SPX Corp Correlations

SPXC Stock

USD 133.68 1.74 1.28%

The current 90-days correlation between SPX Corp and Enpro Industries is 0.44 (i.e., Very weak diversification). The correlation of SPX Corp 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.

SPX Corp Correlation With Market

Very weak diversification

The correlation between SPX Corp and DJI is 0.45 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPX Corp and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in SPX Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in interest.

For information on how to trade SPX Stock refer to our How to Trade SPX Stock guide.

Moving together with SPX Stock

0.7	NX	Quanex Building Products	Pair Corr
0.84	OC	Owens Corning	Pair Corr
0.72	TT	Trane Technologies plc	Pair Corr
0.79	FBIN	Fortune Brands Innov	Pair Corr
0.64	AWI	Armstrong World Indu	Pair Corr
0.71	CSL	Carlisle Companies	Pair Corr
0.85	GMS	GMS Inc	Pair Corr
0.73	LMB	Limbach Holdings	Pair Corr
0.83	LPX	Louisiana Pacific	Pair Corr
0.69	MAS	Masco	Pair Corr
0.81	WMS	Advanced Drainage Systems	Pair Corr
0.77	JELD	Jeld Wen Holding	Pair Corr
0.75	PPIH	Perma Pipe Internati	Pair Corr
0.73	AAON	AAON Inc	Pair Corr
0.65	ASPN	Aspen Aerogels	Pair Corr
0.89	AZEK	Azek Company	Pair Corr
0.8	BLDR	Builders FirstSource	Pair Corr
0.85	TREX	Trex Company	Pair Corr
0.77	CSTE	Caesarstone	Pair Corr
0.7	J	Jacobs Solutions	Pair Corr
0.7	R	Ryder System	Pair Corr

Moving against SPX Stock

0.35

Ehang Holdings

Pair Corr

Related Correlations Analysis

	SXI	NPO	THR	EPAC	IBP
SXI		0.46	0.62	0.63	0.6	SXI
NPO	0.46		0.33	0.76	0.13	NPO
THR	0.62	0.33		0.54	0.36	THR
EPAC	0.63	0.76	0.54		0.38	EPAC
IBP	0.6	0.13	0.36	0.38		IBP
	SXI	NPO	THR	EPAC	IBP

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Risk-Adjusted Indicators

There is a big difference between SPX Stock performing well and SPX Corp 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 SPX Corp'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
SXI	1.34	(0.17)	(0.30)	2.23	(3.64)	7.91
NPO	1.53	(0.02)	(0.11)	2.15	(3.19)	10.90
THR	1.53	0.00	(0.09)	3.77	(3.32)	9.97
EPAC	1.32	(0.05)	(0.15)	2.21	(2.97)	6.65
IBP	1.84	(0.22)	(0.27)	3.74	(4.87)	12.76

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