Garrett Motion Correlations

GTX Stock

USD 10.31 0.15 1.43%

The current 90-days correlation between Garrett Motion and Resideo Technologies is 0.49 (i.e., Very weak diversification). The correlation of Garrett Motion 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.

Garrett Motion Correlation With Market

Very weak diversification

The correlation between Garrett Motion and DJI is 0.53 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Garrett Motion and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Garrett Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Garrett Motion. 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.

For more information on how to buy Garrett Stock please use our How to Invest in Garrett Motion guide.

Moving together with Garrett Stock

0.81	F	Ford Motor Aggressive Push	Pair Corr
0.76	GT	Goodyear Tire Rubber	Pair Corr
0.68	VC	Visteon Corp	Pair Corr
0.74	ALV	Autoliv	Pair Corr
0.79	BWA	BorgWarner	Pair Corr
0.89	CPS	Cooper Stnd	Pair Corr
0.74	DAN	Dana Inc	Pair Corr
0.65	HMC	Honda Motor Sell-off Trend	Pair Corr
0.75	LOT	Lotus Technology American	Pair Corr
0.85	MOD	Modine Manufacturing	Pair Corr
0.76	XPEL	Xpel Inc	Pair Corr
0.74	SES	SES AI Corp	Pair Corr
0.82	SMP	Standard Motor Products	Pair Corr

Moving against Garrett Stock

0.72	ECDA	ECD Automotive Design	Pair Corr
0.66	VLCN	Volcon Inc	Pair Corr
0.57	WKHS	Workhorse Group	Pair Corr
0.36	FRSX	Foresight Autonomous	Pair Corr
0.33	EVTV	Envirotech Vehicles	Pair Corr
0.64	MAMO	Massimo Group Common	Pair Corr
0.62	HLLY	Holley Inc	Pair Corr
0.57	SUP	Superior Industries	Pair Corr
0.5	GGROW	Gogoro Equity Warrant	Pair Corr
0.46	WRD	WeRide American Depo	Pair Corr
0.46	KNDI	Kandi Technologies	Pair Corr
0.43	LAZR	Luminar Technologies	Pair Corr

Related Correlations Analysis

	REZI	ASIX	EAF	INVA	PRDO
REZI		0.88	0.71	0.64	0.85	REZI
ASIX	0.88		0.82	0.5	0.65	ASIX
EAF	0.71	0.82		0.46	0.43	EAF
INVA	0.64	0.5	0.46		0.77	INVA
PRDO	0.85	0.65	0.43	0.77		PRDO
	REZI	ASIX	EAF	INVA	PRDO

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Risk-Adjusted Indicators

There is a big difference between Garrett Stock performing well and Garrett Motion 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 Garrett Motion'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
REZI	2.15	0.25	0.08	0.22	2.90	(2.32)	5.36	(3.83)	15.90
ASIX	1.81	0.01	0.01	0.04	2.33	(1.94)	4.72	(2.93)	17.55
EAF	5.92	0.29	0.05	0.15	6.56	(6.90)	13.04	(11.36)	34.70
INVA	0.84	0.32	0.30	1.97	0.51	(0.97)	2.46	(1.43)	4.63
PRDO	1.67	0.43	0.29	0.61	1.00	(2.08)	3.72	(2.33)	24.71

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