MSA Safety Correlations
| MSA Stock | USD 169.63 2.68 1.56% |
The current 90-days correlation between MSA Safety and Allegion PLC is 0.49 (i.e., Very weak diversification). The correlation of MSA Safety 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.
MSA Safety Correlation With Market
Poor diversification
The correlation between MSA Safety and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MSA Safety and DJI in the same portfolio, assuming nothing else is changed.
Moving together with MSA Stock
| 0.62 | KC | Kingsoft Cloud Holdings | PairCorr |
| 0.61 | WFCF | Where Food Comes | PairCorr |
| 0.64 | ACU | Acme United | PairCorr |
| 0.62 | AXR | AMREP | PairCorr |
| 0.78 | WNS | WNS Holdings | PairCorr |
| 0.69 | MATW | Matthews International | PairCorr |
| 0.64 | MIMI | Mint Incorporation Upward Rally | PairCorr |
| 0.62 | MLKN | MillerKnoll | PairCorr |
Moving against MSA Stock
| 0.68 | EXLS | ExlService Holdings | PairCorr |
| 0.54 | WM | Waste Management | PairCorr |
| 0.52 | NL | NL Industries | PairCorr |
| 0.44 | EEFT | Euronet Worldwide | PairCorr |
| 0.35 | EBF | Ennis Inc | PairCorr |
| 0.34 | GFL | Gfl Environmental | PairCorr |
| 0.63 | FC | Franklin Covey | PairCorr |
| 0.59 | EVGOW | EVgo Equity Warrants | PairCorr |
| 0.51 | CP | Canadian Pacific Railway | PairCorr |
| 0.34 | OFAL | OFAL | PairCorr |
Related Correlations Analysis
| 0.9 | -0.32 | 0.75 | 0.81 | 0.82 | 0.43 | ALLE | ||
| 0.9 | -0.09 | 0.89 | 0.94 | 0.95 | 0.53 | REZI | ||
| -0.32 | -0.09 | 0.15 | -0.12 | 0.04 | -0.18 | NL | ||
| 0.75 | 0.89 | 0.15 | 0.8 | 0.88 | 0.27 | BRC | ||
| 0.81 | 0.94 | -0.12 | 0.8 | 0.95 | 0.69 | BCO | ||
| 0.82 | 0.95 | 0.04 | 0.88 | 0.95 | 0.56 | MG | ||
| 0.43 | 0.53 | -0.18 | 0.27 | 0.69 | 0.56 | CIX | ||
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between MSA Stock performing well and MSA Safety 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 MSA Safety'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| ALLE | 0.97 | 0.21 | 0.20 | 0.32 | 0.65 | 3.01 | 7.44 | |||
| REZI | 2.22 | 0.59 | 0.30 | 0.34 | 1.81 | 5.89 | 23.06 | |||
| NL | 2.37 | (0.04) | 0.00 | 0.31 | 0.00 | 4.85 | 16.50 | |||
| BRC | 0.94 | 0.14 | 0.16 | 0.23 | 0.69 | 2.50 | 4.48 | |||
| BCO | 1.25 | 0.39 | 0.34 | 0.46 | 0.59 | 3.27 | 13.80 | |||
| MG | 1.27 | 0.34 | 0.18 | 2.77 | 0.97 | 3.44 | 12.29 | |||
| CIX | 2.66 | (0.16) | (0.01) | 0.04 | 3.12 | 5.74 | 26.99 |