Graco Correlations

GGG Stock

USD 83.61 0.76 0.90%

The current 90-days correlation between Graco Inc and Franklin Electric Co is 0.7 (i.e., Poor diversification). The correlation of Graco 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.

Graco Correlation With Market

Poor diversification

The correlation between Graco Inc and DJI is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Graco Inc and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Graco Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with Graco Stock

0.72	AME	Ametek Inc	Pair Corr
0.89	ITW	Illinois Tool Works	Pair Corr
0.71	KAI	Kadant Inc	Pair Corr
0.65	NPO	Enpro Industries	Pair Corr
0.7	TNC	Tennant Company	Pair Corr
0.79	WTS	Watts Water Technologies	Pair Corr

Moving against Graco Stock

0.37	BW	Babcock Wilcox Enter	Pair Corr
0.37	GHM	Graham	Pair Corr
0.33	ETN	Eaton PLC	Pair Corr
0.4	XCH	XCHG Limited American	Pair Corr
0.36	HLIO	Helios Technologies	Pair Corr
0.34	GNRC	Generac Holdings	Pair Corr
0.34	HUHU	HUHUTECH International	Pair Corr
0.33	KRNT	Kornit Digital	Pair Corr
0.31	RRX	Regal Beloit	Pair Corr

Related Correlations Analysis

	FELE	AME	FLS	DCI	IEX	ITT	IR	CR	PH	PNR
FELE		0.2	-0.41	0.25	-0.52	-0.17	0.15	0.56	0.45	-0.49	FELE
AME	0.2		0.2	0.56	0.17	0.53	-0.17	0.4	0.5	0.29	AME
FLS	-0.41	0.2		0.36	0.74	0.84	0.32	0.35	0.53	0.86	FLS
DCI	0.25	0.56	0.36		0.29	0.62	0.16	0.56	0.56	0.28	DCI
IEX	-0.52	0.17	0.74	0.29		0.73	0.29	0.05	0.3	0.92	IEX
ITT	-0.17	0.53	0.84	0.62	0.73		0.23	0.45	0.65	0.83	ITT
IR	0.15	-0.17	0.32	0.16	0.29	0.23		0.34	0.52	0.3	IR
CR	0.56	0.4	0.35	0.56	0.05	0.45	0.34		0.86	0.15	CR
PH	0.45	0.5	0.53	0.56	0.3	0.65	0.52	0.86		0.41	PH
PNR	-0.49	0.29	0.86	0.28	0.92	0.83	0.3	0.15	0.41		PNR
	FELE	AME	FLS	DCI	IEX	ITT	IR	CR	PH	PNR

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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

PNR	+ 0.92	IEX
PNR	+ 0.86	FLS
PH	+ 0.86	CR
ITT	+ 0.84	FLS
PNR	+ 0.83	ITT
IEX	+ 0.74	FLS

High negative correlations

IEX	- 0.52	FELE
PNR	- 0.49	FELE
FLS	- 0.41	FELE
IR	- 0.17	AME
ITT	- 0.17	FELE

Risk-Adjusted Indicators

There is a big difference between Graco Stock performing well and Graco 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 Graco'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
FELE	1.03	(0.04)	0.00	(0.15)	0.00	0.00	2.00	(1.71)	8.22
AME	0.89	0.02	0.00	(0.08)	0.00	0.00	2.16	(1.97)	4.95
FLS	1.55	(0.23)	0.00	(37.26)	0.00	0.00	2.55	(4.18)	10.01
DCI	0.98	0.08	0.08	0.00	1.21	(0.97)	1.94	(2.15)	4.34
IEX	1.13	(0.15)	0.00	(0.36)	0.00	0.00	2.15	(2.43)	12.03
ITT	1.25	0.03	0.00	(0.07)	0.00	0.00	3.20	(2.75)	7.24
IR	1.28	(0.22)	0.00	(0.29)	0.00	0.00	2.34	(2.57)	10.46
CR	1.46	(0.03)	0.00	(0.12)	0.00	0.00	2.75	(3.24)	16.18
PH	1.27	(0.01)	0.00	(0.11)	0.00	0.00	2.27	(3.50)	10.15
PNR	1.06	(0.16)	0.00	(0.27)	0.00	0.00	1.78	(2.61)	6.53

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