EMCOR Correlations

EME Stock

USD 398.54 12.00 3.10%

The current 90-days correlation between EMCOR Group and Topbuild Corp is 0.3 (i.e., Weak diversification). The correlation of EMCOR 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.

EMCOR Correlation With Market

Modest diversification

The correlation between EMCOR Group and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding EMCOR Group and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in EMCOR Group. 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.

Moving together with EMCOR Stock

0.89	J	Jacobs Solutions	Pair Corr
0.8	DY	Dycom Industries	Pair Corr
0.72	ESOA	Energy Services	Pair Corr
0.76	ACA	Arcosa Inc	Pair Corr
0.92	ACM	Aecom Technology	Pair Corr
0.91	AGX	Argan Inc	Pair Corr
0.9	ECG	Everus Construction	Pair Corr
0.66	FGL	Founder Group Limited	Pair Corr
0.99	FIX	Comfort Systems USA	Pair Corr
0.92	FLR	Fluor	Pair Corr
0.91	GVA	Granite Construction	Pair Corr
0.92	MTZ	MasTec Inc	Pair Corr
0.75	ORN	Orion Group Holdings	Pair Corr
0.97	PWR	Quanta Services	Pair Corr
0.9	GLDD	Great Lakes Dredge	Pair Corr
0.92	IESC	IES Holdings	Pair Corr
0.89	MYRG	MYR Group	Pair Corr
0.7	PGHL	Primega Group Holdings	Pair Corr
0.97	PRIM	Primoris Services	Pair Corr
0.86	ROAD	Construction Partners	Pair Corr
0.84	AMRC	Ameresco Buyout Trend	Pair Corr
0.82	SHIM	Shimmick Common	Pair Corr
0.93	STRL	Sterling Construction	Pair Corr
0.81	BWMN	Bowman Consulting	Pair Corr
0.67	CDLR	Cadeler AS Earnings Call This Week	Pair Corr

Moving against EMCOR Stock

0.5	JUNE	Junee Limited Ordinary Trending	Pair Corr
0.59	G	Genpact Limited	Pair Corr
0.53	DE	Deere Company	Pair Corr

Related Correlations Analysis

	MYRG	BLD	APG	DY	FIX	PRIM	GVA	ROAD	MTRX	MTZ
MYRG		0.69	0.03	0.72	0.87	0.88	0.93	0.94	0.21	0.72	MYRG
BLD	0.69		0.31	0.72	0.77	0.66	0.74	0.59	0.59	0.67	BLD
APG	0.03	0.31		0.31	0.11	0.04	0.2	-0.08	0.5	0.13	APG
DY	0.72	0.72	0.31		0.84	0.8	0.83	0.63	0.68	0.87	DY
FIX	0.87	0.77	0.11	0.84		0.96	0.89	0.83	0.45	0.93	FIX
PRIM	0.88	0.66	0.04	0.8	0.96		0.9	0.85	0.36	0.91	PRIM
GVA	0.93	0.74	0.2	0.83	0.89	0.9		0.88	0.36	0.82	GVA
ROAD	0.94	0.59	-0.08	0.63	0.83	0.85	0.88		0.08	0.68	ROAD
MTRX	0.21	0.59	0.5	0.68	0.45	0.36	0.36	0.08		0.54	MTRX
MTZ	0.72	0.67	0.13	0.87	0.93	0.91	0.82	0.68	0.54		MTZ
	MYRG	BLD	APG	DY	FIX	PRIM	GVA	ROAD	MTRX	MTZ

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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

PRIM	+ 0.96	FIX
ROAD	+ 0.94	MYRG
GVA	+ 0.93	MYRG
MTZ	+ 0.93	FIX
MTZ	+ 0.91	PRIM
GVA	+ 0.9	PRIM

High negative correlations

ROAD

- 0.08

APG

Risk-Adjusted Indicators

There is a big difference between EMCOR Stock performing well and EMCOR 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 EMCOR'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
MYRG	2.45	(0.23)	0.00	(0.33)	0.00	0.00	4.97	(5.73)	18.19
BLD	1.53	(0.18)	0.00	(0.25)	0.00	0.00	3.23	(3.75)	11.12
APG	1.38	(0.01)	0.00	(0.11)	0.00	0.00	3.25	(3.14)	12.53
DY	2.03	(0.08)	0.00	(0.17)	0.00	0.00	4.93	(4.95)	13.28
FIX	2.72	(0.22)	0.00	(0.26)	0.00	0.00	5.05	(5.90)	31.92
PRIM	2.54	(0.13)	0.00	(0.21)	0.00	0.00	4.65	(4.49)	25.01
GVA	1.34	(0.31)	0.00	(0.44)	0.00	0.00	2.03	(2.86)	8.39
ROAD	2.17	(0.33)	0.00	(0.50)	0.00	0.00	4.28	(5.81)	16.21
MTRX	2.28	0.16	0.05	0.04	2.89	(2.48)	4.34	(5.17)	14.29
MTZ	2.37	0.03	0.00	(0.07)	0.00	0.00	4.79	(4.71)	22.88

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