Api Group Correlations

APG Stock

USD 33.64 1.32 3.78%

The current 90-days correlation between Api Group Corp and MasTec Inc is 0.55 (i.e., Very weak diversification). The correlation of Api Group 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.

Api Group Correlation With Market

Very weak diversification

The correlation between Api Group Corp and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Api Group Corp and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Api Stock

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

Moving against Api Stock

0.53	ORN	Orion Group Holdings	Pair Corr
0.45	DY	Dycom Industries	Pair Corr
0.45	MTZ	MasTec Inc Earnings Call This Week	Pair Corr
0.45	TLKMF	Telkom Indonesia Tbk Earnings Call This Week	Pair Corr
0.42	QVCGA	QVC Group Symbol Change	Pair Corr
0.39	SSNLF	Samsung Electronics Earnings Call This Week	Pair Corr
0.37	MYRG	MYR Group	Pair Corr
0.45	GE	GE Aerospace	Pair Corr
0.45	WMT	Walmart	Pair Corr
0.44	INTC	Intel Earnings Call This Week	Pair Corr
0.44	CAT	Caterpillar Earnings Call This Week	Pair Corr
0.32	JPM	JPMorgan Chase	Pair Corr

Related Correlations Analysis

	MTZ	STN	BLD	MAS	CSL	BLDR	WWD	TXT	ALLE	ACM
MTZ		0.33	-0.09	-0.35	-0.75	-0.68	0.11	0.69	0.74	0.72	MTZ
STN	0.33		0.14	-0.39	-0.19	-0.11	0.3	0.32	0.19	0.23	STN
BLD	-0.09	0.14		0.46	-0.14	0.33	-0.42	-0.01	0.38	0.5	BLD
MAS	-0.35	-0.39	0.46		0.22	0.66	-0.66	-0.02	0.2	0.18	MAS
CSL	-0.75	-0.19	-0.14	0.22		0.71	0.13	-0.4	-0.73	-0.72	CSL
BLDR	-0.68	-0.11	0.33	0.66	0.71		-0.22	-0.27	-0.32	-0.32	BLDR
WWD	0.11	0.3	-0.42	-0.66	0.13	-0.22		-0.08	-0.34	-0.41	WWD
TXT	0.69	0.32	-0.01	-0.02	-0.4	-0.27	-0.08		0.53	0.62	TXT
ALLE	0.74	0.19	0.38	0.2	-0.73	-0.32	-0.34	0.53		0.91	ALLE
ACM	0.72	0.23	0.5	0.18	-0.72	-0.32	-0.41	0.62	0.91		ACM
	MTZ	STN	BLD	MAS	CSL	BLDR	WWD	TXT	ALLE	ACM

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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

ACM	+ 0.91	ALLE
ALLE	+ 0.74	MTZ
ACM	+ 0.72	MTZ
BLDR	+ 0.71	CSL
TXT	+ 0.69	MTZ
BLDR	+ 0.66	MAS

High negative correlations

CSL	- 0.75	MTZ
ALLE	- 0.73	CSL
ACM	- 0.72	CSL
BLDR	- 0.68	MTZ
WWD	- 0.66	MAS
WWD	- 0.42	BLD

Risk-Adjusted Indicators

There is a big difference between Api Stock performing well and Api Group 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 Api Group'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
MTZ	1.68	0.09	0.06	0.11	2.29	(1.84)	3.15	(4.03)	15.54
STN	1.01	(0.04)	(0.03)	0.02	1.35	(1.01)	1.99	(1.76)	7.30
BLD	1.56	0.18	0.15	0.20	1.15	(2.08)	3.51	(2.38)	12.45
MAS	1.28	(0.02)	0.00	0.04	1.26	(1.70)	3.35	(2.11)	8.24
CSL	1.79	(0.45)	0.00	(0.15)	0.00	0.00	3.80	(3.69)	14.95
BLDR	2.18	(0.19)	0.00	(0.03)	0.00	0.00	5.09	(4.33)	14.06
WWD	1.05	(0.07)	0.00	(0.03)	0.00	0.00	2.55	(2.20)	5.82
TXT	1.13	(0.14)	0.00	(0.04)	0.00	0.00	2.05	(2.64)	8.56
ALLE	0.92	0.16	0.16	0.25	0.76	(1.05)	1.92	(1.40)	7.84
ACM	0.99	0.17	0.14	0.25	0.88	(1.07)	2.14	(1.90)	8.52

Api Group Corporate Management

Cyrus Walker	Independent Director	Profile
Adam Fee	Vice Relations	Profile
Kristina Morton	Senior Officer	Profile
Craig Fellman	Senior Leader	Profile
David Blitzer	Director	Profile
Andrew White	Senior Chubb	Profile
Mark Polovitz	Vice President Controller	Profile

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