Badger Meter Correlations

BMI Stock

USD 201.99 5.01 2.54%

The current 90-days correlation between Badger Meter and ESCO Technologies is 0.26 (i.e., Modest diversification). The correlation of Badger Meter 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.

Badger Meter Correlation With Market

Good diversification

The correlation between Badger Meter and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Badger Meter and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Badger Meter. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

For more detail on how to invest in Badger Stock please use our How to Invest in Badger Meter guide.

Moving together with Badger Stock

0.64	MKSI	MKS Instruments Tech Boost	Pair Corr
0.62	MLAB	Mesa Laboratories	Pair Corr
0.71	NOVT	Novanta	Pair Corr
0.72	VNT	Vontier Corp	Pair Corr
0.61	GNSS	Genasys	Pair Corr
0.69	KEYS	Keysight Technologies	Pair Corr
0.71	COHR	Coherent Buyout Trend	Pair Corr

Related Correlations Analysis

	ESE	NOVT	ST	FTV	COHR	MLAB	VPG	SOTK	ITRI	VNT
ESE		-0.67	0.31	0.12	-0.68	0.12	0.22	-0.68	-0.52	-0.22	ESE
NOVT	-0.67		-0.1	0.18	0.85	0.37	0.19	0.82	0.44	0.57	NOVT
ST	0.31	-0.1		0.3	-0.06	0.25	0.5	-0.21	-0.38	0.2	ST
FTV	0.12	0.18	0.3		0.25	0.81	0.6	-0.04	-0.42	0.83	FTV
COHR	-0.68	0.85	-0.06	0.25		0.44	0.33	0.78	0.23	0.66	COHR
MLAB	0.12	0.37	0.25	0.81	0.44		0.63	0.22	-0.35	0.8	MLAB
VPG	0.22	0.19	0.5	0.6	0.33	0.63		0.15	-0.53	0.72	VPG
SOTK	-0.68	0.82	-0.21	-0.04	0.78	0.22	0.15		0.4	0.4	SOTK
ITRI	-0.52	0.44	-0.38	-0.42	0.23	-0.35	-0.53	0.4		-0.21	ITRI
VNT	-0.22	0.57	0.2	0.83	0.66	0.8	0.72	0.4	-0.21		VNT
	ESE	NOVT	ST	FTV	COHR	MLAB	VPG	SOTK	ITRI	VNT

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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

COHR	+ 0.85	NOVT
VNT	+ 0.83	FTV
SOTK	+ 0.82	NOVT
MLAB	+ 0.81	FTV
VNT	+ 0.8	MLAB
SOTK	+ 0.78	COHR

High negative correlations

SOTK	- 0.68	ESE
COHR	- 0.68	ESE
NOVT	- 0.67	ESE
ITRI	- 0.53	VPG
ITRI	- 0.52	ESE
ITRI	- 0.42	FTV

Risk-Adjusted Indicators

There is a big difference between Badger Stock performing well and Badger Meter 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 Badger Meter'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
ESE	1.63	0.28	0.24	(0.60)	1.36	(1.98)	2.58	(2.40)	24.14
NOVT	1.14	(0.18)	0.00	(0.98)	0.00	0.00	1.40	(2.47)	10.19
ST	1.48	0.08	0.07	0.50	1.93	(1.66)	2.73	(2.89)	14.38
FTV	0.93	0.02	0.07	(1.29)	1.13	(0.95)	1.87	(2.19)	5.10
COHR	3.61	(0.52)	0.00	0.49	0.00	0.00	5.84	(7.31)	25.13
MLAB	2.27	(0.08)	0.00	0.48	0.00	0.00	4.28	(5.23)	13.66
VPG	1.64	(0.02)	0.00	(0.34)	0.00	0.00	3.57	(3.32)	14.71
SOTK	2.05	(0.19)	0.00	(0.37)	0.00	0.00	4.64	(4.07)	15.16
ITRI	1.32	(0.01)	0.04	0.01	1.68	(1.81)	1.89	(2.31)	12.12
VNT	1.33	(0.11)	0.00	0.53	0.00	0.00	3.00	(3.06)	8.33

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