Spirax-Sarco Engineering Correlations
| SPXSY Stock | USD 45.21 0.02 0.04% |
The current 90-days correlation between Spirax-Sarco Engineering and IDEX Corporation is 0.22 (i.e., Modest diversification). The correlation of Spirax-Sarco Engineering 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.
Spirax-Sarco Engineering Correlation With Market
Modest diversification
The correlation between Spirax Sarco Engineering PLC and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Spirax Sarco Engineering PLC and DJI in the same portfolio, assuming nothing else is changed.
Spirax-Sarco |
The ability to find closely correlated positions to Spirax-Sarco Engineering could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Spirax-Sarco Engineering 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 Spirax-Sarco Engineering - 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 Spirax Sarco Engineering PLC to buy it.
Moving together with Spirax-Sarco Pink Sheet
| 0.68 | GE | GE Aerospace | PairCorr |
| 0.64 | PH | Parker Hannifin | PairCorr |
| 0.66 | GOTRF | Goliath Resources | PairCorr |
| 0.63 | FANUF | Fanuc | PairCorr |
| 0.72 | CHT | Chunghwa Telecom | PairCorr |
| 0.61 | CLLNY | Cellnex Telecom SA | PairCorr |
| 0.64 | BTT | Blackrock Municipal | PairCorr |
Moving against Spirax-Sarco Pink Sheet
| 0.68 | BOWL | Bowlero Corp Symbol Change | PairCorr |
| 0.52 | INBX | Inhibrx Symbol Change | PairCorr |
| 0.32 | MVST | Microvast Holdings Aggressive Push | PairCorr |
| 0.64 | CHNXF | ChitogenX | PairCorr |
| 0.52 | QMCO | Quantum Trending | PairCorr |
| 0.35 | SAVA | Cassava Sciences | 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
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Risk-Adjusted Indicators
There is a big difference between Spirax-Sarco Pink Sheet performing well and Spirax-Sarco Engineering 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 Spirax-Sarco Engineering'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| ATLPF | 0.86 | 0.18 | 0.00 | 0.67 | 0.00 | 2.75 | 13.64 | |||
| AUUMF | 0.97 | 0.09 | 0.00 | 0.12 | 0.00 | 0.00 | 18.46 | |||
| AMROF | 1.33 | (0.23) | 0.00 | 0.23 | 0.00 | 5.00 | 53.09 | |||
| ASPW | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| ATLFF | 0.30 | 0.09 | 0.00 | 1.15 | 0.00 | 0.00 | 6.07 | |||
| KNYJF | 0.44 | 0.14 | 0.00 | (3.80) | 0.00 | 1.67 | 6.63 | |||
| ATLCY | 1.43 | 0.18 | 0.10 | 0.12 | 1.83 | 2.75 | 11.30 | |||
| VWSYF | 2.54 | 0.28 | 0.11 | 0.27 | 2.59 | 6.07 | 12.77 | |||
| IEX | 1.14 | (0.26) | 0.00 | (0.52) | 0.00 | 1.95 | 12.03 | |||
| MIDD | 1.28 | 0.20 | 0.15 | 0.15 | 1.37 | 1.89 | 19.44 |
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Spirax-Sarco Engineering Corporate Management
| BSc Eng | Group Director | Profile | |
| Dan Harvey | Head Audit | Profile | |
| Andrew Mines | Managing WatsonMarlow | Profile | |
| Sarah Peers | Group Sustainability | Profile | |
| Jennifer Forrester | Head Experience | Profile | |
| Nimesh BSc | CFO Director | Profile | |
| Shaun Laubscher | Head Devel | Profile |