Great Lakes Correlations

GLDD Stock  USD 12.48  0.15  1.22%   
The current 90-days correlation between Great Lakes Dredge and Southland Holdings is 0.42 (i.e., Very weak diversification). The correlation of Great Lakes 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.

Great Lakes Correlation With Market

Very weak diversification

The correlation between Great Lakes Dredge and DJI is 0.56 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Great Lakes Dredge and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Great Lakes Dredge. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with Great Stock

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  0.94ACM Aecom TechnologyPairCorr
  0.92AGX Argan IncPairCorr
  0.91EME EMCOR GroupPairCorr
  0.92FIX Comfort Systems USAPairCorr
  0.77FLR FluorPairCorr
  0.85GVA Granite ConstructionPairCorr
  0.87LMB Limbach HoldingsPairCorr
  0.9MTZ MasTec IncPairCorr
  0.95PWR Quanta ServicesPairCorr
  0.92TPC Tutor PeriniPairCorr
  0.9IESC IES HoldingsPairCorr
  0.87MTRX Matrix ServicePairCorr
  0.85MYRG MYR GroupPairCorr
  0.82PRIM Primoris ServicesPairCorr
  0.86ROAD Construction Partners Earnings Call This WeekPairCorr
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Moving against Great Stock

  0.82SHIM Shimmick CommonPairCorr
  0.73CP Canadian Pacific RailwayPairCorr
  0.71BA Boeing Fiscal Year End 29th of January 2025 PairCorr
  0.66SLND Southland HoldingsPairCorr
  0.44AP Ampco PittsburghPairCorr

Related Correlations Analysis

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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   
GVAPRIM
FIXEME
EMEGVA
MYRGPRIM
ROADPRIM
MYRGGVA
  
High negative correlations   
SLNDGVA
SLNDMYRG
SLNDPRIM
ROADSLND
EMESLND
MTRXSLND

Risk-Adjusted Indicators

There is a big difference between Great Stock performing well and Great Lakes 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 Great Lakes' 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
PRIM  1.84  0.46  0.27  0.35  1.71 
 4.15 
 17.09 
GVA  1.08  0.36  0.36  0.43  0.46 
 2.88 
 6.13 
MYRG  2.00  0.42  0.21  0.37  1.83 
 4.73 
 17.58 
SLND  3.80 (0.55) 0.00 (0.07) 0.00 
 8.04 
 39.26 
ROAD  2.39  0.47  0.26  0.31  2.06 
 6.10 
 16.71 
MTRX  2.09  0.29  0.23  0.25  1.61 
 5.19 
 19.14 
EME  1.43  0.30  0.15  0.32  1.88 
 3.31 
 11.32 
KBR  1.34 (0.28) 0.00 (0.06) 0.00 
 2.54 
 16.92 
APG  1.36 (0.08)(0.02) 0.06  1.64 
 3.26 
 7.65 
FIX  1.81  0.35  0.14  0.29  2.77 
 5.28 
 17.05 

Great Lakes Corporate Management