MSA Safety Correlations

MSA Stock

USD 176.95 3.25 1.80%

The current 90-days correlation between MSA Safety and Resideo Technologies is -0.01 (i.e., Good 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

Poor diversification

The correlation between MSA Safety and DJI is 0.75 (i.e., 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 population.

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

Moving together with MSA Stock

0.75	DRVN	Driven Brands Holdings	Pair Corr
0.9	HNI	HNI Corp	Pair Corr
0.88	RBA	RB Global	Pair Corr
0.65	603187	Qingdao Hiron Commercial	Pair Corr
0.89	TILE	Interface	Pair Corr
0.75	PBMRF	PT Bumi Resources	Pair Corr
0.79	AUSDF	Perenti Global	Pair Corr
0.86	RTO	Rentokil Initial PLC	Pair Corr
0.81	RYCEY	Rolls Royce Holdings	Pair Corr
0.76	ACLS	Axcelis Technologies	Pair Corr
0.73	00842XAA7	US00842XAA72	Pair Corr
0.76	WING	Wingstop	Pair Corr
0.86	INPOY	InPost SA	Pair Corr
0.75	RAIL	Freightcar America	Pair Corr
0.73	VZLA	Vizsla Resources Corp	Pair Corr
0.62	CMTNF	Cullinan Metals Corp	Pair Corr

Moving against MSA Stock

0.5	CMWCF	Cromwell Property	Pair Corr
0.36	PIFYF	Pine Cliff Energy	Pair Corr
0.36	GES	Guess Inc	Pair Corr
0.31	PXMD	PaxMedica Common Stock	Pair Corr

Related Correlations Analysis

	REZI	ADT	FBIN	MIDD	FCN	GATX	KEX	BCO	MOG-A	GTES
REZI		0.76	0.33	0.22	0.09	0.08	-0.35	0.12	0.04	0.5	REZI
ADT	0.76		0.11	0.05	-0.17	-0.09	-0.5	-0.02	-0.18	0.64	ADT
FBIN	0.33	0.11		0.64	0.7	0.8	0.64	0.82	0.85	0.26	FBIN
MIDD	0.22	0.05	0.64		0.8	0.89	0.49	0.87	0.82	0.08	MIDD
FCN	0.09	-0.17	0.7	0.8		0.87	0.73	0.83	0.87	-0.13	FCN
GATX	0.08	-0.09	0.8	0.89	0.87		0.7	0.94	0.96	0.09	GATX
KEX	-0.35	-0.5	0.64	0.49	0.73	0.7		0.68	0.79	-0.37	KEX
BCO	0.12	-0.02	0.82	0.87	0.83	0.94	0.68		0.93	0.17	BCO
MOG-A	0.04	-0.18	0.85	0.82	0.87	0.96	0.79	0.93		0.03	MOG-A
GTES	0.5	0.64	0.26	0.08	-0.13	0.09	-0.37	0.17	0.03		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

MOG-A	+ 0.96	GATX
BCO	+ 0.94	GATX
MOG-A	+ 0.93	BCO
GATX	+ 0.89	MIDD
BCO	+ 0.87	MIDD
GATX	+ 0.87	FCN

High negative correlations

KEX	- 0.5	ADT
GTES	- 0.37	KEX
KEX	- 0.35	REZI
MOG-A	- 0.18	ADT
FCN	- 0.17	ADT
GTES	- 0.13	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	2.18	(0.24)	0.00	(0.51)	0.00	0.00	4.79	(4.26)	28.49
ADT	0.99	(0.20)	0.00	(0.13)	0.00	0.00	1.73	(2.31)	9.78
FBIN	1.83	0.14	0.04	0.83	1.78	(2.17)	5.20	(3.03)	10.57
MIDD	1.52	0.07	0.06	0.11	1.58	(1.85)	3.85	(3.10)	12.68
FCN	1.05	0.19	0.15	0.33	0.85	(1.21)	2.69	(1.82)	8.69
GATX	0.90	0.11	0.10	0.22	0.82	(1.06)	1.96	(1.68)	4.30
KEX	1.28	0.59	0.54	1.79	0.19	(1.60)	3.74	(1.42)	16.66
BCO	1.24	0.07	0.06	0.13	1.32	(1.44)	3.11	(2.28)	10.50
MOG-A	1.35	0.44	0.37	0.38	0.83	(1.71)	3.68	(1.72)	11.04
GTES	1.62	(0.27)	0.00	(0.09)	0.00	0.00	2.97	(3.08)	15.34

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