Because　the　evaluation　of　wire　vertical　characteristic　through　manual　welding　operation　methods　was　poor　accuracy,　only　was　qualitative,　not　quantitative　and　further　limited　to　enhance　the　level　of　flux　cored　wire,　Hannover　Arc　analyzer　was　used　to　quantitatively　analyze　the　arc　physical　characteristics　and　the　performance　parameters　of　vertical　welding　with　four　kinds　of　stainless　steel　flux-cored　wire.　Through　analyzing　the　relation　of　the　probability　density　distribution　of　arc　voltage,　current,　short　circuit　time,　their　standard　deviation　and　metal　transition,　the　experimental　results　showed　that　the　standard　deviation　of　current,　voltage　and　short　circuit　time　were　smaller,　the　effective　transition　ratio　of　the　larger　short-circuit　was　bigger,　the　uniformity　and　stability　of　wire　droplet　transition　became　better,　splash　became　smaller,　the　characteristics　of　vertical　welding　became　better,　so　the　optimizing　design　of　all-position　flux　cored　wire　formulation　had　great　practical　significance.