MYR Correlations

MYRG Stock

USD 121.29 2.74 2.31%

The current 90-days correlation between MYR Group and Comfort Systems USA is 0.8 (i.e., Very poor diversification). The correlation of MYR 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.

MYR Correlation With Market

Modest diversification

The correlation between MYR Group and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MYR 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 MYR 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 metropolitan statistical area.

Moving together with MYR Stock

0.62	J	Jacobs Solutions	Pair Corr
0.84	ESOA	Energy Services	Pair Corr
0.69	EXPO	Exponent	Pair Corr
0.83	WLDN	Willdan Group Earnings Call This Week	Pair Corr
0.71	ACA	Arcosa Inc	Pair Corr
0.86	ACM	Aecom Technology	Pair Corr
0.72	EME	EMCOR Group Earnings Call Today	Pair Corr
0.73	FIX	Comfort Systems USA	Pair Corr
0.92	FLR	Fluor	Pair Corr
0.78	GVA	Granite Construction	Pair Corr
0.79	KBR	KBR Inc	Pair Corr
0.84	PWR	Quanta Services	Pair Corr
0.63	STN	Stantec Earnings Call Today	Pair Corr
0.66	TPC	Tutor Perini Earnings Call Today	Pair Corr
0.84	GLDD	Great Lakes Dredge	Pair Corr
0.61	NVEE	NV5 Global	Pair Corr
0.76	PRIM	Primoris Services Upward Rally	Pair Corr
0.62	RITR	Reitar Logtech Holdings	Pair Corr
0.87	ROAD	Construction Partners	Pair Corr
0.7	AMRC	Ameresco Earnings Call Today	Pair Corr
0.61	SHIM	Shimmick Common	Pair Corr
0.82	STRL	Sterling Construction Buyout Trend	Pair Corr

Moving against MYR Stock

0.52	VATE	Innovate Corp Earnings Call This Week	Pair Corr
0.39	WLGS	Wang Lee Group,	Pair Corr
0.7	EH	Ehang Holdings	Pair Corr
0.54	BZ	Kanzhun Ltd ADR	Pair Corr
0.44	BA	Boeing	Pair Corr
0.39	DE	Deere Company	Pair Corr
0.34	CP	Canadian Pacific Railway	Pair Corr

Related Correlations Analysis

	FIX	GVA	DY	MTZ	EME	BLD	APG	ROAD	TPC	STRL
FIX		0.78	0.55	0.8	0.96	0.67	-0.08	0.7	0.74	0.8	FIX
GVA	0.78		0.35	0.36	0.86	0.84	-0.08	0.9	0.92	0.85	GVA
DY	0.55	0.35		0.58	0.46	0.42	0.12	0.14	0.33	0.18	DY
MTZ	0.8	0.36	0.58		0.72	0.32	-0.15	0.29	0.35	0.42	MTZ
EME	0.96	0.86	0.46	0.72		0.67	-0.21	0.78	0.84	0.86	EME
BLD	0.67	0.84	0.42	0.32	0.67		0.21	0.65	0.75	0.63	BLD
APG	-0.08	-0.08	0.12	-0.15	-0.21	0.21		-0.22	-0.17	-0.31	APG
ROAD	0.7	0.9	0.14	0.29	0.78	0.65	-0.22		0.79	0.88	ROAD
TPC	0.74	0.92	0.33	0.35	0.84	0.75	-0.17	0.79		0.81	TPC
STRL	0.8	0.85	0.18	0.42	0.86	0.63	-0.31	0.88	0.81		STRL
	FIX	GVA	DY	MTZ	EME	BLD	APG	ROAD	TPC	STRL

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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

EME	+ 0.96	FIX
TPC	+ 0.92	GVA
ROAD	+ 0.9	GVA
STRL	+ 0.88	ROAD
EME	+ 0.86	GVA
STRL	+ 0.86	EME

High negative correlations

STRL	- 0.31	APG
ROAD	- 0.22	APG
APG	- 0.21	EME
TPC	- 0.17	APG
APG	- 0.15	MTZ
APG	- 0.08	GVA

Risk-Adjusted Indicators

There is a big difference between MYR Stock performing well and MYR 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 MYR'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
FIX	2.45	(0.22)	0.00	(0.19)	0.00	0.00	5.20	(6.52)	31.92
GVA	1.14	(0.25)	0.00	(0.30)	0.00	0.00	1.73	(2.60)	8.39
DY	1.97	(0.17)	0.00	(0.25)	0.00	0.00	3.78	(4.75)	16.49
MTZ	1.91	(0.08)	0.00	(0.10)	0.00	0.00	4.58	(4.27)	22.88
EME	1.81	(0.31)	0.00	(0.45)	0.00	0.00	2.62	(4.35)	24.49
BLD	1.68	(0.17)	0.00	(0.11)	0.00	0.00	3.27	(4.05)	14.85
APG	1.20	0.18	0.11	0.75	1.28	(1.30)	3.25	(2.67)	10.43
ROAD	2.11	(0.36)	0.00	(0.54)	0.00	0.00	4.28	(5.81)	17.06
TPC	1.92	(0.39)	0.00	(0.40)	0.00	0.00	3.38	(5.33)	14.45
STRL	2.78	(0.68)	0.00	(2.01)	0.00	0.00	4.54	(6.42)	31.34

MYR Corporate Management

Joe Anderson	VP Counsel	Profile
William JD	Chief VP	Profile
James Barrett	Vice Resources	Profile
D Lamont	ES Co	Profile
Jennifer Harper	VP Treasurer	Profile

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