Matrix Service Correlations

MTRX Stock

USD 12.49 0.60 4.58%

The current 90-days correlation between Matrix Service and EMCOR Group is 0.54 (i.e., Very weak diversification). The correlation of Matrix Service 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.

Matrix Service Correlation With Market

Weak diversification

The correlation between Matrix Service Co and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Matrix Service Co 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 Matrix Service Co. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Matrix Stock

0.68	DY	Dycom Industries	Pair Corr
0.7	VATE	Innovate Corp	Pair Corr
0.73	WLGS	Wang Lee Group, Trending	Pair Corr
0.61	ORN	Orion Group Holdings	Pair Corr
0.61	IESC	IES Holdings	Pair Corr
0.75	BBCP	Concrete Pumping Holdings	Pair Corr

Moving against Matrix Stock

0.32

SLND

Southland Holdings

Pair Corr

Related Correlations Analysis

	EME	FIX	PRIM	GVA	ROAD	MYRG	APG	TPC	ACM	FLR
EME		0.99	0.97	0.92	0.87	0.9	0.03	0.09	0.92	0.93	EME
FIX	0.99		0.96	0.9	0.83	0.88	0.07	0.08	0.91	0.92	FIX
PRIM	0.97	0.96		0.93	0.86	0.89	0.01	0.11	0.92	0.92	PRIM
GVA	0.92	0.9	0.93		0.86	0.91	0.12	-0.04	0.93	0.91	GVA
ROAD	0.87	0.83	0.86	0.86		0.94	-0.17	0.05	0.92	0.92	ROAD
MYRG	0.9	0.88	0.89	0.91	0.94		-0.06	0.09	0.94	0.97	MYRG
APG	0.03	0.07	0.01	0.12	-0.17	-0.06		-0.19	-0.07	-0.11	APG
TPC	0.09	0.08	0.11	-0.04	0.05	0.09	-0.19		0.03	0.06	TPC
ACM	0.92	0.91	0.92	0.93	0.92	0.94	-0.07	0.03		0.97	ACM
FLR	0.93	0.92	0.92	0.91	0.92	0.97	-0.11	0.06	0.97		FLR
	EME	FIX	PRIM	GVA	ROAD	MYRG	APG	TPC	ACM	FLR

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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

FIX	+ 0.99	EME
PRIM	+ 0.97	EME
FLR	+ 0.97	MYRG
FLR	+ 0.97	ACM
PRIM	+ 0.96	FIX
MYRG	+ 0.94	ROAD

High negative correlations

TPC	- 0.19	APG
APG	- 0.17	ROAD
FLR	- 0.11	APG
ACM	- 0.07	APG
APG	- 0.06	MYRG
TPC	- 0.04	GVA

Risk-Adjusted Indicators

There is a big difference between Matrix Stock performing well and Matrix Service 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 Matrix Service'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
EME	2.12	(0.17)	0.00	(0.22)	0.00	0.00	4.09	(4.35)	24.49
FIX	2.75	(0.21)	0.00	(0.21)	0.00	0.00	5.37	(5.90)	31.92
PRIM	2.51	(0.19)	0.00	(0.23)	0.00	0.00	4.65	(4.49)	25.01
GVA	1.34	(0.24)	0.00	(0.31)	0.00	0.00	2.25	(2.86)	8.39
ROAD	2.25	(0.28)	0.00	(0.38)	0.00	0.00	4.39	(5.81)	16.21
MYRG	2.41	(0.29)	0.00	(0.33)	0.00	0.00	4.57	(5.73)	16.92
APG	1.37	0.04	0.00	(0.02)	0.00	0.00	3.25	(3.14)	12.53
TPC	2.81	0.18	0.02	0.00	3.39	(3.11)	3.85	(5.60)	42.81
ACM	1.14	(0.20)	0.00	(0.32)	0.00	0.00	2.10	(2.56)	6.36
FLR	2.16	(0.44)	0.00	(0.45)	0.00	0.00	3.51	(5.27)	21.29

Matrix Service Corporate Management

Justin JD	General VP	Profile
Kevin Durkin	VP Officer	Profile
Rick Bennett	CIO and VP	Profile
Kellie Smythe	Director Relations	Profile

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