EMCOR Correlations

EME Stock

USD 696.28 33.35 5.03%

The current 90-days correlation between EMCOR Group and Comfort Systems USA is 0.86 (i.e., Very poor 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

Weak diversification

The correlation between EMCOR Group and DJI is 0.35 (i.e., Weak 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 industry.

Moving together with EMCOR Stock

0.74	DY	Dycom Industries	Pair Corr
0.86	AGX	Argan Inc	Pair Corr
0.86	ECG	Everus Construction	Pair Corr
0.75	JFB	JFB Construction Holdings	Pair Corr
0.88	VMI	Valmont Industries	Pair Corr
0.79	IESC	IES Holdings	Pair Corr
0.72	601512	China Singapore Suzhou	Pair Corr
0.63	PGINVIT-IV	POWERGRID Infrastructure	Pair Corr
0.65	CCCL	Consolidated Construction Earnings Call This Week	Pair Corr
0.64	600545	Saurer Intelligent	Pair Corr
0.8	600496	Changjiang Jinggong Steel	Pair Corr
0.72	002062	Hongrun Construction	Pair Corr
0.88	603843	Zhengping RoadBridge	Pair Corr

Moving against EMCOR Stock

0.8	FGL	Founder Group Limited	Pair Corr
0.69	300597	Jilin Jlu Communication	Pair Corr
0.61	LMB	Limbach Holdings	Pair Corr
0.54	603176	Huitong Construction	Pair Corr
0.5	WSC	Willscot Mobile Mini Earnings Call This Week	Pair Corr
0.41	600326	Tibet Tianlu	Pair Corr
0.33	002551	Shenzhen Glory Medical	Pair Corr
0.84	PNCINFRA	PNC Infratech Limited	Pair Corr
0.7	MANINFRA	Man Infraconstruction	Pair Corr
0.6	KNRCON	KNR Constructions	Pair Corr
0.45	300732	Henan Provincial Com	Pair Corr
0.39	BBCP	Concrete Pumping Holdings	Pair Corr

Related Correlations Analysis

	FIX	ODFL	WAB	IR	VLTO	EFX	ACM	UAL	HUBB	VRSK
FIX		-0.82	0.09	-0.19	-0.28	-0.2	0.86	0.28	-0.26	-0.9	FIX
ODFL	-0.82		0.16	0.51	0.2	0.25	-0.68	-0.12	0.42	0.88	ODFL
WAB	0.09	0.16		0.54	-0.4	-0.19	0.2	-0.11	-0.07	0.0	WAB
IR	-0.19	0.51	0.54		-0.08	0.29	-0.24	-0.18	0.29	0.44	IR
VLTO	-0.28	0.2	-0.4	-0.08		0.56	-0.19	0.18	0.27	0.21	VLTO
EFX	-0.2	0.25	-0.19	0.29	0.56		-0.06	0.34	0.5	0.23	EFX
ACM	0.86	-0.68	0.2	-0.24	-0.19	-0.06		0.59	-0.07	-0.86	ACM
UAL	0.28	-0.12	-0.11	-0.18	0.18	0.34	0.59		0.48	-0.28	UAL
HUBB	-0.26	0.42	-0.07	0.29	0.27	0.5	-0.07	0.48		0.32	HUBB
VRSK	-0.9	0.88	0.0	0.44	0.21	0.23	-0.86	-0.28	0.32		VRSK
	FIX	ODFL	WAB	IR	VLTO	EFX	ACM	UAL	HUBB	VRSK

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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

VRSK	+ 0.88	ODFL
ACM	+ 0.86	FIX
UAL	+ 0.59	ACM
EFX	+ 0.56	VLTO
IR	+ 0.54	WAB
IR	+ 0.51	ODFL

High negative correlations

VRSK	- 0.9	FIX
VRSK	- 0.86	ACM
ODFL	- 0.82	FIX
ACM	- 0.68	ODFL
VLTO	- 0.4	WAB
VRSK	- 0.28	UAL

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
FIX	2.09	0.61	0.36	0.58	1.21	(2.67)	4.34	(2.30)	27.03
ODFL	1.72	(0.37)	0.00	(0.15)	0.00	0.00	2.83	(3.66)	11.20
WAB	1.16	(0.19)	0.00	(0.09)	0.00	0.00	1.86	(2.31)	7.25
IR	1.49	(0.22)	0.00	(0.04)	0.00	0.00	2.98	(2.75)	12.99
VLTO	0.76	0.01	(0.01)	0.06	0.80	(0.83)	1.56	(1.19)	4.11
EFX	1.37	(0.14)	0.00	(0.06)	0.00	0.00	3.77	(2.56)	14.44
ACM	1.01	0.19	0.16	0.26	0.88	(1.09)	2.14	(1.90)	9.32
UAL	1.77	(0.01)	0.02	0.04	2.14	(1.88)	3.31	(3.84)	15.86
HUBB	1.19	(0.07)	(0.03)	0.00	1.53	(1.20)	2.52	(2.51)	6.53
VRSK	1.10	(0.38)	0.00	(0.72)	0.00	0.00	1.33	(2.55)	8.12

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