Mueller Water Correlations

MWA Stock

USD 27.78 0.94 3.50%

The current 90-days correlation between Mueller Water Products and Enerpac Tool Group is -0.02 (i.e., Good diversification). The correlation of Mueller Water 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.

Mueller Water Correlation With Market

Significant diversification

The correlation between Mueller Water Products and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mueller Water Products 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 Mueller Water Products. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in housing.

Moving against Mueller Stock

0.56	RR	Richtech Robotics Class Buyout Trend	Pair Corr
0.55	CVV	CVD Equipment Earnings Call Tomorrow	Pair Corr
0.53	BW	Babcock Wilcox Enter	Pair Corr
0.49	ENOV	Enovis Corp	Pair Corr
0.48	CXT	Crane NXT	Pair Corr
0.42	AOS	Smith AO Sell-off Trend	Pair Corr
0.41	HI	Hillenbrand	Pair Corr
0.35	IR	Ingersoll Rand	Pair Corr
0.31	MKDWW	MKDWELL Tech Warrants	Pair Corr
0.62	RRX	Regal Beloit	Pair Corr
0.61	IEX	IDEX	Pair Corr
0.55	GHM	Graham	Pair Corr
0.54	ETN	Eaton PLC	Pair Corr
0.53	XMTR	Xometry	Pair Corr
0.53	PNR	Pentair PLC	Pair Corr
0.37	EMR	Emerson Electric	Pair Corr
0.36	FLS	Flowserve	Pair Corr
0.33	MIR	Mirion Technologies	Pair Corr
0.57	GNRC	Generac Holdings	Pair Corr
0.54	GTLS	Chart Industries	Pair Corr

Related Correlations Analysis

	EPAC	LXFR	JBT	CSWI	ITT	HURC	CYD	OFLX	NPO	FELE
EPAC		0.45	0.0	-0.22	0.35	0.29	0.19	-0.31	0.76	0.87	EPAC
LXFR	0.45		0.0	0.32	0.81	0.87	-0.48	0.08	0.66	0.41	LXFR
JBT	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	JBT
CSWI	-0.22	0.32	0.0		0.64	0.4	-0.82	0.66	-0.3	-0.35	CSWI
ITT	0.35	0.81	0.0	0.64		0.81	-0.66	0.25	0.41	0.2	ITT
HURC	0.29	0.87	0.0	0.4	0.81		-0.63	0.02	0.46	0.15	HURC
CYD	0.19	-0.48	0.0	-0.82	-0.66	-0.63		-0.59	0.18	0.39	CYD
OFLX	-0.31	0.08	0.0	0.66	0.25	0.02	-0.59		-0.43	-0.35	OFLX
NPO	0.76	0.66	0.0	-0.3	0.41	0.46	0.18	-0.43		0.83	NPO
FELE	0.87	0.41	0.0	-0.35	0.2	0.15	0.39	-0.35	0.83		FELE
	EPAC	LXFR	JBT	CSWI	ITT	HURC	CYD	OFLX	NPO	FELE

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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

FELE	+ 0.87	EPAC
HURC	+ 0.87	LXFR
FELE	+ 0.83	NPO
ITT	+ 0.81	LXFR
HURC	+ 0.81	ITT
NPO	+ 0.76	EPAC

High negative correlations

CYD	- 0.82	CSWI
CYD	- 0.66	ITT
CYD	- 0.63	HURC
OFLX	- 0.59	CYD
CYD	- 0.48	LXFR
NPO	- 0.43	OFLX

Risk-Adjusted Indicators

There is a big difference between Mueller Stock performing well and Mueller Water 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 Mueller Water'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
EPAC	1.39	(0.14)	0.00	(0.18)	0.00	0.00	2.35	(2.97)	6.65
LXFR	1.74	(0.17)	0.00	(0.21)	0.00	0.00	2.60	(4.10)	11.40
JBT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CSWI	1.48	(0.34)	0.00	(0.38)	0.00	0.00	2.45	(3.67)	7.45
ITT	1.32	(0.07)	0.00	(0.09)	0.00	0.00	3.20	(2.75)	7.23
HURC	2.33	(0.21)	0.00	(0.72)	0.00	0.00	4.14	(4.30)	23.02
CYD	5.22	1.38	0.24	(12.83)	4.84	(6.25)	15.80	(10.50)	36.75
OFLX	1.80	(0.22)	0.00	(0.72)	0.00	0.00	3.01	(3.59)	9.64
NPO	1.62	(0.03)	0.00	(0.06)	0.00	0.00	2.26	(3.38)	10.90
FELE	1.10	(0.07)	0.00	(0.12)	0.00	0.00	2.30	(2.17)	8.53

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