EMCOR Correlations

EME Stock

USD 546.28 4.94 0.91%

The current 90-days correlation between EMCOR Group and Pentair PLC is 0.01 (i.e., Significant diversification). The correlation of EMCOR 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.

EMCOR Correlation With Market

Poor diversification

The correlation between EMCOR Group and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding EMCOR Group and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with EMCOR Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in EMCOR Group. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with EMCOR Stock

0.94	J	Jacobs Solutions	Pair Corr
0.94	DY	Dycom Industries	Pair Corr
0.64	ESOA	Energy Services	Pair Corr
0.9	ACA	Arcosa Inc	Pair Corr
0.97	ACM	Aecom Technology	Pair Corr
0.9	AGX	Argan Inc	Pair Corr
0.97	APG	Api Group Corp	Pair Corr
0.96	ECG	Everus Construction	Pair Corr
0.98	FIX	Comfort Systems USA	Pair Corr
0.89	FLR	Fluor	Pair Corr
0.97	GVA	Granite Construction	Pair Corr
0.64	MSW	Ming Shing Group	Pair Corr
0.97	MTZ	MasTec Inc	Pair Corr
0.95	ORN	Orion Group Holdings Potential Growth	Pair Corr
0.98	PWR	Quanta Services	Pair Corr
0.95	TPC	Tutor Perini	Pair Corr
0.95	GLDD	Great Lakes Dredge	Pair Corr
0.79	ZDAI	Primega Group Holdings Symbol Change	Pair Corr
0.98	IESC	IES Holdings	Pair Corr
0.86	MTRX	Matrix Service	Pair Corr
0.97	MYRG	MYR Group	Pair Corr
0.88	NVEE	NV5 Global	Pair Corr
0.88	ONEG	OneConstruction Group Downward Rally	Pair Corr
0.96	PRIM	Primoris Services	Pair Corr
0.62	RITR	Reitar Logtech Holdings	Pair Corr
0.94	ROAD	Construction Partners	Pair Corr
0.92	AMRC	Ameresco	Pair Corr
0.63	SHIM	Shimmick Common	Pair Corr
0.97	SLND	Southland Holdings	Pair Corr
0.98	STRL	Sterling Construction	Pair Corr
0.94	BWMN	Bowman Consulting	Pair Corr

Moving against EMCOR Stock

0.85	FGL	Founder Group Limited	Pair Corr
0.63	WLGS	Wang Lee Group,	Pair Corr
0.54	FBGL	FBS Global Limited	Pair Corr
0.41	VATE	Innovate Corp	Pair Corr
0.7	SKK	PROSHARES ULTRASHORT	Pair Corr
0.62	G	Genpact Limited	Pair Corr

Related Correlations Analysis

	PNR	JYNT	AL	BLDE	ALK	RCC	PWP	WAB
PNR		0.47	0.95	0.88	0.66	-0.17	0.86	0.99	PNR
JYNT	0.47		0.48	0.67	0.19	-0.13	0.54	0.48	JYNT
AL	0.95	0.48		0.9	0.74	-0.22	0.82	0.97	AL
BLDE	0.88	0.67	0.9		0.54	-0.19	0.81	0.89	BLDE
ALK	0.66	0.19	0.74	0.54		-0.17	0.56	0.68	ALK
RCC	-0.17	-0.13	-0.22	-0.19	-0.17		0.1	-0.18	RCC
PWP	0.86	0.54	0.82	0.81	0.56	0.1		0.86	PWP
WAB	0.99	0.48	0.97	0.89	0.68	-0.18	0.86		WAB
	PNR	JYNT	AL	BLDE	ALK	RCC	PWP	WAB

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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

WAB	+ 0.99	PNR
WAB	+ 0.97	AL
AL	+ 0.95	PNR
BLDE	+ 0.9	AL
WAB	+ 0.89	BLDE
BLDE	+ 0.88	PNR

High negative correlations

RCC	- 0.22	AL
RCC	- 0.19	BLDE
WAB	- 0.18	RCC
RCC	- 0.17	ALK
RCC	- 0.17	PNR
RCC	- 0.13	JYNT

Risk-Adjusted Indicators

There is a big difference between EMCOR Stock performing well and EMCOR 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 EMCOR'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
PNR	1.57	0.29	0.10	7.50	1.87	(1.81)	3.34	(2.45)	14.12
JYNT	2.76	(0.06)	(0.01)	0.02	3.96	(2.70)	6.09	(7.10)	20.40
AL	1.71	0.34	0.08	(3.45)	2.72	(1.69)	3.49	(3.19)	17.06
BLDE	3.08	0.71	0.20	(2.67)	2.58	(3.62)	7.77	(4.20)	23.00
ALK	2.66	(0.10)	(0.01)	0.02	4.31	(2.43)	3.83	(6.52)	34.04
RCC	0.32	0.00	(0.16)	(0.36)	0.43	(0.37)	0.78	(0.56)	2.78
PWP	2.48	0.21	0.03	(1.46)	3.86	(2.42)	5.07	(5.77)	22.77
WAB	1.34	0.24	0.08	5.47	1.90	(1.46)	2.82	(2.27)	13.80

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