Mueller Water Correlations

MWA Stock

USD 22.88 0.05 0.22%

The current 90-days correlation between Mueller Water Products and Enerpac Tool Group is 0.54 (i.e., Very weak diversification). The correlation of Mueller Water 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.

Mueller Water Correlation With Market

Modest diversification

The correlation between Mueller Water Products and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mueller Water Products and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Mueller Water Products. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in housing.

Moving together with Mueller Stock

0.83	CR	Crane Company	Pair Corr
0.89	HI	Hillenbrand	Pair Corr
0.75	IR	Ingersoll Rand	Pair Corr
0.96	PH	Parker Hannifin	Pair Corr
0.9	EPAC	Enerpac Tool Group	Pair Corr
0.65	FELE	Franklin Electric	Pair Corr
0.89	AME	Ametek Inc	Pair Corr
0.94	CMI	Cummins	Pair Corr
0.68	CXT	Crane NXT	Pair Corr
0.87	DOV	Dover	Pair Corr
0.93	EMR	Emerson Electric	Pair Corr
0.91	ETN	Eaton PLC	Pair Corr
0.94	FLS	Flowserve	Pair Corr
0.82	GGG	Graco Inc	Pair Corr
0.9	GHM	Graham	Pair Corr
0.94	GRC	Gorman Rupp	Pair Corr
0.82	IEX	IDEX	Pair Corr
0.74	ITT	ITT Inc	Pair Corr
0.85	ITW	Illinois Tool Works	Pair Corr
0.75	JBT	John Bean Technologies	Pair Corr
0.93	KAI	Kadant Inc	Pair Corr
0.76	MIR	Mirion Technologies	Pair Corr
0.74	XMTR	Xometry	Pair Corr
0.77	NNE	Nano Nuclear Energy	Pair Corr
0.78	NPO	Enpro Industries	Pair Corr
0.93	PNR	Pentair PLC	Pair Corr
0.82	ROK	Rockwell Automation	Pair Corr
0.84	SMR	Nuscale Power Corp Buyout Trend	Pair Corr
0.93	SXI	Standex International	Pair Corr
0.73	THR	Thermon Group Holdings	Pair Corr

Moving against Mueller Stock

0.67	AOS	Smith AO	Pair Corr
0.6	MKDWW	MKDWELL Tech Warrants	Pair Corr
0.57	LASE	Laser Photonics	Pair Corr
0.48	XYL	Xylem Inc	Pair Corr
0.43	TNC	Tennant Company	Pair Corr
0.42	BW-PA	Babcock Wilcox Enter	Pair Corr
0.32	GTEC	Greenland Acquisition Earnings Call This Week	Pair Corr

Related Correlations Analysis

	EPAC	LXFR	JBT	CSWI	ITT	HURC	CYD	OFLX	NPO	FELE
EPAC		0.86	0.78	0.8	0.6	0.5	-0.82	0.24	0.6	0.57	EPAC
LXFR	0.86		0.72	0.69	0.51	0.58	-0.76	0.35	0.47	0.46	LXFR
JBT	0.78	0.72		0.46	0.3	0.34	-0.88	-0.2	0.65	0.16	JBT
CSWI	0.8	0.69	0.46		0.85	0.68	-0.6	0.34	0.59	0.81	CSWI
ITT	0.6	0.51	0.3	0.85		0.61	-0.45	0.27	0.63	0.91	ITT
HURC	0.5	0.58	0.34	0.68	0.61		-0.27	0.37	0.27	0.49	HURC
CYD	-0.82	-0.76	-0.88	-0.6	-0.45	-0.27		0.2	-0.76	-0.33	CYD
OFLX	0.24	0.35	-0.2	0.34	0.27	0.37	0.2		-0.38	0.41	OFLX
NPO	0.6	0.47	0.65	0.59	0.63	0.27	-0.76	-0.38		0.47	NPO
FELE	0.57	0.46	0.16	0.81	0.91	0.49	-0.33	0.41	0.47		FELE
	EPAC	LXFR	JBT	CSWI	ITT	HURC	CYD	OFLX	NPO	FELE

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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

FELE	+ 0.91	ITT
LXFR	+ 0.86	EPAC
ITT	+ 0.85	CSWI
FELE	+ 0.81	CSWI
CSWI	+ 0.8	EPAC
JBT	+ 0.78	EPAC

High negative correlations

CYD	- 0.88	JBT
CYD	- 0.82	EPAC
NPO	- 0.76	CYD
CYD	- 0.76	LXFR
CYD	- 0.6	CSWI
CYD	- 0.45	ITT

Risk-Adjusted Indicators

There is a big difference between Mueller Stock performing well and Mueller Water 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 Mueller Water'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
EPAC	1.36	0.01	0.00	0.07	1.66	(1.44)	2.84	(2.90)	12.71
LXFR	1.70	0.11	0.04	(0.47)	1.68	(2.20)	3.46	(2.97)	18.80
JBT	1.73	0.55	0.26	(1.70)	1.44	(1.95)	3.67	(3.06)	21.43
CSWI	1.36	(0.02)	(0.02)	0.00	1.69	(1.56)	2.95	(2.42)	11.53
ITT	1.04	(0.06)	0.00	(0.01)	0.00	0.00	2.14	(1.96)	9.57
HURC	1.80	0.05	0.00	(0.36)	1.89	(2.11)	4.27	(3.00)	21.98
CYD	1.57	(0.34)	0.00	(1.59)	0.00	0.00	3.33	(3.45)	10.93
OFLX	1.51	(0.25)	0.00	(2.32)	0.00	0.00	3.44	(2.69)	11.71
NPO	1.45	0.12	0.04	1.38	1.89	(1.50)	2.56	(2.50)	17.55
FELE	1.10	(0.10)	0.00	(0.03)	0.00	0.00	2.20	(2.14)	13.66

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