Hillenbrand Correlations

HI Stock

USD 19.99 1.56 7.24%

The current 90-days correlation between Hillenbrand and IDEX Corporation is 0.52 (i.e., Very weak diversification). The correlation of Hillenbrand 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.

Hillenbrand Correlation With Market

Poor diversification

The correlation between Hillenbrand and DJI is 0.71 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hillenbrand 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 Hillenbrand. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

For more detail on how to invest in Hillenbrand Stock please use our How to Invest in Hillenbrand guide.

Moving together with Hillenbrand Stock

0.82	BW	Babcock Wilcox Enter	Pair Corr
0.68	CR	Crane Company	Pair Corr
0.9	IR	Ingersoll Rand	Pair Corr
0.86	PH	Parker Hannifin	Pair Corr
0.62	RR	Richtech Robotics Class	Pair Corr
0.72	AME	Ametek Inc	Pair Corr
0.88	CMI	Cummins	Pair Corr
0.92	CXT	Crane NXT	Pair Corr
0.68	DCI	Donaldson	Pair Corr
0.87	DOV	Dover	Pair Corr
0.95	EMR	Emerson Electric	Pair Corr
0.77	ETN	Eaton PLC	Pair Corr
0.96	FLS	Flowserve	Pair Corr
0.82	GHM	Graham	Pair Corr
0.62	GRC	Gorman Rupp	Pair Corr
0.86	IEX	IDEX	Pair Corr
0.94	ITT	ITT Inc	Pair Corr
0.7	KAI	Kadant Inc	Pair Corr
0.76	MIR	Mirion Technologies	Pair Corr
0.78	XMTR	Xometry	Pair Corr
0.92	PNR	Pentair PLC	Pair Corr
0.79	ROK	Rockwell Automation	Pair Corr
0.87	RRX	Regal Beloit	Pair Corr
0.85	SMR	Nuscale Power Corp	Pair Corr
0.83	SXI	Standex International	Pair Corr
0.92	SYM	Symbotic	Pair Corr
0.65	TNC	Tennant Company	Pair Corr

Moving against Hillenbrand Stock

0.37	MWA	Mueller Water Products	Pair Corr
0.42	SHMDW	SCHMID Group NV	Pair Corr
0.31	HUHU	HUHUTECH International	Pair Corr

Related Correlations Analysis

	IEX	WTS	DCI	GRC	EPAC	MIDD	NPO	KAI	ITT	FELE
IEX		-0.05	0.58	0.46	-0.1	0.01	0.23	0.5	0.83	0.13	IEX
WTS	-0.05		0.64	0.64	0.72	0.64	0.73	0.61	0.39	0.82	WTS
DCI	0.58	0.64		0.7	0.57	0.55	0.62	0.77	0.81	0.66	DCI
GRC	0.46	0.64	0.7		0.45	0.48	0.78	0.85	0.7	0.86	GRC
EPAC	-0.1	0.72	0.57	0.45		0.77	0.66	0.61	0.3	0.7	EPAC
MIDD	0.01	0.64	0.55	0.48	0.77		0.75	0.64	0.31	0.68	MIDD
NPO	0.23	0.73	0.62	0.78	0.66	0.75		0.79	0.63	0.88	NPO
KAI	0.5	0.61	0.77	0.85	0.61	0.64	0.79		0.74	0.82	KAI
ITT	0.83	0.39	0.81	0.7	0.3	0.31	0.63	0.74		0.52	ITT
FELE	0.13	0.82	0.66	0.86	0.7	0.68	0.88	0.82	0.52		FELE
	IEX	WTS	DCI	GRC	EPAC	MIDD	NPO	KAI	ITT	FELE

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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

FELE	+ 0.88	NPO
FELE	+ 0.86	GRC
KAI	+ 0.85	GRC
ITT	+ 0.83	IEX
FELE	+ 0.82	WTS
FELE	+ 0.82	KAI

High negative correlations

EPAC	- 0.1	IEX
WTS	- 0.05	IEX

Risk-Adjusted Indicators

There is a big difference between Hillenbrand Stock performing well and Hillenbrand 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 Hillenbrand'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	1.23	(0.22)	0.00	(0.40)	0.00	0.00	1.95	(2.98)	12.03
WTS	1.36	0.07	0.00	(0.10)	0.00	0.00	2.25	(2.81)	13.89
DCI	1.16	0.02	0.00	(0.14)	0.00	0.00	1.91	(2.40)	8.91
GRC	1.40	(0.05)	0.00	(0.21)	0.00	0.00	2.33	(3.65)	8.77
EPAC	1.66	0.17	0.00	(0.04)	0.00	0.00	2.88	(3.29)	16.25
MIDD	1.42	0.21	0.08	0.02	2.14	(1.46)	1.94	(2.78)	24.66
NPO	1.82	(0.03)	0.00	(0.18)	0.00	0.00	3.16	(4.24)	15.84
KAI	1.71	0.04	0.00	(0.13)	0.00	0.00	2.72	(3.62)	18.76
ITT	1.59	(0.08)	0.00	(0.21)	0.00	0.00	3.20	(3.99)	14.24
FELE	1.19	0.00	0.00	(0.16)	0.00	0.00	2.30	(2.50)	10.20

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