MYR Correlations

MYRG Stock

USD 263.65 6.24 2.42%

The current 90-days correlation between MYR Group and Argan Inc is 0.51 (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 0.63 (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 poverty.

Moving together with MYR Stock

0.75	EME	EMCOR Group	Pair Corr
0.9	FIX	Comfort Systems USA	Pair Corr
0.72	JFB	JFB Construction Holdings	Pair Corr
0.71	BWA	BorgWarner Earnings Call This Week	Pair Corr
0.82	CDLR	Cadeler AS	Pair Corr
0.73	DIOD	Diodes Incorporated Earnings Call This Week	Pair Corr
0.65	CGIFF	Chemtrade Logistics	Pair Corr
0.76	WFG	West Fraser Timber	Pair Corr
0.68	IVR	Invesco Mortgage Capital	Pair Corr
0.67	MNMD	Mind Medicine Symbol Change	Pair Corr
0.74	CDEVY	City Developments	Pair Corr
0.85	CW	Curtiss Wright	Pair Corr

Moving against MYR Stock

0.66	PBCRY	Bank Central Asia	Pair Corr
0.71	50077LAD8	KRAFT HEINZ FOODS	Pair Corr
0.4	ENSV	Enservco	Pair Corr

Related Correlations Analysis

	AGX	TPC	GVA	BRC	HAYW	EXPO	CAAP	VSEC	GFF	ECG
AGX		0.17	0.11	0.33	0.13	0.27	0.29	0.29	0.18	0.19	AGX
TPC	0.17		0.8	0.87	0.53	0.6	0.8	0.83	0.89	0.12	TPC
GVA	0.11	0.8		0.88	0.22	0.65	0.87	0.7	0.81	-0.18	GVA
BRC	0.33	0.87	0.88		0.36	0.68	0.85	0.77	0.9	-0.1	BRC
HAYW	0.13	0.53	0.22	0.36		0.32	0.2	0.52	0.6	0.29	HAYW
EXPO	0.27	0.6	0.65	0.68	0.32		0.68	0.48	0.66	0.09	EXPO
CAAP	0.29	0.8	0.87	0.85	0.2	0.68		0.61	0.71	0.0	CAAP
VSEC	0.29	0.83	0.7	0.77	0.52	0.48	0.61		0.85	0.03	VSEC
GFF	0.18	0.89	0.81	0.9	0.6	0.66	0.71	0.85		0.03	GFF
ECG	0.19	0.12	-0.18	-0.1	0.29	0.09	0.0	0.03	0.03		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	+ 0.9	BRC
GFF	+ 0.89	TPC
BRC	+ 0.88	GVA
BRC	+ 0.87	TPC
CAAP	+ 0.87	GVA
CAAP	+ 0.85	BRC

High negative correlations

ECG	- 0.18	GVA
ECG	- 0.1	BRC
ECG	- 0.0	CAAP

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	3.28	0.33	0.08	0.29	3.80	(3.65)	7.17	(7.35)	22.90
TPC	1.79	0.20	0.09	0.20	2.13	(1.94)	3.69	(4.24)	9.98
GVA	0.94	0.22	0.22	0.28	0.76	(1.17)	2.36	(1.13)	5.83
BRC	0.92	0.15	0.12	0.28	0.94	(1.06)	2.35	(1.68)	5.12
HAYW	1.15	0.03	0.03	0.08	0.98	(1.82)	2.91	(1.90)	14.48
EXPO	1.29	0.09	0.07	0.13	1.24	(1.53)	2.96	(1.92)	9.28
CAAP	1.44	0.41	0.30	0.47	0.92	(1.78)	4.22	(2.24)	7.74
VSEC	2.23	0.03	0.02	0.07	2.86	(2.56)	4.86	(3.25)	12.12
GFF	1.39	0.02	0.04	0.06	1.31	(1.80)	4.26	(2.55)	8.65
ECG	2.38	(0.06)	0.00	0.02	3.48	(2.50)	5.15	(4.97)	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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