EMCOR Correlations

EME Stock

USD 783.06 14.44 1.81%

The current 90-days correlation between EMCOR Group and Comfort Systems USA is 0.89 (i.e., Very 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

Poor diversification

The correlation between EMCOR Group and DJI is 0.78 (i.e., Poor 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 state.

Moving together with EMCOR Stock

0.93	1PM	Primoris Services Earnings Call This Week	Pair Corr
0.85	DY	Dycom Industries	Pair Corr
0.97	EM4	EMCOR Group Earnings Call This Week	Pair Corr
0.71	GNP	Genusplus Group	Pair Corr
0.91	OBA	Obayashi	Pair Corr
0.89	OCI1	ACS Actividades de Earnings Call This Week	Pair Corr
0.87	EN	Bouygues SA Earnings Call This Week	Pair Corr
0.85	OCI	ACS ADE CADR Split	Pair Corr
0.68	NYVC	CH Karnchang Public Earnings Call This Week	Pair Corr
0.65	7HL	Hill Smith Holdings	Pair Corr
0.9	ACA	Arcosa Inc Earnings Call This Week	Pair Corr
0.64	AGX	Argan Inc	Pair Corr
0.92	APG	Api Group Corp	Pair Corr
0.8	T5R	Tcnicas Reunidas Earnings Call This Week	Pair Corr
0.7	ECG	Everus Construction Earnings Call This Week	Pair Corr
0.9	FER	Ferrovial SE Earnings Call This Week	Pair Corr
0.99	FIX	Comfort Systems USA Earnings Call Today	Pair Corr
0.85	FLR	Fluor	Pair Corr
0.84	GVA	Granite Construction	Pair Corr

Moving against EMCOR Stock

0.93	WAA	WAESTBYGG GRUPPEN	Pair Corr
0.57	AB9	ABO Wind AG	Pair Corr
0.57	NYVF	Italian-Thai Development Earnings Call This Week	Pair Corr
0.35	YIT	YIT Oyj	Pair Corr
0.35	ACM	Aecom Technology	Pair Corr
0.69	FGL	Founder Group Limited	Pair Corr
0.53	MSW	Ming Shing Group	Pair Corr

Related Correlations Analysis

	FIX	VRSK	ODFL	UAL	IR	HUBB	VLTO	ACM	RKLB	WAB
FIX		-0.79	0.85	0.41	0.93	0.94	-0.56	-0.42	0.53	0.94	FIX
VRSK	-0.79		-0.69	-0.28	-0.83	-0.7	0.87	0.18	-0.12	-0.78	VRSK
ODFL	0.85	-0.69		0.7	0.94	0.92	-0.45	-0.58	0.72	0.94	ODFL
UAL	0.41	-0.28	0.7		0.54	0.6	0.01	-0.63	0.71	0.61	UAL
IR	0.93	-0.83	0.94	0.54		0.93	-0.59	-0.49	0.55	0.96	IR
HUBB	0.94	-0.7	0.92	0.6	0.93		-0.45	-0.48	0.73	0.96	HUBB
VLTO	-0.56	0.87	-0.45	0.01	-0.59	-0.45		-0.01	0.1	-0.51	VLTO
ACM	-0.42	0.18	-0.58	-0.63	-0.49	-0.48	-0.01		-0.52	-0.53	ACM
RKLB	0.53	-0.12	0.72	0.71	0.55	0.73	0.1	-0.52		0.62	RKLB
WAB	0.94	-0.78	0.94	0.61	0.96	0.96	-0.51	-0.53	0.62		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

WAB	+ 0.96	IR
WAB	+ 0.96	HUBB
HUBB	+ 0.94	FIX
WAB	+ 0.94	FIX
IR	+ 0.94	ODFL
WAB	+ 0.94	ODFL

High negative correlations

IR	- 0.83	VRSK
VRSK	- 0.79	FIX
WAB	- 0.78	VRSK
HUBB	- 0.7	VRSK
ODFL	- 0.69	VRSK
ACM	- 0.63	UAL

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	2.39	0.45	0.12	0.35	3.26	(2.33)	5.70	(6.15)	14.99
VRSK	1.21	(0.21)	0.00	1.90	0.00	0.00	2.24	(2.55)	12.35
ODFL	1.92	0.46	0.26	0.27	1.40	(2.21)	6.32	(3.07)	14.49
UAL	2.06	0.18	0.09	0.12	2.07	(2.20)	4.44	(3.46)	13.33
IR	1.64	0.29	0.20	0.20	1.34	(2.04)	4.57	(2.53)	8.77
HUBB	1.36	0.17	0.11	0.16	1.58	(1.40)	3.27	(3.20)	7.69
VLTO	1.09	(0.07)	0.00	(0.08)	0.00	0.00	2.34	(2.59)	12.14
ACM	1.64	(0.51)	0.00	(0.38)	0.00	0.00	2.61	(3.62)	15.25
RKLB	4.83	0.66	0.13	0.25	5.00	(5.27)	10.40	(9.47)	27.73
WAB	1.07	0.28	0.25	0.26	0.84	(1.23)	2.69	(1.54)	4.99

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