Parsons Corp Correlations

PSN Stock

USD 62.84 0.10 0.16%

The current 90-days correlation between Parsons Corp and Regal Beloit is -0.2 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Parsons Corp moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Parsons Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Parsons Corp Correlation With Market

Very good diversification

The correlation between Parsons Corp and DJI is -0.21 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Parsons Corp and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Parsons Stock

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Parsons Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as various price indices.

To learn how to invest in Parsons Stock, please use our How to Invest in Parsons Corp guide.

Moving together with Parsons Stock

0.69	EH	Ehang Holdings	Pair Corr
0.71	VTSI	VirTra Inc	Pair Corr

Moving against Parsons Stock

0.71	688586	Hefei Jianghang Aircraft	Pair Corr
0.66	300965	Beijing Hengyu Datacom	Pair Corr
0.63	ESLT	Elbit Systems	Pair Corr
0.57	688239	Guizhou Aviation Tec	Pair Corr
0.43	EVTL	Vertical Aerospace	Pair Corr
0.36	CAE	CAE Inc	Pair Corr
0.84	CVU	CPI Aerostructures	Pair Corr
0.68	300395	Hubei Feilihua Quartz	Pair Corr
0.59	HII	Huntington Ingalls	Pair Corr
0.59	HXL	Hexcel	Pair Corr
0.57	RTX	Raytheon Technologies	Pair Corr
0.46	CAE	CAE Inc	Pair Corr
0.39	PKE	Park Electrochemical Earnings Call This Week	Pair Corr

Related Correlations Analysis

	RRX	WTS	GNRC	FLS	AOS	DCI	TTEK	GTLS	SPXC	CAE
RRX		0.46	0.35	-0.19	0.51	0.13	-0.03	0.0	-0.16	0.43	RRX
WTS	0.46		0.17	-0.18	0.46	0.14	0.01	-0.01	-0.19	0.74	WTS
GNRC	0.35	0.17		-0.71	0.34	-0.57	-0.38	-0.7	-0.55	0.09	GNRC
FLS	-0.19	-0.18	-0.71		-0.52	0.84	0.19	0.73	0.86	-0.14	FLS
AOS	0.51	0.46	0.34	-0.52		-0.28	-0.1	-0.28	-0.54	0.51	AOS
DCI	0.13	0.14	-0.57	0.84	-0.28		0.3	0.79	0.63	0.12	DCI
TTEK	-0.03	0.01	-0.38	0.19	-0.1	0.3		0.49	0.01	-0.06	TTEK
GTLS	0.0	-0.01	-0.7	0.73	-0.28	0.79	0.49		0.59	0.07	GTLS
SPXC	-0.16	-0.19	-0.55	0.86	-0.54	0.63	0.01	0.59		-0.19	SPXC
CAE	0.43	0.74	0.09	-0.14	0.51	0.12	-0.06	0.07	-0.19		CAE
	RRX	WTS	GNRC	FLS	AOS	DCI	TTEK	GTLS	SPXC	CAE

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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

SPXC	+ 0.86	FLS
DCI	+ 0.84	FLS
GTLS	+ 0.79	DCI
CAE	+ 0.74	WTS
GTLS	+ 0.73	FLS
SPXC	+ 0.63	DCI

High negative correlations

FLS	- 0.71	GNRC
GTLS	- 0.7	GNRC
DCI	- 0.57	GNRC
SPXC	- 0.55	GNRC
SPXC	- 0.54	AOS
AOS	- 0.52	FLS

Risk-Adjusted Indicators

There is a big difference between Parsons Stock performing well and Parsons Corp 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 Parsons Corp'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
RRX	1.98	0.02	(0.01)	0.19	2.41	(2.27)	4.06	(3.89)	10.42
WTS	1.03	(0.06)	(0.03)	0.02	1.38	(1.29)	2.75	(1.72)	9.37
GNRC	2.37	(0.39)	0.00	(0.09)	0.00	0.00	4.08	(5.41)	13.91
FLS	1.82	0.34	0.20	0.35	1.44	(2.22)	2.56	(2.79)	34.16
AOS	0.95	(0.10)	0.00	1.34	0.00	0.00	2.04	(2.21)	5.66
DCI	0.95	0.12	0.10	0.19	0.91	(1.04)	2.21	(1.84)	9.23
TTEK	1.47	0.02	(0.01)	0.11	1.75	(1.84)	2.15	(3.21)	21.35
GTLS	0.10	0.04	(0.24)	(1.92)	0.00	(0.12)	0.23	(0.18)	1.32
SPXC	1.73	0.21	0.07	7.68	1.77	(1.92)	3.71	(3.22)	17.00
CAE	1.21	0.07	0.05	0.13	1.48	(1.15)	2.90	(2.36)	7.39

Parsons Corp Corporate Management

Debra Fiori	Chief People Officer	Profile
Susan Balaguer	Chief Human Resource Officer	Profile
Letitia Long	Independent Director	Profile
James Shappell	Managing Chairman	Profile
Dana Turturro	Senior Acquisition	Profile

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