Ming Shing Correlations

Stocks . USA . 
Stock . Ming Shing Group
MSW Stock  USD 4.31  0.07  1.60%   
The current 90-days correlation between Ming Shing Group and Eastern Co is -0.08 (i.e., Good diversification). The correlation of Ming Shing 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Ming Shing Correlation With Market

Good diversification

The correlation between Ming Shing Group and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ming Shing Group and DJI in the same portfolio, assuming nothing else is changed.
  
Build AI portfolio with Ming Stock
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Ming Shing 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 state.

Moving together with Ming Stock

  0.62J Jacobs Solutions Sell-off TrendPairCorr
  0.63ACA Arcosa IncPairCorr
  0.61ECG Everus ConstructionPairCorr
  0.68ORN Orion Group HoldingsPairCorr
  0.65TPC Tutor PeriniPairCorr
  0.61GLDD Great Lakes DredgePairCorr
  0.67ZDAI Primega Group Holdings Symbol ChangePairCorr
  0.65IESC IES HoldingsPairCorr
  0.69PRIM Primoris ServicesPairCorr
  0.7AMRC AmerescoPairCorr
  0.68SLND Southland HoldingsPairCorr
  0.7BWMN Bowman ConsultingPairCorr

Moving against Ming Stock

  0.49FGL Founder Group LimitedPairCorr
  0.39SKK PROSHARES ULTRASHORTPairCorr
  0.47G Genpact LimitedPairCorr

Related Correlations Analysis

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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   
APAM
+ 0.92
AMP
SEIC
+ 0.9
AMP
APAM
+ 0.89
SEIC
EL
+ 0.87
GROW
EL
+ 0.84
APAM
EL
+ 0.82
AMP
  
High negative correlations   
CHD
- 0.59
SEIC
APAM
- 0.44
CHD
CHD
- 0.35
AMP
EL
- 0.09
CHD

Risk-Adjusted Indicators

There is a big difference between Ming Stock performing well and Ming Shing 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 Ming Shing'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.

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