MSA Safety Correlations

MSA Stock

USD 158.52 2.48 1.54%

The current 90-days correlation between MSA Safety and Allegion PLC is 0.57 (i.e., Very weak diversification). The correlation of MSA Safety 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.

MSA Safety Correlation With Market

Very poor diversification

The correlation between MSA Safety and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MSA Safety and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with MSA Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in MSA Safety. 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 information on how to trade MSA Stock refer to our How to Trade MSA Stock guide.

Moving together with MSA Stock

0.65	FA	First Advantage Corp	Pair Corr
0.62	KC	Kingsoft Cloud Holdings Earnings Call Next Week	Pair Corr
0.79	DLHC	DLH Holdings Corp	Pair Corr
0.64	VCIG	VCI Global Limited	Pair Corr
0.82	VLTO	Veralto	Pair Corr
0.78	EXLS	ExlService Holdings	Pair Corr
0.7	DLX	Deluxe	Pair Corr
0.78	HNI	HNI Corp	Pair Corr
0.69	FVRR	Fiverr International	Pair Corr
0.71	PBI	Pitney Bowes	Pair Corr
0.72	YIBO	Planet Image Interna Buyout Trend	Pair Corr
0.66	INOD	Innodata	Pair Corr
0.65	LNZA	LanzaTech Global	Pair Corr
0.63	MATW	Matthews International	Pair Corr

Moving against MSA Stock

0.65	WNS	WNS Holdings	Pair Corr
0.4	ACU	Acme United	Pair Corr

Related Correlations Analysis

	ALLE	REZI	NL	BRC	BCO	MG	CIX
ALLE		0.31	0.59	0.41	0.52	-0.36	0.67	ALLE
REZI	0.31		-0.35	0.84	0.68	0.16	0.22	REZI
NL	0.59	-0.35		-0.23	-0.07	-0.26	0.41	NL
BRC	0.41	0.84	-0.23		0.6	0.16	0.23	BRC
BCO	0.52	0.68	-0.07	0.6		-0.12	0.63	BCO
MG	-0.36	0.16	-0.26	0.16	-0.12		-0.46	MG
CIX	0.67	0.22	0.41	0.23	0.63	-0.46		CIX
	ALLE	REZI	NL	BRC	BCO	MG	CIX

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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

BRC	+ 0.84	REZI
BCO	+ 0.68	REZI
CIX	+ 0.67	ALLE
CIX	+ 0.63	BCO
BCO	+ 0.6	BRC
NL	+ 0.59	ALLE

High negative correlations

CIX	- 0.46	MG
MG	- 0.36	ALLE
NL	- 0.35	REZI
MG	- 0.26	NL
BRC	- 0.23	NL
MG	- 0.12	BCO

Risk-Adjusted Indicators

There is a big difference between MSA Stock performing well and MSA Safety 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 MSA Safety'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
ALLE	1.44	0.23	0.11	0.21	2.02	(1.40)	2.88	(2.81)	12.48
REZI	2.48	0.16	0.03	0.03	3.61	(2.33)	5.36	(5.33)	16.53
NL	2.68	0.23	0.07	0.17	3.03	(3.02)	5.64	(5.29)	16.29
BRC	1.39	0.01	0.04	(0.89)	2.01	(1.41)	2.76	(3.32)	8.59
BCO	1.71	0.06	0.03	(0.01)	2.38	(1.76)	3.13	(4.80)	11.93
MG	2.04	(0.24)	0.00	(0.37)	0.00	0.00	3.33	(4.08)	29.67
CIX	2.66	0.26	0.08	0.28	3.11	(3.13)	5.10	(5.45)	27.83

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