Federal Signal Correlations

FSG Stock  EUR 91.50  0.50  0.55%   
The current 90-days correlation between Federal Signal and Superior Plus Corp is -0.22 (i.e., Very good diversification). The correlation of Federal Signal 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.

Federal Signal Correlation With Market

Modest diversification

The correlation between Federal Signal and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Federal Signal and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Federal Signal could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Federal Signal when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Federal Signal - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Federal Signal to buy it.

Moving together with Federal Stock

  0.8418RA Select Energy ServicesPairCorr
  0.86WCE CECO Environmental CorpPairCorr
  0.778II PLAYTIKA HOLDINGPairCorr
  0.67SAP SAP SEPairCorr
  0.71BN9 The BankPairCorr
  0.78BAC Verizon CommunicationsPairCorr

Moving against Federal Stock

  0.624YQ GVS SPAPairCorr
  0.54HZS Hitachi ZosenPairCorr
  0.5DBPD Xtrackers ShortDAXPairCorr
  0.41BUU DevEx ResourcesPairCorr
  0.33C4X Onxeo SAPairCorr
  0.33BOSS Hugo Boss AGPairCorr

Related Correlations Analysis

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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   
VUSARS6
HEIRS6
HEIVUSA
9K12DG
HEIMEL
MELVUSA
  
High negative correlations   
VUSA2DG
HEI2DG
RS62DG
HEI9K1
3RKU9K1
VUSA9K1

Risk-Adjusted Indicators

There is a big difference between Federal Stock performing well and Federal Signal 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 Federal Signal'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
8SP  2.07 (0.04) 0.00 (1.30) 0.00 
 3.36 
 20.22 
2DG  4.93 (1.15) 0.00 (0.41) 0.00 
 9.09 
 52.42 
NOH1  2.05  0.21  0.09  0.42  1.77 
 6.61 
 13.10 
RS6  1.32  0.26  0.13  1.55  1.15 
 2.94 
 13.65 
XYTA  11.55  4.09  0.13 (1.84) 8.11 
 33.33 
 233.33 
9K1  1.64 (0.32) 0.00  2.31  0.00 
 2.94 
 14.80 
3RKU  1.54  0.42  0.20  1.86  1.23 
 3.31 
 9.54 
VUSA  0.54  0.13  0.13  0.25  0.47 
 1.19 
 6.02 
MEL  1.08  0.17  0.06  1.42  1.07 
 2.95 
 7.09 
HEI  1.20  0.42  0.35  0.60  0.55 
 3.29 
 8.93 

Be your own money manager

Our tools can tell you how much better you can do entering a position in Federal Signal without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Federal Signal Corporate Management

Elected by the shareholders, the Federal Signal's board of directors comprises two types of representatives: Federal Signal inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Federal. The board's role is to monitor Federal Signal's management team and ensure that shareholders' interests are well served. Federal Signal's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Federal Signal's outside directors are responsible for providing unbiased perspectives on the board's policies.