Great Lakes Correlations

GLDD Stock

USD 11.16 0.20 1.76%

The current 90-days correlation between Great Lakes Dredge and Southland Holdings is 0.05 (i.e., Significant diversification). The correlation of Great Lakes 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.

Great Lakes Correlation With Market

Very weak diversification

The correlation between Great Lakes Dredge and DJI is 0.44 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Great Lakes Dredge and DJI in the same portfolio, assuming nothing else is changed.

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Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Great Lakes Dredge. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with Great Stock

0.73	J	Jacobs Solutions	Pair Corr
0.87	DY	Dycom Industries	Pair Corr
0.63	ESOA	Energy Services	Pair Corr
0.71	WLDN	Willdan Group	Pair Corr
0.86	ACA	Arcosa Inc	Pair Corr
0.92	ACM	Aecom Technology	Pair Corr
0.9	AGX	Argan Inc	Pair Corr
0.92	APG	Api Group Corp	Pair Corr
0.89	ECG	Everus Construction	Pair Corr
0.81	EME	EMCOR Group Earnings Call This Week	Pair Corr
0.9	FIX	Comfort Systems USA Earnings Call This Week	Pair Corr
0.78	FLR	Fluor	Pair Corr
0.89	GVA	Granite Construction	Pair Corr
0.93	LMB	Limbach Holdings	Pair Corr
0.93	MTZ	MasTec Inc	Pair Corr
0.96	ORN	Orion Group Holdings Earnings Call This Week	Pair Corr
0.89	PWR	Quanta Services	Pair Corr
0.7	TIC	Acuren	Pair Corr
0.89	TPC	Tutor Perini	Pair Corr
0.84	ZDAI	Primega Group Holdings Symbol Change	Pair Corr
0.87	IESC	IES Holdings	Pair Corr
0.76	MTRX	Matrix Service	Pair Corr
0.88	MYRG	MYR Group	Pair Corr
0.92	NVEE	NV5 Global	Pair Corr
0.82	PRIM	Primoris Services	Pair Corr
0.95	ROAD	Construction Partners	Pair Corr
0.66	AGFY	Agrify Corp	Pair Corr
0.84	AMRC	Ameresco	Pair Corr
0.74	SLND	Southland Holdings	Pair Corr

Moving against Great Stock

0.86	FGL	Founder Group Limited	Pair Corr
0.52	VATE	Innovate Corp	Pair Corr
0.49	EXPO	Exponent Earnings Call This Week	Pair Corr
0.45	WLGS	Wang Lee Group,	Pair Corr
0.72	SKK	PROSHARES ULTRASHORT	Pair Corr

Related Correlations Analysis

	PRIM	GVA	MYRG	SLND	ROAD	MTRX	EME	KBR	APG	FIX
PRIM		0.94	0.97	0.95	0.9	0.91	0.98	-0.48	0.95	0.96	PRIM
GVA	0.94		0.93	0.92	0.94	0.83	0.96	-0.48	0.96	0.98	GVA
MYRG	0.97	0.93		0.89	0.93	0.93	0.96	-0.41	0.98	0.97	MYRG
SLND	0.95	0.92	0.89		0.81	0.83	0.96	-0.61	0.89	0.91	SLND
ROAD	0.9	0.94	0.93	0.81		0.79	0.88	-0.26	0.96	0.95	ROAD
MTRX	0.91	0.83	0.93	0.83	0.79		0.91	-0.42	0.88	0.89	MTRX
EME	0.98	0.96	0.96	0.96	0.88	0.91		-0.57	0.95	0.97	EME
KBR	-0.48	-0.48	-0.41	-0.61	-0.26	-0.42	-0.57		-0.41	-0.43	KBR
APG	0.95	0.96	0.98	0.89	0.96	0.88	0.95	-0.41		0.99	APG
FIX	0.96	0.98	0.97	0.91	0.95	0.89	0.97	-0.43	0.99		FIX
	PRIM	GVA	MYRG	SLND	ROAD	MTRX	EME	KBR	APG	FIX

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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

FIX	+ 0.99	APG
EME	+ 0.98	PRIM
FIX	+ 0.98	GVA
APG	+ 0.98	MYRG
MYRG	+ 0.97	PRIM
FIX	+ 0.97	MYRG

High negative correlations

KBR	- 0.61	SLND
KBR	- 0.57	EME
KBR	- 0.48	GVA
KBR	- 0.48	PRIM
FIX	- 0.43	KBR
KBR	- 0.42	MTRX

Risk-Adjusted Indicators

There is a big difference between Great Stock performing well and Great Lakes 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 Great Lakes' 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
PRIM	1.88	0.51	0.23	0.57	1.81	(2.16)	3.82	(2.94)	14.43
GVA	1.00	0.19	0.15	0.37	0.71	(1.21)	2.26	(1.36)	5.35
MYRG	1.63	0.70	0.45	0.79	0.78	(2.01)	3.33	(2.33)	22.62
SLND	2.00	0.44	0.16	1.03	1.92	(2.56)	4.73	(2.89)	13.50
ROAD	2.02	0.30	0.15	0.35	2.07	(2.26)	4.65	(4.31)	10.85
MTRX	1.98	0.32	0.13	0.35	2.31	(2.04)	4.05	(3.36)	20.28
EME	1.31	0.44	0.27	0.51	1.20	(1.56)	3.84	(1.97)	7.37
KBR	1.23	(0.20)	0.00	(0.17)	0.00	0.00	2.59	(2.66)	12.35
APG	1.17	0.47	0.32	0.64	0.66	(1.34)	3.63	(2.15)	9.38
FIX	1.58	0.52	0.30	0.51	1.25	(1.83)	4.51	(2.60)	8.48

Great Lakes Corporate Management

James Tastard	Sr Officer	Profile
Lynn Nietfeld	Senior Region	Profile
David Johanson	Senior Operations	Profile
Eric Birge	Vice Finance	Profile
Todd Lightfoot	VP Officer	Profile
Steven Becker	Senior Engineering	Profile

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