Federal Signal Correlations

FSS Stock

USD 116.43 1.20 1.02%

The current 90-days correlation between Federal Signal and Zurn Elkay Water is 0.4 (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

Poor diversification

The correlation between Federal Signal and DJI is 0.67 (i.e., Poor 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 main economic indicators.

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

Moving together with Federal Stock

0.67	PFI	Palfinger AG Earnings Call Tomorrow	Pair Corr
0.7	WA9	Wabash National	Pair Corr
0.67	ROI	Rosenbauer International	Pair Corr
0.73	37C	CNH Industrial NV	Pair Corr
0.7	TXG	Terex	Pair Corr
0.64	KOM1	Komatsu	Pair Corr
0.69	ALG	Alamo Group Earnings Call Today	Pair Corr
0.7	CAT	Caterpillar	Pair Corr
0.61	CMI	Cummins	Pair Corr
0.64	CYD	China Yuchai Interna	Pair Corr
0.69	GBX	Greenbrier Companies	Pair Corr
0.64	MLR	Miller Industries	Pair Corr
0.7	MTW	Manitowoc	Pair Corr
0.74	OSK	Oshkosh	Pair Corr
0.71	TEX	Terex	Pair Corr
0.68	TRN	Trinity Industries Sell-off Trend	Pair Corr
0.71	MNGN	Manitowoc	Pair Corr
0.72	WAB	Westinghouse Air Brake	Pair Corr
0.66	WNC	Wabash National	Pair Corr
0.67	TZ4	Titan International	Pair Corr
0.73	HCMA	HITACHI CONSTRMACHADR/2	Pair Corr

Moving against Federal Stock

0.58	BNC	CEA Industries Symbol Change	Pair Corr
0.71	HCAI	Huachen AI Parking	Pair Corr
0.64	FLD	Fold Holdings Class	Pair Corr
0.5	RAL	Ralliant Common	Pair Corr
0.48	GWPD	GP Solutions	Pair Corr

Related Correlations Analysis

	ZWS	ESAB	MOG-A	TTC	R	RYAAY	SSD	IESC	ADT
ZWS		0.8	0.7	0.63	0.78	-0.32	0.77	0.61	-0.49	ZWS
ESAB	0.8		0.88	0.89	0.83	-0.21	0.95	0.68	-0.35	ESAB
MOG-A	0.7	0.88		0.97	0.89	-0.16	0.91	0.68	-0.43	MOG-A
TTC	0.63	0.89	0.97		0.85	-0.09	0.9	0.6	-0.37	TTC
R	0.78	0.83	0.89	0.85		-0.07	0.8	0.67	-0.4	R
RYAAY	-0.32	-0.21	-0.16	-0.09	-0.07		-0.37	-0.4	0.46	RYAAY
SSD	0.77	0.95	0.91	0.9	0.8	-0.37		0.75	-0.45	SSD
IESC	0.61	0.68	0.68	0.6	0.67	-0.4	0.75		-0.35	IESC
ADT	-0.49	-0.35	-0.43	-0.37	-0.4	0.46	-0.45	-0.35		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

TTC	+ 0.97	MOG-A
SSD	+ 0.95	ESAB
SSD	+ 0.91	MOG-A
SSD	+ 0.9	TTC
TTC	+ 0.89	ESAB
R	+ 0.89	MOG-A

High negative correlations

ADT	- 0.49	ZWS
ADT	- 0.45	SSD
ADT	- 0.43	MOG-A
IESC	- 0.4	RYAAY
ADT	- 0.4	R
SSD	- 0.37	RYAAY

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	0.99	0.06	0.06	0.14	0.83	(1.15)	1.78	(1.60)	11.82
ESAB	1.48	0.16	0.10	0.18	1.59	(1.66)	3.91	(2.58)	12.91
MOG-A	1.32	0.63	0.56	0.90	0.38	(1.72)	3.68	(1.61)	7.72
TTC	1.24	0.49	0.39	0.81	0.56	(1.47)	2.31	(1.41)	13.49
R	1.47	0.32	0.19	0.30	1.53	(1.66)	3.79	(3.01)	10.45
RYAAY	1.42	0.06	0.03	0.15	1.76	(1.41)	3.63	(3.04)	9.49
SSD	1.37	0.19	0.13	0.25	1.25	(1.52)	3.49	(2.17)	8.83
IESC	3.22	0.34	0.09	0.23	4.76	(3.49)	7.38	(4.48)	28.38
ADT	0.98	(0.06)	(0.03)	0.03	1.53	(0.97)	1.73	(2.31)	7.79

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