Construction Partners Correlations

ROAD Stock

USD 136.32 1.07 0.79%

The current 90-days correlation between Construction Partners and MYR Group is 0.32 (i.e., Weak diversification). The correlation of Construction Partners 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.

Construction Partners Correlation With Market

Poor diversification

The correlation between Construction Partners and DJI is 0.65 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Construction Partners and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Construction Stock

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

For information on how to trade Construction Stock refer to our How to Trade Construction Stock guide.

Moving together with Construction Stock

0.78	1PM	Primoris Services	Pair Corr
0.91	DY	Dycom Industries Earnings Call Today	Pair Corr
0.87	EM4	EMCOR Group	Pair Corr
0.92	OBA	Obayashi	Pair Corr
0.87	OCI1	ACS Actividades de	Pair Corr
0.95	EN	Bouygues SA	Pair Corr
0.61	2E5	China Energy Engineering	Pair Corr
0.85	OCI	ACS ADE CADR Split	Pair Corr
0.85	NYVC	CH Karnchang Public	Pair Corr
0.74	FBGL	FBS Global Limited	Pair Corr
0.77	ACA	Arcosa Inc	Pair Corr
0.78	AGX	Argan Inc	Pair Corr
0.87	APG	Api Group Corp	Pair Corr
0.85	T5R	Tcnicas Reunidas	Pair Corr
0.78	ECG	Everus Construction	Pair Corr
0.86	EME	EMCOR Group	Pair Corr
0.9	FER	Ferrovial SE	Pair Corr
0.91	FIX	Comfort Systems USA	Pair Corr
0.8	FLR	Fluor	Pair Corr
0.92	GVA	Granite Construction	Pair Corr
0.66	BAMNB	Koninklijke BAM Groep	Pair Corr

Moving against Construction Stock

0.86	WAA	WAESTBYGG GRUPPEN	Pair Corr
0.8	YIT	YIT Oyj	Pair Corr
0.76	AB9	ABO Wind AG	Pair Corr
0.64	NYVF	Italian-Thai Development	Pair Corr
0.42	ACM	Aecom Technology	Pair Corr
0.66	FGL	Founder Group Limited	Pair Corr
0.44	MSW	Ming Shing Group	Pair Corr

Related Correlations Analysis

	MYRG	GVA	TPC	STRL	EME	FIX	PRIM	MTRX	GLDD	KBR
MYRG		0.88	0.91	0.95	0.97	0.97	0.95	-0.08	0.95	-0.05	MYRG
GVA	0.88		0.85	0.82	0.89	0.9	0.83	-0.19	0.9	-0.13	GVA
TPC	0.91	0.85		0.85	0.95	0.86	0.92	0.0	0.87	0.01	TPC
STRL	0.95	0.82	0.85		0.93	0.97	0.89	-0.25	0.93	-0.17	STRL
EME	0.97	0.89	0.95	0.93		0.94	0.97	-0.08	0.94	-0.04	EME
FIX	0.97	0.9	0.86	0.97	0.94		0.89	-0.21	0.95	-0.1	FIX
PRIM	0.95	0.83	0.92	0.89	0.97	0.89		0.04	0.93	0.06	PRIM
MTRX	-0.08	-0.19	0.0	-0.25	-0.08	-0.21	0.04		-0.1	0.48	MTRX
GLDD	0.95	0.9	0.87	0.93	0.94	0.95	0.93	-0.1		-0.07	GLDD
KBR	-0.05	-0.13	0.01	-0.17	-0.04	-0.1	0.06	0.48	-0.07		KBR
	MYRG	GVA	TPC	STRL	EME	FIX	PRIM	MTRX	GLDD	KBR

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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

EME	+ 0.97	MYRG
FIX	+ 0.97	MYRG
FIX	+ 0.97	STRL
PRIM	+ 0.97	EME
STRL	+ 0.95	MYRG
PRIM	+ 0.95	MYRG

High negative correlations

MTRX	- 0.25	STRL
MTRX	- 0.21	FIX
MTRX	- 0.19	GVA
KBR	- 0.17	STRL
KBR	- 0.13	GVA
GLDD	- 0.1	MTRX

Risk-Adjusted Indicators

There is a big difference between Construction Stock performing well and Construction Partners 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 Construction Partners' 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
MYRG	1.99	0.31	0.14	0.30	2.09	(2.22)	3.96	(3.48)	12.17
GVA	1.08	0.30	0.26	0.33	0.86	(1.30)	2.88	(1.77)	6.50
TPC	2.06	0.08	0.03	0.08	3.63	(1.94)	4.29	(4.43)	20.95
STRL	2.76	0.33	0.09	0.22	3.66	(2.92)	5.34	(6.88)	14.73
EME	1.69	0.27	0.11	0.27	2.12	(1.68)	3.78	(3.49)	13.44
FIX	2.40	0.56	0.18	0.46	2.64	(2.57)	5.83	(5.56)	14.99
PRIM	2.20	0.24	0.08	0.22	2.79	(2.31)	5.21	(4.31)	16.78
MTRX	1.99	(0.04)	(0.01)	0.01	3.76	(1.85)	3.48	(4.01)	21.48
GLDD	1.56	0.46	0.28	0.49	1.20	(1.87)	4.63	(3.10)	16.08
KBR	1.44	(0.02)	0.00	0.02	2.00	(1.62)	3.30	(2.69)	13.34

Construction Partners Corporate Management

Gregory Hoffman	Chief Officer	Profile
Todd Andrews	Chief Accounting Officer	Profile
Ned III	Executive Board	Profile
Will Pedersen	I Riverworks	Profile
Robert Baugnon	Senior Administration	Profile

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