Zurn Elkay Correlations

ZWS Stock

USD 37.55 0.22 0.59%

The current 90-days correlation between Zurn Elkay Water and Federal Signal is 0.56 (i.e., Very weak diversification). The correlation of Zurn Elkay 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.

Zurn Elkay Correlation With Market

Poor diversification

The correlation between Zurn Elkay Water and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Zurn Elkay Water and DJI in the same portfolio, assuming nothing else is changed.

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Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Zurn Elkay Water. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in housing.

Moving together with Zurn Stock

0.7	ARQ	Arq Inc	Pair Corr
0.85	FSS	Federal Signal Earnings Call This Week	Pair Corr
0.67	PCT	Purecycle Technologies	Pair Corr
0.7	ADUR	Aduro Clean Technologies	Pair Corr
0.62	PCTTW	PureCycle Technologies	Pair Corr
0.85	CECO	CECO Environmental Corp	Pair Corr
0.85	J	Jacobs Solutions	Pair Corr
0.77	R	Ryder System Earnings Call This Week	Pair Corr
0.92	AL	Air Lease	Pair Corr
0.72	AP	Ampco Pittsburgh	Pair Corr
0.69	AZ	A2Z Smart Technologies	Pair Corr
0.92	BA	Boeing	Pair Corr
0.63	BE	Bloom Energy Corp	Pair Corr
0.85	BV	BrightView Holdings	Pair Corr
0.76	BW	Babcock Wilcox Enter	Pair Corr
0.76	CP	Canadian Pacific Railway	Pair Corr
0.9	CR	Crane Company	Pair Corr
0.81	CW	Curtiss Wright	Pair Corr
0.84	DE	Deere Company	Pair Corr
0.79	DY	Dycom Industries	Pair Corr
0.81	FA	First Advantage Corp	Pair Corr
0.86	GE	GE Aerospace Earnings Call This Week	Pair Corr
0.83	HY	Hyster Yale Materials	Pair Corr
0.93	IR	Ingersoll Rand	Pair Corr

Moving against Zurn Stock

0.64	ERII	Energy Recovery	Pair Corr
0.52	G	Genpact Limited	Pair Corr
0.7	MG	Mistras Group	Pair Corr

Related Correlations Analysis

	ERII	CECO	SCWO	MKUL	FSS	FTEK	DCTIF	AKCCF	TOMZ
ERII		-0.64	-0.39	0.0	-0.67	-0.5	-0.37	0.21	-0.61	ERII
CECO	-0.64		0.04	0.0	0.95	0.81	-0.05	-0.53	0.65	CECO
SCWO	-0.39	0.04		0.0	-0.05	-0.16	0.3	0.29	0.28	SCWO
MKUL	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	MKUL
FSS	-0.67	0.95	-0.05	0.0		0.9	-0.04	-0.63	0.77	FSS
FTEK	-0.5	0.81	-0.16	0.0	0.9		-0.31	-0.78	0.74	FTEK
DCTIF	-0.37	-0.05	0.3	0.0	-0.04	-0.31		0.49	-0.06	DCTIF
AKCCF	0.21	-0.53	0.29	0.0	-0.63	-0.78	0.49		-0.59	AKCCF
TOMZ	-0.61	0.65	0.28	0.0	0.77	0.74	-0.06	-0.59		TOMZ
	ERII	CECO	SCWO	MKUL	FSS	FTEK	DCTIF	AKCCF	TOMZ

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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

FSS	+ 0.95	CECO
FTEK	+ 0.9	FSS
FTEK	+ 0.81	CECO
TOMZ	+ 0.77	FSS
TOMZ	+ 0.74	FTEK
TOMZ	+ 0.65	CECO

High negative correlations

AKCCF	- 0.78	FTEK
FSS	- 0.67	ERII
CECO	- 0.64	ERII
AKCCF	- 0.63	FSS
TOMZ	- 0.61	ERII
TOMZ	- 0.59	AKCCF

Risk-Adjusted Indicators

There is a big difference between Zurn Stock performing well and Zurn Elkay 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 Zurn Elkay'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
ERII	1.77	(0.26)	0.00	(0.08)	0.00	0.00	2.85	(2.42)	21.40
CECO	2.36	0.50	0.24	0.43	1.94	(2.86)	5.59	(3.76)	20.71
SCWO	7.23	(0.20)	(0.01)	0.02	8.74	(8.58)	15.00	(17.07)	65.27
MKUL	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FSS	1.27	0.41	0.31	0.53	0.86	(1.58)	3.44	(2.00)	10.24
FTEK	4.68	1.75	0.38	(6.55)	3.15	(6.45)	13.11	(5.74)	39.67
DCTIF	11.58	1.68	0.06	0.53	11.95	(78.63)	38.89	(33.50)	177.08
AKCCF	10.63	(0.58)	0.00	(0.04)	0.00	0.00	29.21	(23.20)	146.80
TOMZ	2.81	0.28	0.05	1.12	3.09	(3.42)	4.88	(5.88)	37.25

Zurn Elkay Corporate Management

Sudhanshu Chhabra	Vice President - Rexnord Business Systems	Profile
Michael Troutman	Chief Information Officer	Profile
Mark Bartlett	Lead Independent Director	Profile
Thomas Christopoul	Independent Director	Profile

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