ESCO Technologies Correlations

ESE Stock

USD 190.33 2.37 1.26%

The current 90-days correlation between ESCO Technologies and Novanta is 0.05 (i.e., Significant diversification). The correlation of ESCO 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.

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Moving together with ESCO Stock

0.88	ST	Sensata Technologies	Pair Corr
0.93	FARO	FARO Technologies	Pair Corr
0.93	BMI	Badger Meter	Pair Corr
0.72	TDY	Teledyne Technologies	Pair Corr
0.96	VNT	Vontier Corp	Pair Corr
0.88	VPG	Vishay Precision	Pair Corr
0.88	ITRI	Itron Inc	Pair Corr
0.78	ITRN	Ituran Location	Pair Corr
0.93	KEYS	Keysight Technologies	Pair Corr
0.61	MIND	Mind Technology Trending	Pair Corr
0.92	TRMB	Trimble	Pair Corr
0.81	CGNX	Cognex	Pair Corr
0.93	COHR	Coherent Buyout Trend	Pair Corr
0.93	J	Jacobs Solutions	Pair Corr
0.87	R	Ryder System Earnings Call This Week	Pair Corr
0.96	AL	Air Lease	Pair Corr
0.87	AP	Ampco Pittsburgh	Pair Corr
0.87	AZ	A2Z Smart Technologies Downward Rally	Pair Corr
0.92	BA	Boeing	Pair Corr
0.64	BR	Broadridge Financial	Pair Corr

Moving against ESCO Stock

0.74	GNSS	Genasys	Pair Corr
0.58	ODYS	Odysightai Common Stock	Pair Corr
0.55	SOBR	Sobr Safe	Pair Corr
0.49	ASTC	Astrotech Corp	Pair Corr
0.74	G	Genpact Limited	Pair Corr
0.72	SVRE	SaverOne 2014	Pair Corr

Related Correlations Analysis

	NOVT	SOTK	ITRI	BMI	COHR	MLAB	VPG	ST	FTV	VNT
NOVT		0.18	0.51	0.42	0.72	0.26	0.55	0.82	0.85	0.71	NOVT
SOTK	0.18		0.3	0.53	0.35	0.19	0.28	0.13	0.01	0.25	SOTK
ITRI	0.51	0.3		0.85	0.87	-0.56	0.73	0.83	0.41	0.79	ITRI
BMI	0.42	0.53	0.85		0.87	-0.45	0.82	0.71	0.37	0.85	BMI
COHR	0.72	0.35	0.87	0.87		-0.29	0.81	0.92	0.6	0.92	COHR
MLAB	0.26	0.19	-0.56	-0.45	-0.29		-0.35	-0.25	0.11	-0.27	MLAB
VPG	0.55	0.28	0.73	0.82	0.81	-0.35		0.75	0.67	0.89	VPG
ST	0.82	0.13	0.83	0.71	0.92	-0.25	0.75		0.74	0.91	ST
FTV	0.85	0.01	0.41	0.37	0.6	0.11	0.67	0.74		0.73	FTV
VNT	0.71	0.25	0.79	0.85	0.92	-0.27	0.89	0.91	0.73		VNT
	NOVT	SOTK	ITRI	BMI	COHR	MLAB	VPG	ST	FTV	VNT

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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

ST	+ 0.92	COHR
VNT	+ 0.92	COHR
VNT	+ 0.91	ST
VNT	+ 0.89	VPG
COHR	+ 0.87	ITRI
COHR	+ 0.87	BMI

High negative correlations

MLAB	- 0.56	ITRI
MLAB	- 0.45	BMI
VPG	- 0.35	MLAB
MLAB	- 0.29	COHR
VNT	- 0.27	MLAB
ST	- 0.25	MLAB

Risk-Adjusted Indicators

There is a big difference between ESCO Stock performing well and ESCO 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 ESCO 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
NOVT	2.05	(0.12)	0.00	(0.03)	0.00	0.00	3.13	(4.16)	20.60
SOTK	1.53	0.03	0.00	0.49	1.95	(1.67)	3.90	(3.38)	9.57
ITRI	1.46	0.30	0.14	0.33	1.88	(1.57)	3.55	(2.48)	11.05
BMI	1.55	0.37	0.16	(1.96)	1.71	(1.77)	4.36	(2.37)	12.02
COHR	3.43	0.38	0.09	0.19	4.55	(3.87)	7.64	(5.73)	34.73
MLAB	2.34	(0.38)	0.00	(0.24)	0.00	0.00	4.21	(5.39)	20.06
VPG	3.69	0.41	0.07	(1.03)	4.98	(3.96)	9.10	(5.93)	44.34
ST	2.84	0.12	0.04	0.10	4.35	(2.89)	7.59	(6.43)	24.94
FTV	1.54	(0.06)	0.00	0.76	0.00	0.00	2.78	(4.18)	14.15
VNT	1.59	0.15	0.04	(7.85)	2.24	(1.69)	3.29	(2.70)	16.12

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ESCO Technologies Correlations

Moving together with ESCO Stock

Moving against ESCO Stock

Related Correlations Analysis

Correlation Matchups

Risk-Adjusted Indicators

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