Brady Correlations

BRC Stock

USD 84.58 0.06 0.07%

The current 90-days correlation between Brady and Corporacion America Airports is 0.08 (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.

Build AI portfolio with Brady Stock

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 main economic indicators.

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

Moving together with Brady Stock

0.76	DRVN	Driven Brands Holdings	Pair Corr
0.88	HNI	HNI Corp	Pair Corr
0.86	RBA	RB Global	Pair Corr
0.8	LQDT	Liquidity Services	Pair Corr
0.66	603187	Qingdao Hiron Commercial	Pair Corr
0.69	DCM	Data Communications	Pair Corr
0.95	TILE	Interface	Pair Corr
0.64	PBMRF	PT Bumi Resources	Pair Corr
0.66	AUSDF	Perenti Global	Pair Corr
0.89	RTO	Rentokil Initial PLC	Pair Corr
0.69	FFMH	First Farmers	Pair Corr
0.66	MCBS	MetroCity Bankshares	Pair Corr
0.62	LMND	Lemonade	Pair Corr
0.67	RYCEY	Rolls Royce Holdings	Pair Corr
0.63	KNCAY	Konica Minolta	Pair Corr
0.61	ACLS	Axcelis Technologies	Pair Corr
0.72	WING	Wingstop	Pair Corr
0.74	KNYJF	KONE Oyj	Pair Corr
0.7	INPOY	InPost SA	Pair Corr
0.74	RAIL	Freightcar America	Pair Corr
0.83	VZLA	Vizsla Resources Corp	Pair Corr

Moving against Brady Stock

0.69	CMWCF	Cromwell Property	Pair Corr
0.45	YIBO	Planet Image Interna	Pair Corr
0.42	BKRKF	PT Bank Rakyat	Pair Corr
0.38	PBCRF	PT Bank Central	Pair Corr
0.39	PXMD	PaxMedica Common Stock	Pair Corr
0.33	GES	Guess Inc	Pair Corr

Related Correlations Analysis

	CAAP	HAYW	ATMU	KFY	MYRG	EXPO	CXT	SEB	TPC	FLY
CAAP		0.36	0.9	0.18	0.53	0.75	-0.8	0.87	0.62	0.28	CAAP
HAYW	0.36		0.42	0.04	0.49	0.4	-0.02	0.24	0.56	0.3	HAYW
ATMU	0.9	0.42		0.39	0.6	0.8	-0.77	0.85	0.75	0.47	ATMU
KFY	0.18	0.04	0.39		0.08	0.32	-0.18	0.08	0.59	0.6	KFY
MYRG	0.53	0.49	0.6	0.08		0.53	-0.2	0.44	0.66	0.51	MYRG
EXPO	0.75	0.4	0.8	0.32	0.53		-0.58	0.75	0.63	0.29	EXPO
CXT	-0.8	-0.02	-0.77	-0.18	-0.2	-0.58		-0.8	-0.39	-0.23	CXT
SEB	0.87	0.24	0.85	0.08	0.44	0.75	-0.8		0.47	0.11	SEB
TPC	0.62	0.56	0.75	0.59	0.66	0.63	-0.39	0.47		0.73	TPC
FLY	0.28	0.3	0.47	0.6	0.51	0.29	-0.23	0.11	0.73		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

ATMU	+ 0.9	CAAP
SEB	+ 0.87	CAAP
SEB	+ 0.85	ATMU
EXPO	+ 0.8	ATMU
EXPO	+ 0.75	CAAP
TPC	+ 0.75	ATMU

High negative correlations

SEB	- 0.8	CXT
CXT	- 0.8	CAAP
CXT	- 0.77	ATMU
CXT	- 0.58	EXPO
TPC	- 0.39	CXT
FLY	- 0.23	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	1.68	0.67	0.51	0.60	0.65	(2.15)	4.77	(2.21)	19.75
HAYW	1.21	0.07	0.06	0.13	0.98	(1.81)	2.91	(1.90)	14.48
ATMU	1.40	0.28	0.20	0.27	1.27	(1.62)	3.33	(2.41)	8.91
KFY	1.10	(0.12)	0.00	(0.07)	0.00	0.00	2.18	(2.19)	6.28
MYRG	2.17	0.31	0.13	0.30	2.36	(2.37)	4.75	(4.84)	12.05
EXPO	1.24	0.06	0.04	0.12	1.20	(1.49)	2.96	(1.92)	9.28
CXT	1.57	(0.52)	0.00	(0.27)	0.00	0.00	2.60	(4.02)	8.12
SEB	1.63	0.66	0.31	(9.28)	1.24	(1.82)	3.16	(3.13)	10.07
TPC	1.86	0.24	0.11	0.25	2.07	(2.12)	4.29	(4.24)	11.99
FLY	5.77	0.27	0.05	0.18	6.84	(6.40)	16.02	(13.49)	36.50

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