EMCOR Correlations

EME Stock

USD 653.57 14.92 2.34%

The current 90-days correlation between EMCOR Group and Comfort Systems USA is 0.73 (i.e., Poor diversification). The correlation of EMCOR 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.

EMCOR Correlation With Market

Significant diversification

The correlation between EMCOR Group and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding EMCOR Group and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with EMCOR Stock

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

Moving together with EMCOR Stock

0.67	ACM	Aecom Technology	Pair Corr
0.62	600545	Saurer Intelligent	Pair Corr
0.63	300732	Henan Provincial Com	Pair Corr
0.66	002062	Hongrun Construction	Pair Corr
0.74	BDT	Bird Construction	Pair Corr
0.69	601186	China Railway Constr	Pair Corr
0.64	600491	Long Yuan Construction	Pair Corr
0.77	ONEG	OneConstruction Group	Pair Corr
0.67	601618	Metallurgical	Pair Corr
0.66	000498	Shandong Hi Speed	Pair Corr
0.74	ROAD	Construction Partners	Pair Corr
0.8	AMRC	Ameresco	Pair Corr
0.77	SPAI	Safe Pro Group	Pair Corr

Moving against EMCOR Stock

0.74	HUHU	HUHUTECH International Downward Rally	Pair Corr
0.66	002822	Shenzhen Zhongzhuang	Pair Corr
0.62	GLDD	Great Lakes Dredge	Pair Corr
0.43	FER	Ferrovial SE	Pair Corr
0.39	002307	Xinjiang Beixin Road	Pair Corr
0.37	JFB	JFB Construction Holdings	Pair Corr
0.37	300597	Jilin Jlu Communication	Pair Corr
0.34	ORN	Orion Group Holdings	Pair Corr
0.66	AMPH	Amphastar P	Pair Corr
0.57	SHA	Shape Australia	Pair Corr
0.44	NWPX	Northwest Pipe	Pair Corr
0.36	DRT	DIRTT Environmental	Pair Corr
0.32	600853	Longjian Road Bridge	Pair Corr
0.31	603843	Zhengping RoadBridge	Pair Corr

Related Correlations Analysis

	FIX	VRSK	ODFL	UAL	IR	HUBB	VLTO	ACM	RKLB	WAB
FIX		-0.74	0.41	0.33	0.39	0.7	-0.44	-0.46	-0.05	0.71	FIX
VRSK	-0.74		-0.25	-0.12	-0.04	-0.62	0.72	0.34	0.27	-0.6	VRSK
ODFL	0.41	-0.25		0.91	0.73	0.47	0.02	-0.71	0.54	0.84	ODFL
UAL	0.33	-0.12	0.91		0.68	0.32	0.12	-0.74	0.55	0.79	UAL
IR	0.39	-0.04	0.73	0.68		0.38	0.36	-0.53	0.45	0.63	IR
HUBB	0.7	-0.62	0.47	0.32	0.38		-0.31	-0.11	0.4	0.58	HUBB
VLTO	-0.44	0.72	0.02	0.12	0.36	-0.31		0.15	0.35	-0.24	VLTO
ACM	-0.46	0.34	-0.71	-0.74	-0.53	-0.11	0.15		-0.03	-0.78	ACM
RKLB	-0.05	0.27	0.54	0.55	0.45	0.4	0.35	-0.03		0.2	RKLB
WAB	0.71	-0.6	0.84	0.79	0.63	0.58	-0.24	-0.78	0.2		WAB
	FIX	VRSK	ODFL	UAL	IR	HUBB	VLTO	ACM	RKLB	WAB

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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

UAL	+ 0.91	ODFL
WAB	+ 0.84	ODFL
WAB	+ 0.79	UAL
IR	+ 0.73	ODFL
VLTO	+ 0.72	VRSK
WAB	+ 0.71	FIX

High negative correlations

WAB	- 0.78	ACM
ACM	- 0.74	UAL
VRSK	- 0.74	FIX
ACM	- 0.71	ODFL
HUBB	- 0.62	VRSK
WAB	- 0.6	VRSK

Risk-Adjusted Indicators

There is a big difference between EMCOR Stock performing well and EMCOR 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 EMCOR'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
FIX	2.43	0.45	0.10	(1.65)	2.94	(2.52)	5.70	(5.56)	27.74
VRSK	1.13	(0.15)	0.00	1.52	0.00	0.00	2.00	(1.54)	11.83
ODFL	1.61	0.24	0.09	1.35	1.65	(1.77)	3.24	(2.42)	9.16
UAL	2.11	0.29	0.08	3.12	2.56	(2.14)	3.93	(4.61)	11.82
IR	1.25	0.01	(0.03)	0.19	1.45	(1.43)	3.04	(2.47)	7.84
HUBB	1.41	0.21	0.08	4.47	1.47	(1.60)	3.55	(2.83)	8.31
VLTO	0.83	(0.08)	0.00	0.84	0.00	0.00	1.41	(1.70)	8.53
ACM	1.34	(0.47)	0.00	(0.59)	0.00	0.00	2.12	(3.02)	13.58
RKLB	4.12	0.55	0.08	(1.64)	4.77	(4.45)	10.40	(9.45)	26.15
WAB	1.04	0.15	0.06	12.20	1.18	(1.07)	2.43	(2.13)	4.58

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