Carrier GlobalCorp Correlations
| CARR Stock | USD 53.53 0.15 0.28% |
The correlation of Carrier GlobalCorp 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Carrier GlobalCorp moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Carrier GlobalCorp moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Poor diversification
The correlation between Carrier GlobalCorp and NYA is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Carrier GlobalCorp and NYA in the same portfolio, assuming nothing else is changed.
Carrier |
The ability to find closely correlated positions to Carrier GlobalCorp could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Carrier GlobalCorp when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Carrier GlobalCorp - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Carrier GlobalCorp to buy it.
Moving together with Carrier Stock
| 0.64 | LII | Lennox International Earnings Call This Week | PairCorr |
| 0.67 | LPX | Louisiana Pacific Financial Report 1st of May 2024 | PairCorr |
Moving against Carrier Stock
Related Correlations Analysis
| -0.24 | -0.08 | 0.43 | 0.26 | TVPKF | ||
| -0.24 | -0.36 | -0.78 | -0.6 | TPRKY | ||
| -0.08 | -0.36 | 0.37 | 0.44 | JBI | ||
| 0.43 | -0.78 | 0.37 | 0.71 | TILE | ||
| 0.26 | -0.6 | 0.44 | 0.71 | ASPN | ||
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Carrier Stock performing well and Carrier GlobalCorp 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 Carrier GlobalCorp'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| TVPKF | 0.02 | 0.00 | 0.00 | (0.10) | 0.00 | 0.00 | 0.78 | |||
| TPRKY | 1.26 | (0.16) | 0.00 | (0.36) | 0.00 | 2.89 | 10.39 | |||
| JBI | 1.47 | 0.00 | 0.01 | 0.06 | 2.01 | 2.85 | 9.41 | |||
| TILE | 1.94 | 0.26 | 0.15 | 0.17 | 1.90 | 5.01 | 18.90 | |||
| ASPN | 2.61 | 0.23 | 0.08 | 0.16 | 3.45 | 6.85 | 34.57 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Carrier GlobalCorp without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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Risk-Return AnalysisView associations between returns expected from investment and the risk you assume |
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Carrier GlobalCorp Corporate Management
Elected by the shareholders, the Carrier GlobalCorp's board of directors comprises two types of representatives: Carrier GlobalCorp inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Carrier. The board's role is to monitor Carrier GlobalCorp's management team and ensure that shareholders' interests are well served. Carrier GlobalCorp's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Carrier GlobalCorp's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Timothy White | President - Refrigeration | Profile | |
| Michael Todman | Independent Director | Profile | |
| Virginia Wilson | Independent Director | Profile | |
| Milena Oliveira | Senior Officer | Profile | |
| JeanPierre Garnier | Lead Independent Director | Profile |
Already Invested in Carrier GlobalCorp?
The danger of trading Carrier GlobalCorp is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Carrier GlobalCorp is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Carrier GlobalCorp. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Carrier GlobalCorp is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether Carrier GlobalCorp is a strong investment it is important to analyze Carrier GlobalCorp's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Carrier GlobalCorp's future performance. For an informed investment choice regarding Carrier Stock, refer to the following important reports: Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Carrier GlobalCorp. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in metropolitan statistical area. To learn how to invest in Carrier Stock, please use our How to Invest in Carrier GlobalCorp guide.You can also try the Portfolio Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.
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When running Carrier GlobalCorp's price analysis, check to measure Carrier GlobalCorp's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Carrier GlobalCorp is operating at the current time. Most of Carrier GlobalCorp's value examination focuses on studying past and present price action to predict the probability of Carrier GlobalCorp's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Carrier GlobalCorp's price. Additionally, you may evaluate how the addition of Carrier GlobalCorp to your portfolios can decrease your overall portfolio volatility.
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Is Carrier GlobalCorp's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Carrier GlobalCorp. If investors know Carrier will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Carrier GlobalCorp listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth 0.582 | Dividend Share 0.745 | Earnings Share 1.58 | Revenue Per Share 26.392 | Quarterly Revenue Growth (0) |
The market value of Carrier GlobalCorp is measured differently than its book value, which is the value of Carrier that is recorded on the company's balance sheet. Investors also form their own opinion of Carrier GlobalCorp's value that differs from its market value or its book value, called intrinsic value, which is Carrier GlobalCorp's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Carrier GlobalCorp's market value can be influenced by many factors that don't directly affect Carrier GlobalCorp's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Carrier GlobalCorp's value and its price as these two are different measures arrived at by different means. Investors typically determine if Carrier GlobalCorp is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Carrier GlobalCorp's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.