Mueller Water Correlations

MWA Stock

USD 24.97 0.15 0.60%

The current 90-days correlation between Mueller Water Products and Enerpac Tool Group is 0.59 (i.e., Very weak diversification). The correlation of Mueller Water 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.

Mueller Water Correlation With Market

Poor diversification

The correlation between Mueller Water Products and DJI is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mueller Water Products 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 Mueller Water Products. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in housing.

Moving together with Mueller Stock

0.8	B	Barnes Group	Pair Corr
0.66	BW	Babcock Wilcox Enter	Pair Corr
0.93	CR	Crane Company	Pair Corr
0.88	IR	Ingersoll Rand Sell-off Trend	Pair Corr
0.95	PH	Parker Hannifin	Pair Corr
0.93	EPAC	Enerpac Tool Group	Pair Corr
0.79	FELE	Franklin Electric	Pair Corr
0.86	AME	Ametek Inc	Pair Corr
0.95	CMI	Cummins	Pair Corr
0.87	DCI	Donaldson Earnings Call This Week	Pair Corr
0.89	DOV	Dover	Pair Corr
0.96	EMR	Emerson Electric	Pair Corr
0.9	ETN	Eaton PLC	Pair Corr
0.96	FLS	Flowserve	Pair Corr
0.81	GGG	Graco Inc	Pair Corr
0.83	GHM	Graham	Pair Corr
0.87	GRC	Gorman Rupp	Pair Corr
0.9	IEX	IDEX	Pair Corr
0.84	ITT	ITT Inc	Pair Corr
0.89	ITW	Illinois Tool Works	Pair Corr
0.81	JBT	John Bean Technologies	Pair Corr
0.89	KAI	Kadant Inc	Pair Corr
0.85	MIR	Mirion Technologies	Pair Corr
0.85	XMTR	Xometry	Pair Corr
0.81	NNE	Nano Nuclear Energy Trending	Pair Corr
0.65	NPO	Enpro Industries	Pair Corr
0.86	PNR	Pentair PLC	Pair Corr
0.85	ROK	Rockwell Automation	Pair Corr
0.77	RRX	Regal Beloit	Pair Corr
0.87	SMR	Nuscale Power Corp Buyout Trend	Pair Corr

Moving against Mueller Stock

0.66	CVV	CVD Equipment	Pair Corr
0.65	RR	Richtech Robotics Class	Pair Corr
0.56	CYD	China Yuchai Interna	Pair Corr
0.46	AOS	Smith AO	Pair Corr
0.44	TNC	Tennant Company	Pair Corr

Related Correlations Analysis

	EPAC	LXFR	JBT	CSWI	ITT	HURC	CYD	OFLX	NPO	FELE
EPAC		0.89	0.89	0.87	0.74	0.77	-0.53	0.84	0.49	0.67	EPAC
LXFR	0.89		0.87	0.87	0.79	0.85	-0.33	0.85	0.41	0.55	LXFR
JBT	0.89	0.87		0.75	0.65	0.79	-0.47	0.71	0.29	0.45	JBT
CSWI	0.87	0.87	0.75		0.94	0.84	-0.27	0.77	0.61	0.79	CSWI
ITT	0.74	0.79	0.65	0.94		0.8	-0.15	0.69	0.68	0.83	ITT
HURC	0.77	0.85	0.79	0.84	0.8		-0.1	0.65	0.31	0.51	HURC
CYD	-0.53	-0.33	-0.47	-0.27	-0.15	-0.1		-0.23	-0.43	-0.31	CYD
OFLX	0.84	0.85	0.71	0.77	0.69	0.65	-0.23		0.42	0.55	OFLX
NPO	0.49	0.41	0.29	0.61	0.68	0.31	-0.43	0.42		0.82	NPO
FELE	0.67	0.55	0.45	0.79	0.83	0.51	-0.31	0.55	0.82		FELE
	EPAC	LXFR	JBT	CSWI	ITT	HURC	CYD	OFLX	NPO	FELE

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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

ITT	+ 0.94	CSWI
LXFR	+ 0.89	EPAC
JBT	+ 0.89	EPAC
CSWI	+ 0.87	EPAC
JBT	+ 0.87	LXFR
CSWI	+ 0.87	LXFR

High negative correlations

CYD	- 0.53	EPAC
CYD	- 0.47	JBT
NPO	- 0.43	CYD
CYD	- 0.33	LXFR
FELE	- 0.31	CYD
CYD	- 0.27	CSWI

Risk-Adjusted Indicators

There is a big difference between Mueller Stock performing well and Mueller Water 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 Mueller Water'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
EPAC	1.15	0.14	0.14	0.18	1.06	(1.35)	2.84	(1.91)	12.71
LXFR	1.85	0.42	0.23	0.49	1.49	(2.40)	3.72	(2.67)	16.55
JBT	1.85	0.40	0.20	0.57	1.50	(2.06)	3.84	(2.61)	21.44
CSWI	1.66	0.27	0.16	0.20	1.95	(1.92)	4.01	(2.40)	14.23
ITT	1.15	0.07	0.09	0.13	1.17	(1.32)	2.61	(1.53)	9.06
HURC	1.72	0.30	0.14	0.67	1.54	(1.98)	4.27	(3.00)	18.87
CYD	1.34	(0.18)	0.00	0.85	0.00	0.00	2.65	(3.34)	10.93
OFLX	1.60	(0.03)	0.02	0.07	1.72	(1.78)	3.18	(2.69)	11.00
NPO	1.46	0.03	0.07	0.10	1.74	(1.55)	3.40	(2.30)	13.16
FELE	1.16	(0.06)	0.00	0.05	1.46	(1.34)	2.34	(1.54)	11.41

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