EMCOR Correlations

EME Stock

USD 729.11 1.76 0.24%

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

Weak diversification

The correlation between EMCOR Group and DJI is 0.33 (i.e., Weak 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 board of governors.

Moving together with EMCOR Stock

0.71	FLR	Fluor	Pair Corr
0.83	PRIM	Primoris Services	Pair Corr
0.71	KMFI	The Keller Manufacturing	Pair Corr
0.8	KNTK	Kinetik Holdings	Pair Corr
0.64	LANDP	Gladstone Land600%	Pair Corr
0.78	TELNY	Telenor ASA ADR	Pair Corr

Moving against EMCOR Stock

0.63	IMBBY	Imperial Brands PLC	Pair Corr
0.43	QYOUF	QYOU Media	Pair Corr

Related Correlations Analysis

	FIX	VRSK	ODFL	UAL	IR	HUBB	VLTO	ACM	RKLB	WAB
FIX		-0.18	0.74	0.42	0.81	0.81	0.21	-0.39	0.72	0.79	FIX
VRSK	-0.18		-0.04	0.07	0.09	-0.29	0.64	-0.09	0.06	-0.14	VRSK
ODFL	0.74	-0.04		0.86	0.89	0.73	0.36	-0.72	0.86	0.96	ODFL
UAL	0.42	0.07	0.86		0.7	0.46	0.4	-0.78	0.69	0.8	UAL
IR	0.81	0.09	0.89	0.7		0.75	0.54	-0.6	0.84	0.89	IR
HUBB	0.81	-0.29	0.73	0.46	0.75		0.18	-0.18	0.84	0.74	HUBB
VLTO	0.21	0.64	0.36	0.4	0.54	0.18		-0.24	0.42	0.32	VLTO
ACM	-0.39	-0.09	-0.72	-0.78	-0.6	-0.18	-0.24		-0.43	-0.71	ACM
RKLB	0.72	0.06	0.86	0.69	0.84	0.84	0.42	-0.43		0.81	RKLB
WAB	0.79	-0.14	0.96	0.8	0.89	0.74	0.32	-0.71	0.81		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	ODFL
IR	+ 0.89	ODFL
WAB	+ 0.89	IR
UAL	+ 0.86	ODFL
RKLB	+ 0.86	ODFL
RKLB	+ 0.84	IR

High negative correlations

ACM	- 0.78	UAL
ACM	- 0.72	ODFL
WAB	- 0.71	ACM
ACM	- 0.6	IR
RKLB	- 0.43	ACM
ACM	- 0.39	FIX

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	0.47	0.14	0.31	2.97	(2.40)	5.70	(5.84)	27.74
VRSK	1.06	(0.10)	0.00	(1.90)	0.00	0.00	2.00	(1.54)	10.46
ODFL	1.58	0.27	0.20	0.23	1.25	(1.80)	4.94	(2.33)	10.14
UAL	2.05	0.04	0.04	0.09	2.38	(2.10)	4.44	(3.91)	11.82
IR	1.30	(0.01)	0.02	0.06	1.42	(1.49)	3.32	(2.52)	8.77
HUBB	1.35	0.09	0.07	0.13	1.56	(1.42)	3.55	(2.83)	8.35
VLTO	0.87	(0.13)	0.00	(0.16)	0.00	0.00	1.43	(1.83)	8.53
ACM	1.25	(0.51)	0.00	(0.48)	0.00	0.00	1.46	(2.59)	12.17
RKLB	4.31	0.45	0.11	0.20	4.76	(4.68)	10.40	(9.47)	27.16
WAB	1.00	0.15	0.14	0.19	0.96	(1.06)	2.58	(1.54)	4.99

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