Parker Hannifin Correlations

PH Stock  USD 665.99  7.75  1.15%   
The current 90-days correlation between Parker Hannifin and China Yuchai International is -0.1 (i.e., Good diversification). The correlation of Parker Hannifin 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.

Parker Hannifin Correlation With Market

Poor diversification

The correlation between Parker Hannifin 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 Parker Hannifin and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Parker Hannifin. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in rate.
For more detail on how to invest in Parker Stock please use our How to Invest in Parker Hannifin guide.

Moving together with Parker Stock

  0.61B Barnes GroupPairCorr
  0.95CR Crane CompanyPairCorr
  0.88HI HillenbrandPairCorr
  0.83IR Ingersoll RandPairCorr
  0.8ENOV Enovis CorpPairCorr
  0.92EPAC Enerpac Tool Group Earnings Call TodayPairCorr
  0.8FELE Franklin ElectricPairCorr
  0.96AME Ametek IncPairCorr
  0.93CMI CumminsPairCorr
  0.68DCI DonaldsonPairCorr
  0.95DOV DoverPairCorr
  0.97EMR Emerson ElectricPairCorr
  0.94ETN Eaton PLCPairCorr
  0.94FLS FlowservePairCorr
  0.87GGG Graco IncPairCorr
  0.89GHM GrahamPairCorr
  0.94GRC Gorman RuppPairCorr
  0.95IEX IDEXPairCorr
  0.85ITT ITT IncPairCorr
  0.95ITW Illinois Tool WorksPairCorr
  0.82JBT John Bean TechnologiesPairCorr
  0.95KAI Kadant IncPairCorr
  0.8MIR Mirion TechnologiesPairCorr
  0.96MWA Mueller Water ProductsPairCorr
  0.91XMTR XometryPairCorr
  0.79NNE Nano Nuclear EnergyPairCorr
  0.75NPO Enpro IndustriesPairCorr
  0.91PNR Pentair PLCPairCorr
  0.85ROK Rockwell AutomationPairCorr
  0.88SMR Nuscale Power Corp Sell-off TrendPairCorr

Moving against Parker Stock

  0.91CYD China Yuchai InternaPairCorr
  0.71AOS Smith AOPairCorr
  0.56MKDWW MKDWELL Tech WarrantsPairCorr
  0.41RR Richtech Robotics Class Buyout TrendPairCorr
  0.56TNC Tennant CompanyPairCorr

Related Correlations Analysis

Please specify at least 3 valid symbols having historical data to build a meaningful correlation cloud. You can use symbol search above to locate your securities.