Construction Partners Correlations

ROAD Stock

USD 127.68 1.04 0.82%

The current 90-days correlation between Construction Partners and MYR Group is 0.39 (i.e., Weak diversification). The correlation of Construction Partners 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.

Construction Partners Correlation With Market

Poor diversification

The correlation between Construction Partners and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Construction Partners and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Construction Stock

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

For information on how to trade Construction Stock refer to our How to Trade Construction Stock guide.

Moving together with Construction Stock

0.65	EN	Bouygues SA	Pair Corr
0.71	ACA	Arcosa Inc	Pair Corr
0.72	APG	Api Group Corp	Pair Corr
0.73	GVA	Granite Construction Earnings Call Tomorrow	Pair Corr
0.81	LMB	Limbach Holdings	Pair Corr
0.66	MTZ	MasTec Inc	Pair Corr
0.75	TPC	Tutor Perini	Pair Corr
0.67	GLDD	Great Lakes Dredge Earnings Call This Week	Pair Corr
0.72	MYRG	MYR Group	Pair Corr
0.75	BDT	Bird Construction	Pair Corr
0.7	PRIM	Primoris Services	Pair Corr
0.62	CQY	Construction Partners	Pair Corr
0.71	SHIM	Shimmick Common	Pair Corr
0.73	ARE	Aecon Group	Pair Corr

Moving against Construction Stock

0.66	DRT	DIRTT Environmental	Pair Corr
0.57	FGL	Founder Group Limited Upward Rally	Pair Corr
0.4	SLND	Southland Holdings	Pair Corr

Related Correlations Analysis

	MYRG	GVA	TPC	STRL	EME	FIX	PRIM	MTRX	GLDD	KBR
MYRG		0.65	0.86	0.76	0.97	0.94	0.93	0.54	0.85	0.49	MYRG
GVA	0.65		0.88	0.12	0.7	0.77	0.78	0.29	0.85	0.4	GVA
TPC	0.86	0.88		0.47	0.89	0.94	0.94	0.49	0.93	0.5	TPC
STRL	0.76	0.12	0.47		0.75	0.65	0.62	0.41	0.45	0.24	STRL
EME	0.97	0.7	0.89	0.75		0.97	0.95	0.56	0.87	0.51	EME
FIX	0.94	0.77	0.94	0.65	0.97		0.97	0.51	0.91	0.54	FIX
PRIM	0.93	0.78	0.94	0.62	0.95	0.97		0.56	0.94	0.54	PRIM
MTRX	0.54	0.29	0.49	0.41	0.56	0.51	0.56		0.53	0.46	MTRX
GLDD	0.85	0.85	0.93	0.45	0.87	0.91	0.94	0.53		0.56	GLDD
KBR	0.49	0.4	0.5	0.24	0.51	0.54	0.54	0.46	0.56		KBR
	MYRG	GVA	TPC	STRL	EME	FIX	PRIM	MTRX	GLDD	KBR

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Risk-Adjusted Indicators

There is a big difference between Construction Stock performing well and Construction Partners 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 Construction Partners' 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
MYRG	2.07	0.12	0.05	0.17	2.45	(2.18)	4.31	(4.84)	12.17
GVA	1.04	0.32	0.28	0.45	0.76	(1.30)	2.62	(1.47)	5.83
TPC	1.82	0.28	0.12	0.33	2.16	(1.99)	4.29	(4.25)	9.98
STRL	2.96	(0.09)	0.00	0.04	4.57	(2.81)	5.34	(6.91)	19.82
EME	1.61	0.13	0.07	0.19	1.97	(1.59)	3.66	(3.76)	9.21
FIX	2.34	0.31	0.09	0.30	3.29	(2.23)	5.70	(6.15)	14.99
PRIM	2.24	0.24	0.09	0.24	2.67	(2.35)	5.61	(4.72)	14.82
MTRX	2.41	(0.54)	0.00	(0.23)	0.00	0.00	3.71	(5.41)	21.48
GLDD	1.77	0.28	0.17	0.27	1.75	(2.07)	3.11	(3.10)	16.08
KBR	1.27	(0.05)	(0.02)	0.04	1.53	(1.50)	3.30	(2.56)	10.41

Construction Partners Corporate Management

Gregory Hoffman	Chief Officer	Profile
Todd Andrews	Chief Accounting Officer	Profile
Ned III	Executive Board	Profile
Will Pedersen	I Riverworks	Profile
Robert Baugnon	Senior Administration	Profile

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