Mesa Laboratories Correlations

MLAB Stock

USD 100.86 2.27 2.30%

The current 90-days correlation between Mesa Laboratories and Vishay Precision Group is 0.32 (i.e., Weak diversification). The correlation of Mesa Laboratories 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.

Mesa Laboratories Correlation With Market

Poor diversification

The correlation between Mesa Laboratories 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 Mesa Laboratories and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Mesa Laboratories. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

For information on how to trade Mesa Stock refer to our How to Trade Mesa Stock guide.

Moving together with Mesa Stock

0.75	A	Agilent Technologies Earnings Call This Week	Pair Corr
0.69	ME	23Andme Holding	Pair Corr
0.65	DNTH	Dianthus Therapeutics	Pair Corr
0.61	DTIL	Precision BioSciences	Pair Corr
0.62	VIRX	Viracta Therapeutics	Pair Corr
0.69	EDIT	Editas Medicine	Pair Corr
0.75	EDSA	Edesa Biotech Fiscal Year End 20th of December 2024	Pair Corr

Moving against Mesa Stock

0.52	SABSW	SAB Biotherapeutics	Pair Corr
0.47	DRUG	Bright Minds Biosciences	Pair Corr
0.46	VERA	Vera Therapeutics	Pair Corr
0.44	DSGN	Design Therapeutics	Pair Corr
0.41	VCEL	Vericel Corp Ord	Pair Corr
0.62	VSTM	Verastem	Pair Corr
0.52	VRNA	Verona Pharma PLC	Pair Corr
0.49	DVAX	Dynavax Technologies	Pair Corr
0.6	VYNE	Vyne Therapeutics	Pair Corr
0.55	VTRS	Viatris	Pair Corr
0.53	ENSC	Ensysce Biosciences	Pair Corr
0.5	ELDN	Eledon Pharmaceuticals	Pair Corr

Related Correlations Analysis

	NOVT	ITRI	FTV	VPG	COHR	ESE	ST	SEPJF	FCUV	BMI
NOVT		-0.01	0.15	0.62	0.04	-0.14	0.64	0.28	-0.45	0.15	NOVT
ITRI	-0.01		0.22	-0.66	0.74	0.87	-0.68	-0.6	-0.23	0.63	ITRI
FTV	0.15	0.22		-0.19	0.55	0.29	0.02	-0.38	-0.07	0.71	FTV
VPG	0.62	-0.66	-0.19		-0.62	-0.74	0.9	0.76	-0.2	-0.34	VPG
COHR	0.04	0.74	0.55	-0.62		0.78	-0.51	-0.84	-0.4	0.65	COHR
ESE	-0.14	0.87	0.29	-0.74	0.78		-0.75	-0.66	-0.23	0.5	ESE
ST	0.64	-0.68	0.02	0.9	-0.51	-0.75		0.66	-0.13	-0.27	ST
SEPJF	0.28	-0.6	-0.38	0.76	-0.84	-0.66	0.66		0.14	-0.46	SEPJF
FCUV	-0.45	-0.23	-0.07	-0.2	-0.4	-0.23	-0.13	0.14		-0.2	FCUV
BMI	0.15	0.63	0.71	-0.34	0.65	0.5	-0.27	-0.46	-0.2		BMI
	NOVT	ITRI	FTV	VPG	COHR	ESE	ST	SEPJF	FCUV	BMI

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

ST	+ 0.9	VPG
ESE	+ 0.87	ITRI
ESE	+ 0.78	COHR
SEPJF	+ 0.76	VPG
COHR	+ 0.74	ITRI
BMI	+ 0.71	FTV

High negative correlations

SEPJF	- 0.84	COHR
ST	- 0.75	ESE
ESE	- 0.74	VPG
ST	- 0.68	ITRI
SEPJF	- 0.66	ESE
VPG	- 0.66	ITRI

Risk-Adjusted Indicators

There is a big difference between Mesa Stock performing well and Mesa Laboratories 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 Mesa Laboratories' 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
NOVT	1.39	(0.26)	0.00	(0.05)	0.00	0.00	2.84	(2.48)	13.09
ITRI	1.43	0.16	0.09	0.23	1.60	(1.56)	3.35	(2.59)	10.19
FTV	1.01	0.01	0.02	0.09	1.13	(1.09)	2.32	(1.69)	6.53
VPG	1.77	(0.47)	0.00	(0.28)	0.00	0.00	4.07	(3.47)	11.08
COHR	2.33	0.30	0.12	0.24	2.73	(2.39)	6.27	(4.88)	14.98
ESE	1.14	0.20	0.17	0.21	1.10	(1.27)	3.07	(1.57)	11.48
ST	1.47	(0.39)	0.00	(0.18)	0.00	0.00	2.75	(2.96)	10.34
SEPJF	1.97	(0.23)	0.00	(0.75)	0.00	0.00	4.78	(4.97)	12.46
FCUV	6.14	0.79	0.07	(2.32)	7.02	(9.22)	13.33	(12.82)	72.41
BMI	1.32	(0.02)	0.02	0.07	1.71	(1.45)	2.59	(2.40)	10.23

Mesa Laboratories Corporate Management

Peter Dansky	Pres Genomics	Profile
Brian Archbold	Senior Improvement	Profile
Bryan Leo	VP Operations	Profile
Garrett Krushefski	VP Operations	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC