MYR Correlations

MYRG Stock

USD 226.72 8.22 3.76%

The current 90-days correlation between MYR Group and Argan Inc is 0.52 (i.e., Very weak diversification). The correlation of MYR 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.

MYR Correlation With Market

Very weak diversification

The correlation between MYR Group and DJI is 0.44 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MYR Group and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with MYR Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in MYR Group. 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.

Moving together with MYR Stock

0.75	ECG	Everus Construction	Pair Corr
0.66	FER	Ferrovial SE Sell-off Trend	Pair Corr
0.76	ORN	Orion Group Holdings	Pair Corr
0.75	000809	Tieling Newcity Inve	Pair Corr
0.61	HUHU	HUHUTECH International	Pair Corr
0.76	600496	Changjiang Jinggong Steel	Pair Corr
0.73	NWPX	Northwest Pipe	Pair Corr
0.72	600853	Longjian Road Bridge	Pair Corr

Moving against MYR Stock

0.34	600170	Shanghai Construction	Pair Corr
0.32	SOL	Emeren Group	Pair Corr
0.59	ROAD	Construction Partners	Pair Corr
0.55	SPAI	Safe Pro Group	Pair Corr
0.49	300732	Henan Provincial Com	Pair Corr
0.42	600491	Long Yuan Construction	Pair Corr
0.42	601618	Metallurgical	Pair Corr
0.41	ONEG	OneConstruction Group	Pair Corr
0.38	AMRC	Ameresco	Pair Corr

Related Correlations Analysis

	AGX	TPC	GVA	BRC	HAYW	EXPO	CAAP	VSEC	GFF	ECG
AGX		-0.01	0.02	0.31	0.43	0.58	0.7	0.37	-0.5	0.39	AGX
TPC	-0.01		0.49	0.58	0.5	0.51	0.51	0.53	0.58	0.33	TPC
GVA	0.02	0.49		0.69	0.03	0.41	0.51	0.09	0.5	-0.13	GVA
BRC	0.31	0.58	0.69		0.3	0.68	0.62	0.46	0.35	0.03	BRC
HAYW	0.43	0.5	0.03	0.3		0.48	0.52	0.62	0.12	0.47	HAYW
EXPO	0.58	0.51	0.41	0.68	0.48		0.78	0.39	0.06	0.37	EXPO
CAAP	0.7	0.51	0.51	0.62	0.52	0.78		0.47	-0.07	0.36	CAAP
VSEC	0.37	0.53	0.09	0.46	0.62	0.39	0.47		0.08	0.41	VSEC
GFF	-0.5	0.58	0.5	0.35	0.12	0.06	-0.07	0.08		-0.09	GFF
ECG	0.39	0.33	-0.13	0.03	0.47	0.37	0.36	0.41	-0.09		ECG
	AGX	TPC	GVA	BRC	HAYW	EXPO	CAAP	VSEC	GFF	ECG

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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

CAAP	+ 0.78	EXPO
CAAP	+ 0.7	AGX
BRC	+ 0.69	GVA
EXPO	+ 0.68	BRC
CAAP	+ 0.62	BRC
VSEC	+ 0.62	HAYW

High negative correlations

GFF	- 0.5	AGX
ECG	- 0.13	GVA
ECG	- 0.09	GFF
GFF	- 0.07	CAAP
TPC	- 0.01	AGX

Risk-Adjusted Indicators

There is a big difference between MYR Stock performing well and MYR 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 MYR'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
AGX	3.49	0.23	0.08	0.14	4.00	(3.87)	7.40	(7.35)	27.04
TPC	1.91	0.04	0.00	0.22	2.40	(1.92)	4.29	(4.24)	11.99
GVA	0.91	0.07	0.06	0.13	0.96	(1.09)	2.34	(1.74)	5.83
BRC	0.97	(0.02)	(0.03)	0.03	1.24	(1.00)	1.90	(2.19)	5.11
HAYW	1.23	0.00	0.01	0.06	1.14	(1.70)	2.80	(2.18)	14.48
EXPO	1.14	(0.02)	(0.03)	0.03	1.28	(1.25)	2.73	(1.97)	9.28
CAAP	1.52	0.52	0.40	0.42	0.79	(1.94)	3.12	(2.15)	19.75
VSEC	1.89	0.04	0.05	0.08	1.74	(2.46)	4.45	(3.25)	8.52
GFF	1.20	(0.04)	0.00	(0.11)	0.00	0.00	3.23	(2.28)	7.98
ECG	2.77	(0.05)	0.02	0.04	3.86	(2.99)	5.40	(5.73)	20.64

MYR Corporate Management

Joe Anderson	VP Counsel	Profile
Joesph Anderson	VP Counsel	Profile
William JD	Chief VP	Profile
James Barrett	Vice Resources	Profile
D Lamont	ES Co	Profile
Jennifer Harper	VP Treasurer	Profile

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