MSA Safety Correlations

MSA Stock

USD 174.06 0.86 0.49%

The current 90-days correlation between MSA Safety and Allegion PLC is 0.6 (i.e., Poor 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

Poor diversification

The correlation between MSA Safety and DJI is 0.65 (i.e., 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

0.92	KAR	KAR Auction Services	Pair Corr
0.85	MLKN	MillerKnoll	Pair Corr
0.73	CMPR	Cimpress NV Earnings Call This Week	Pair Corr
0.93	J	Jacobs Solutions	Pair Corr
0.87	R	Ryder System Earnings Call This Week	Pair Corr
0.74	DIST	Distoken Acquisition	Pair Corr
0.87	AL	Air Lease	Pair Corr
0.77	AP	Ampco Pittsburgh	Pair Corr
0.85	AZ	A2Z Smart Technologies	Pair Corr
0.91	BA	Boeing Earnings Call This Week	Pair Corr
0.86	BE	Bloom Energy Corp	Pair Corr
0.67	BV	BrightView Holdings	Pair Corr
0.85	BW	Babcock Wilcox Enter	Pair Corr
0.87	BZ	Kanzhun Ltd ADR	Pair Corr
0.72	CP	Canadian Pacific Railway Earnings Call This Week	Pair Corr
0.94	CR	Crane Company Earnings Call This Week	Pair Corr
0.93	CW	Curtiss Wright	Pair Corr
0.76	DE	Deere Company	Pair Corr
0.94	DY	Dycom Industries	Pair Corr
0.68	FA	First Advantage Corp	Pair Corr
0.77	GD	General Dynamics Earnings Call Tomorrow	Pair Corr
0.93	GE	GE Aerospace Earnings Call Today	Pair Corr
0.66	HY	Hyster Yale Materials	Pair Corr
0.93	IR	Ingersoll Rand Earnings Call This Week	Pair Corr
0.91	KE	Kimball Electronics	Pair Corr
0.68	LZ	LegalZoom	Pair Corr
0.94	PH	Parker Hannifin	Pair Corr

Moving against MSA Stock

0.83	VIRC	Virco Manufacturing	Pair Corr
0.39	DSS	DSS Inc	Pair Corr
0.76	PC	Premium Catering Trending	Pair Corr
0.72	NL	NL Industries	Pair Corr
0.6	MG	Mistras Group Earnings Call This Week	Pair Corr
0.53	GP	GreenPower Motor	Pair Corr

Related Correlations Analysis

	ALLE	REZI	NL	BRC	BCO	MG	CIX
ALLE		0.84	-0.39	0.25	0.47	-0.43	0.29	ALLE
REZI	0.84		-0.73	0.05	0.27	-0.71	-0.08	REZI
NL	-0.39	-0.73		0.52	-0.08	0.58	0.3	NL
BRC	0.25	0.05	0.52		0.12	-0.06	0.25	BRC
BCO	0.47	0.27	-0.08	0.12		0.36	0.57	BCO
MG	-0.43	-0.71	0.58	-0.06	0.36		0.43	MG
CIX	0.29	-0.08	0.3	0.25	0.57	0.43		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

REZI	+ 0.84	ALLE
MG	+ 0.58	NL
CIX	+ 0.57	BCO
BRC	+ 0.52	NL
BCO	+ 0.47	ALLE
CIX	+ 0.43	MG

High negative correlations

NL	- 0.73	REZI
MG	- 0.71	REZI
MG	- 0.43	ALLE
NL	- 0.39	ALLE
BCO	- 0.08	NL
CIX	- 0.08	REZI

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	1.10	0.11	0.10	0.24	0.93	(1.19)	2.87	(2.10)	12.63
REZI	1.73	0.50	0.33	0.52	1.12	(2.12)	4.99	(2.41)	12.63
NL	2.31	(0.32)	0.00	(0.21)	0.00	0.00	4.52	(5.26)	15.17
BRC	1.00	(0.08)	(0.07)	0.04	1.54	(0.99)	2.50	(1.85)	9.01
BCO	1.13	(0.02)	(0.02)	0.11	1.33	(1.17)	2.80	(1.93)	7.93
MG	1.64	(0.30)	0.00	(0.28)	0.00	0.00	2.84	(3.70)	19.99
CIX	2.15	(0.10)	(0.04)	0.04	2.25	(2.89)	4.83	(4.27)	12.72

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