Badger Meter Correlations

33B Stock

EUR 152.90 0.40 0.26%

The current 90-days correlation between Badger Meter and CanSino Biologics is 0.11 (i.e., Average diversification). The correlation of Badger Meter 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.

Badger Meter Correlation With Market

Significant diversification

The correlation between Badger Meter and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Badger Meter and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Badger Meter could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Badger Meter when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Badger Meter - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Badger Meter to buy it.

Moving together with Badger Stock

0.82

ADH2

Air Canada

Pair Corr

Moving against Badger Stock

0.88	NVAW	Delta Electronics Public	Pair Corr
0.85	OSR	OSRAM LICHT N	Pair Corr
0.83	27J	Impinj Inc	Pair Corr
0.81	27J	Impinj Inc	Pair Corr
0.72	1ZB	Bloom Energy	Pair Corr
0.56	MTO	METTLER TOLEDO INTL	Pair Corr
0.56	MTO	Mitie Group PLC	Pair Corr
0.52	YEC0	YASKAWA ELEC UNSP	Pair Corr
0.52	MTO	METTLER TOLEDO INTL	Pair Corr
0.38	49V	VERTIV HOLCL A	Pair Corr
0.74	1IZ1	Scottish Mortgage	Pair Corr
0.74	4OQ1	AGNC INVESTMENT	Pair Corr
0.72	1XZ	Ping An Healthcare	Pair Corr
0.68	FRA	Fraport AG	Pair Corr
0.67	LTR	Loews Corp	Pair Corr
0.66	7NX	NEXON	Pair Corr
0.64	TLD	Tinka Resources Split	Pair Corr
0.59	G51	Genscript Biotech	Pair Corr
0.59	BNN	BRAIN Biotech AG	Pair Corr
0.51	5TJ	COMPUTER MODELLING	Pair Corr
0.49	YTR	YTC RESOURCES	Pair Corr
0.48	CNM1	Carnegie Clean Energy	Pair Corr
0.44	TSFA	Taiwan Semiconductor Earnings Call Next Week	Pair Corr
0.86	TM9	NorAm Drilling AS	Pair Corr
0.82	LHL1	Lenovo Group Limited	Pair Corr
0.82	LHL	Lenovo Group Limited	Pair Corr
0.8	VEFW	MARKET VECTR RETAIL	Pair Corr
0.72	WJ4	Warrior Met Coal	Pair Corr
0.69	E6Z	AECOM TECHNOLOGY	Pair Corr
0.68	AY7A	ASM Pacific Technology	Pair Corr
0.68	RYC	ROYAL BANK CANADA	Pair Corr

Related Correlations Analysis

	CJH	HYEA	EZM	TP3	S5H0	VMC	MMX
CJH		-0.71	0.77	0.61	-0.32	0.85	0.9	CJH
HYEA	-0.71		-0.49	-0.54	0.45	-0.8	-0.75	HYEA
EZM	0.77	-0.49		0.64	-0.36	0.75	0.76	EZM
TP3	0.61	-0.54	0.64		-0.02	0.61	0.64	TP3
S5H0	-0.32	0.45	-0.36	-0.02		-0.45	-0.36	S5H0
VMC	0.85	-0.8	0.75	0.61	-0.45		0.96	VMC
MMX	0.9	-0.75	0.76	0.64	-0.36	0.96		MMX
	CJH	HYEA	EZM	TP3	S5H0	VMC	MMX

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

MMX	+ 0.96	VMC
MMX	+ 0.9	CJH
VMC	+ 0.85	CJH
EZM	+ 0.77	CJH
MMX	+ 0.76	EZM
VMC	+ 0.75	EZM

High negative correlations

VMC	- 0.8	HYEA
MMX	- 0.75	HYEA
HYEA	- 0.71	CJH
TP3	- 0.54	HYEA
EZM	- 0.49	HYEA
VMC	- 0.45	S5H0

Risk-Adjusted Indicators

There is a big difference between Badger Stock performing well and Badger Meter 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 Badger Meter'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
CJH	2.66	0.65	0.21	1.35	2.44	(3.42)	7.47	(5.01)	16.20
HYEA	1.78	(0.18)	0.00	(0.58)	0.00	0.00	3.04	(3.91)	13.83
EZM	1.52	0.26	0.16	0.31	1.32	(1.83)	3.46	(2.77)	11.86
TP3	0.91	0.05	0.02	0.18	0.90	(1.20)	2.67	(1.65)	7.73
S5H0	1.64	(0.16)	0.00	3.73	0.00	0.00	3.39	(2.60)	18.41
VMC	1.05	0.19	0.08	(2.86)	0.96	(1.48)	2.65	(1.74)	5.82
MMX	0.96	0.15	0.09	0.33	1.04	(1.07)	2.34	(1.70)	8.39

Be your own money manager

Our tools can tell you how much better you can do entering a position in Badger Meter without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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