Federal Signal Correlations

FSS Stock

USD 108.24 1.06 0.99%

The current 90-days correlation between Federal Signal and Zurn Elkay Water is 0.56 (i.e., Very weak diversification). The correlation of Federal Signal 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Federal Signal Correlation With Market

Very weak diversification

The correlation between Federal Signal and DJI is 0.55 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Federal Signal and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Federal Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Federal Signal. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state.

For more information on how to buy Federal Stock please use our How to Invest in Federal Signal guide.

Moving together with Federal Stock

0.92	ARQ	Arq Inc	Pair Corr
0.91	PCT	Purecycle Technologies	Pair Corr
0.85	ZWS	Zurn Elkay Water	Pair Corr
0.89	ADUR	Aduro Clean Technologies	Pair Corr
0.88	PCTTW	PureCycle Technologies	Pair Corr
0.85	PCTTU	Purecycle Technologies	Pair Corr
0.95	CECO	CECO Environmental Corp	Pair Corr
0.91	J	Jacobs Solutions	Pair Corr
0.89	R	Ryder System Earnings Call This Week	Pair Corr
0.91	AL	Air Lease	Pair Corr
0.81	AP	Ampco Pittsburgh	Pair Corr
0.89	AZ	A2Z Smart Technologies	Pair Corr
0.91	BA	Boeing	Pair Corr
0.85	BE	Bloom Energy Corp	Pair Corr
0.75	BV	BrightView Holdings	Pair Corr
0.89	BW	Babcock Wilcox Enter	Pair Corr
0.81	CP	Canadian Pacific Railway	Pair Corr
0.97	CR	Crane Company	Pair Corr
0.96	CW	Curtiss Wright	Pair Corr
0.85	DE	Deere Company	Pair Corr
0.95	DY	Dycom Industries	Pair Corr
0.74	FA	First Advantage Corp	Pair Corr
0.76	GD	General Dynamics Earnings Call This Week	Pair Corr
0.93	GE	GE Aerospace Earnings Call This Week	Pair Corr
0.69	HY	Hyster Yale Materials	Pair Corr
0.94	IR	Ingersoll Rand	Pair Corr

Moving against Federal Stock

0.67	ERII	Energy Recovery	Pair Corr
0.55	G	Genpact Limited	Pair Corr
0.36	CHNR	China Natural Resources	Pair Corr
0.5	GP	GreenPower Motor	Pair Corr

Related Correlations Analysis

	ZWS	ERII	CECO	SCWO	GFF	FIX	FWRD	AIN
ZWS		-0.64	0.85	0.06	0.54	0.89	0.65	0.74	ZWS
ERII	-0.64		-0.64	-0.39	-0.2	-0.66	-0.39	-0.54	ERII
CECO	0.85	-0.64		0.04	0.63	0.96	0.81	0.74	CECO
SCWO	0.06	-0.39	0.04		-0.56	0.02	-0.38	-0.2	SCWO
GFF	0.54	-0.2	0.63	-0.56		0.66	0.8	0.69	GFF
FIX	0.89	-0.66	0.96	0.02	0.66		0.84	0.82	FIX
FWRD	0.65	-0.39	0.81	-0.38	0.8	0.84		0.82	FWRD
AIN	0.74	-0.54	0.74	-0.2	0.69	0.82	0.82		AIN
	ZWS	ERII	CECO	SCWO	GFF	FIX	FWRD	AIN

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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	+ 0.96	CECO
FIX	+ 0.89	ZWS
CECO	+ 0.85	ZWS
FWRD	+ 0.84	FIX
AIN	+ 0.82	FIX
AIN	+ 0.82	FWRD

High negative correlations

FIX	- 0.66	ERII
CECO	- 0.64	ERII
ERII	- 0.64	ZWS
GFF	- 0.56	SCWO
AIN	- 0.54	ERII
FWRD	- 0.39	ERII

Risk-Adjusted Indicators

There is a big difference between Federal Stock performing well and Federal Signal 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 Federal Signal'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
ZWS	1.23	0.20	0.20	0.28	0.87	(1.44)	3.91	(1.81)	8.67
ERII	1.77	(0.26)	0.00	(0.08)	0.00	0.00	2.85	(2.42)	21.40
CECO	2.36	0.50	0.24	0.43	1.94	(2.86)	5.59	(3.76)	20.71
SCWO	7.23	(0.20)	(0.01)	0.02	8.74	(8.58)	15.00	(17.07)	65.27
GFF	1.53	0.20	0.01	(0.47)	1.86	(1.61)	3.12	(3.31)	10.17
FIX	1.58	0.52	0.30	0.51	1.25	(1.83)	4.51	(2.60)	8.48
FWRD	3.21	0.71	0.24	0.43	2.74	(3.63)	8.01	(4.99)	25.09
AIN	1.22	(0.03)	(0.01)	0.10	1.66	(1.18)	3.02	(2.45)	9.44

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