MSA Safety Correlations

MSA Stock

USD 202.14 0.20 0.1%

The current 90-days correlation between MSA Safety and Resideo Technologies is 0.36 (i.e., Weak 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

Very poor diversification

The correlation between MSA Safety and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MSA Safety and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with MSA Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in MSA Safety. 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 information on how to trade MSA Stock refer to our How to Trade MSA Stock guide.

Moving together with MSA Stock

0.84	NL	NL Industries	Pair Corr
0.87	DRVN	Driven Brands Holdings Earnings Call Tomorrow	Pair Corr
0.71	AZG2	Acacia Research	Pair Corr
0.7	GDI	GDI Integrated	Pair Corr
0.88	INPST	Inpost SA	Pair Corr
0.83	VSEC	VSE Corporation	Pair Corr
0.65	JRSA	SSH GROUP LTD	Pair Corr
0.81	ACU	Acme United	Pair Corr
0.87	DXT	Dexterra Group	Pair Corr
0.9	BCO	Brinks Company Earnings Call This Week	Pair Corr
0.94	BRC	Brady Earnings Call Tomorrow	Pair Corr
0.68	CIX	CompX International	Pair Corr
0.88	DLX	Deluxe	Pair Corr
0.94	EBF	Ennis Inc	Pair Corr
0.88	6690	INPOST SA UNSPADR12	Pair Corr
0.95	HNI	HNI Corp Earnings Call Tomorrow	Pair Corr
0.72	RBA	RB Global Earnings Call Tomorrow	Pair Corr
0.76	77Q	KNIGHTS GROUP HOL	Pair Corr
0.87	UNF	Unifirst	Pair Corr
0.75	RTO1	Rentokil Initial plc	Pair Corr

Moving against MSA Stock

0.74	TEP	Teleperformance SE	Pair Corr
0.7	BTM	Bitcoin Depot	Pair Corr
0.61	EDEN	Edenred SA Earnings Call This Week	Pair Corr
0.55	WOSB	Wolters Kluwers Nv Earnings Call This Week	Pair Corr
0.48	VIRC	Virco Manufacturing	Pair Corr
0.43	OYM1	Odyssey Marine Explo	Pair Corr
0.33	KBL	K Bro Linen	Pair Corr
0.89	WKL	Wolters Kluwer NV Earnings Call This Week	Pair Corr
0.82	P8X	PAX Global Technology	Pair Corr
0.78	N09	NOVUS HOLDINGS LTD	Pair Corr
0.77	PHQ	Photo Me International Earnings Call Tomorrow	Pair Corr
0.59	APC	Apple Inc	Pair Corr
0.56	T9CA	TEAM INC DL	Pair Corr
0.49	YIBO	Planet Image Interna	Pair Corr
0.44	FUO	Dolby Laboratories	Pair Corr

Related Correlations Analysis

	REZI	ADT	FBIN	MIDD	FCN	GATX	KEX	BCO	MOG-A	GTES
REZI		0.32	0.73	0.83	0.59	0.74	0.61	0.73	0.69	0.34	REZI
ADT	0.32		0.1	0.04	0.42	-0.13	0.03	-0.07	-0.21	-0.37	ADT
FBIN	0.73	0.1		0.71	0.51	0.81	0.8	0.85	0.85	0.63	FBIN
MIDD	0.83	0.04	0.71		0.58	0.91	0.63	0.88	0.83	0.56	MIDD
FCN	0.59	0.42	0.51	0.58		0.54	0.56	0.52	0.46	-0.03	FCN
GATX	0.74	-0.13	0.81	0.91	0.54		0.79	0.97	0.97	0.73	GATX
KEX	0.61	0.03	0.8	0.63	0.56	0.79		0.78	0.79	0.53	KEX
BCO	0.73	-0.07	0.85	0.88	0.52	0.97	0.78		0.96	0.75	BCO
MOG-A	0.69	-0.21	0.85	0.83	0.46	0.97	0.79	0.96		0.79	MOG-A
GTES	0.34	-0.37	0.63	0.56	-0.03	0.73	0.53	0.75	0.79		GTES
	REZI	ADT	FBIN	MIDD	FCN	GATX	KEX	BCO	MOG-A	GTES

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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

BCO	+ 0.97	GATX
MOG-A	+ 0.97	GATX
MOG-A	+ 0.96	BCO
GATX	+ 0.91	MIDD
BCO	+ 0.88	MIDD
BCO	+ 0.85	FBIN

High negative correlations

GTES	- 0.37	ADT
MOG-A	- 0.21	ADT
GATX	- 0.13	ADT
BCO	- 0.07	ADT
GTES	- 0.03	FCN

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
REZI	1.99	0.21	0.10	0.15	2.32	(2.28)	4.79	(4.14)	14.62
ADT	1.02	(0.10)	0.00	(0.06)	0.00	0.00	1.73	(2.68)	7.79
FBIN	2.24	0.09	0.04	0.09	3.33	(2.56)	5.89	(3.48)	25.45
MIDD	1.52	0.38	0.26	0.30	1.19	(1.88)	3.85	(2.24)	12.68
FCN	1.21	(0.05)	0.00	(0.05)	0.00	0.00	2.48	(2.59)	14.70
GATX	0.81	0.30	0.30	0.54	0.56	(0.96)	1.96	(1.23)	4.89
KEX	1.17	0.17	0.11	0.22	1.28	(1.38)	3.06	(2.27)	9.34
BCO	1.14	0.17	0.14	0.19	1.10	(1.33)	2.91	(2.28)	7.05
MOG-A	1.39	0.68	0.56	0.67	0.44	(1.74)	3.81	(1.61)	11.04
GTES	1.69	0.26	0.17	0.21	1.46	(2.11)	3.74	(2.29)	9.05

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