Gorman Rupp Correlations

GRC Stock

USD 49.23 0.12 0.24%

The current 90-days correlation between Gorman Rupp and China Yuchai International is 0.14 (i.e., Average diversification). The correlation of Gorman Rupp 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.

Gorman Rupp Correlation With Market

Weak diversification

The correlation between Gorman Rupp and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gorman Rupp and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Gorman Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Gorman Rupp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

For information on how to trade Gorman Stock refer to our How to Trade Gorman Stock guide.

Moving together with Gorman Stock

0.75	PL	Planet Labs PBC	Pair Corr
0.66	TE	T1 Energy Symbol Change	Pair Corr
0.65	601100	Jiangsu Hengli Hydraulic	Pair Corr

Moving against Gorman Stock

0.64	688420	Tianjin Meiteng Tech	Pair Corr
0.65	600666	Aurora Optoelectronics	Pair Corr
0.42	688190	Qingdao Yunlu Advanced	Pair Corr
0.4	001319	Winstech Precision Hldg	Pair Corr
0.39	300403	Jiangmen iDear Hanyu	Pair Corr
0.36	688557	BlueSword Intelligent	Pair Corr
0.31	301053	Yoantion Industrial	Pair Corr
0.55	301032	Zhejiang Xinchai	Pair Corr
0.5	002774	IFE Elevators	Pair Corr
0.4	WATR	Current Water Techno	Pair Corr

Related Correlations Analysis

	CYD	LNN	THR	TNC	BLDP	CCEC	ASTE	CRAI	GIC	HSII
CYD		0.42	-0.42	0.44	0.34	0.36	0.46	0.24	0.38	-0.42	CYD
LNN	0.42		-0.51	0.68	0.13	0.68	0.6	0.38	0.84	-0.87	LNN
THR	-0.42	-0.51		-0.67	-0.65	-0.53	-0.44	0.23	-0.69	0.76	THR
TNC	0.44	0.68	-0.67		0.48	0.8	0.91	0.33	0.85	-0.65	TNC
BLDP	0.34	0.13	-0.65	0.48		0.34	0.36	-0.43	0.26	-0.43	BLDP
CCEC	0.36	0.68	-0.53	0.8	0.34		0.75	0.36	0.82	-0.68	CCEC
ASTE	0.46	0.6	-0.44	0.91	0.36	0.75		0.5	0.72	-0.48	ASTE
CRAI	0.24	0.38	0.23	0.33	-0.43	0.36	0.5		0.31	-0.03	CRAI
GIC	0.38	0.84	-0.69	0.85	0.26	0.82	0.72	0.31		-0.81	GIC
HSII	-0.42	-0.87	0.76	-0.65	-0.43	-0.68	-0.48	-0.03	-0.81		HSII
	CYD	LNN	THR	TNC	BLDP	CCEC	ASTE	CRAI	GIC	HSII

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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

ASTE	+ 0.91	TNC
GIC	+ 0.85	TNC
GIC	+ 0.84	LNN
GIC	+ 0.82	CCEC
CCEC	+ 0.8	TNC
HSII	+ 0.76	THR

High negative correlations

HSII	- 0.87	LNN
HSII	- 0.81	GIC
GIC	- 0.69	THR
HSII	- 0.68	CCEC
TNC	- 0.67	THR
HSII	- 0.65	TNC

Risk-Adjusted Indicators

There is a big difference between Gorman Stock performing well and Gorman Rupp 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 Gorman Rupp'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
CYD	2.34	(0.22)	0.00	(0.05)	0.00	0.00	5.56	(4.99)	14.47
LNN	1.27	(0.27)	0.00	(0.28)	0.00	0.00	2.62	(3.18)	6.15
THR	1.91	0.41	0.22	0.36	1.77	(2.31)	3.70	(3.82)	15.73
TNC	1.06	(0.20)	0.00	(0.08)	0.00	0.00	2.25	(2.27)	6.85
BLDP	3.25	(0.32)	0.00	(0.03)	0.00	0.00	8.31	(6.14)	31.91
CCEC	1.83	(0.16)	0.00	(0.06)	0.00	0.00	3.94	(4.40)	14.44
ASTE	1.54	(0.16)	0.00	(0.03)	0.00	0.00	2.88	(3.20)	6.44
CRAI	1.38	(0.05)	(0.04)	0.00	1.81	(1.44)	2.60	(3.14)	8.17
GIC	1.16	(0.32)	0.00	(0.32)	0.00	0.00	1.78	(1.83)	19.88
HSII	0.80	0.31	0.21	(0.49)	0.30	(0.86)	0.90	(1.41)	19.72

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