Smith AO Correlations

AOS Stock

USD 70.30 0.45 0.64%

The current 90-days correlation between Smith AO and Dover is 0.72 (i.e., Poor diversification). The correlation of Smith AO 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.

Smith AO Correlation With Market

Poor diversification

The correlation between Smith AO and DJI is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Smith AO and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Smith Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Smith AO. 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 Smith Stock please use our How to Invest in Smith AO guide.

Moving together with Smith Stock

0.65	DOV	Dover Earnings Call This Week	Pair Corr
0.68	FLS	Flowserve Sell-off Trend	Pair Corr
0.61	GGG	Graco Inc Earnings Call This Week	Pair Corr
0.74	GRC	Gorman Rupp Earnings Call This Week	Pair Corr
0.72	IEX	IDEX	Pair Corr
0.68	ITW	Illinois Tool Works	Pair Corr
0.75	THR	Thermon Group Holdings	Pair Corr

Moving against Smith Stock

0.56

WFF

WF Holding Limited

Pair Corr

Related Correlations Analysis

	DOV	ITW	XYL	FELE	PNR	PH	EMR	ETN	CMI	GGG
DOV		0.94	0.95	0.66	0.97	0.98	0.91	0.94	0.97	0.98	DOV
ITW	0.94		0.88	0.75	0.93	0.92	0.88	0.89	0.88	0.93	ITW
XYL	0.95	0.88		0.49	0.98	0.97	0.91	0.95	0.94	0.96	XYL
FELE	0.66	0.75	0.49		0.59	0.59	0.6	0.61	0.53	0.65	FELE
PNR	0.97	0.93	0.98	0.59		0.98	0.94	0.96	0.94	0.96	PNR
PH	0.98	0.92	0.97	0.59	0.98		0.95	0.98	0.97	0.97	PH
EMR	0.91	0.88	0.91	0.6	0.94	0.95		0.98	0.9	0.9	EMR
ETN	0.94	0.89	0.95	0.61	0.96	0.98	0.98		0.94	0.93	ETN
CMI	0.97	0.88	0.94	0.53	0.94	0.97	0.9	0.94		0.94	CMI
GGG	0.98	0.93	0.96	0.65	0.96	0.97	0.9	0.93	0.94		GGG
	DOV	ITW	XYL	FELE	PNR	PH	EMR	ETN	CMI	GGG

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Risk-Adjusted Indicators

There is a big difference between Smith Stock performing well and Smith AO 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 Smith AO'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
DOV	0.99	0.07	0.08	0.19	0.81	(1.24)	2.06	(1.33)	7.11
ITW	0.89	0.01	0.01	0.14	0.84	(0.98)	2.27	(1.49)	5.91
XYL	0.90	0.17	0.17	0.31	0.58	(1.02)	2.33	(1.53)	5.32
FELE	1.27	(0.12)	(0.07)	0.03	1.32	(1.54)	3.03	(1.94)	7.07
PNR	1.20	0.18	0.23	0.24	0.73	(1.48)	3.04	(1.85)	11.67
PH	1.00	0.21	0.22	0.32	0.59	(1.14)	2.76	(1.75)	6.22
EMR	1.10	0.39	0.38	0.46	0.50	(1.34)	2.92	(1.33)	7.65
ETN	1.28	0.32	0.29	0.40	0.85	(1.70)	3.94	(2.02)	6.65
CMI	1.09	0.14	0.13	0.24	1.04	(1.21)	2.85	(2.33)	10.30
GGG	0.94	(0.02)	0.00	0.11	0.93	(1.14)	1.98	(1.68)	6.27

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