Smiths Group Correlations
| SMGZY Stock | USD 25.96 0.22 0.84% |
The current 90-days correlation between Smiths Group Plc and Generac Holdings is 0.2 (i.e., Modest diversification). The correlation of Smiths Group 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.
Smiths Group Correlation With Market
Modest diversification
The correlation between Smiths Group Plc and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Smiths Group Plc and DJI in the same portfolio, assuming nothing else is changed.
Smiths |
The ability to find closely correlated positions to Smiths Group could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Smiths Group 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 Smiths Group - 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 Smiths Group Plc to buy it.
Moving together with Smiths Pink Sheet
| 0.89 | GE | GE Aerospace | PairCorr |
| 0.86 | SMAWF | Siemens AG Class | PairCorr |
| 0.9 | EC | Ecopetrol SA ADR | PairCorr |
| 0.95 | NVRO | Nevro Corp | PairCorr |
| 0.64 | INTC | Intel | PairCorr |
| 0.61 | PG | Procter Gamble | PairCorr |
| 0.92 | T | ATT Inc Earnings Call This Week | PairCorr |
| 0.78 | VZ | Verizon Communications | PairCorr |
| 0.77 | MCD | McDonalds | PairCorr |
| 0.83 | MMM | 3M Company | PairCorr |
| 0.92 | IBM | International Business | PairCorr |
| 0.86 | KO | Coca Cola | PairCorr |
Moving against Smiths Pink Sheet
| 0.79 | ETN | Eaton PLC Sell-off Trend | PairCorr |
| 0.66 | TLK | Telkom Indonesia Tbk | PairCorr |
| 0.61 | UHG | United Homes Group Downward Rally | PairCorr |
| 0.59 | PTAIY | Astra International Tbk | PairCorr |
| 0.5 | BKRKY | Bank Rakyat | PairCorr |
| 0.34 | EMR | Emerson Electric | PairCorr |
| 0.79 | MRK | Merck Company | PairCorr |
| 0.72 | MSFT | Microsoft | PairCorr |
| 0.56 | CAT | Caterpillar | PairCorr |
| 0.39 | HPQ | HP Inc | PairCorr |
| 0.36 | DIS | Walt Disney | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Smiths Pink Sheet performing well and Smiths Group 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 Smiths Group'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| VWDRY | 2.38 | 0.34 | 0.13 | 0.27 | 2.33 | 5.09 | 13.68 | |||
| SIEGY | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| SMR | 5.92 | 0.23 | 0.02 | 0.03 | 7.16 | 13.73 | 45.26 | |||
| BLDP | 3.19 | (0.26) | 0.00 | 1.99 | 0.00 | 8.00 | 21.90 | |||
| ROK | 1.25 | (0.12) | 0.00 | (0.19) | 0.00 | 2.01 | 16.50 | |||
| CMI | 1.25 | (0.12) | 0.00 | (0.19) | 0.00 | 1.83 | 9.77 | |||
| GNRC | 1.43 | (0.31) | 0.00 | (0.57) | 0.00 | 2.09 | 11.43 | |||
| PH | 1.27 | (0.02) | 0.00 | (0.08) | 0.00 | 2.27 | 10.15 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Smiths Group 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.Did you try this?
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Risk-Return AnalysisView associations between returns expected from investment and the risk you assume |
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Smiths Group Corporate Management
| Vera MBA | Chief Officer | Profile | |
| Paul Keel | CEO Director | Profile | |
| Clare Scherrer | CFO Director | Profile | |
| Samit Basu | Chief Officer | Profile | |
| Keir Boxshall | Head Innovation | Profile | |
| Melanie CBE | Group Counsel | Profile |