Trane Technologies Correlations

TT Stock

USD 436.98 0.62 0.14%

The current 90-days correlation between Trane Technologies plc and Johnson Controls International is 0.72 (i.e., Poor diversification). The correlation of Trane Technologies 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.

Trane Technologies Correlation With Market

Very weak diversification

The correlation between Trane Technologies plc and DJI is 0.59 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Trane Technologies plc and DJI in the same portfolio, assuming nothing else is changed.

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Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Trane Technologies plc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with Trane Stock

0.67	NX	Quanex Building Products	Pair Corr
0.79	APT	Alpha Pro Tech	Pair Corr
0.93	AWI	Armstrong World Indu	Pair Corr
0.64	CSL	Carlisle Companies Earnings Call This Week	Pair Corr
0.92	JBI	Janus International	Pair Corr
0.96	JCI	Johnson Controls Int	Pair Corr
0.69	LPX	Louisiana Pacific	Pair Corr
0.61	MAS	Masco Earnings Call This Week	Pair Corr
0.71	WMS	Advanced Drainage Systems	Pair Corr
0.9	ROCK	Gibraltar Industries	Pair Corr
0.85	ARLO	Arlo Technologies	Pair Corr
0.71	ASPN	Aspen Aerogels	Pair Corr
0.68	AZEK	Azek Company	Pair Corr
0.77	SWIM	Latham Group	Pair Corr
0.84	TILE	Interface	Pair Corr
0.95	CARR	Carrier Global Corp	Pair Corr
0.86	J	Jacobs Solutions	Pair Corr
0.74	R	Ryder System Earnings Call Next Week	Pair Corr
0.97	AL	Air Lease	Pair Corr
0.85	AP	Ampco Pittsburgh	Pair Corr
0.78	AZ	A2Z Smart Technologies	Pair Corr
0.92	BA	Boeing Sell-off Trend	Pair Corr

Moving against Trane Stock

0.9	STAI	ScanTech AI Systems	Pair Corr
0.77	JELD	Jeld Wen Holding	Pair Corr
0.58	AIRJ	Montana Technologies	Pair Corr
0.54	APOG	Apogee Enterprises	Pair Corr
0.37	AIRJW	Montana Technologies	Pair Corr
0.31	AEHL	Antelope Enterprise	Pair Corr
0.95	CSTE	Caesarstone	Pair Corr

Related Correlations Analysis

	FBIN	JCI	LII	BLDR	CARR	MAS	NX	JELD	AZEK	CSL
FBIN		0.03	0.5	0.68	0.15	0.39	0.39	0.39	-0.09	0.56	FBIN
JCI	0.03		0.52	0.09	0.9	0.61	0.76	-0.75	0.76	0.54	JCI
LII	0.5	0.52		0.51	0.7	0.75	0.62	-0.25	0.52	0.78	LII
BLDR	0.68	0.09	0.51		0.07	0.44	0.54	0.4	0.23	0.36	BLDR
CARR	0.15	0.9	0.7	0.07		0.75	0.69	-0.71	0.63	0.71	CARR
MAS	0.39	0.61	0.75	0.44	0.75		0.67	-0.38	0.45	0.62	MAS
NX	0.39	0.76	0.62	0.54	0.69	0.67		-0.33	0.59	0.46	NX
JELD	0.39	-0.75	-0.25	0.4	-0.71	-0.38	-0.33		-0.59	-0.25	JELD
AZEK	-0.09	0.76	0.52	0.23	0.63	0.45	0.59	-0.59		0.28	AZEK
CSL	0.56	0.54	0.78	0.36	0.71	0.62	0.46	-0.25	0.28		CSL
	FBIN	JCI	LII	BLDR	CARR	MAS	NX	JELD	AZEK	CSL

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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

CARR	+ 0.9	JCI
CSL	+ 0.78	LII
NX	+ 0.76	JCI
AZEK	+ 0.76	JCI
MAS	+ 0.75	LII
MAS	+ 0.75	CARR

High negative correlations

JELD	- 0.75	JCI
JELD	- 0.71	CARR
AZEK	- 0.59	JELD
JELD	- 0.38	MAS
JELD	- 0.33	NX
CSL	- 0.25	JELD

Risk-Adjusted Indicators

There is a big difference between Trane Stock performing well and Trane Technologies 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 Trane Technologies' 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
FBIN	2.00	(0.21)	(0.04)	0.00	2.70	(2.01)	3.73	(3.20)	17.31
JCI	1.00	0.33	0.27	0.43	0.75	(1.20)	2.90	(1.58)	5.56
LII	1.37	0.01	0.00	0.12	2.33	(1.30)	3.01	(2.24)	12.29
BLDR	2.36	(0.13)	(0.03)	0.03	2.64	(2.57)	4.93	(4.21)	12.01
CARR	1.43	0.54	0.26	(1.69)	1.06	(1.69)	2.91	(2.12)	15.43
MAS	1.62	0.28	0.04	(0.31)	1.70	(1.78)	3.27	(3.05)	15.75
NX	2.64	(0.18)	(0.01)	0.04	2.62	(3.32)	6.46	(4.42)	14.09
JELD	3.26	(0.45)	0.00	(0.12)	0.00	0.00	7.46	(5.76)	29.71
AZEK	1.43	0.16	0.04	1.52	1.41	(1.81)	2.63	(2.43)	11.69
CSL	1.31	0.10	0.08	0.20	1.29	(1.58)	3.13	(2.71)	9.55

Trane Technologies Corporate Management

Heather Howlett	Chief Accounting Officer, Vice President	Profile
Richard Swift	Lead Independent Director	Profile
Zachary Nagle	Vice Relations	Profile
Mark Majocha	Chief VP	Profile
Donald Simmons	Group Americas	Profile
Mauro Atalla	Chief Officer	Profile

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