Ming Shing Correlations

Stocks . USA . 
Stock . Ming Shing Group
MSW Stock  USD 4.17  0.17  3.92%   
The correlation of Ming Shing 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.

Ming Shing Correlation With Market

Good diversification

The correlation between Ming Shing Group and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ming Shing 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 Ming Shing 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 state.

Moving together with Ming Stock

  0.67ESOA Energy ServicesPairCorr
  0.76ACA Arcosa IncPairCorr
  0.74ACM Aecom TechnologyPairCorr
  0.72APG Api Group CorpPairCorr
  0.75FIX Comfort Systems USAPairCorr
  0.64GVA Granite ConstructionPairCorr
  0.68ORN Orion Group HoldingsPairCorr
  0.7PWR Quanta ServicesPairCorr
  0.67MTRX Matrix ServicePairCorr
  0.7MYRG MYR GroupPairCorr
  0.64PRIM Primoris ServicesPairCorr
  0.72ROAD Construction PartnersPairCorr
  0.65STRL Sterling ConstructionPairCorr
  0.89BBCP Concrete Pumping Holdings Fiscal Year End 9th of January 2025 PairCorr
  0.72BWMN Bowman ConsultingPairCorr
  0.67G Genpact LimitedPairCorr
  0.71R Ryder SystemPairCorr
  0.78AL Air LeasePairCorr

Moving against Ming Stock

  0.7SKK PROSHARES ULTRASHORTPairCorr
  0.56NVEE NV5 GlobalPairCorr
  0.55JUNE Junee Limited OrdinaryPairCorr
  0.49RITR Reitar Logtech HoldingsPairCorr
  0.48AMRC AmerescoPairCorr
  0.56CDLR Cadeler ASPairCorr
  0.45CP Canadian Pacific RailwayPairCorr
  0.32BW Babcock Wilcox EnterPairCorr

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   
MTX
+ 0.92
CEIX
MTX
+ 0.78
RSVR
RSVR
+ 0.75
CEIX
MTX
+ 0.61
CC
CC
+ 0.56
CEIX
RSVR
+ 0.41
CC
  
High negative correlations   
RETO
- 0.8
RSVR
RETO
- 0.73
CEIX
RETO
- 0.62
MTX
RETO
- 0.23
HIHO
RETO
- 0.17
CC
RETO
- 0.1
NCMI

Risk-Adjusted Indicators

There is a big difference between Ming Stock performing well and Ming Shing 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 Ming Shing'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.

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