Stantec Correlations

STN Stock

USD 99.35 0.97 0.99%

The current 90-days correlation between Stantec and Sterling Construction is -0.05 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Stantec moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Stantec moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Stantec Correlation With Market

Poor diversification

The correlation between Stantec and DJI is 0.66 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Stantec and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Stantec Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Stantec. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

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

Moving together with Stantec Stock

0.76	603060	China Building Material	Pair Corr
0.78	603357	Anhui Transport Cons	Pair Corr
0.77	RCMT	RCM Technologies	Pair Corr
0.62	LPG	Dorian LPG	Pair Corr
0.65	JAKK	JAKKS Pacific	Pair Corr

Moving against Stantec Stock

0.87	RHLD	Resolute Holdings Symbol Change	Pair Corr
0.71	MG	Mistras Group	Pair Corr
0.61	PNGZF	Paringa Resources	Pair Corr
0.55	WLDN	Willdan Group	Pair Corr
0.55	ACR-PC	ACRES Commercial Realty	Pair Corr
0.53	SANM	Sanmina	Pair Corr
0.45	DQ	Daqo New Energy	Pair Corr
0.39	GLUC	Glucose Health	Pair Corr
0.82	FYBR	Frontier Communications	Pair Corr
0.8	WSFS	WSFS Financial	Pair Corr
0.75	WEICF	Weichai Power	Pair Corr
0.71	NMIH	NMI Holdings	Pair Corr
0.67	SMEGF	Siemens Energy AG	Pair Corr
0.65	ATI	Allegheny Technologies	Pair Corr
0.63	ACN	Accenture plc	Pair Corr
0.62	ACLLF	Atco	Pair Corr
0.62	TLSNY	Telia Company	Pair Corr
0.58	F	Ford Motor	Pair Corr
0.57	BOF	BranchOut Food Common	Pair Corr
0.56	EGBN	Eagle Bancorp Earnings Call This Week	Pair Corr
0.55	MIELF	Mitsubishi Electric	Pair Corr
0.41	JACK	Jack In	Pair Corr
0.37	BHKLY	BOC Hong Kong	Pair Corr
0.32	ASXSF	Elysee Development Corp	Pair Corr

Related Correlations Analysis

	STRL	BLD	BLDR	HII	TTEK	LECO	MAS	ERJ	WCC	IEX
STRL		-0.22	0.28	-0.54	-0.63	-0.47	-0.08	-0.59	-0.34	-0.59	STRL
BLD	-0.22		0.65	0.42	0.32	0.57	0.74	0.47	0.17	0.41	BLD
BLDR	0.28	0.65		-0.1	-0.11	0.29	0.84	0.1	-0.43	-0.09	BLDR
HII	-0.54	0.42	-0.1		0.49	0.61	0.2	0.71	0.65	0.84	HII
TTEK	-0.63	0.32	-0.11	0.49		0.31	0.07	0.64	0.37	0.41	TTEK
LECO	-0.47	0.57	0.29	0.61	0.31		0.62	0.53	0.23	0.83	LECO
MAS	-0.08	0.74	0.84	0.2	0.07	0.62		0.29	-0.32	0.26	MAS
ERJ	-0.59	0.47	0.1	0.71	0.64	0.53	0.29		0.42	0.6	ERJ
WCC	-0.34	0.17	-0.43	0.65	0.37	0.23	-0.32	0.42		0.65	WCC
IEX	-0.59	0.41	-0.09	0.84	0.41	0.83	0.26	0.6	0.65		IEX
	STRL	BLD	BLDR	HII	TTEK	LECO	MAS	ERJ	WCC	IEX

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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

MAS	+ 0.84	BLDR
IEX	+ 0.84	HII
IEX	+ 0.83	LECO
MAS	+ 0.74	BLD
ERJ	+ 0.71	HII
BLDR	+ 0.65	BLD

High negative correlations

TTEK	- 0.63	STRL
IEX	- 0.59	STRL
ERJ	- 0.59	STRL
HII	- 0.54	STRL
LECO	- 0.47	STRL
WCC	- 0.43	BLDR

Risk-Adjusted Indicators

There is a big difference between Stantec Stock performing well and Stantec 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 Stantec'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
STRL	3.09	(0.12)	0.00	(0.15)	0.00	0.00	6.61	(7.45)	21.66
BLD	1.74	0.03	0.05	0.12	1.87	(1.81)	4.50	(3.27)	10.98
BLDR	2.16	(0.16)	(0.01)	0.04	2.07	(3.06)	6.11	(3.40)	13.98
HII	1.67	0.46	0.29	0.46	1.20	(1.95)	4.34	(2.56)	10.50
TTEK	1.59	0.00	0.01	0.00	1.77	(2.02)	3.80	(3.21)	21.35
LECO	1.17	0.08	0.00	0.51	1.51	(1.22)	2.22	(2.84)	6.56
MAS	1.28	(0.02)	0.01	0.10	1.44	(1.45)	3.51	(2.16)	7.94
ERJ	1.53	0.16	0.04	1.07	1.72	(1.77)	4.02	(2.78)	10.26
WCC	1.83	0.25	0.16	0.25	1.91	(2.07)	3.54	(3.42)	16.49
IEX	0.95	0.17	0.06	1.19	0.89	(1.08)	2.35	(1.79)	6.53

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