Graco Correlations

Stocks . USA . 
Stock . Graco Inc
GGG Stock  USD 84.75  0.09  0.11%   
The current 90-days correlation between Graco Inc and Franklin Electric Co is 0.2 (i.e., Modest diversification). The correlation of Graco 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.

Graco Correlation With Market

Modest diversification

The correlation between Graco Inc and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Graco Inc and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Graco Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with Graco Stock

  0.78CR Crane CompanyPairCorr
  0.78HI HillenbrandPairCorr
  0.82IR Ingersoll RandPairCorr
  0.86PH Parker HannifinPairCorr
  0.65EPAC Enerpac Tool GroupPairCorr
  0.81FELE Franklin ElectricPairCorr
  0.73AME Ametek IncPairCorr
  0.79CMI CumminsPairCorr
  0.74CXT Crane NXTPairCorr
  0.82DOV DoverPairCorr
  0.79EMR Emerson ElectricPairCorr
  0.75ETN Eaton PLCPairCorr
  0.75FLS FlowservePairCorr
  0.76GHM GrahamPairCorr
  0.9GRC Gorman RuppPairCorr
  0.76IEX IDEXPairCorr
  0.88ITT ITT IncPairCorr
  0.8ITW Illinois Tool WorksPairCorr
  0.86KAI Kadant IncPairCorr
  0.82MWA Mueller Water ProductsPairCorr
  0.79NPO Enpro IndustriesPairCorr
  0.76PNR Pentair PLCPairCorr
  0.69ROK Rockwell AutomationPairCorr
  0.81SXI Standex InternationalPairCorr
  0.88THR Thermon Group HoldingsPairCorr

Moving against Graco Stock

  0.63MKDWW MKDWELL Tech WarrantsPairCorr
  0.46GTEC Greenland Acquisition Earnings Call This WeekPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Graco Stock performing well and Graco 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 Graco'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
FELE  1.10 (0.10) 0.00 (0.03) 0.00 
 0.00 
 2.20 
(2.14)
 13.66 
AME  0.86  0.09  0.07  0.16  0.92 
(0.98)
 1.26 
(1.52)
 11.73 
FLS  1.31  0.24  0.18  0.20  1.18 
(1.48)
 2.90 
(2.22)
 11.70 
DCI  0.80 (0.10) 0.00 (0.67) 0.00 
 0.00 
 1.54 
(1.66)
 8.98 
IEX  1.05 (0.02)(0.01) 0.02  1.18 
(1.37)
 2.22 
(1.71)
 11.98 
ITT  1.04 (0.06) 0.00 (0.01) 0.00 
 0.00 
 2.14 
(1.96)
 9.57 
IR  1.08 (0.09) 0.00 (0.28) 0.00 
 0.00 
 2.22 
(2.12)
 10.20 
CR  1.38  0.00  0.00  0.04  1.79 
(1.52)
 3.44 
(2.88)
 9.48 
PH  0.89  0.05  0.02  0.21  1.00 
(1.04)
 1.81 
(1.56)
 11.90 
PNR  0.76  0.09  0.06  0.29  0.89 
(0.86)
 1.44 
(1.47)
 6.74 

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