77	0.83	-0.11	0.3		0.75	0.54	0.68	0.85	NX
JELD	0.55	0.92	0.75	-0.16	0.65	0.75		0.7	0.35	0.85	JELD
AZEK	0.52	0.74	0.58	0.23	0.72	0.54	0.7		0.14	0.68	AZEK
CARR	0.62	0.45	0.71	-0.23	-0.03	0.68	0.35	0.14		0.52	CARR
AAON	0.72	0.89	0.89	-0.06	0.53	0.85	0.85	0.68	0.52		AAON
	LII	FBIN	TT	JCI	MAS	NX	JELD	AZEK	CARR	AAON

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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

JELD	+ 0.92	FBIN
AAON	+ 0.89	FBIN
AAON	+ 0.89	TT
AAON	+ 0.85	NX
AAON	+ 0.85	JELD
NX	+ 0.83	TT

High negative correlations

CARR	- 0.23	JCI
JELD	- 0.16	JCI
JCI	- 0.12	FBIN
NX	- 0.11	JCI
JCI	- 0.1	TT
AAON	- 0.06	JCI

Risk-Adjusted Indicators

There is a big difference between Carlisle Stock performing well and Carlisle Companies 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 Carlisle Companies' 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
LII	1.60	(0.05)	0.00	(0.06)	0.00	0.00	2.93	(3.33)	11.28
FBIN	1.24	(0.10)	0.00	(0.12)	0.00	0.00	2.49	(2.59)	7.58
TT	1.23	(0.09)	0.00	(0.11)	0.00	0.00	2.11	(2.33)	10.34
JCI	1.40	0.12	0.07	0.07	1.59	(1.69)	2.53	(2.67)	15.29
MAS	1.19	(0.01)	0.00	(0.04)	0.00	0.00	2.35	(2.24)	6.69
NX	2.15	(0.17)	0.00	(0.15)	0.00	0.00	4.08	(3.94)	17.75
JELD	2.81	(0.35)	0.00	(0.49)	0.00	0.00	4.71	(6.14)	33.01
AZEK	1.88	0.15	0.05	0.03	2.21	(1.97)	4.06	(3.45)	17.71
CARR	1.44	0.02	0.00	(0.01)	0.00	0.00	3.09	(3.06)	6.88
AAON	2.49	(0.53)	0.00	(0.37)	0.00	0.00	4.88	(4.28)	28.53

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