NVent Electric Correlations
| NVT Stock | USD 52.87 1.44 2.65% |
The correlation of NVent Electric is a statistical measure of how it moves in relation to other equities. 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 NVent Electric moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if NVent Electric PLC 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.
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in NVent Electric PLC. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in main economic indicators. NVent |
The ability to find closely correlated positions to NVent Electric could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace NVent Electric 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 NVent Electric - 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 NVent Electric PLC to buy it.
Moving together with NVent Stock
| + | 0.83 | BE | Bloom Energy Corp | Fiscal Quarter End 31st of December 2023 | PairCorr | |
| + | 0.63 | KE | Kimball Electronics | Fiscal Quarter End 31st of December 2023 | PairCorr | |
| + | 0.85 | ENVX | Enovix Corp | Fiscal Quarter End 31st of December 2023 | PairCorr | |
| + | 0.74 | EVRC | Evercel | PairCorr | ||
| + | 0.67 | FCEL | FuelCell Energy | Report 19th of December 2023 | PairCorr | |
| + | 0.71 | FLUX | Flux Power Holdings | Fiscal Quarter End 31st of December 2023 | PairCorr | |
| + | 0.72 | ENS | Enersys | Fiscal Quarter End 31st of December 2023 | PairCorr |
Related Correlations Analysis
BE | ELVA | ENVX | EOSE | EPOW | WIRE | FCEL | FLUX | AYI | EAF | ||
BE | 0.68 | 0.93 | 0.7 | 0.47 | -0.49 | 0.69 | 0.79 | -0.38 | 0.33 | BE | |
ELVA | 0.68 | 0.7 | 0.74 | 0.45 | -0.74 | 0.48 | 0.67 | -0.76 | 0.36 | ELVA | |
ENVX | 0.93 | 0.7 | 0.73 | 0.47 | -0.48 | 0.71 | 0.79 | -0.41 | 0.29 | ENVX | |
EOSE | 0.7 | 0.74 | 0.73 | 0.78 | -0.79 | 0.71 | 0.77 | -0.61 | 0.68 | EOSE | |
EPOW | 0.47 | 0.45 | 0.47 | 0.78 | -0.67 | 0.5 | 0.52 | -0.47 | 0.91 | EPOW | |
WIRE | -0.49 | -0.74 | -0.48 | -0.79 | -0.67 | -0.53 | -0.53 | 0.77 | -0.62 | WIRE | |
FCEL | 0.69 | 0.48 | 0.71 | 0.71 | 0.5 | -0.53 | 0.65 | -0.16 | 0.41 | FCEL | |
FLUX | 0.79 | 0.67 | 0.79 | 0.77 | 0.52 | -0.53 | 0.65 | -0.38 | 0.34 | FLUX | |
AYI | -0.38 | -0.76 | -0.41 | -0.61 | -0.47 | 0.77 | -0.16 | -0.38 | -0.48 | AYI | |
EAF | 0.33 | 0.36 | 0.29 | 0.68 | 0.91 | -0.62 | 0.41 | 0.34 | -0.48 | EAF | |
BE | ELVA | ENVX | EOSE | EPOW | WIRE | FCEL | FLUX | AYI | EAF |
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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 |
Risk-Adjusted Indicators
There is a big difference between NVent Stock performing well and NVent Electric 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 NVent Electric'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 | Information Ratio | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| BE | 3.01 | (0.13) | 0.00 | (0.02) | 0.00 | (0.0212) | 0.00 | 8.37 | (5.62) | 18.57 | |
| ELVA | 3.21 | (0.45) | 0.00 | (0.30) | 0.00 | (0.10) | 0.00 | 5.38 | (7.60) | 24.80 | |
| ENVX | 3.24 | (0.24) | 0.00 | (0.05) | 0.00 | (0.0422) | 0.00 | 6.01 | (8.80) | 23.60 | |
| EOSE | 5.10 | (1.39) | 0.00 | (0.41) | 0.00 | (0.19) | 0.00 | 8.82 | (11.69) | 43.60 | |
| EPOW | 3.92 | (0.72) | 0.00 | (1.14) | 0.00 | (0.13) | 0.00 | 5.29 | (9.40) | 42.27 | |
| WIRE | 1.56 | 0.28 | 0.16 | 0.19 | 1.63 | 0.14 | (1.73) | 3.43 | (2.30) | 10.73 | |
| FCEL | 3.95 | (0.16) | 0.00 | 0.43 | 0.00 | (0.0347) | 0.00 | 10.53 | (7.21) | 22.93 | |
| FLUX | 3.33 | (0.25) | 0.00 | (2.76) | 0.00 | (0.06) | 0.00 | 8.04 | (5.23) | 31.11 | |
| AYI | 1.13 | 0.17 | 0.10 | 0.58 | 1.32 | 0.09 | (1.24) | 3.70 | (1.84) | 13.11 | |
| EAF | 2.46 | (0.49) | 0.00 | 1.23 | 0.00 | (0.14) | 0.00 | 4.17 | (7.96) | 24.10 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in NVent Electric 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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NVent Electric Corporate Directors
NVent Electric corporate directors refer to members of a NVent Electric board of directors. The board of directors generally takes responsibility for the NVent Electric's affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of NVent Electric's board members must vote for the resolution. The NVent Electric board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.| Jerry Burris | Independent Director | Profile | |
| Herbert Parker | Independent Director | Profile | |
| William Monahan | Lead Independent Director | Profile | |
| Greg Scheu | Independent Director | Profile |
Already Invested in NVent Electric PLC?
The danger of trading NVent Electric PLC 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 NVent Electric 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 NVent Electric. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile NVent Electric PLC 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 NVent Electric PLC is a good investment, qualitative aspects like company management, corporate governance, and ethical practices play a significant role. A comparison with peer companies also provides context and helps to understand if NVent Stock is undervalued or overvalued. This multi-faceted approach, blending both quantitative and qualitative analysis, forms a solid foundation for making an informed investment decision about Nvent Electric Plc Stock. Highlighted below are key reports to facilitate an investment decision about Nvent Electric Plc Stock: Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in NVent Electric PLC. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in main economic indicators. You can also try the Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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When running NVent Electric's price analysis, check to measure NVent Electric'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 NVent Electric is operating at the current time. Most of NVent Electric's value examination focuses on studying past and present price action to predict the probability of NVent Electric's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move NVent Electric's price. Additionally, you may evaluate how the addition of NVent Electric to your portfolios can decrease your overall portfolio volatility.
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Is NVent Electric'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 NVent Electric. If investors know NVent 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 NVent Electric 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 0.145 | Dividend Share 0.7 | Earnings Share 2.81 | Revenue Per Share 18.974 | Quarterly Revenue Growth 0.152 |
The market value of NVent Electric PLC is measured differently than its book value, which is the value of NVent that is recorded on the company's balance sheet. Investors also form their own opinion of NVent Electric's value that differs from its market value or its book value, called intrinsic value, which is NVent Electric'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 NVent Electric's market value can be influenced by many factors that don't directly affect NVent Electric'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 NVent Electric's value and its price as these two are different measures arrived at by different means. Investors typically determine if NVent Electric is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, NVent Electric'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.