Dycom Industries Correlations

DY Stock

USD 183.24 6.68 3.78%

The current 90-days correlation between Dycom Industries and MYR Group is 0.22 (i.e., Modest diversification). The correlation of Dycom Industries 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.

Dycom Industries Correlation With Market

Average diversification

The correlation between Dycom Industries and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dycom Industries and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Dycom Industries. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

For more information on how to buy Dycom Stock please use our How to Invest in Dycom Industries guide.

Moving against Dycom Stock

0.31	ORN	Orion Group Holdings	Pair Corr
0.4	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr

Related Correlations Analysis

	EME	MYRG	BLD	APG	PWR	FIX	GVA	MTZ	ROAD	MTRX
EME		0.91	-0.25	0.42	0.95	0.98	0.97	0.98	0.95	0.95	EME
MYRG	0.91		-0.44	0.58	0.85	0.87	0.95	0.88	0.93	0.83	MYRG
BLD	-0.25	-0.44		-0.21	-0.17	-0.16	-0.41	-0.15	-0.36	-0.2	BLD
APG	0.42	0.58	-0.21		0.24	0.32	0.52	0.4	0.55	0.31	APG
PWR	0.95	0.85	-0.17	0.24		0.97	0.88	0.94	0.89	0.91	PWR
FIX	0.98	0.87	-0.16	0.32	0.97		0.91	0.96	0.91	0.94	FIX
GVA	0.97	0.95	-0.41	0.52	0.88	0.91		0.93	0.96	0.91	GVA
MTZ	0.98	0.88	-0.15	0.4	0.94	0.96	0.93		0.9	0.92	MTZ
ROAD	0.95	0.93	-0.36	0.55	0.89	0.91	0.96	0.9		0.88	ROAD
MTRX	0.95	0.83	-0.2	0.31	0.91	0.94	0.91	0.92	0.88		MTRX
	EME	MYRG	BLD	APG	PWR	FIX	GVA	MTZ	ROAD	MTRX

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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

FIX	+ 0.98	EME
MTZ	+ 0.98	EME
GVA	+ 0.97	EME
FIX	+ 0.97	PWR
MTZ	+ 0.96	FIX
ROAD	+ 0.96	GVA

High negative correlations

BLD	- 0.44	MYRG
GVA	- 0.41	BLD
ROAD	- 0.36	BLD
BLD	- 0.25	EME
APG	- 0.21	BLD
MTRX	- 0.2	BLD

Risk-Adjusted Indicators

There is a big difference between Dycom Stock performing well and Dycom Industries 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 Dycom Industries' 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
EME	1.36	0.39	0.20	0.33	1.66	(1.58)	3.31	(1.64)	11.32
MYRG	2.00	0.40	0.20	0.32	1.84	(2.34)	4.73	(3.54)	17.58
BLD	1.66	(0.20)	0.00	(0.07)	0.00	0.00	4.30	(3.89)	12.30
APG	1.34	(0.05)	(0.01)	0.05	1.67	(1.46)	3.26	(3.02)	7.65
PWR	1.20	0.25	0.15	0.31	1.39	(1.40)	3.23	(1.75)	9.70
FIX	1.86	0.40	0.14	0.27	2.85	(2.00)	5.28	(2.23)	17.05
GVA	1.08	0.40	0.40	0.42	0.46	(1.36)	2.88	(1.32)	6.13
MTZ	1.70	0.23	0.13	0.23	1.85	(1.95)	4.33	(2.85)	10.15
ROAD	2.29	0.47	0.24	0.28	2.05	(2.78)	6.10	(3.32)	16.71
MTRX	2.09	0.36	0.25	0.24	1.58	(2.68)	5.19	(2.63)	19.14

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