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.
Parker |
Moving together with Parker Stock
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0.94 | ETN | Eaton PLC | PairCorr |
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0.89 | GHM | Graham | PairCorr |
0.94 | GRC | Gorman Rupp | PairCorr |
0.95 | IEX | IDEX | PairCorr |
0.85 | ITT | ITT Inc | PairCorr |
0.95 | ITW | Illinois Tool Works | PairCorr |
0.82 | JBT | John Bean Technologies | PairCorr |
0.95 | KAI | Kadant Inc | PairCorr |
0.8 | MIR | Mirion Technologies | PairCorr |
0.96 | MWA | Mueller Water Products | PairCorr |
0.91 | XMTR | Xometry | PairCorr |
0.79 | NNE | Nano Nuclear Energy | PairCorr |
0.75 | NPO | Enpro Industries | PairCorr |
0.91 | PNR | Pentair PLC | PairCorr |
0.85 | ROK | Rockwell Automation | PairCorr |
0.88 | SMR | Nuscale Power Corp Sell-off Trend | PairCorr |
Moving against Parker Stock
0.91 | CYD | China Yuchai Interna | PairCorr |
0.71 | AOS | Smith AO | PairCorr |
0.56 | MKDWW | MKDWELL Tech Warrants | PairCorr |
0.41 | RR | Richtech Robotics Class Buyout Trend | PairCorr |
0.56 | TNC | Tennant Company | PairCorr |
Related Correlations Analysis
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