MDU Resources Correlations

MDU Stock

USD 16.77 0.28 1.64%

The current 90-days correlation between MDU Resources Group and Griffon is 0.53 (i.e., Very weak diversification). The correlation of MDU Resources 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.

MDU Resources Correlation With Market

Weak diversification

The correlation between MDU Resources Group and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MDU Resources Group and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in MDU Resources 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 unemployment.

Moving together with MDU Stock

0.65	TUSK	Mammoth Energy Services	Pair Corr
0.74	J	Jacobs Solutions	Pair Corr
0.86	BV	BrightView Holdings	Pair Corr
0.8	BW	Babcock Wilcox Enter	Pair Corr
0.83	CW	Curtiss Wright	Pair Corr
0.66	GP	GreenPower Motor	Pair Corr
0.74	IR	Ingersoll Rand	Pair Corr
0.66	NL	NL Industries	Pair Corr
0.8	NX	Quanex Building Products	Pair Corr
0.7	OP	Oceanpal	Pair Corr

Moving against MDU Stock

0.84	G	Genpact Limited	Pair Corr
0.77	SPLP-PA	Steel Partners Holdings	Pair Corr
0.75	BOOM	Dmc Global	Pair Corr
0.69	OTTR	Otter Tail	Pair Corr
0.45	BR	Broadridge Financial	Pair Corr
0.9	KC	Kingsoft Cloud Holdings	Pair Corr
0.85	EH	Ehang Holdings	Pair Corr
0.73	LZ	LegalZoom	Pair Corr
0.71	GE	GE Aerospace	Pair Corr
0.67	DE	Deere Company	Pair Corr
0.8	WM	Waste Management	Pair Corr
0.67	SB	Safe Bulkers	Pair Corr
0.66	PC	Premium Catering	Pair Corr
0.64	MG	Mistras Group	Pair Corr

Related Correlations Analysis

	GFF	BBU	MATW	SPLP	VMI	CODI-PA	CODI	TRC
GFF		-0.11	0.53	-0.19	0.33	0.4	0.29	0.26	GFF
BBU	-0.11		-0.51	0.27	0.43	-0.3	-0.07	-0.22	BBU
MATW	0.53	-0.51		0.04	-0.14	0.57	0.63	-0.09	MATW
SPLP	-0.19	0.27	0.04		-0.24	-0.2	0.38	-0.29	SPLP
VMI	0.33	0.43	-0.14	-0.24		0.18	-0.22	0.14	VMI
CODI-PA	0.4	-0.3	0.57	-0.2	0.18		-0.01	0.18	CODI-PA
CODI	0.29	-0.07	0.63	0.38	-0.22	-0.01		-0.39	CODI
TRC	0.26	-0.22	-0.09	-0.29	0.14	0.18	-0.39		TRC
	GFF	BBU	MATW	SPLP	VMI	CODI-PA	CODI	TRC

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

CODI	+ 0.63	MATW
CODI-PA	+ 0.57	MATW
MATW	+ 0.53	GFF
VMI	+ 0.43	BBU
CODI-PA	+ 0.4	GFF
CODI	+ 0.38	SPLP

High negative correlations

MATW	- 0.51	BBU
TRC	- 0.39	CODI
CODI-PA	- 0.3	BBU
TRC	- 0.29	SPLP
VMI	- 0.24	SPLP
CODI	- 0.22	VMI

Risk-Adjusted Indicators

There is a big difference between MDU Stock performing well and MDU Resources 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 MDU Resources' 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
GFF	1.49	(0.04)	0.00	(0.10)	0.00	0.00	2.55	(3.19)	12.51
BBU	1.66	0.05	0.00	(0.02)	0.00	0.00	3.24	(3.28)	12.93
MATW	2.03	(0.28)	0.00	(0.32)	0.00	0.00	2.96	(4.33)	24.43
SPLP	1.49	0.05	0.03	0.10	2.76	(2.18)	2.97	(2.21)	18.57
VMI	1.74	(0.10)	0.00	(0.16)	0.00	0.00	2.59	(3.81)	21.38
CODI-PA	0.86	(0.01)	0.00	(0.11)	0.00	0.00	2.03	(1.96)	5.64
CODI	1.33	(0.21)	0.00	(0.26)	0.00	0.00	1.99	(2.82)	12.88
TRC	1.27	0.08	0.07	0.06	1.56	(1.36)	3.10	(2.70)	7.04

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