Brinks Correlations

BCO Stock

USD 86.10 1.00 1.15%

The current 90-days correlation between Brinks Company and MSA Safety is 0.68 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Brinks moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Brinks Company moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Brinks Correlation With Market

Poor diversification

The correlation between Brinks Company and DJI is 0.68 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Brinks Company and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Brinks Stock

0.66

NL Industries

Pair Corr

Moving against Brinks Stock

0.53	WLDN	Willdan Group	Pair Corr
0.38	DXST	Decent Holding Ordinary	Pair Corr
0.37	DLHC	DLH Holdings Corp	Pair Corr
0.36	ESGL	ESGL Holdings Limited	Pair Corr
0.33	ADP	Automatic Data Processing	Pair Corr
0.32	LZ	LegalZoom	Pair Corr
0.31	VRSK	Verisk Analytics Sell-off Trend	Pair Corr
0.58	FTEK	Fuel Tech	Pair Corr
0.5	BTM	Bitcoin Depot Buyout Trend	Pair Corr
0.37	KAR	KAR Auction Services	Pair Corr
0.34	JOB	GEE Group	Pair Corr
0.33	III	Information Services	Pair Corr

Related Correlations Analysis

	MSA	REZI	MG	NL	ALLE	CIX
MSA		0.88	-0.53	-0.21	0.73	0.52	MSA
REZI	0.88		-0.56	-0.35	0.67	0.29	REZI
MG	-0.53	-0.56		0.42	-0.65	-0.45	MG
NL	-0.21	-0.35	0.42		0.11	0.35	NL
ALLE	0.73	0.67	-0.65	0.11		0.68	ALLE
CIX	0.52	0.29	-0.45	0.35	0.68		CIX
	MSA	REZI	MG	NL	ALLE	CIX

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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

REZI	+ 0.88	MSA
ALLE	+ 0.73	MSA
CIX	+ 0.68	ALLE
ALLE	+ 0.67	REZI
CIX	+ 0.52	MSA
NL	+ 0.42	MG

High negative correlations

ALLE	- 0.65	MG
MG	- 0.56	REZI
MG	- 0.53	MSA
CIX	- 0.45	MG
NL	- 0.35	REZI
NL	- 0.21	MSA

Risk-Adjusted Indicators

There is a big difference between Brinks Stock performing well and Brinks 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 Brinks' 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
MSA	1.24	0.13	0.07	0.16	1.60	(1.39)	2.64	(2.56)	9.70
REZI	2.09	0.21	0.07	0.19	2.97	(2.21)	5.36	(3.83)	15.90
MG	1.93	(0.39)	0.00	(0.40)	0.00	0.00	3.07	(4.08)	25.04
NL	2.62	(0.24)	0.00	(0.26)	0.00	0.00	5.72	(5.36)	14.35
ALLE	1.25	0.10	0.06	0.15	1.38	(1.34)	2.78	(2.31)	12.63
CIX	2.66	0.19	0.06	0.30	2.75	(3.80)	6.58	(4.76)	30.35

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