NV5 Global Correlations

Summary

NVEEDelisted Stock

USD 22.56 0.18 0.80%

The current 90-days correlation between NV5 Global and Construction Partners is 0.04 (i.e., Significant diversification). The correlation of NV5 Global 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.

NV5 Global Correlation With Market

Significant diversification

The correlation between NV5 Global and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NV5 Global and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in commodities.

Moving together with NV5 Stock

0.62	FTAI	Fortress Transp Infra	Pair Corr
0.67	GM	General Motors Aggressive Push	Pair Corr
0.84	DAC	Danaos	Pair Corr
0.91	MP	MP Materials Corp	Pair Corr
0.64	TRMB	Trimble	Pair Corr
0.74	AUXXF	Allegiant Gold	Pair Corr

Moving against NV5 Stock

0.72	ADTX	Aditxt Inc	Pair Corr
0.69	APVO	Aptevo Therapeutics	Pair Corr
0.54	TRNR	Interactive Strength	Pair Corr
0.34	NKLA	Nikola Corp	Pair Corr

Related Correlations Analysis

	EME	FIX	PRIM	GVA	ROAD	MYRG	GLDD	KBR	MTRX	BLD
EME		0.94	0.82	0.69	0.49	0.14	0.11	0.42	0.18	0.78	EME
FIX	0.94		0.93	0.79	0.68	-0.05	0.34	0.49	-0.08	0.74	FIX
PRIM	0.82	0.93		0.91	0.81	-0.18	0.43	0.63	-0.14	0.81	PRIM
GVA	0.69	0.79	0.91		0.82	-0.29	0.48	0.74	-0.02	0.86	GVA
ROAD	0.49	0.68	0.81	0.82		-0.29	0.71	0.48	-0.37	0.52	ROAD
MYRG	0.14	-0.05	-0.18	-0.29	-0.29		-0.37	-0.4	0.5	-0.21	MYRG
GLDD	0.11	0.34	0.43	0.48	0.71	-0.37		0.44	-0.39	0.1	GLDD
KBR	0.42	0.49	0.63	0.74	0.48	-0.4	0.44		0.17	0.72	KBR
MTRX	0.18	-0.08	-0.14	-0.02	-0.37	0.5	-0.39	0.17		0.23	MTRX
BLD	0.78	0.74	0.81	0.86	0.52	-0.21	0.1	0.72	0.23		BLD
	EME	FIX	PRIM	GVA	ROAD	MYRG	GLDD	KBR	MTRX	BLD

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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	+ 0.94	EME
PRIM	+ 0.93	FIX
GVA	+ 0.91	PRIM
BLD	+ 0.86	GVA
PRIM	+ 0.82	EME
ROAD	+ 0.82	GVA

High negative correlations

KBR	- 0.4	MYRG
MTRX	- 0.39	GLDD
GLDD	- 0.37	MYRG
MTRX	- 0.37	ROAD
MYRG	- 0.29	ROAD
MYRG	- 0.29	GVA

Risk-Adjusted Indicators

There is a big difference between NV5 Stock performing well and NV5 Global 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 NV5 Global'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
EME	1.27	0.28	0.21	0.39	1.02	(1.53)	2.91	(2.09)	12.53
FIX	1.97	0.65	0.38	0.80	1.05	(2.38)	3.76	(2.44)	26.02
PRIM	1.74	0.75	0.49	0.74	0.87	(2.15)	3.95	(2.51)	19.17
GVA	1.07	0.20	0.17	0.33	0.80	(1.21)	2.34	(1.75)	10.12
ROAD	2.06	0.19	0.08	0.27	2.34	(2.04)	3.98	(4.31)	16.43
MYRG	1.64	0.06	0.03	0.17	1.76	(1.87)	3.20	(3.02)	8.74
GLDD	1.49	(0.16)	0.00	(0.02)	0.00	0.00	2.63	(3.04)	11.03
KBR	1.16	(0.10)	0.00	(0.02)	0.00	0.00	2.95	(2.15)	8.56
MTRX	2.04	(0.25)	0.00	(0.01)	0.00	0.00	3.68	(3.88)	19.34
BLD	1.71	0.14	0.14	0.18	1.39	(2.13)	5.15	(2.78)	10.78

NV5 Global Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with NV5 Global stock to make a market-neutral strategy. Peer analysis of NV5 Global could also be used in its relative valuation, which is a method of valuing NV5 Global by comparing valuation metrics with similar companies.

EMCOR Group Comfort Systems USA Primoris Services Granite Construction Incorporated Construction Partners MYR Group Great Lakes Dredge KBR Inc Matrix Service Co Topbuild Corp Api Group Corp Dycom Industries American Airlines Group Alcoa Corp Apple Inc

Risk & Return

Correlation

NV5 Global Corporate Management

Todd George	Chief West	Profile
Carl PE	Chief Officer	Profile
Alexander PE	Chief Infrastructure	Profile
Edward Codispoti	Chief Officer	Profile
Ben Heraud	CoChief Officer	Profile

Still Interested in NV5 Global?

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