Lennox International Correlations

LII Stock

USD 569.55 9.22 1.59%

The current 90-days correlation between Lennox International and Masco is 0.59 (i.e., Very weak diversification). The correlation of Lennox International 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.

Lennox International Correlation With Market

Very weak diversification

The correlation between Lennox International and DJI is 0.52 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Lennox International and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Lennox International. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

For more detail on how to invest in Lennox Stock please use our How to Invest in Lennox International guide.

Moving together with Lennox Stock

0.74	NX	Quanex Building Products	Pair Corr
0.65	OC	Owens Corning	Pair Corr
0.81	TT	Trane Technologies plc	Pair Corr
0.77	FBIN	Fortune Brands Innov	Pair Corr
0.75	CSL	Carlisle Companies	Pair Corr
0.66	GMS	GMS Inc	Pair Corr
0.68	WMS	Advanced Drainage Systems	Pair Corr
0.73	AAON	AAON Inc	Pair Corr
0.63	AZEK	Azek Company	Pair Corr
0.61	BLDR	Builders FirstSource	Pair Corr
0.64	TILE	Interface	Pair Corr
0.64	TREX	Trex Company	Pair Corr
0.71	CARR	Carrier Global Corp	Pair Corr
0.68	J	Jacobs Solutions	Pair Corr
0.7	R	Ryder System	Pair Corr

Moving against Lennox Stock

0.4	EH	Ehang Holdings	Pair Corr
0.38	G	Genpact Limited	Pair Corr
0.38	GE	GE Aerospace	Pair Corr

Related Correlations Analysis

	CARR	JCI	MAS	CSL	FBIN	TT	DOOR	JBI	ROCK
CARR		-0.2	0.07	0.66	0.57	0.76	0.0	-0.45	0.02	CARR
JCI	-0.2		0.23	-0.29	-0.08	-0.08	0.0	0.36	0.04	JCI
MAS	0.07	0.23		0.56	0.72	0.37	0.0	0.33	-0.05	MAS
CSL	0.66	-0.29	0.56		0.93	0.89	0.0	-0.36	-0.3	CSL
FBIN	0.57	-0.08	0.72	0.93		0.84	0.0	-0.28	-0.36	FBIN
TT	0.76	-0.08	0.37	0.89	0.84		0.0	-0.56	-0.37	TT
DOOR	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	DOOR
JBI	-0.45	0.36	0.33	-0.36	-0.28	-0.56	0.0		0.51	JBI
ROCK	0.02	0.04	-0.05	-0.3	-0.36	-0.37	0.0	0.51		ROCK
	CARR	JCI	MAS	CSL	FBIN	TT	DOOR	JBI	ROCK

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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

FBIN	+ 0.93	CSL
TT	+ 0.89	CSL
TT	+ 0.84	FBIN
TT	+ 0.76	CARR
FBIN	+ 0.72	MAS
CSL	+ 0.66	CARR

High negative correlations

JBI	- 0.56	TT
JBI	- 0.45	CARR
ROCK	- 0.37	TT
ROCK	- 0.36	FBIN
JBI	- 0.36	CSL
ROCK	- 0.3	CSL

Risk-Adjusted Indicators

There is a big difference between Lennox Stock performing well and Lennox International 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 Lennox International'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
CARR	1.47	(0.07)	0.00	(0.13)	0.00	0.00	3.09	(3.41)	6.88
JCI	1.43	0.10	0.05	0.02	1.77	(1.66)	2.45	(3.62)	15.28
MAS	1.26	(0.11)	0.00	(0.18)	0.00	0.00	2.35	(2.45)	6.69
CSL	1.39	(0.26)	0.00	(0.34)	0.00	0.00	2.31	(2.53)	11.26
FBIN	1.28	(0.22)	0.00	(0.31)	0.00	0.00	2.49	(3.04)	7.58
TT	1.18	(0.14)	0.00	(0.23)	0.00	0.00	2.05	(2.33)	10.34
DOOR	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
JBI	2.14	0.11	0.04	0.03	2.64	(2.32)	5.26	(5.02)	19.17
ROCK	1.59	(0.06)	0.00	(0.13)	0.00	0.00	3.06	(4.25)	15.02

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