Generac Holdings Correlations

GNRC Stock

USD 131.52 1.84 1.38%

The current 90-days correlation between Generac Holdings and Dover is -0.07 (i.e., Good diversification). The correlation of Generac Holdings 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.

Generac Holdings Correlation With Market

Good diversification

The correlation between Generac Holdings and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Generac Holdings 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 Generac Holdings. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

For information on how to trade Generac Stock refer to our How to Trade Generac Stock guide.

Moving together with Generac Stock

0.91	BW	Babcock Wilcox Enter	Pair Corr
0.61	HI	Hillenbrand	Pair Corr
0.84	IR	Ingersoll Rand	Pair Corr
0.79	ENOV	Enovis Corp	Pair Corr
0.69	AOS	Smith AO	Pair Corr
0.76	CVV	CVD Equipment Earnings Call This Week	Pair Corr
0.62	CXT	Crane NXT	Pair Corr
0.68	EMR	Emerson Electric	Pair Corr
0.91	ETN	Eaton PLC Sell-off Trend	Pair Corr
0.69	FLS	Flowserve	Pair Corr
0.81	GHM	Graham	Pair Corr
0.87	IEX	IDEX	Pair Corr
0.67	ITT	ITT Inc Sell-off Trend	Pair Corr
0.8	MIR	Mirion Technologies	Pair Corr
0.69	XMTR	Xometry	Pair Corr
0.9	PNR	Pentair PLC	Pair Corr
0.92	RRX	Regal Beloit	Pair Corr

Moving against Generac Stock

0.68

MWA

Mueller Water Products

Pair Corr

Related Correlations Analysis

	EMR	ETN	PH	ITW	DOV	CR	FLS	HI	MIDD	IEX
EMR		0.65	0.8	0.31	0.78	0.6	0.87	0.86	0.09	0.81	EMR
ETN	0.65		0.28	-0.14	0.21	-0.02	0.72	0.6	-0.59	0.83	ETN
PH	0.8	0.28		0.36	0.97	0.86	0.79	0.83	0.49	0.46	PH
ITW	0.31	-0.14	0.36		0.42	0.34	-0.04	0.1	0.34	0.07	ITW
DOV	0.78	0.21	0.97	0.42		0.89	0.74	0.78	0.54	0.4	DOV
CR	0.6	-0.02	0.86	0.34	0.89		0.57	0.62	0.7	0.17	CR
FLS	0.87	0.72	0.79	-0.04	0.74	0.57		0.94	0.02	0.74	FLS
HI	0.86	0.6	0.83	0.1	0.78	0.62	0.94		0.19	0.7	HI
MIDD	0.09	-0.59	0.49	0.34	0.54	0.7	0.02	0.19		-0.29	MIDD
IEX	0.81	0.83	0.46	0.07	0.4	0.17	0.74	0.7	-0.29		IEX
	EMR	ETN	PH	ITW	DOV	CR	FLS	HI	MIDD	IEX

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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

DOV	+ 0.97	PH
HI	+ 0.94	FLS
CR	+ 0.89	DOV
FLS	+ 0.87	EMR
HI	+ 0.86	EMR
CR	+ 0.86	PH

High negative correlations

MIDD	- 0.59	ETN
IEX	- 0.29	MIDD
ITW	- 0.14	ETN
FLS	- 0.04	ITW
CR	- 0.02	ETN

Risk-Adjusted Indicators

There is a big difference between Generac Stock performing well and Generac Holdings 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 Generac Holdings' 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
EMR	1.25	(0.15)	0.00	(0.19)	0.00	0.00	2.13	(2.68)	9.68
ETN	1.69	(0.19)	0.00	(0.27)	0.00	0.00	3.41	(3.54)	19.37
PH	1.29	(0.03)	0.00	(0.10)	0.00	0.00	2.27	(3.50)	10.15
ITW	1.02	(0.05)	0.00	(0.13)	0.00	0.00	1.95	(2.48)	8.34
DOV	1.12	(0.07)	0.00	(0.13)	0.00	0.00	1.96	(2.85)	8.86
CR	1.48	(0.01)	0.00	(0.08)	0.00	0.00	2.75	(3.24)	16.18
FLS	1.60	(0.15)	0.00	(0.19)	0.00	0.00	2.74	(4.18)	10.01
HI	2.09	(0.17)	0.00	(0.17)	0.00	0.00	3.38	(5.05)	14.21
MIDD	1.25	0.21	0.16	0.18	1.25	(1.45)	1.89	(2.21)	19.44
IEX	1.12	(0.25)	0.00	(0.49)	0.00	0.00	1.95	(2.43)	12.03

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