Brady Correlations

BRC Stock

USD 95.58 0.75 0.78%

The current 90-days correlation between Brady and Corporacion America Airports is 0.02 (i.e., Significant diversification). The correlation of Brady 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.

Brady Correlation With Market

Poor diversification

The correlation between Brady and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Brady and DJI in the same portfolio, assuming nothing else is changed.

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Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Brady. 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.

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

Moving together with Brady Stock

0.8	NL	NL Industries	Pair Corr
0.9	DRVN	Driven Brands Holdings Earnings Call This Week	Pair Corr
0.72	AZG2	Acacia Research	Pair Corr
0.63	GDI	GDI Integrated	Pair Corr
0.8	INPST	Inpost SA	Pair Corr
0.7	VSEC	VSE Corporation	Pair Corr
0.61	BAOA	Bastogi SpA	Pair Corr
0.83	ACU	Acme United	Pair Corr
0.84	DXT	Dexterra Group	Pair Corr
0.91	BCO	Brinks Company Earnings Call Next Week	Pair Corr
0.74	CIX	CompX International	Pair Corr
0.91	DLX	Deluxe	Pair Corr
0.96	EBF	Ennis Inc	Pair Corr
0.78	6690	INPOST SA UNSPADR12	Pair Corr
0.96	HNI	HNI Corp Earnings Call This Week	Pair Corr
0.94	MSA	MSA Safety	Pair Corr
0.72	RBA	RB Global Earnings Call This Week	Pair Corr
0.64	77Q	KNIGHTS GROUP HOL	Pair Corr
0.83	UNF	Unifirst	Pair Corr
0.71	RTO1	Rentokil Initial plc	Pair Corr

Moving against Brady Stock

0.94	WOSB	Wolters Kluwers Nv Earnings Call Next Week	Pair Corr
0.78	BTM	Bitcoin Depot	Pair Corr
0.72	TEP	Teleperformance SE	Pair Corr
0.54	EDEN	Edenred SA Earnings Call This Week	Pair Corr
0.5	VIRC	Virco Manufacturing	Pair Corr
0.48	OYM1	Odyssey Marine Explo	Pair Corr
0.46	KBL	K Bro Linen	Pair Corr
0.93	WKL	Wolters Kluwer NV Earnings Call Next Week	Pair Corr
0.84	P8X	PAX Global Technology	Pair Corr
0.72	N09	NOVUS HOLDINGS LTD	Pair Corr
0.7	PHQ	Photo Me International Earnings Call This Week	Pair Corr
0.57	T9CA	TEAM INC DL	Pair Corr
0.57	YIBO	Planet Image Interna	Pair Corr
0.48	APC	Apple Inc	Pair Corr
0.34	FUO	Dolby Laboratories	Pair Corr

Related Correlations Analysis

	CAAP	HAYW	ATMU	KFY	MYRG	EXPO	CXT	SEB	TPC	FLY
CAAP		0.53	0.89	0.44	0.75	0.47	-0.43	0.83	0.91	0.5	CAAP
HAYW	0.53		0.66	0.25	0.6	0.56	0.04	0.59	0.66	0.36	HAYW
ATMU	0.89	0.66		0.29	0.87	0.37	-0.31	0.9	0.97	0.45	ATMU
KFY	0.44	0.25	0.29		0.05	0.69	-0.47	0.12	0.3	0.57	KFY
MYRG	0.75	0.6	0.87	0.05		0.26	-0.01	0.82	0.89	0.39	MYRG
EXPO	0.47	0.56	0.37	0.69	0.26		-0.19	0.29	0.42	0.46	EXPO
CXT	-0.43	0.04	-0.31	-0.47	-0.01	-0.19		-0.22	-0.31	-0.51	CXT
SEB	0.83	0.59	0.9	0.12	0.82	0.29	-0.22		0.92	0.24	SEB
TPC	0.91	0.66	0.97	0.3	0.89	0.42	-0.31	0.92		0.48	TPC
FLY	0.5	0.36	0.45	0.57	0.39	0.46	-0.51	0.24	0.48		FLY
	CAAP	HAYW	ATMU	KFY	MYRG	EXPO	CXT	SEB	TPC	FLY

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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

TPC	+ 0.97	ATMU
TPC	+ 0.92	SEB
TPC	+ 0.91	CAAP
SEB	+ 0.9	ATMU
ATMU	+ 0.89	CAAP
TPC	+ 0.89	MYRG

High negative correlations

FLY	- 0.51	CXT
CXT	- 0.47	KFY
CXT	- 0.43	CAAP
TPC	- 0.31	CXT
CXT	- 0.31	ATMU
SEB	- 0.22	CXT

Risk-Adjusted Indicators

There is a big difference between Brady Stock performing well and Brady 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 Brady'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
CAAP	1.55	0.31	0.17	0.36	1.45	(1.77)	4.22	(2.41)	10.88
HAYW	1.12	(0.02)	0.00	0.04	1.09	(1.67)	3.15	(1.90)	8.28
ATMU	1.38	0.31	0.22	0.29	1.20	(1.52)	3.33	(2.26)	8.91
KFY	1.34	(0.11)	0.00	(0.05)	0.00	0.00	2.91	(2.28)	12.19
MYRG	2.09	0.20	0.08	0.21	2.48	(2.19)	4.31	(4.84)	12.17
EXPO	1.51	(0.17)	0.00	(0.03)	0.00	0.00	2.96	(2.80)	19.05
CXT	1.72	(0.32)	0.00	(0.17)	0.00	0.00	2.70	(4.02)	11.06
SEB	1.54	0.54	0.24	(4.90)	1.40	(1.66)	3.16	(3.19)	7.90
TPC	1.78	0.33	0.16	0.33	1.90	(1.98)	4.29	(4.24)	9.98
FLY	6.28	0.16	0.03	0.13	7.34	(6.59)	16.02	(12.87)	36.50

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