Eaton Plc Correlations

E1TN34 Stock

BRL 118.70 0.82 0.69%

The current 90-days correlation between Eaton plc and Applied Materials, is 0.46 (i.e., Very weak diversification). The correlation of Eaton Plc 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.

Eaton Plc Correlation With Market

Significant diversification

The correlation between Eaton plc and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eaton plc and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Eaton Plc could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Eaton Plc 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 Eaton Plc - 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 Eaton plc to buy it.

Moving together with Eaton Stock

0.87	HONB34	Honeywell International	Pair Corr
0.64	C1MI34	Cummins	Pair Corr
0.78	A1ME34	AMETEK,	Pair Corr
0.9	AERI3	Aeris Indstria e	Pair Corr
0.83	MBRF11	Fundo De Investimento	Pair Corr

Moving against Eaton Stock

0.68	GEOO34	General Electric	Pair Corr
0.57	SPTW11	Sp Downtown Fundo	Pair Corr
0.52	ARNC34	Howmet Aerospace	Pair Corr

Related Correlations Analysis

	P2EN34	M2PM34	L1YV34	Z1OM34	A1MT34	G2DI33	VERZ34
P2EN34		0.7	-0.19	-0.64	-0.73	-0.54	0.49	P2EN34
M2PM34	0.7		-0.16	-0.71	-0.43	-0.68	0.07	M2PM34
L1YV34	-0.19	-0.16		0.56	0.54	0.48	-0.49	L1YV34
Z1OM34	-0.64	-0.71	0.56		0.59	0.87	-0.4	Z1OM34
A1MT34	-0.73	-0.43	0.54	0.59		0.59	-0.69	A1MT34
G2DI33	-0.54	-0.68	0.48	0.87	0.59		-0.3	G2DI33
VERZ34	0.49	0.07	-0.49	-0.4	-0.69	-0.3		VERZ34
	P2EN34	M2PM34	L1YV34	Z1OM34	A1MT34	G2DI33	VERZ34

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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

G2DI33	+ 0.87	Z1OM34
M2PM34	+ 0.7	P2EN34
A1MT34	+ 0.59	Z1OM34
G2DI33	+ 0.59	A1MT34
Z1OM34	+ 0.56	L1YV34
A1MT34	+ 0.54	L1YV34

High negative correlations

A1MT34	- 0.73	P2EN34
Z1OM34	- 0.71	M2PM34
VERZ34	- 0.69	A1MT34
G2DI33	- 0.68	M2PM34
Z1OM34	- 0.64	P2EN34
G2DI33	- 0.54	P2EN34

Risk-Adjusted Indicators

There is a big difference between Eaton Stock performing well and Eaton Plc 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 Eaton Plc'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
P2EN34	0.18	0.03	0.00	0.76	0.00	0.00	0.00	0.00	3.82
M2PM34	2.51	0.56	0.11	0.53	2.86	(4.41)	7.66	(5.24)	37.36
L1YV34	1.36	(0.21)	0.00	(1.20)	0.00	0.00	2.35	(3.68)	9.62
Z1OM34	1.60	(0.21)	0.00	(0.89)	0.00	0.00	2.34	(3.13)	19.86
A1MT34	2.04	(0.12)	0.00	(0.27)	0.00	0.00	4.87	(5.36)	14.21
G2DI33	1.74	(0.27)	0.00	(0.37)	0.00	0.00	2.86	(4.41)	8.85
VERZ34	1.32	(0.04)	0.00	0.39	0.00	0.00	2.57	(2.78)	11.13

Be your own money manager

Our tools can tell you how much better you can do entering a position in Eaton Plc 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.

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Eaton Plc Corporate Management

Elected by the shareholders, the Eaton Plc's board of directors comprises two types of representatives: Eaton Plc inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Eaton. The board's role is to monitor Eaton Plc's management team and ensure that shareholders' interests are well served. Eaton Plc's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Eaton Plc's outside directors are responsible for providing unbiased perspectives on the board's policies.

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