Federal Signal Correlations

FSS Stock

USD 113.30 0.00 0.00%

The current 90-days correlation between Federal Signal and Zurn Elkay Water is 0.54 (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

Weak diversification

The correlation between Federal Signal and DJI is 0.39 (i.e., 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 real.

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

Moving together with Federal Stock

0.79	GP	GreenPower Motor	Pair Corr
0.63	002283	Tianrun Crankshaft	Pair Corr
0.66	000868	Anhui Ankai Automobile	Pair Corr
0.65	600761	Anhui Heli	Pair Corr
0.72	WPRT	Westport Fuel Systems	Pair Corr
0.62	RPM	RPM Automotive Group	Pair Corr
0.82	ALG	Alamo Group	Pair Corr
0.63	BNC	CEA Industries Symbol Change	Pair Corr
0.78	MLR	Miller Industries	Pair Corr
0.61	OSK	Oshkosh	Pair Corr
0.7	TEX	Terex	Pair Corr
0.71	000880	Weichai Heavy Machinery	Pair Corr
0.65	002097	Sunward Intelligent	Pair Corr
0.69	HCAI	Huachen AI Parking	Pair Corr
0.63	600967	Inner Mongolia First	Pair Corr
0.8	AFN	Ag Growth International Earnings Call This Week	Pair Corr

Moving against Federal Stock

0.72	CMI	Cummins	Pair Corr
0.6	CAT	Caterpillar	Pair Corr
0.57	600984	Shaanxi Construction	Pair Corr
0.46	300837	Zhejiang Zhe Kuang	Pair Corr
0.65	RAL	Ralliant Common	Pair Corr
0.55	GWPD	GP Solutions	Pair Corr
0.54	WAB	Westinghouse Air Brake	Pair Corr
0.46	000157	Zoomlion Heavy Industry	Pair Corr
0.4	001360	Nanchang Mineral Systems	Pair Corr
0.36	MTW	Manitowoc	Pair Corr
0.35	600710	Sumec Corp	Pair Corr
0.31	000528	Guangxi Liugong Machinery	Pair Corr

Related Correlations Analysis

	ZWS	ESAB	MOG-A	TTC	R	RYAAY	SSD	IESC	ADT
ZWS		0.04	0.5	0.26	0.26	0.55	0.13	0.48	-0.14	ZWS
ESAB	0.04		-0.04	0.45	0.12	-0.06	0.64	0.1	0.62	ESAB
MOG-A	0.5	-0.04		0.2	0.59	0.86	-0.12	0.72	-0.39	MOG-A
TTC	0.26	0.45	0.2		0.57	0.06	0.44	0.04	0.54	TTC
R	0.26	0.12	0.59	0.57		0.31	0.0	0.41	0.12	R
RYAAY	0.55	-0.06	0.86	0.06	0.31		-0.26	0.56	-0.57	RYAAY
SSD	0.13	0.64	-0.12	0.44	0.0	-0.26		0.17	0.68	SSD
IESC	0.48	0.1	0.72	0.04	0.41	0.56	0.17		-0.18	IESC
ADT	-0.14	0.62	-0.39	0.54	0.12	-0.57	0.68	-0.18		ADT
	ZWS	ESAB	MOG-A	TTC	R	RYAAY	SSD	IESC	ADT

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

RYAAY	+ 0.86	MOG-A
IESC	+ 0.72	MOG-A
ADT	+ 0.68	SSD
SSD	+ 0.64	ESAB
ADT	+ 0.62	ESAB
R	+ 0.59	MOG-A

High negative correlations

ADT	- 0.57	RYAAY
ADT	- 0.39	MOG-A
SSD	- 0.26	RYAAY
ADT	- 0.18	IESC
ADT	- 0.14	ZWS
SSD	- 0.12	MOG-A

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	1.02	(0.04)	(0.03)	0.03	1.28	(1.00)	2.02	(2.36)	6.90
ESAB	1.40	(0.01)	0.00	0.06	1.81	(1.48)	3.77	(2.62)	10.19
MOG-A	1.23	0.25	0.21	0.24	1.02	(1.47)	3.33	(1.90)	10.06
TTC	1.12	(0.01)	(0.01)	0.06	1.14	(1.49)	2.36	(2.08)	13.49
R	1.37	0.01	0.01	0.07	3.13	(1.12)	3.54	(4.23)	14.25
RYAAY	1.22	0.32	0.24	0.42	0.92	(1.41)	4.03	(1.93)	6.85
SSD	1.25	(0.18)	0.00	(0.10)	0.00	0.00	2.16	(2.15)	9.74
IESC	2.78	(0.08)	0.02	0.05	4.01	(2.85)	5.82	(7.94)	25.84
ADT	0.98	(0.15)	0.00	(0.08)	0.00	0.00	1.76	(1.72)	10.48

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