Mesa Laboratories Correlations

MLAB Stock

USD 70.05 5.08 6.76%

The current 90-days correlation between Mesa Laboratories and Vishay Precision Group is 0.39 (i.e., Weak diversification). The correlation of Mesa Laboratories 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.

Mesa Laboratories Correlation With Market

Very weak diversification

The correlation between Mesa Laboratories and DJI is 0.56 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mesa Laboratories and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Mesa Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Mesa Laboratories. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

For information on how to trade Mesa Stock refer to our How to Trade Mesa Stock guide.

Moving together with Mesa Stock

0.68

MCD

McDonalds

Pair Corr

Moving against Mesa Stock

0.88	WF	Woori Financial Group Earnings Call This Week	Pair Corr
0.87	SHG	Shinhan Financial Earnings Call This Week	Pair Corr
0.78	KB	KB Financial Group Earnings Call Today	Pair Corr
0.75	TLK	Telkom Indonesia Tbk	Pair Corr
0.72	PFE	Pfizer Inc	Pair Corr
0.67	KMDA	Kamada	Pair Corr
0.67	CGEN	Compugen	Pair Corr
0.65	NKTR	Nektar Therapeutics	Pair Corr
0.62	EC	Ecopetrol SA ADR	Pair Corr
0.6	JNJ	Johnson Johnson	Pair Corr
0.56	HYMTF	Hyundai Motor Earnings Call This Week	Pair Corr
0.5	MUFG	Mitsubishi UFJ Financial	Pair Corr
0.42	MRK	Merck Company	Pair Corr
0.33	VFSWW	VinFast Auto	Pair Corr
0.78	CVX	Chevron Corp	Pair Corr
0.77	CAT	Caterpillar	Pair Corr
0.73	GE	GE Aerospace Earnings Call Tomorrow	Pair Corr
0.72	JPM	JPMorgan Chase	Pair Corr
0.7	MSFT	Microsoft	Pair Corr
0.64	BAC	Bank of America	Pair Corr
0.64	DIS	Walt Disney	Pair Corr
0.61	DD	Dupont De Nemours	Pair Corr
0.57	AA	Alcoa Corp	Pair Corr
0.51	INTC	Intel Earnings Call This Week	Pair Corr

Related Correlations Analysis

	NOVT	ITRI	FTV	VPG	COHR	ESE	ST	SEPJF	FCUV	BMI
NOVT		0.6	0.67	0.68	0.63	0.76	0.72	0.39	-0.2	0.52	NOVT
ITRI	0.6		0.06	0.5	0.64	0.87	0.7	0.88	-0.59	0.2	ITRI
FTV	0.67	0.06		0.64	0.48	0.32	0.55	-0.12	0.12	0.77	FTV
VPG	0.68	0.5	0.64		0.91	0.61	0.9	0.34	-0.13	0.84	VPG
COHR	0.63	0.64	0.48	0.91		0.71	0.96	0.49	-0.33	0.79	COHR
ESE	0.76	0.87	0.32	0.61	0.71		0.75	0.66	-0.64	0.41	ESE
ST	0.72	0.7	0.55	0.9	0.96	0.75		0.58	-0.35	0.76	ST
SEPJF	0.39	0.88	-0.12	0.34	0.49	0.66	0.58		-0.54	0.03	SEPJF
FCUV	-0.2	-0.59	0.12	-0.13	-0.33	-0.64	-0.35	-0.54		-0.07	FCUV
BMI	0.52	0.2	0.77	0.84	0.79	0.41	0.76	0.03	-0.07		BMI
	NOVT	ITRI	FTV	VPG	COHR	ESE	ST	SEPJF	FCUV	BMI

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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

ST	+ 0.96	COHR
COHR	+ 0.91	VPG
ST	+ 0.9	VPG
SEPJF	+ 0.88	ITRI
ESE	+ 0.87	ITRI
BMI	+ 0.84	VPG

High negative correlations

FCUV	- 0.64	ESE
FCUV	- 0.59	ITRI
FCUV	- 0.54	SEPJF
FCUV	- 0.35	ST
FCUV	- 0.33	COHR
FCUV	- 0.2	NOVT

Risk-Adjusted Indicators

There is a big difference between Mesa Stock performing well and Mesa Laboratories 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 Mesa Laboratories' 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
NOVT	1.56	0.16	0.03	1.59	1.71	(1.72)	2.88	(3.08)	11.36
ITRI	0.96	0.47	0.30	(133.81)	0.56	(1.19)	2.59	(1.19)	6.46
FTV	1.15	(0.11)	(0.07)	0.03	1.42	(1.26)	2.68	(2.21)	7.92
VPG	2.68	0.27	0.14	0.26	2.53	(2.96)	6.31	(4.53)	24.61
COHR	2.27	0.66	0.33	0.49	1.84	(2.72)	7.03	(3.62)	15.09
ESE	1.32	0.44	0.28	1.97	0.84	(1.74)	3.25	(1.72)	10.04
ST	2.00	0.50	0.29	0.42	1.41	(2.29)	4.01	(2.98)	18.61
SEPJF	3.47	1.27	0.35	1.64	2.03	(5.64)	7.17	(4.24)	54.12
FCUV	3.67	(0.56)	0.00	(1.73)	0.00	0.00	8.27	(8.54)	38.07
BMI	1.26	0.37	0.30	0.79	0.65	(1.67)	3.35	(1.87)	12.02

Mesa Laboratories Corporate Management

Peter Dansky	Pres Genomics	Profile
Brian Archbold	Senior Improvement	Profile
Bryan Leo	VP Operations	Profile
Garrett Krushefski	VP Operations	Profile

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