Flowserve Correlations

FLS Stock

USD 54.36 0.38 0.69%

The current 90-days correlation between Flowserve and IDEX Corporation is 0.64 (i.e., Poor diversification). The correlation of Flowserve 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.

Flowserve Correlation With Market

Very weak diversification

The correlation between Flowserve and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Flowserve and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Flowserve Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Flowserve. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

For more information on how to buy Flowserve Stock please use our How to Invest in Flowserve guide.

Moving together with Flowserve Stock

0.7	CR	Crane Company Earnings Call This Week	Pair Corr
0.86	IR	Ingersoll Rand Earnings Call This Week	Pair Corr
0.91	PH	Parker Hannifin	Pair Corr
0.83	FELE	Franklin Electric	Pair Corr
0.71	AME	Ametek Inc Earnings Call This Week	Pair Corr
0.63	AOS	Smith AO	Pair Corr
0.85	CMI	Cummins Earnings Call This Week	Pair Corr
0.72	CXT	Crane NXT	Pair Corr
0.81	DCI	Donaldson	Pair Corr
0.93	DOV	Dover	Pair Corr
0.78	EMR	Emerson Electric Sell-off Trend	Pair Corr
0.85	ETN	Eaton PLC	Pair Corr
0.72	GEV	GE Vernova LLC	Pair Corr
0.83	GGG	Graco Inc	Pair Corr
0.67	GHM	Graham	Pair Corr
0.72	GRC	Gorman Rupp	Pair Corr
0.81	ITT	ITT Inc Earnings Call This Week	Pair Corr
0.88	ITW	Illinois Tool Works Earnings Call This Week	Pair Corr
0.67	KAI	Kadant Inc	Pair Corr
0.76	NPO	Enpro Industries	Pair Corr
0.87	PNR	Pentair PLC	Pair Corr
0.74	ROK	Rockwell Automation	Pair Corr
0.76	RRX	Regal Beloit Earnings Call This Week	Pair Corr

Moving against Flowserve Stock

0.47	EPAC	Enerpac Tool Group	Pair Corr
0.69	WFF	WF Holding Limited	Pair Corr

Related Correlations Analysis

	IEX	DCI	IR	FELE	GGG	AME	WTS	GRC	EPAC
IEX		0.63	0.54	0.4	0.55	0.54	0.5	0.87	0.19	IEX
DCI	0.63		0.95	0.67	0.91	0.93	0.95	0.71	-0.2	DCI
IR	0.54	0.95		0.75	0.93	0.88	0.94	0.67	-0.37	IR
FELE	0.4	0.67	0.75		0.79	0.54	0.59	0.66	-0.54	FELE
GGG	0.55	0.91	0.93	0.79		0.87	0.89	0.72	-0.31	GGG
AME	0.54	0.93	0.88	0.54	0.87		0.92	0.63	-0.04	AME
WTS	0.5	0.95	0.94	0.59	0.89	0.92		0.57	-0.2	WTS
GRC	0.87	0.71	0.67	0.66	0.72	0.63	0.57		0.01	GRC
EPAC	0.19	-0.2	-0.37	-0.54	-0.31	-0.04	-0.2	0.01		EPAC
	IEX	DCI	IR	FELE	GGG	AME	WTS	GRC	EPAC

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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

IR	+ 0.95	DCI
WTS	+ 0.95	DCI
WTS	+ 0.94	IR
AME	+ 0.93	DCI
GGG	+ 0.93	IR
WTS	+ 0.92	AME

High negative correlations

EPAC	- 0.54	FELE
EPAC	- 0.37	IR
EPAC	- 0.31	GGG
EPAC	- 0.2	WTS
EPAC	- 0.2	DCI
EPAC	- 0.04	AME

Risk-Adjusted Indicators

There is a big difference between Flowserve Stock performing well and Flowserve 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 Flowserve'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
IEX	1.07	(0.15)	(0.11)	0.10	1.09	(1.40)	2.53	(2.13)	8.03
DCI	0.81	(0.07)	(0.11)	0.15	0.73	(0.93)	2.18	(1.47)	6.30
IR	1.13	(0.03)	0.01	0.21	0.99	(1.26)	2.55	(1.94)	8.69
FELE	1.22	(0.19)	(0.13)	0.06	1.26	(1.48)	3.03	(1.89)	5.49
GGG	0.90	(0.09)	(0.15)	0.10	0.99	(1.08)	1.90	(1.68)	6.51
AME	0.85	(0.08)	(0.12)	0.14	0.82	(0.93)	1.50	(1.44)	6.17
WTS	1.10	0.08	0.09	0.30	0.77	(1.31)	2.13	(1.36)	13.45
GRC	1.09	(0.15)	(0.09)	0.10	1.14	(1.18)	2.93	(2.20)	6.68
EPAC	1.27	(0.32)	0.00	(0.12)	0.00	0.00	3.08	(2.80)	10.80

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