MasTec Correlations

MTZ Stock

USD 218.91 0.12 0.05%

The current 90-days correlation between MasTec Inc and Api Group Corp is 0.55 (i.e., Very weak diversification). The correlation of MasTec 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.

MasTec Correlation With Market

Very weak diversification

The correlation between MasTec Inc and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MasTec Inc and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with MasTec Stock

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

Moving together with MasTec Stock

0.7	DY	Dycom Industries	Pair Corr
0.61	FER	Ferrovial SE	Pair Corr
0.81	GVA	Granite Construction	Pair Corr
0.61	MSP	Minaean SP Construction Split	Pair Corr

Moving against MasTec Stock

0.68	600512	Tengda Construction	Pair Corr
0.67	600170	Shanghai Construction	Pair Corr
0.65	600545	Saurer Intelligent	Pair Corr
0.64	002551	Shenzhen Glory Medical	Pair Corr
0.61	603176	Huitong Construction	Pair Corr
0.53	600769	Wuhan Xianglong Power	Pair Corr
0.69	601789	Ningbo Construction	Pair Corr
0.63	600491	Long Yuan Construction	Pair Corr
0.59	300732	Henan Provincial Com	Pair Corr
0.49	601618	Metallurgical	Pair Corr
0.48	NCRA	Nocera Inc	Pair Corr
0.48	601186	China Railway Constr	Pair Corr
0.48	ONEG	OneConstruction Group	Pair Corr
0.47	000498	Shandong Hi Speed	Pair Corr
0.44	603843	Zhengping RoadBridge	Pair Corr
0.42	STRL	Sterling Construction	Pair Corr
0.33	002062	Hongrun Construction	Pair Corr

Related Correlations Analysis

	APG	ACM	XPO	WWD	LUV	ULS	STN	JBHT	STRL	TRU
APG		-0.84	0.78	0.91	0.8	0.34	-0.83	0.83	-0.66	0.73	APG
ACM	-0.84		-0.61	-0.86	-0.84	-0.09	0.93	-0.81	0.83	-0.75	ACM
XPO	0.78	-0.61		0.7	0.67	0.05	-0.54	0.72	-0.4	0.47	XPO
WWD	0.91	-0.86	0.7		0.88	0.16	-0.74	0.89	-0.66	0.81	WWD
LUV	0.8	-0.84	0.67	0.88		-0.13	-0.69	0.87	-0.76	0.73	LUV
ULS	0.34	-0.09	0.05	0.16	-0.13		-0.26	0.1	0.04	0.17	ULS
STN	-0.83	0.93	-0.54	-0.74	-0.69	-0.26		-0.71	0.82	-0.66	STN
JBHT	0.83	-0.81	0.72	0.89	0.87	0.1	-0.71		-0.6	0.79	JBHT
STRL	-0.66	0.83	-0.4	-0.66	-0.76	0.04	0.82	-0.6		-0.57	STRL
TRU	0.73	-0.75	0.47	0.81	0.73	0.17	-0.66	0.79	-0.57		TRU
	APG	ACM	XPO	WWD	LUV	ULS	STN	JBHT	STRL	TRU

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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

STN	+ 0.93	ACM
WWD	+ 0.91	APG
JBHT	+ 0.89	WWD
LUV	+ 0.88	WWD
JBHT	+ 0.87	LUV
JBHT	+ 0.83	APG

High negative correlations

WWD	- 0.86	ACM
LUV	- 0.84	ACM
ACM	- 0.84	APG
STN	- 0.83	APG
JBHT	- 0.81	ACM
STRL	- 0.76	LUV

Risk-Adjusted Indicators

There is a big difference between MasTec Stock performing well and MasTec 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 MasTec'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
APG	1.44	0.17	0.14	0.19	1.29	(1.73)	3.57	(2.74)	8.44
ACM	1.33	(0.47)	0.00	(0.36)	0.00	0.00	2.13	(3.01)	13.58
XPO	2.12	0.04	0.04	0.11	2.43	(2.31)	5.39	(4.39)	14.63
WWD	1.62	0.23	0.18	0.21	1.28	(1.92)	3.61	(2.23)	16.03
LUV	1.66	0.38	0.20	0.35	1.58	(1.82)	4.79	(2.83)	11.03
ULS	1.55	0.21	0.06	0.87	2.23	(1.79)	2.72	(2.73)	21.27
STN	1.13	(0.29)	0.00	(0.14)	0.00	0.00	1.76	(2.27)	8.69
JBHT	1.63	0.58	0.39	1.10	0.97	(2.14)	4.41	(2.10)	24.93
STRL	3.15	(0.35)	0.00	(0.04)	0.00	0.00	6.61	(7.45)	21.66
TRU	1.52	0.13	0.08	0.20	1.53	(1.74)	3.80	(2.85)	9.21

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