Timken Correlations
| TKR Stock | USD 74.69 0.75 0.99% |
The current 90-days correlation between Timken Company and Toro Co is 0.43 (i.e., Very weak diversification). The correlation of Timken 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.
Timken Correlation With Market
Very weak diversification
The correlation between Timken Company 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 Timken Company and DJI in the same portfolio, assuming nothing else is changed.
Timken |
Moving together with Timken Stock
| 0.82 | RBC | RBC Bearings | PairCorr |
| 0.79 | SWK | Stanley Black Decker | PairCorr |
| 0.73 | LECO | Lincoln Electric Holdings | PairCorr |
| 0.76 | CP | Canadian Pacific Railway | PairCorr |
| 0.79 | CR | Crane Company | PairCorr |
| 0.73 | DE | Deere Company | PairCorr |
| 0.61 | EH | Ehang Holdings Downward Rally | PairCorr |
| 0.8 | GE | GE Aerospace | PairCorr |
| 0.64 | KC | Kingsoft Cloud Holdings | PairCorr |
| 0.72 | MG | Mistras Group | PairCorr |
Moving against Timken Stock
| 0.36 | KMT | Kennametal | PairCorr |
| 0.35 | CVR | Chicago Rivet Machine Earnings Call This Week | PairCorr |
| 0.35 | BW | Babcock Wilcox Enter | PairCorr |
| 0.61 | GD | General Dynamics | PairCorr |
| 0.48 | NL | NL Industries | PairCorr |
| 0.33 | NX | Quanex Building Products | 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 Timken Stock performing well and Timken 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 Timken'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| TTC | 1.40 | (0.22) | 0.00 | (0.32) | 0.00 | 2.85 | 8.48 | |||
| KMT | 1.21 | (0.28) | 0.00 | (0.70) | 0.00 | 1.82 | 7.36 | |||
| SNA | 0.92 | (0.03) | 0.00 | (0.12) | 0.00 | 1.77 | 6.57 | |||
| SCX | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| EML | 1.76 | (0.04) | 0.00 | (0.12) | 0.00 | 4.56 | 9.74 | |||
| LECO | 1.25 | 0.00 | 0.00 | (0.07) | 0.00 | 2.91 | 13.78 | |||
| HLMN | 1.54 | (0.24) | 0.00 | (0.31) | 0.00 | 2.80 | 7.61 | |||
| RBCP | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| SWK | 1.43 | 0.08 | 0.04 | (0.01) | 1.78 | 2.68 | 8.98 |