Chart Industries Correlations

GTLS Stock

USD 155.18 0.16 0.10%

The current 90-days correlation between Chart Industries and Crane NXT Co is 0.45 (i.e., Very weak 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Chart Industries Correlation With Market

Very weak diversification

The correlation between Chart Industries and DJI is 0.49 (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.

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

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

Moving together with Chart Stock

0.73	BW	Babcock Wilcox Enter	Pair Corr
0.92	HI	Hillenbrand	Pair Corr
0.77	IR	Ingersoll Rand	Pair Corr
0.72	PH	Parker Hannifin	Pair Corr
0.93	ENOV	Enovis Corp	Pair Corr
0.74	CMI	Cummins	Pair Corr
0.61	CVV	CVD Equipment Earnings Call This Week	Pair Corr
0.91	CXT	Crane NXT	Pair Corr
0.68	DOV	Dover	Pair Corr
0.86	EMR	Emerson Electric	Pair Corr
0.76	ETN	Eaton PLC Sell-off Trend	Pair Corr
0.95	FLS	Flowserve	Pair Corr
0.86	GHM	Graham	Pair Corr
0.84	IEX	IDEX	Pair Corr
0.89	ITT	ITT Inc Sell-off Trend	Pair Corr
0.68	MIR	Mirion Technologies	Pair Corr
0.63	XMTR	Xometry	Pair Corr
0.89	PNR	Pentair PLC	Pair Corr
0.81	RRX	Regal Beloit	Pair Corr
0.77	SMR	Nuscale Power Corp	Pair Corr
0.86	SYM	Symbotic	Pair Corr

Moving against Chart Stock

0.79	CYD	China Yuchai Interna	Pair Corr
0.55	MWA	Mueller Water Products	Pair Corr
0.73	IVAC	Intevac	Pair Corr

Related Correlations Analysis

	CXT	DCI	CIR	ITT	FELE	GGG	IEX	IR	JBT	HLIO
CXT		0.5	0.0	0.83	-0.14	-0.07	0.78	0.69	0.0	0.65	CXT
DCI	0.5		0.0	0.67	0.52	0.61	0.38	0.49	0.0	0.25	DCI
CIR	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	CIR
ITT	0.83	0.67	0.0		0.22	0.34	0.77	0.81	0.0	0.72	ITT
FELE	-0.14	0.52	0.0	0.22		0.86	-0.18	-0.04	0.0	-0.11	FELE
GGG	-0.07	0.61	0.0	0.34	0.86		-0.06	0.1	0.0	-0.01	GGG
IEX	0.78	0.38	0.0	0.77	-0.18	-0.06		0.85	0.0	0.88	IEX
IR	0.69	0.49	0.0	0.81	-0.04	0.1	0.85		0.0	0.91	IR
JBT	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	JBT
HLIO	0.65	0.25	0.0	0.72	-0.11	-0.01	0.88	0.91	0.0		HLIO
	CXT	DCI	CIR	ITT	FELE	GGG	IEX	IR	JBT	HLIO

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

HLIO	+ 0.91	IR
HLIO	+ 0.88	IEX
GGG	+ 0.86	FELE
IR	+ 0.85	IEX
ITT	+ 0.83	CXT
IR	+ 0.81	ITT

High negative correlations

IEX	- 0.18	FELE
FELE	- 0.14	CXT
HLIO	- 0.11	FELE
GGG	- 0.07	CXT
IEX	- 0.06	GGG
IR	- 0.04	FELE

Risk-Adjusted Indicators

There is a big difference between Chart 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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
CXT	1.26	(0.12)	(0.20)	2.27	(2.74)	8.03
DCI	1.01	(0.05)	(0.13)	1.91	(2.15)	4.34
CIR	0.00	0.00	0.00	0.00	0.00	0.00
ITT	1.28	(0.08)	(0.13)	2.91	(2.75)	7.23
FELE	1.06	(0.08)	(0.17)	2.00	(2.17)	8.22
GGG	0.97	(0.04)	(0.12)	1.60	(2.25)	4.96
IEX	1.13	(0.26)	(0.50)	1.95	(2.43)	12.03
IR	1.30	(0.25)	(0.29)	2.34	(2.57)	10.46
JBT	0.00	0.00	0.00	0.00	0.00	0.00
HLIO	1.45	(0.55)	(0.55)	2.65	(4.00)	11.98

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC