MSA Safety Correlations

M07 Stock

EUR 161.00 2.00 1.26%

The current 90-days correlation between MSA Safety and Halma plc is 0.15 (i.e., Average diversification). The correlation of MSA Safety 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.

MSA Safety Correlation With Market

Significant diversification

The correlation between MSA Safety Incorporated and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MSA Safety Incorporated and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to MSA Safety could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace MSA Safety when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back MSA Safety - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling MSA Safety Incorporated to buy it.

Moving together with MSA Stock

0.87	ALZC	ASSA ABLOY AB	Pair Corr
0.74	H11	Halma plc	Pair Corr
0.83	S7MB	Securitas AB	Pair Corr
0.71	ONK	ONEOK Inc	Pair Corr
0.69	TL0	Tesla Inc	Pair Corr
0.78	UFH	US Foods Holding	Pair Corr
0.7	3EC	Eaton PLC	Pair Corr
0.65	ATR0	ATHENE HOLDING PRFSERC	Pair Corr
0.76	74F	LIFE BANC SPLIT	Pair Corr
0.64	3P7	Pandora A/S	Pair Corr
0.65	DGS	Envela Corp	Pair Corr
0.67	GM0N	GLOBUS MEDICAL A	Pair Corr
0.74	MAQ	Marriott International	Pair Corr
0.71	MKL	Atea ASA	Pair Corr
0.7	8CF	CLOUDFLARE INC A	Pair Corr
0.74	MNL	Gruppo Mutuionline SpA	Pair Corr

Moving against MSA Stock

0.65	LHL1	Lenovo Group Limited	Pair Corr
0.52	BUU	DevEx Resources	Pair Corr
0.48	PTY	Brinks	Pair Corr
0.48	CKS2	GOME Retail Holdings	Pair Corr

Related Correlations Analysis

	ALZ	ALZC	XSC	H11	60A	541	M07	S7MB	PTY
ALZ		-0.15	0.48	-0.1	0.24	-0.39	-0.06	-0.36	0.66	ALZ
ALZC	-0.15		0.14	0.84	0.02	0.59	0.87	0.9	-0.65	ALZC
XSC	0.48	0.14		0.3	-0.26	-0.24	0.07	-0.01	0.27	XSC
H11	-0.1	0.84	0.3		-0.12	0.39	0.74	0.84	-0.56	H11
60A	0.24	0.02	-0.26	-0.12		0.02	0.17	-0.02	0.27	60A
541	-0.39	0.59	-0.24	0.39	0.02		0.52	0.58	-0.7	541
M07	-0.06	0.87	0.07	0.74	0.17	0.52		0.83	-0.48	M07
S7MB	-0.36	0.9	-0.01	0.84	-0.02	0.58	0.83		-0.79	S7MB
PTY	0.66	-0.65	0.27	-0.56	0.27	-0.7	-0.48	-0.79		PTY
	ALZ	ALZC	XSC	H11	60A	541	M07	S7MB	PTY

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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

S7MB	+ 0.9	ALZC
M07	+ 0.87	ALZC
H11	+ 0.84	ALZC
S7MB	+ 0.84	H11
S7MB	+ 0.83	M07
M07	+ 0.74	H11

High negative correlations

PTY	- 0.79	S7MB
PTY	- 0.7	541
PTY	- 0.65	ALZC
PTY	- 0.56	H11
PTY	- 0.48	M07
541	- 0.39	ALZ

Risk-Adjusted Indicators

There is a big difference between MSA Stock performing well and MSA Safety 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 MSA Safety'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
ALZ	0.92	(0.10)	0.00	(3.93)	0.00	0.00	1.68	(2.19)	7.08
ALZC	1.06	0.06	0.03	(3.91)	1.14	(1.24)	2.30	(2.23)	10.59
XSC	1.04	(0.05)	0.00	1.14	0.00	0.00	2.48	(2.22)	6.72
H11	1.32	0.11	0.05	(0.23)	1.42	(1.56)	3.18	(2.90)	12.25
60A	1.05	(0.02)	0.00	1.55	0.00	0.00	2.34	(2.29)	6.23
541	1.38	0.03	0.01	0.21	1.58	(2.02)	2.38	(2.24)	22.50
M07	1.16	(0.02)	0.00	(0.56)	0.00	0.00	1.95	(2.49)	10.22
S7MB	1.42	0.35	0.26	1.28	0.99	(1.95)	2.62	(1.92)	20.17
PTY	1.45	(0.21)	0.00	0.91	0.00	0.00	2.73	(3.19)	10.11

Be your own money manager

Our tools can tell you how much better you can do entering a position in MSA Safety without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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