MYR Correlations

MYRG Stock

USD 274.01 4.99 1.79%

The current 90-days correlation between MYR Group and Argan Inc is 0.53 (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

Poor diversification

The correlation between MYR Group and DJI is 0.76 (i.e., Poor 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 real.

Moving together with MYR Stock

0.92	1PM	Primoris Services	Pair Corr
0.94	EM4	EMCOR Group Earnings Call Tomorrow	Pair Corr
0.75	GNP	Genusplus Group	Pair Corr
0.9	OBA	Obayashi	Pair Corr
0.61	RNWH	Renew Holdings plc	Pair Corr
0.89	OCI1	ACS Actividades de	Pair Corr
0.88	OCI	ACS ADE CADR Split	Pair Corr
0.73	NYVC	CH Karnchang Public	Pair Corr
0.7	7HL	Hill Smith Holdings	Pair Corr
0.75	AGX	Argan Inc	Pair Corr
0.9	T5R	Tcnicas Reunidas Earnings Call This Week	Pair Corr
0.64	FRW	Martifer SGPS SA	Pair Corr
0.75	ECG	Everus Construction Upward Rally	Pair Corr
0.98	EME	EMCOR Group	Pair Corr
0.9	FER	Ferrovial SE	Pair Corr
0.88	GVA	Granite Construction	Pair Corr

Moving against MYR Stock

0.89	WAA	WAESTBYGG GRUPPEN	Pair Corr
0.81	NYVF	Italian-Thai Development Earnings Call Tomorrow	Pair Corr
0.74	AB9	ABO Wind AG	Pair Corr
0.47	ACM	Aecom Technology	Pair Corr
0.4	YIT	YIT Oyj	Pair Corr
0.71	FGL	Founder Group Limited	Pair Corr

Related Correlations Analysis

	AGX	TPC	GVA	BRC	HAYW	EXPO	CAAP	VSEC	GFF	ECG
AGX		0.7	0.54	0.69	0.22	-0.34	0.6	0.61	0.64	0.75	AGX
TPC	0.7		0.43	0.64	0.1	-0.14	0.88	0.54	0.89	0.42	TPC
GVA	0.54	0.43		0.88	0.3	-0.01	0.39	0.81	0.62	0.65	GVA
BRC	0.69	0.64	0.88		0.41	-0.12	0.58	0.74	0.82	0.65	BRC
HAYW	0.22	0.1	0.3	0.41		0.36	0.08	0.45	0.42	0.11	HAYW
EXPO	-0.34	-0.14	-0.01	-0.12	0.36		-0.06	0.05	-0.01	-0.17	EXPO
CAAP	0.6	0.88	0.39	0.58	0.08	-0.06		0.52	0.71	0.34	CAAP
VSEC	0.61	0.54	0.81	0.74	0.45	0.05	0.52		0.63	0.52	VSEC
GFF	0.64	0.89	0.62	0.82	0.42	-0.01	0.71	0.63		0.43	GFF
ECG	0.75	0.42	0.65	0.65	0.11	-0.17	0.34	0.52	0.43		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

GFF	+ 0.89	TPC
CAAP	+ 0.88	TPC
BRC	+ 0.88	GVA
GFF	+ 0.82	BRC
VSEC	+ 0.81	GVA
ECG	+ 0.75	AGX

High negative correlations

EXPO	- 0.34	AGX
ECG	- 0.17	EXPO
EXPO	- 0.14	TPC
EXPO	- 0.12	BRC
CAAP	- 0.06	EXPO
GFF	- 0.01	EXPO

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	3.22	0.38	0.08	1.59	3.69	(3.63)	7.30	(7.23)	23.61
TPC	1.72	0.29	0.13	0.37	1.89	(1.85)	4.29	(3.93)	9.53
GVA	1.06	0.33	0.28	0.44	0.78	(1.30)	2.88	(1.77)	6.50
BRC	0.97	0.25	0.13	0.97	1.14	(1.07)	2.35	(2.18)	6.88
HAYW	1.19	(0.14)	(0.07)	(0.01)	1.40	(1.63)	3.15	(2.44)	8.28
EXPO	1.62	(0.20)	0.00	(0.01)	0.00	0.00	2.89	(2.80)	19.05
CAAP	1.49	0.16	0.08	0.28	1.61	(1.63)	3.12	(2.51)	10.88
VSEC	2.39	0.27	0.11	0.26	2.84	(2.84)	5.27	(3.25)	21.74
GFF	1.49	0.13	0.09	0.23	1.24	(1.94)	4.26	(2.29)	8.65
ECG	2.90	0.55	0.17	0.38	3.22	(3.28)	5.15	(4.97)	18.20

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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