Primoris Services Correlations

PRIM Stock

USD 124.14 0.11 0.09%

The current 90-days correlation between Primoris Services and IES Holdings is 0.69 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Primoris Services moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Primoris Services moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Primoris Services Correlation With Market

Very weak diversification

The correlation between Primoris Services and DJI is 0.45 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Primoris Services and DJI in the same portfolio, assuming nothing else is changed.

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Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Primoris Services. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

To learn how to invest in Primoris Stock, please use our How to Invest in Primoris Services guide.

Moving together with Primoris Stock

0.73	ENGS	Energys Group Limited	Pair Corr
0.63	603887	Shanghai Chengdi Constr	Pair Corr
0.8	EME	EMCOR Group	Pair Corr
0.67	FLR	Fluor	Pair Corr
0.87	LMB	Limbach Holdings	Pair Corr

Moving against Primoris Stock

0.69	AGX	Argan Inc	Pair Corr
0.66	300506	Shenzhen Minkave Tec	Pair Corr
0.52	APG	Api Group Corp	Pair Corr
0.44	002163	Hainan Development	Pair Corr
0.44	ACA	Arcosa Inc	Pair Corr
0.43	FER	Ferrovial SE	Pair Corr
0.42	DY	Dycom Industries	Pair Corr
0.32	300668	Shenzhen Jiang	Pair Corr
0.32	002431	Palm Landscape Archi	Pair Corr
0.31	002307	Xinjiang Beixin Road	Pair Corr
0.69	002856	Shenzhen Magic Design	Pair Corr
0.58	VBC	Verbrec	Pair Corr
0.57	002047	Shen Zhen Bauing	Pair Corr
0.53	LYL	Lycopodium	Pair Corr
0.53	LTOD	Larsen Toubro Limited	Pair Corr
0.43	300712	Fujian Yongfu Power	Pair Corr
0.42	GLDD	Great Lakes Dredge	Pair Corr
0.39	JFB	JFB Construction Holdings	Pair Corr

Related Correlations Analysis

	IESC	DY	FLR	TTEK	ZWS	AWI	VMI	SSD	AAON	AGCO
IESC		0.6	0.05	-0.02	0.44	-0.16	0.76	0.22	-0.32	0.35	IESC
DY	0.6		-0.55	0.41	0.39	-0.44	0.34	-0.36	-0.67	-0.06	DY
FLR	0.05	-0.55		-0.56	-0.19	0.49	0.32	0.77	0.69	0.31	FLR
TTEK	-0.02	0.41	-0.56		-0.2	-0.38	-0.26	-0.5	-0.36	-0.17	TTEK
ZWS	0.44	0.39	-0.19	-0.2		-0.02	0.54	0.13	-0.27	0.32	ZWS
AWI	-0.16	-0.44	0.49	-0.38	-0.02		0.07	0.55	0.44	0.47	AWI
VMI	0.76	0.34	0.32	-0.26	0.54	0.07		0.54	-0.22	0.39	VMI
SSD	0.22	-0.36	0.77	-0.5	0.13	0.55	0.54		0.42	0.53	SSD
AAON	-0.32	-0.67	0.69	-0.36	-0.27	0.44	-0.22	0.42		0.25	AAON
AGCO	0.35	-0.06	0.31	-0.17	0.32	0.47	0.39	0.53	0.25		AGCO
	IESC	DY	FLR	TTEK	ZWS	AWI	VMI	SSD	AAON	AGCO

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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

SSD	+ 0.77	FLR
VMI	+ 0.76	IESC
AAON	+ 0.69	FLR
DY	+ 0.6	IESC
SSD	+ 0.55	AWI
VMI	+ 0.54	ZWS

High negative correlations

AAON	- 0.67	DY
TTEK	- 0.56	FLR
FLR	- 0.55	DY
SSD	- 0.5	TTEK
AWI	- 0.44	DY
AWI	- 0.38	TTEK

Risk-Adjusted Indicators

There is a big difference between Primoris Stock performing well and Primoris Services 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 Primoris Services' 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
IESC	2.75	(0.11)	0.00	0.02	3.95	(2.84)	5.82	(7.94)	25.84
DY	1.62	0.20	0.11	0.20	1.82	(1.87)	2.84	(3.17)	14.96
FLR	1.97	(0.17)	0.00	(0.02)	0.00	0.00	3.28	(4.67)	13.34
TTEK	1.43	0.06	0.00	(0.23)	1.73	(1.75)	2.15	(3.21)	21.35
ZWS	1.03	(0.05)	(0.04)	0.02	1.22	(1.09)	2.02	(2.36)	6.90
AWI	0.88	(0.04)	0.00	(1.13)	0.00	0.00	1.60	(1.82)	6.07
VMI	1.15	(0.03)	0.00	0.04	1.45	(1.18)	2.45	(2.39)	6.20
SSD	1.21	(0.11)	0.00	(0.05)	0.00	0.00	2.16	(2.15)	9.74
AAON	2.27	(0.43)	0.00	(0.18)	0.00	0.00	4.42	(5.87)	14.22
AGCO	1.23	(0.10)	0.00	(0.03)	0.00	0.00	2.81	(2.38)	10.84

Primoris Services Corporate Executives

Elected by the shareholders, the Primoris Services' board of directors comprises two types of representatives: Primoris Services inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Primoris. The board's role is to monitor Primoris Services' management team and ensure that shareholders' interests are well served. Primoris Services' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Primoris Services' outside directors are responsible for providing unbiased perspectives on the board's policies.

Kenneth CPA

Executive CFO

Profile

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