Zurn Elkay Correlations

ZWS Stock

USD 39.93 0.58 1.47%

The current 90-days correlation between Zurn Elkay Water and Federal Signal is 0.5 (i.e., Very weak diversification). The correlation of Zurn Elkay 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Zurn Elkay Correlation With Market

Poor diversification

The correlation between Zurn Elkay Water 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 Zurn Elkay Water and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Zurn Elkay Water. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in housing.

Moving together with Zurn Stock

0.83	PCT	Purecycle Technologies	Pair Corr
0.96	ATMU	Atmus Filtration Tec	Pair Corr
0.82	PCTTW	PureCycle Technologies	Pair Corr
0.83	PCTTU	Purecycle Technologies	Pair Corr
0.83	B	Barnes Group	Pair Corr
0.66	G	Genpact Limited	Pair Corr
0.86	J	Jacobs Solutions	Pair Corr
0.88	R	Ryder System	Pair Corr
0.63	AL	Air Lease	Pair Corr
0.83	AZ	A2Z Smart Technologies	Pair Corr
0.83	BR	Broadridge Financial	Pair Corr
0.72	BV	BrightView Holdings	Pair Corr
0.76	BW	Babcock Wilcox Enter	Pair Corr
0.83	CR	Crane Company	Pair Corr
0.94	CW	Curtiss Wright	Pair Corr
0.65	DE	Deere Company Fiscal Year End 27th of November 2024	Pair Corr
0.61	EH	Ehang Holdings	Pair Corr

Moving against Zurn Stock

0.8	LIQT	LiqTech International	Pair Corr
0.7	CDTI	CDTi Advanced Materials	Pair Corr
0.46	CLWT	Euro Tech Holdings	Pair Corr
0.32	SPEC	Spectaire Holdings	Pair Corr
0.8	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.7	CP	Canadian Pacific Railway	Pair Corr
0.4	AP	Ampco Pittsburgh	Pair Corr

Related Correlations Analysis

	ERII	CECO	SCWO	MKUL	FSS	FTEK	DCTIF	AKCCF	TOMZ
ERII		-0.39	0.42	0.6	0.1	0.07	-0.53	0.17	0.27	ERII
CECO	-0.39		-0.4	-0.43	0.7	0.38	0.14	0.18	-0.34	CECO
SCWO	0.42	-0.4		0.43	-0.42	-0.07	-0.13	0.21	0.11	SCWO
MKUL	0.6	-0.43	0.43		-0.15	0.28	-0.71	-0.23	-0.04	MKUL
FSS	0.1	0.7	-0.42	-0.15		0.34	-0.07	0.21	-0.26	FSS
FTEK	0.07	0.38	-0.07	0.28	0.34		-0.4	0.08	0.03	FTEK
DCTIF	-0.53	0.14	-0.13	-0.71	-0.07	-0.4		0.17	-0.09	DCTIF
AKCCF	0.17	0.18	0.21	-0.23	0.21	0.08	0.17		0.23	AKCCF
TOMZ	0.27	-0.34	0.11	-0.04	-0.26	0.03	-0.09	0.23		TOMZ
	ERII	CECO	SCWO	MKUL	FSS	FTEK	DCTIF	AKCCF	TOMZ

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

FSS	+ 0.7	CECO
MKUL	+ 0.6	ERII
MKUL	+ 0.43	SCWO
SCWO	+ 0.42	ERII
FTEK	+ 0.38	CECO
FTEK	+ 0.34	FSS

High negative correlations

DCTIF	- 0.71	MKUL
DCTIF	- 0.53	ERII
MKUL	- 0.43	CECO
FSS	- 0.42	SCWO
DCTIF	- 0.4	FTEK
SCWO	- 0.4	CECO

Risk-Adjusted Indicators

There is a big difference between Zurn Stock performing well and Zurn Elkay 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 Zurn Elkay'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
ERII	2.08	(0.28)	0.00	(0.09)	0.00	0.00	4.14	(4.87)	27.67
CECO	2.46	(0.02)	0.04	0.11	3.21	(2.79)	4.65	(3.36)	18.98
SCWO	4.55	(0.23)	0.00	0.03	6.07	(5.11)	9.38	(7.23)	38.03
MKUL	5.20	0.70	0.12	1.37	5.02	(6.31)	12.15	(8.91)	36.49
FSS	1.36	(0.14)	(0.02)	0.04	2.34	(1.20)	2.61	(3.28)	8.72
FTEK	1.55	0.09	0.00	0.46	1.71	(2.46)	3.88	(2.91)	8.97
DCTIF	5.24	(0.39)	0.01	0.05	7.39	(19.50)	22.99	(18.13)	65.42
AKCCF	2.74	(0.03)	0.00	0.18	0.00	0.00	5.56	(5.36)	17.37
TOMZ	3.24	(0.39)	0.00	(2.40)	0.00	0.00	7.79	(6.32)	21.76

Zurn Elkay Corporate Management

Sudhanshu Chhabra	Vice President - Rexnord Business Systems	Profile
Michael Troutman	Chief Information Officer	Profile
Mark Bartlett	Lead Independent Director	Profile
Thomas Christopoul	Independent Director	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC