Donaldson Correlations

DCI Stock

USD 86.86 0.94 1.09%

The current 90-days correlation between Donaldson and Watts Water Technologies is 0.52 (i.e., Very weak diversification). The correlation of Donaldson 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.

Donaldson Correlation With Market

Very weak diversification

The correlation between Donaldson and DJI is 0.46 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Donaldson and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Donaldson Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Donaldson. 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 more detail on how to invest in Donaldson Stock please use our How to Invest in Donaldson guide.

Moving together with Donaldson Stock

0.75	HI	Hillenbrand Earnings Call This Week	Pair Corr
0.76	PL	Planet Labs PBC	Pair Corr
0.7	RR	Richtech Robotics Class Earnings Call This Week	Pair Corr
0.67	601608	CITIC Heavy Industries	Pair Corr
0.61	DPRO	Draganfly Buyout Trend	Pair Corr
0.66	688392	SBT Ultrasonic Technology	Pair Corr
0.69	688190	Qingdao Yunlu Advanced	Pair Corr
0.74	RNO	Renold	Pair Corr
0.66	301148	Xiamen Jiarong Technology	Pair Corr
0.78	688028	Beijing Worldia Diamond	Pair Corr

Moving against Donaldson Stock

0.84	AZ	A2Z Smart Technologies	Pair Corr
0.82	0ACC	Accelleron Industries	Pair Corr
0.7	600765	AVIC Heavy Machinery	Pair Corr
0.62	600666	Aurora Optoelectronics	Pair Corr
0.53	688420	Tianjin Meiteng Tech	Pair Corr
0.49	BRCK	Brickability Group Plc	Pair Corr
0.39	601890	Asian Star Anchor	Pair Corr
0.37	CR	Crane Company	Pair Corr
0.34	HY	Hyster Yale Materials	Pair Corr
0.74	LAKPRE	Lakshmi Precision Screws	Pair Corr
0.63	301317	Xinlei Compressor	Pair Corr
0.59	002774	IFE Elevators	Pair Corr
0.46	300263	Luoyang Longhua Heat	Pair Corr
0.41	EVEX	Eve Holding Earnings Call This Week	Pair Corr
0.36	002795	Yorhe Fluid Intelligent	Pair Corr

Related Correlations Analysis

	WTS	AOS	RRX	PSN	GTLS	CR	AIT	GNRC	SPXC	CNM
WTS		0.47	0.45	0.04	0.15	-0.23	0.23	0.0	-0.33	-0.13	WTS
AOS	0.47		0.41	-0.35	-0.19	-0.18	0.57	0.33	-0.63	0.31	AOS
RRX	0.45	0.41		0.08	-0.36	0.31	0.39	0.44	-0.35	0.47	RRX
PSN	0.04	-0.35	0.08		0.53	-0.26	-0.57	-0.34	0.05	-0.42	PSN
GTLS	0.15	-0.19	-0.36	0.53		-0.63	-0.48	-0.56	-0.01	-0.72	GTLS
CR	-0.23	-0.18	0.31	-0.26	-0.63		0.46	0.46	0.5	0.58	CR
AIT	0.23	0.57	0.39	-0.57	-0.48	0.46		0.3	0.01	0.55	AIT
GNRC	0.0	0.33	0.44	-0.34	-0.56	0.46	0.3		-0.35	0.53	GNRC
SPXC	-0.33	-0.63	-0.35	0.05	-0.01	0.5	0.01	-0.35		-0.08	SPXC
CNM	-0.13	0.31	0.47	-0.42	-0.72	0.58	0.55	0.53	-0.08		CNM
	WTS	AOS	RRX	PSN	GTLS	CR	AIT	GNRC	SPXC	CNM

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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

CNM	+ 0.58	CR
AIT	+ 0.57	AOS
CNM	+ 0.55	AIT
GTLS	+ 0.53	PSN
CNM	+ 0.53	GNRC
SPXC	+ 0.5	CR

High negative correlations

CNM	- 0.72	GTLS
CR	- 0.63	GTLS
SPXC	- 0.63	AOS
AIT	- 0.57	PSN
GNRC	- 0.56	GTLS
AIT	- 0.48	GTLS

Risk-Adjusted Indicators

There is a big difference between Donaldson Stock performing well and Donaldson 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 Donaldson'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
WTS	1.13	(0.05)	(0.01)	0.06	1.56	(1.25)	2.17	(2.32)	10.08
AOS	1.02	(0.21)	0.00	(0.07)	0.00	0.00	2.50	(2.58)	7.19
RRX	2.02	(0.31)	0.00	(0.01)	0.00	0.00	4.09	(4.07)	15.32
PSN	1.46	0.08	0.05	0.16	1.71	(1.70)	2.80	(2.70)	13.98
GTLS	0.15	0.00	(0.49)	0.05	0.14	(0.16)	0.37	(0.31)	0.74
CR	1.13	(0.16)	0.00	(0.03)	0.00	0.00	2.01	(2.32)	6.44
AIT	1.23	(0.14)	0.00	(0.01)	0.00	0.00	2.88	(2.09)	9.56
GNRC	1.98	(0.47)	0.00	(0.18)	0.00	0.00	2.77	(4.89)	13.91
SPXC	1.47	0.05	0.03	0.15	1.64	(1.57)	3.01	(2.77)	16.51
CNM	1.71	(0.38)	0.00	(0.29)	0.00	0.00	2.76	(2.65)	28.13

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