Federal Signal Correlations

FSS Stock

USD 114.51 2.39 2.04%

The current 90-days correlation between Federal Signal and Zurn Elkay Water is 0.49 (i.e., Very weak diversification). The correlation of Federal Signal 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.

Federal Signal Correlation With Market

Very weak diversification

The correlation between Federal Signal and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Federal Signal and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Federal Stock

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

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

Moving together with Federal Stock

0.7	GP	GreenPower Motor	Pair Corr
0.71	WPRT	Westport Fuel Systems	Pair Corr
0.72	ALG	Alamo Group	Pair Corr
0.8	MLR	Miller Industries	Pair Corr
0.66	000880	Weichai Heavy Machinery	Pair Corr
0.73	AFN	Ag Growth International	Pair Corr

Moving against Federal Stock

0.43	600984	Shaanxi Construction	Pair Corr
0.42	CMI	Cummins	Pair Corr
0.51	GWPD	GP Solutions	Pair Corr
0.45	RAL	Ralliant Common	Pair Corr
0.54	301039	CIMC Vehicles	Pair Corr
0.45	002691	Jikai Equipment Manu	Pair Corr
0.42	600066	Zhengzhou Yutong Bus	Pair Corr
0.4	300455	Beijing Ctrowell Tec	Pair Corr

Related Correlations Analysis

	ZWS	ESAB	MOG-A	TTC	R	RYAAY	SSD	IESC	ADT
ZWS		-0.06	0.21	-0.01	0.22	0.44	0.04	0.41	-0.13	ZWS
ESAB	-0.06		0.21	0.54	0.24	-0.08	0.8	0.16	0.78	ESAB
MOG-A	0.21	0.21		0.8	0.81	0.79	0.34	0.53	-0.22	MOG-A
TTC	-0.01	0.54	0.8		0.62	0.53	0.57	0.17	0.14	TTC
R	0.22	0.24	0.81	0.62		0.79	0.12	0.46	-0.16	R
RYAAY	0.44	-0.08	0.79	0.53	0.79		-0.11	0.4	-0.39	RYAAY
SSD	0.04	0.8	0.34	0.57	0.12	-0.11		0.33	0.62	SSD
IESC	0.41	0.16	0.53	0.17	0.46	0.4	0.33		-0.07	IESC
ADT	-0.13	0.78	-0.22	0.14	-0.16	-0.39	0.62	-0.07		ADT
	ZWS	ESAB	MOG-A	TTC	R	RYAAY	SSD	IESC	ADT

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

R	+ 0.81	MOG-A
SSD	+ 0.8	ESAB
TTC	+ 0.8	MOG-A
RYAAY	+ 0.79	MOG-A
RYAAY	+ 0.79	R
ADT	+ 0.78	ESAB

High negative correlations

ADT	- 0.39	RYAAY
ADT	- 0.22	MOG-A
ADT	- 0.16	R
ADT	- 0.13	ZWS
SSD	- 0.11	RYAAY
RYAAY	- 0.08	ESAB

Risk-Adjusted Indicators

There is a big difference between Federal Stock performing well and Federal Signal 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 Federal Signal'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
ZWS	0.97	(0.05)	(0.05)	0.03	1.11	(1.04)	2.02	(1.75)	6.90
ESAB	1.33	(0.10)	(0.04)	0.02	1.87	(1.33)	3.31	(2.62)	7.77
MOG-A	1.27	0.39	0.37	0.35	0.72	(1.60)	3.48	(1.72)	10.06
TTC	1.21	0.21	0.19	0.31	0.77	(1.60)	2.94	(1.82)	13.49
R	1.35	(0.01)	0.00	0.08	2.84	(1.18)	3.54	(3.03)	13.25
RYAAY	1.18	0.09	0.06	0.19	1.10	(1.38)	3.75	(1.79)	7.50
SSD	1.35	0.05	0.05	0.13	1.47	(1.48)	2.84	(2.63)	9.75
IESC	3.02	0.07	0.05	0.11	3.98	(3.17)	6.33	(6.90)	25.84
ADT	0.90	(0.11)	0.00	(0.05)	0.00	0.00	1.62	(1.71)	9.78

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