Chart Industries Correlations

GTLS-PB Preferred Stock

58.71 0.28 0.47%

The current 90-days correlation between Chart Industries and Babcock Wilcox Enterprises is 0.17 (i.e., Average diversification). The correlation of Chart Industries 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.

Chart Industries Correlation With Market

Very weak diversification

The correlation between Chart Industries and DJI is 0.47 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Chart Industries and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Chart Preferred Stock

0.71	BW	Babcock Wilcox Enter	Pair Corr
0.92	HI	Hillenbrand	Pair Corr
0.76	IR	Ingersoll Rand	Pair Corr
0.72	PH	Parker Hannifin	Pair Corr
0.73	CMI	Cummins	Pair Corr
0.92	CXT	Crane NXT	Pair Corr
0.68	DOV	Dover	Pair Corr
0.86	EMR	Emerson Electric	Pair Corr
0.75	ETN	Eaton PLC	Pair Corr
0.95	FLS	Flowserve	Pair Corr
0.86	GHM	Graham	Pair Corr
0.84	IEX	IDEX	Pair Corr
0.88	ITT	ITT Inc	Pair Corr
0.64	MIR	Mirion Technologies	Pair Corr
0.65	XMTR	Xometry	Pair Corr
0.89	PNR	Pentair PLC	Pair Corr
0.86	RRX	Regal Beloit	Pair Corr
0.77	SMR	Nuscale Power Corp	Pair Corr
0.87	SYM	Symbotic	Pair Corr

Moving against Chart Preferred Stock

0.55

MWA

Mueller Water Products

Pair Corr

Related Correlations Analysis

	BW-PA	MS-PP	NSA-PA	AQUI	LBHIX	MSTSX	VIASP	RRTLX	OSHDF	70082LAB3
BW-PA		-0.28	0.37	0.57	-0.62	0.13	-0.86	-0.21	-0.52	0.64	BW-PA
MS-PP	-0.28		-0.09	-0.2	0.52	0.24	0.32	0.54	0.19	-0.31	MS-PP
NSA-PA	0.37	-0.09		0.48	-0.2	0.36	-0.36	0.08	-0.46	-0.03	NSA-PA
AQUI	0.57	-0.2	0.48		-0.22	0.58	-0.59	0.2	-1.0	0.21	AQUI
LBHIX	-0.62	0.52	-0.2	-0.22		0.35	0.58	0.73	0.17	-0.36	LBHIX
MSTSX	0.13	0.24	0.36	0.58	0.35		-0.18	0.8	-0.61	-0.1	MSTSX
VIASP	-0.86	0.32	-0.36	-0.59	0.58	-0.18		0.13	0.54	-0.66	VIASP
RRTLX	-0.21	0.54	0.08	0.2	0.73	0.8	0.13		-0.23	-0.2	RRTLX
OSHDF	-0.52	0.19	-0.46	-1.0	0.17	-0.61	0.54	-0.23		-0.16	OSHDF
70082LAB3	0.64	-0.31	-0.03	0.21	-0.36	-0.1	-0.66	-0.2	-0.16		70082LAB3
	BW-PA	MS-PP	NSA-PA	AQUI	LBHIX	MSTSX	VIASP	RRTLX	OSHDF	70082LAB3

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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

RRTLX	+ 0.8	MSTSX
RRTLX	+ 0.73	LBHIX
70082LAB3	+ 0.64	BW-PA
MSTSX	+ 0.58	AQUI
VIASP	+ 0.58	LBHIX
AQUI	+ 0.57	BW-PA

High negative correlations

OSHDF	- 1.0	AQUI
VIASP	- 0.86	BW-PA
70082LAB3	- 0.66	VIASP
LBHIX	- 0.62	BW-PA
OSHDF	- 0.61	MSTSX
VIASP	- 0.59	AQUI

Risk-Adjusted Indicators

There is a big difference between Chart Preferred Stock performing well and Chart Industries 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 Chart Industries' 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
BW-PA	1.66	(0.36)	0.00	(0.83)	0.00	0.00	3.70	(3.70)	10.51
MS-PP	0.26	0.02	0.22	0.11	0.29	(0.29)	0.55	(0.47)	2.00
NSA-PA	0.68	(0.04)	0.00	(1.05)	0.00	0.00	1.55	(1.47)	4.21
AQUI	4.21	(2.20)	0.00	8.74	0.00	0.00	0.00	0.00	93.33
LBHIX	0.14	0.01	0.23	0.07	0.11	(0.29)	0.24	(0.24)	1.20
MSTSX	0.69	(0.06)	0.00	(0.17)	0.00	0.00	1.31	(1.47)	5.76
VIASP	0.58	0.17	0.31	1.09	0.48	(0.66)	1.10	(0.99)	4.05
RRTLX	0.31	0.00	0.00	(0.08)	0.00	0.00	0.57	(0.57)	1.65
OSHDF	7.76	3.96	0.00	8.25	0.00	0.00	0.00	0.00	260.00
70082LAB3	1.05	(0.06)	0.00	0.79	0.00	0.00	0.89	(1.44)	15.33

Be your own money manager

Our tools can tell you how much better you can do entering a position in Chart Industries 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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