MYR Correlations

MYRG Stock

USD 272.47 1.54 0.56%

The current 90-days correlation between MYR Group and Argan Inc is -0.2 (i.e., Good 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 0.77 (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

0.91	1PM	Primoris Services	Pair Corr
0.94	DY	Dycom Industries Earnings Call This Week	Pair Corr
0.95	EM4	EMCOR Group	Pair Corr
0.77	GNP	Genusplus Group	Pair Corr
0.9	OBA	Obayashi	Pair Corr
0.9	OCI1	ACS Actividades de	Pair Corr
0.88	EN	Bouygues SA	Pair Corr
0.87	OCI	ACS ADE CADR Split	Pair Corr
0.75	NYVC	CH Karnchang Public	Pair Corr
0.69	FBGL	FBS Global Limited	Pair Corr
0.71	7HL	Hill Smith Holdings	Pair Corr
0.93	ACA	Arcosa Inc	Pair Corr
0.7	AGX	Argan Inc	Pair Corr
0.93	APG	Api Group Corp Earnings Call This Week	Pair Corr
0.92	T5R	Tcnicas Reunidas Earnings Call Today	Pair Corr
0.69	ECG	Everus Construction	Pair Corr
0.98	EME	EMCOR Group	Pair Corr
0.9	FER	Ferrovial SE	Pair Corr
0.97	FIX	Comfort Systems USA	Pair Corr
0.87	FLR	Fluor	Pair Corr
0.88	GVA	Granite Construction	Pair Corr

Moving against MYR Stock

0.91	AB9	ABO Wind AG	Pair Corr
0.89	WAA	WAESTBYGG GRUPPEN	Pair Corr
0.81	NYVF	Italian-Thai Development	Pair Corr
0.51	YIT	YIT Oyj	Pair Corr
0.45	ACM	Aecom Technology	Pair Corr
0.71	FGL	Founder Group Limited	Pair Corr
0.45	MSW	Ming Shing Group	Pair Corr

Related Correlations Analysis

	AGX	TPC	GVA	BRC	HAYW	EXPO	CAAP	VSEC	GFF	ECG
AGX		0.64	0.52	0.67	0.22	-0.33	0.47	0.59	0.52	0.75	AGX
TPC	0.64		0.92	0.92	0.38	-0.01	0.89	0.84	0.9	0.69	TPC
GVA	0.52	0.92		0.88	0.28	-0.03	0.81	0.82	0.87	0.64	GVA
BRC	0.67	0.92	0.88		0.37	-0.13	0.76	0.74	0.94	0.63	BRC
HAYW	0.22	0.38	0.28	0.37		0.2	0.39	0.41	0.53	0.11	HAYW
EXPO	-0.33	-0.01	-0.03	-0.13	0.2		0.1	0.05	0.08	-0.17	EXPO
CAAP	0.47	0.89	0.81	0.76	0.39	0.1		0.73	0.75	0.56	CAAP
VSEC	0.59	0.84	0.82	0.74	0.41	0.05	0.73		0.77	0.53	VSEC
GFF	0.52	0.9	0.87	0.94	0.53	0.08	0.75	0.77		0.52	GFF
ECG	0.75	0.69	0.64	0.63	0.11	-0.17	0.56	0.53	0.52		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	+ 0.94	BRC
GVA	+ 0.92	TPC
BRC	+ 0.92	TPC
GFF	+ 0.9	TPC
CAAP	+ 0.89	TPC
BRC	+ 0.88	GVA

High negative correlations

EXPO	- 0.33	AGX
ECG	- 0.17	EXPO
EXPO	- 0.13	BRC
EXPO	- 0.03	GVA
EXPO	- 0.01	TPC

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	0.46	0.07	(0.95)	3.69	(3.63)	7.30	(7.23)	23.61
TPC	1.78	0.48	0.23	0.48	1.70	(2.01)	4.42	(3.93)	9.98
GVA	1.05	0.33	0.28	0.46	0.79	(1.28)	2.88	(1.77)	6.50
BRC	0.96	0.24	0.12	0.91	1.12	(1.06)	2.35	(2.18)	6.88
HAYW	1.19	0.01	(0.08)	0.05	1.40	(1.63)	3.15	(2.44)	8.28
EXPO	1.63	(0.11)	0.01	0.06	2.06	(1.81)	3.00	(2.80)	19.05
CAAP	1.55	0.28	0.15	0.39	1.42	(1.80)	3.20	(2.51)	10.88
VSEC	2.38	0.35	0.14	0.33	2.81	(2.85)	5.27	(3.02)	21.74
GFF	1.57	0.20	0.19	0.25	1.09	(2.07)	4.99	(2.29)	8.86
ECG	2.90	0.70	0.17	1.83	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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