Smith AO Correlations

AOS Stock

USD 74.10 0.20 0.27%

The current 90-days correlation between Smith AO and Dover is 0.32 (i.e., Weak diversification). The correlation of Smith AO 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.

Smith AO Correlation With Market

Weak diversification

The correlation between Smith AO and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Smith AO and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Smith AO. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

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

Moving against Smith Stock

0.63	AME	Ametek Inc	Pair Corr
0.62	EPAC	Enerpac Tool Group	Pair Corr
0.59	GHM	Graham	Pair Corr
0.54	HI	Hillenbrand	Pair Corr
0.54	EMR	Emerson Electric	Pair Corr
0.51	CR	Crane Company	Pair Corr
0.5	CMI	Cummins	Pair Corr
0.49	PH	Parker Hannifin	Pair Corr
0.48	FLS	Flowserve	Pair Corr
0.46	B	Barnes Group	Pair Corr
0.46	DCI	Donaldson	Pair Corr
0.44	IEX	IDEX	Pair Corr
0.43	DOV	Dover	Pair Corr
0.43	ETN	Eaton PLC	Pair Corr
0.38	GRC	Gorman Rupp	Pair Corr
0.72	XMTR	Xometry	Pair Corr
0.7	SMR	Nuscale Power Corp Buyout Trend	Pair Corr
0.69	GTES	Gates Industrial	Pair Corr
0.67	MIR	Mirion Technologies	Pair Corr
0.64	JBT	John Bean Technologies	Pair Corr
0.6	GTLS	Chart Industries	Pair Corr
0.57	SYM	Symbotic	Pair Corr
0.56	KAI	Kadant Inc	Pair Corr
0.52	MWA	Mueller Water Products Fiscal Year End 11th of December 2024	Pair Corr
0.52	GNRC	Generac Holdings	Pair Corr
0.51	SXI	Standex International	Pair Corr
0.49	NNE	Nano Nuclear Energy	Pair Corr
0.48	ROK	Rockwell Automation	Pair Corr
0.47	PNR	Pentair PLC	Pair Corr
0.43	XCH	XCHG Limited American	Pair Corr

Related Correlations Analysis

	DOV	ITW	XYL	FELE	PNR	PH	EMR	ETN	CMI	GGG
DOV		0.95	-0.44	0.78	0.94	0.96	0.91	0.93	0.9	0.89	DOV
ITW	0.95		-0.5	0.77	0.94	0.96	0.92	0.92	0.93	0.87	ITW
XYL	-0.44	-0.5		-0.06	-0.51	-0.56	-0.59	-0.41	-0.52	-0.27	XYL
FELE	0.78	0.77	-0.06		0.68	0.8	0.79	0.76	0.77	0.87	FELE
PNR	0.94	0.94	-0.51	0.68		0.94	0.89	0.98	0.94	0.81	PNR
PH	0.96	0.96	-0.56	0.8	0.94		0.97	0.94	0.96	0.89	PH
EMR	0.91	0.92	-0.59	0.79	0.89	0.97		0.89	0.96	0.87	EMR
ETN	0.93	0.92	-0.41	0.76	0.98	0.94	0.89		0.94	0.81	ETN
CMI	0.9	0.93	-0.52	0.77	0.94	0.96	0.96	0.94		0.84	CMI
GGG	0.89	0.87	-0.27	0.87	0.81	0.89	0.87	0.81	0.84		GGG
	DOV	ITW	XYL	FELE	PNR	PH	EMR	ETN	CMI	GGG

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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

ETN	+ 0.98	PNR
EMR	+ 0.97	PH
PH	+ 0.96	DOV
PH	+ 0.96	ITW
CMI	+ 0.96	PH
CMI	+ 0.96	EMR

High negative correlations

EMR	- 0.59	XYL
PH	- 0.56	XYL
CMI	- 0.52	XYL
PNR	- 0.51	XYL
XYL	- 0.5	ITW
XYL	- 0.44	DOV

Risk-Adjusted Indicators

There is a big difference between Smith Stock performing well and Smith AO 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 Smith AO'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
DOV	1.08	0.02	0.05	0.14	1.01	(1.33)	2.20	(1.90)	6.51
ITW	0.79	0.06	0.06	0.18	0.62	(0.98)	1.53	(1.33)	4.73
XYL	0.98	(0.25)	0.00	(0.13)	0.00	0.00	2.00	(1.91)	9.07
FELE	1.20	(0.12)	(0.02)	0.05	1.55	(1.33)	2.27	(2.14)	11.41
PNR	0.86	0.26	0.26	0.48	0.46	(1.07)	1.95	(1.08)	5.19
PH	0.91	0.10	0.14	0.19	0.82	(1.10)	2.18	(1.25)	11.35
EMR	1.15	0.17	0.19	0.23	0.84	(1.35)	2.15	(1.83)	9.12
ETN	1.19	0.17	0.16	0.22	1.16	(1.37)	2.91	(2.11)	8.54
CMI	1.08	0.18	0.20	0.29	0.72	(1.42)	2.82	(1.68)	9.79
GGG	0.91	0.01	0.03	0.13	0.88	(1.00)	1.69	(1.77)	7.51

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