Stantec Correlations

Stocks . USA . 
Stock . Stantec
STN Stock  USD 83.64  1.16  1.41%   
The current 90-days correlation between Stantec and EMCOR Group is 0.43 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Stantec moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Stantec moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Stantec Correlation With Market

Weak diversification

The correlation between Stantec and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Stantec and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Stantec. 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.
To learn how to invest in Stantec Stock, please use our How to Invest in Stantec guide.

Moving together with Stantec Stock

  0.68VSEC VSE CorporationPairCorr
  0.7EBF Ennis IncPairCorr

Moving against Stantec Stock

  0.33FA First Advantage CorpPairCorr
  0.6AWX Avalon Holdings Earnings Call TomorrowPairCorr
  0.6CBZ CBIZ IncPairCorr
  0.54FOUR Shift4 PaymentsPairCorr
  0.37GEO Geo GroupPairCorr
  0.35FCN FTI ConsultingPairCorr
  0.33DNB Dun Bradstreet HoldingsPairCorr

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   
FIX
+ 0.99
EME
PRIM
+ 0.97
EME
PRIM
+ 0.96
FIX
MYRG
+ 0.95
ROAD
MYRG
+ 0.95
ACM
ACM
+ 0.94
GVA
  
High negative correlations   
APG
- 0.03
ROAD

Risk-Adjusted Indicators

There is a big difference between Stantec Stock performing well and Stantec 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 Stantec'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  2.14 (0.25) 0.00 (0.35) 0.00 
 0.00 
 4.09 
(4.52)
 24.49 
FIX  2.77 (0.32) 0.00 (0.33) 0.00 
 0.00 
 5.05 
(6.52)
 31.92 
PRIM  2.56 (0.11) 0.00 (0.21) 0.00 
 0.00 
 4.65 
(4.60)
 25.01 
GVA  1.36 (0.32) 0.00 (0.45) 0.00 
 0.00 
 2.03 
(2.86)
 8.39 
ROAD  2.16 (0.42) 0.00 (0.65) 0.00 
 0.00 
 4.28 
(5.81)
 16.21 
ACM  1.12 (0.18) 0.00 (0.34) 0.00 
 0.00 
 2.10 
(2.56)
 6.36 
MYRG  2.40 (0.38) 0.00 (0.48) 0.00 
 0.00 
 4.97 
(5.73)
 18.19 
BLD  1.60 (0.20) 0.00 (0.28) 0.00 
 0.00 
 3.23 
(3.75)
 11.12 
APG  1.38  0.02  0.00 (0.07) 0.00 
 0.00 
 3.25 
(3.14)
 12.53 
DY  2.09 (0.16) 0.00 (0.24) 0.00 
 0.00 
 4.93 
(4.95)
 13.28 

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