Data updated 2024-Mar-15 (Friday). Similar reports analyzed 35,842 times in last 24 hours by visitors
Compare Rolling Correlations between [PH] Parker-Hannifin Corp. with [RYT] Invesco S&P 500 Equal Weight Technology ETF . Charts below show evolution of the 100-day Pearson correlations over time using daily returns along with the cumulative performances for each as of market close on 2024-Mar-15 (Friday) . Also check out correlations for your Portfolio using Correlation Matrix or all other stocks/efts/crypto with Parker-Hannifin Corp. or
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Correlation calculated over time using a rolling 100-day time window of daily returns starting from 2022-Aug-05 for Parker-Hannifin Corp. & Invesco S&P 500 Equal Weight Technology ETF. Use widget below chart to change to other rolling time period windows
Performance from 2022-Aug-05 for Parker-Hannifin Corp. & Invesco S&P 500 Equal Weight Technology ETF:
Related to Parker-Hannifin Corp.
Information for Parker-Hannifin Corp.
Current Detail : Recent daily/monthly performance & benchmark comparison
Historical Detail : Historical performance & related information using Time Machine
Financial Statements : Analyze Income Statement, Balance Sheet & Cashflow Statement and also compare with peers
Bayesian Statement Classifier : Investigate historical financial statements to make probabalistic predictions using Artificial Intelligence
Anomaly Detection : Investigate unusual recent performance & technicals with historical context using AI
Historical Seasonality : Seasonal performance by calendar months
Dividend History : History of Dividend Yield
Technical History : Popular Technical indicator trends (RSI, MACD etc.)
Metric Deciles : Contextualizing recent performance & technical levels into historical decile buckets
Dollar Cost Averaging : Dollar Cost Average (DCA) over time in your portfolio
Moving Averages : Key Simple & Exponential Moving Averages
Historical Analogues : Insights from closest historical matches to recent performance using Artificial Intelligence
Chart Pattern Matching : Insights from similar historical charts to recent chart using Artificial Intelligence
News Stories : News stories on 2024-Mar-15 on Google
SEC Reports : Quarterly reports around 2024-Mar-15 on SEC Edgar
Compare Parker-Hannifin Corp. with other assets
Market Performance : Recent performance across covered assets
Historical Performance : Prior & Subsequent performance across assets on a historical date
Market Technicals : Technical indicator levels across covered assets
Market Seasonality : Seasonal performance by calendar months across covered assets
Pair Correlations : Performance Correlations with other assets Currently Viewing
Beta : Volatility relative to the broad market
Performance Comparison : Visually compare/benchmark performance with other assets over time
Side-by-Side Comparison : Contrast with other assets over time in a side-by-side presentation
Sector : Industrials sector performance which includes Parker-Hannifin Corp.
Industry : Tools & Machinery industry performance which includes Parker-Hannifin Corp.
Analyze Parker-Hannifin Corp. in multiple dimensions using above resources. Other comparable assets include other stocks/etfs/crypto etc.
Guide
- Correlation is calculated between the daily returns
- Different Time periods are available for selecting the correlation timespan. This time-window is then moved forward starting from
- Here a 100 rolling correlation calculates the Pearson Correlation coefficient using 100 days of daily returns
- Median Rolling Correlations annotated to provide a reference point
- Cumulative Returns can be seen in the lower comparison chart between the two assets for the same time frame
- Compare returns over different timespans using bottom chart functionality
- This can be useful to identify dislocations that otherwise trade somewhat synchronously (depending on the correlation coefficient)
- A correlation of 1 means that the two assets have daily returns that generally move together
- A correlation of 0 means that the two assets have daily returns that are generally uncorrelated/independent
- A correlation of -1 means that the two assets have daily returns that are generally opposite to each other
- Correlations over short-term time periods will always more volatile
- This can be used to identify mean reversion trades (i.e. taking the position that the correlation will revert from the current dislocation to the longer term median
- Validating consistently uncorrelated assets over time is also valuable information for risk management purposes when constructing portfolios
Users typically use data on this page in the above ways. This is not an exhaustive list. For Informational purposes only. Aiolux does NOT provide Investment Advice
