Rockwell Automation Correlations

ROK Stock

USD 258.79 0.70 0.27%

The current 90-days correlation between Rockwell Automation and Dover is 0.51 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Rockwell Automation moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Rockwell Automation moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Rockwell Automation Correlation With Market

Very weak diversification

The correlation between Rockwell Automation and DJI is 0.44 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Rockwell Automation and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Rockwell Automation. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

For more information on how to buy Rockwell Stock please use our How to buy in Rockwell Stock guide.

Moving together with Rockwell Stock

0.63	HI	Hillenbrand	Pair Corr
0.72	AME	Ametek Inc	Pair Corr
0.64	ATS	ATS Corporation	Pair Corr
0.76	CMI	Cummins	Pair Corr
0.63	DOV	Dover	Pair Corr
0.67	EMR	Emerson Electric	Pair Corr
0.62	ITT	ITT Inc	Pair Corr
0.7	SXI	Standex International	Pair Corr

Moving against Rockwell Stock

0.38

CYD

China Yuchai Interna

Pair Corr

Related Correlations Analysis

	DOV	ITW	IR	ETN	EMR	PH	CMI	PNR	AOS
DOV		0.42	0.5	0.21	0.78	0.97	0.84	0.54	-0.07	DOV
ITW	0.42		0.12	-0.19	0.29	0.36	0.31	0.06	0.26	ITW
IR	0.5	0.12		0.81	0.85	0.54	0.49	0.93	0.52	IR
ETN	0.21	-0.19	0.81		0.65	0.28	0.39	0.85	0.64	ETN
EMR	0.78	0.29	0.85	0.65		0.8	0.7	0.9	0.35	EMR
PH	0.97	0.36	0.54	0.28	0.8		0.82	0.59	-0.02	PH
CMI	0.84	0.31	0.49	0.39	0.7	0.82		0.59	0.07	CMI
PNR	0.54	0.06	0.93	0.85	0.9	0.59	0.59		0.54	PNR
AOS	-0.07	0.26	0.52	0.64	0.35	-0.02	0.07	0.54		AOS
	DOV	ITW	IR	ETN	EMR	PH	CMI	PNR	AOS

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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

PH	+ 0.97	DOV
PNR	+ 0.93	IR
PNR	+ 0.9	EMR
EMR	+ 0.85	IR
PNR	+ 0.85	ETN
CMI	+ 0.84	DOV

High negative correlations

ETN	- 0.19	ITW
AOS	- 0.07	DOV
AOS	- 0.02	PH

Risk-Adjusted Indicators

There is a big difference between Rockwell Stock performing well and Rockwell Automation 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 Rockwell Automation'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
DOV	1.13	(0.08)	(0.14)	1.96	(2.85)	8.86
ITW	1.02	(0.06)	(0.14)	1.95	(2.48)	8.34
IR	1.30	(0.25)	(0.29)	2.34	(2.57)	10.46
ETN	1.69	(0.18)	(0.26)	3.41	(3.54)	19.37
EMR	1.26	(0.12)	(0.17)	2.13	(2.68)	9.68
PH	1.27	(0.02)	(0.08)	2.27	(3.50)	10.15
CMI	1.25	(0.12)	(0.19)	1.83	(3.32)	9.77
PNR	1.10	(0.24)	(0.30)	1.78	(2.61)	6.53
AOS	1.05	(0.08)	(0.21)	2.14	(2.36)	7.41

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