Ingersoll Rand Correlations

IR Stock

USD 81.67 0.46 0.56%

The current 90-days correlation between Ingersoll Rand and IDEX Corporation is 0.38 (i.e., Weak diversification). The correlation of Ingersoll Rand 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.

Ingersoll Rand Correlation With Market

Very weak diversification

The correlation between Ingersoll Rand and DJI is 0.57 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ingersoll Rand 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 Ingersoll Rand. 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.

To learn how to invest in Ingersoll Stock, please use our How to Invest in Ingersoll Rand guide.

Moving together with Ingersoll Stock

0.85	BW	Babcock Wilcox Enter	Pair Corr
0.66	HI	Hillenbrand	Pair Corr
0.79	ENOV	Enovis Corp	Pair Corr
0.63	CVV	CVD Equipment Earnings Call This Week	Pair Corr
0.64	CXT	Crane NXT	Pair Corr
0.84	EMR	Emerson Electric	Pair Corr
0.82	ETN	Eaton PLC	Pair Corr
0.75	FLS	Flowserve	Pair Corr
0.84	GHM	Graham	Pair Corr
0.85	IEX	IDEX	Pair Corr
0.81	ITT	ITT Inc	Pair Corr
0.77	MIR	Mirion Technologies	Pair Corr
0.64	XMTR	Xometry	Pair Corr
0.93	PNR	Pentair PLC	Pair Corr
0.88	RRX	Regal Beloit	Pair Corr
0.65	SMR	Nuscale Power Corp	Pair Corr
0.79	SXI	Standex International	Pair Corr
0.65	SYM	Symbotic	Pair Corr

Moving against Ingersoll Stock

0.84	CYD	China Yuchai Interna	Pair Corr
0.45	MWA	Mueller Water Products	Pair Corr
0.85	IVAC	Intevac	Pair Corr
0.31	XYL	Xylem Inc	Pair Corr

Related Correlations Analysis

	IEX	FLS	DCI	FELE	GGG	ITT	AME	DOV	ITW	ETN
IEX		0.73	0.42	-0.11	0.01	0.78	0.31	0.39	0.1	0.84	IEX
FLS	0.73		0.44	-0.03	0.05	0.9	0.38	0.73	-0.04	0.71	FLS
DCI	0.42	0.44		0.57	0.65	0.68	0.63	0.63	0.66	0.25	DCI
FELE	-0.11	-0.03	0.57		0.88	0.27	0.66	0.54	0.84	-0.23	FELE
GGG	0.01	0.05	0.65	0.88		0.38	0.76	0.5	0.9	-0.06	GGG
ITT	0.78	0.9	0.68	0.27	0.38		0.6	0.8	0.32	0.69	ITT
AME	0.31	0.38	0.63	0.66	0.76	0.6		0.74	0.74	0.15	AME
DOV	0.39	0.73	0.63	0.54	0.5	0.8	0.74		0.42	0.21	DOV
ITW	0.1	-0.04	0.66	0.84	0.9	0.32	0.74	0.42		-0.1	ITW
ETN	0.84	0.71	0.25	-0.23	-0.06	0.69	0.15	0.21	-0.1		ETN
	IEX	FLS	DCI	FELE	GGG	ITT	AME	DOV	ITW	ETN

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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

ITT	+ 0.9	FLS
ITW	+ 0.9	GGG
GGG	+ 0.88	FELE
ETN	+ 0.84	IEX
ITW	+ 0.84	FELE
DOV	+ 0.8	ITT

High negative correlations

ETN	- 0.23	FELE
FELE	- 0.11	IEX
ETN	- 0.1	ITW
ETN	- 0.06	GGG
ITW	- 0.04	FLS
FELE	- 0.03	FLS

Risk-Adjusted Indicators

There is a big difference between Ingersoll Stock performing well and Ingersoll Rand 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 Ingersoll Rand'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
IEX	1.14	(0.27)	(0.52)	1.95	(2.43)	12.03
FLS	1.59	(0.16)	(0.20)	2.74	(4.18)	10.01
DCI	0.98	(0.02)	(0.10)	1.91	(2.15)	4.34
FELE	1.03	(0.05)	(0.13)	2.00	(1.71)	8.22
GGG	0.99	(0.05)	(0.13)	1.60	(2.25)	4.96
ITT	1.28	(0.08)	(0.14)	2.91	(2.75)	7.23
AME	0.91	(0.04)	(0.13)	2.05	(1.97)	4.95
DOV	1.12	(0.05)	(0.12)	1.96	(2.86)	8.86
ITW	1.00	(0.03)	(0.11)	1.95	(2.48)	8.34
ETN	1.70	(0.21)	(0.29)	3.41	(3.54)	19.37

Ingersoll Rand Corporate Management

Matthew Fort	Global Relations	Profile
Matthew Emmerich	Senior Officer	Profile
Peter Stavros	Independent Chairman of the Board	Profile
Kathryn Freytag	VP Officer	Profile
Kate Keene	Senior Vice President of Human Resources, Talent, Diversity, Equity and Inclusion	Profile

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