Mastech Holdings Correlations

MHH Stock

USD 10.36 0.16 1.52%

The current 90-days correlation between Mastech Holdings and EVI Industries is 0.16 (i.e., Average diversification). The correlation of Mastech Holdings 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.

Mastech Holdings Correlation With Market

Significant diversification

The correlation between Mastech Holdings and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mastech Holdings 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 Mastech Holdings. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in rate.

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

Moving together with Mastech Stock

0.88	J	Jacobs Solutions	Pair Corr
0.63	R	Ryder System	Pair Corr
0.9	BV	BrightView Holdings	Pair Corr
0.9	BW	Babcock Wilcox Enter	Pair Corr
0.81	CW	Curtiss Wright	Pair Corr
0.77	DY	Dycom Industries	Pair Corr
0.83	FA	First Advantage Corp	Pair Corr
0.74	FC	Franklin Covey Earnings Call This Week	Pair Corr
0.74	HI	Hillenbrand	Pair Corr
0.73	HY	Hyster Yale Materials	Pair Corr
0.82	IR	Ingersoll Rand	Pair Corr
0.78	KE	Kimball Electronics	Pair Corr
0.82	OP	Oceanpal	Pair Corr
0.74	TE	T1 Energy Symbol Change	Pair Corr
0.89	TH	Target Hospitality Corp	Pair Corr
0.89	UP	Wheels Up Experience	Pair Corr

Moving against Mastech Stock

0.88	BZ	Kanzhun Ltd ADR	Pair Corr
0.8	NSP	Insperity	Pair Corr
0.75	EH	Ehang Holdings	Pair Corr
0.59	DE	Deere Company	Pair Corr
0.54	GE	GE Aerospace	Pair Corr
0.84	DMYY	dMY Squared Technology	Pair Corr
0.81	VACH	Voyager Acquisition Corp	Pair Corr
0.75	LZ	LegalZoom	Pair Corr
0.75	WM	Waste Management	Pair Corr
0.72	SB	Safe Bulkers	Pair Corr
0.7	PC	Premium Catering	Pair Corr
0.52	MG	Mistras Group	Pair Corr

Related Correlations Analysis

	EVI	LGL	BGSF	ISDR	ELMD
EVI		-0.12	-0.16	0.25	-0.2	EVI
LGL	-0.12		-0.28	-0.36	0.39	LGL
BGSF	-0.16	-0.28		0.67	0.46	BGSF
ISDR	0.25	-0.36	0.67		0.45	ISDR
ELMD	-0.2	0.39	0.46	0.45		ELMD
	EVI	LGL	BGSF	ISDR	ELMD

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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

ISDR	+ 0.67	BGSF
ELMD	+ 0.46	BGSF
ELMD	+ 0.45	ISDR
ELMD	+ 0.39	LGL
ISDR	+ 0.25	EVI

High negative correlations

ISDR	- 0.36	LGL
BGSF	- 0.28	LGL
ELMD	- 0.2	EVI
BGSF	- 0.16	EVI
LGL	- 0.12	EVI

Risk-Adjusted Indicators

There is a big difference between Mastech Stock performing well and Mastech Holdings 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 Mastech Holdings' 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
EVI	2.25	0.19	0.08	1.50	2.77	(2.31)	4.71	(4.66)	12.96
LGL	2.79	0.18	0.07	1.09	2.97	(3.15)	6.28	(4.06)	14.45
BGSF	2.38	(0.39)	0.00	(3.02)	0.00	0.00	3.63	(6.17)	21.74
ISDR	1.73	(0.13)	0.00	(7.10)	0.00	0.00	2.88	(3.61)	9.01
ELMD	2.32	(0.08)	0.00	(0.15)	0.00	0.00	3.90	(4.34)	21.31

Mastech Holdings Corporate Management

Philippe Bourdon	Chief Officer	Profile
Jacob Samuel	Mastech Delivery	Profile
Jennifer Lacey	Head Admin	Profile
Jennifer JD	Head Admin	Profile

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