MasTec Correlations

Stocks . USA . 
Stock . MasTec Inc
MTZ Stock  USD 125.97  4.44  3.65%   
The current 90-days correlation between MasTec Inc and EMCOR Group is 0.9 (i.e., Almost no diversification). The correlation of MasTec 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.

MasTec Correlation With Market

Weak diversification

The correlation between MasTec Inc and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MasTec Inc 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 MasTec Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with MasTec Stock

  0.85J Jacobs SolutionsPairCorr
  0.87DY Dycom IndustriesPairCorr
  0.67ACA Arcosa IncPairCorr
  0.78ACM Aecom TechnologyPairCorr
  0.93AGX Argan IncPairCorr
  0.81ECG Everus ConstructionPairCorr
  0.92EME EMCOR GroupPairCorr
  0.93FIX Comfort Systems USAPairCorr
  0.78FLR FluorPairCorr
  0.82GVA Granite ConstructionPairCorr
  0.72ORN Orion Group HoldingsPairCorr
  0.85PWR Quanta ServicesPairCorr
  0.79GLDD Great Lakes DredgePairCorr
  0.88IESC IES HoldingsPairCorr
  0.72MYRG MYR GroupPairCorr
  0.91PRIM Primoris ServicesPairCorr
  0.68ROAD Construction PartnersPairCorr
  0.76AMRC Ameresco Buyout TrendPairCorr
  0.71SHIM Shimmick CommonPairCorr
  0.76STRL Sterling ConstructionPairCorr
  0.67BWMN Bowman ConsultingPairCorr

Moving against MasTec Stock

  0.57JUNE Junee Limited Ordinary TrendingPairCorr
  0.38G Genpact LimitedPairCorr
  0.38DE Deere CompanyPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between MasTec Stock performing well and MasTec 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 MasTec'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
EME  2.08 (0.16) 0.00 (0.25) 0.00 
 0.00 
 4.09 
(4.35)
 24.49 
FIX  2.72 (0.22) 0.00 (0.26) 0.00 
 0.00 
 5.05 
(5.90)
 31.92 
PRIM  2.54 (0.13) 0.00 (0.21) 0.00 
 0.00 
 4.65 
(4.49)
 25.01 
GVA  1.34 (0.31) 0.00 (0.44) 0.00 
 0.00 
 2.03 
(2.86)
 8.39 
ROAD  2.17 (0.33) 0.00 (0.50) 0.00 
 0.00 
 4.28 
(5.81)
 16.21 
J  0.89 (0.09) 0.00 (0.24) 0.00 
 0.00 
 1.46 
(2.16)
 5.32 
DY  2.03 (0.08) 0.00 (0.17) 0.00 
 0.00 
 4.93 
(4.95)
 13.28 
PWR  2.12 (0.16) 0.00 (0.28) 0.00 
 0.00 
 4.13 
(4.20)
 24.41 
MYRG  2.45 (0.23) 0.00 (0.33) 0.00 
 0.00 
 4.97 
(5.73)
 18.19 
BLD  1.53 (0.18) 0.00 (0.25) 0.00 
 0.00 
 3.23 
(3.75)
 11.12 

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