Enovis Corp Correlations

ENOV Stock

USD 39.43 0.42 1.08%

The current 90-days correlation between Enovis Corp and Helios Technologies is 0.39 (i.e., Weak diversification). The correlation of Enovis Corp 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.

Enovis Corp Correlation With Market

Good diversification

The correlation between Enovis Corp and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Enovis Corp and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Enovis Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

For more information on how to buy Enovis Stock please use our How to Invest in Enovis Corp guide.

Moving together with Enovis Stock

0.72	BW	Babcock Wilcox Enter	Pair Corr
0.9	HI	Hillenbrand	Pair Corr
0.85	IR	Ingersoll Rand	Pair Corr
0.66	PH	Parker Hannifin	Pair Corr
0.69	RR	Richtech Robotics Class Buyout Trend	Pair Corr
0.61	CVV	CVD Equipment Earnings Call This Week	Pair Corr
0.92	CXT	Crane NXT	Pair Corr
0.86	EMR	Emerson Electric	Pair Corr
0.78	ETN	Eaton PLC	Pair Corr
0.92	FLS	Flowserve	Pair Corr
0.87	GHM	Graham	Pair Corr
0.87	IEX	IDEX	Pair Corr
0.87	ITT	ITT Inc	Pair Corr
0.66	MIR	Mirion Technologies	Pair Corr
0.69	XMTR	Xometry	Pair Corr
0.91	PNR	Pentair PLC	Pair Corr
0.9	RRX	Regal Beloit	Pair Corr
0.76	SMR	Nuscale Power Corp Upward Rally	Pair Corr
0.86	SYM	Symbotic	Pair Corr

Moving against Enovis Stock

0.8	CYD	China Yuchai Interna Downward Rally	Pair Corr
0.4	FELE	Franklin Electric	Pair Corr
0.54	MWA	Mueller Water Products	Pair Corr
0.35	ITW	Illinois Tool Works	Pair Corr

Related Correlations Analysis

	HLIO	NPO	OFLX	LXFR	HURC	IEX	WTS	DCI	GRC	EPAC
HLIO		-0.12	0.46	0.48	0.49	0.88	-0.48	0.08	-0.02	-0.54	HLIO
NPO	-0.12		-0.56	0.66	0.52	-0.14	0.67	0.43	0.64	0.55	NPO
OFLX	0.46	-0.56		0.01	-0.08	0.49	-0.4	-0.06	-0.19	-0.46	OFLX
LXFR	0.48	0.66	0.01		0.81	0.45	0.33	0.6	0.39	0.1	LXFR
HURC	0.49	0.52	-0.08	0.81		0.44	0.12	0.42	0.17	0.24	HURC
IEX	0.88	-0.14	0.49	0.45	0.44		-0.42	0.29	0.03	-0.44	IEX
WTS	-0.48	0.67	-0.4	0.33	0.12	-0.42		0.52	0.5	0.68	WTS
DCI	0.08	0.43	-0.06	0.6	0.42	0.29	0.52		0.3	0.42	DCI
GRC	-0.02	0.64	-0.19	0.39	0.17	0.03	0.5	0.3		0.37	GRC
EPAC	-0.54	0.55	-0.46	0.1	0.24	-0.44	0.68	0.42	0.37		EPAC
	HLIO	NPO	OFLX	LXFR	HURC	IEX	WTS	DCI	GRC	EPAC

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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

IEX	+ 0.88	HLIO
HURC	+ 0.81	LXFR
EPAC	+ 0.68	WTS
WTS	+ 0.67	NPO
LXFR	+ 0.66	NPO
GRC	+ 0.64	NPO

High negative correlations

OFLX	- 0.56	NPO
EPAC	- 0.54	HLIO
WTS	- 0.48	HLIO
EPAC	- 0.46	OFLX
EPAC	- 0.44	IEX
WTS	- 0.42	IEX

Risk-Adjusted Indicators

There is a big difference between Enovis Stock performing well and Enovis Corp 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 Enovis Corp'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
HLIO	1.43	(0.46)	0.00	2.19	0.00	0.00	2.65	(3.70)	11.98
NPO	1.51	0.02	0.05	(0.25)	1.99	(1.46)	2.17	(3.19)	10.90
OFLX	1.59	(0.11)	0.00	3.54	0.00	0.00	2.88	(3.12)	8.92
LXFR	1.70	(0.12)	0.00	1.46	0.00	0.00	2.60	(3.83)	11.40
HURC	2.35	(0.24)	0.00	(0.78)	0.00	0.00	4.14	(4.30)	23.02
IEX	1.09	(0.23)	0.00	4.26	0.00	0.00	1.95	(2.02)	12.03
WTS	1.18	0.10	0.11	14.55	1.32	(1.20)	2.23	(2.33)	10.44
DCI	0.97	0.03	0.08	0.84	1.19	(0.98)	1.91	(2.11)	4.34
GRC	1.14	(0.07)	0.00	1.14	0.00	0.00	2.20	(2.40)	4.98
EPAC	1.33	(0.10)	0.00	(0.18)	0.00	0.00	2.21	(2.97)	6.65

Enovis Corp Corporate Management

Michael Macek	VP Relations	Profile
Angela Lalor	Director	Profile
John Kleckner	Principal Officer	Profile
Bradley Tandy	Senior Vice President General Counsel, Corporate Secretary	Profile
Liam Kelly	Independent Director	Profile

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