Parsons Corp Correlations

PSN Stock

USD 82.74 0.67 0.80%

The current 90-days correlation between Parsons Corp and Watts Water Technologies is 0.14 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Parsons Corp moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Parsons Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Parsons Corp Correlation With Market

Modest diversification

The correlation between Parsons Corp and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Parsons Corp and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Parsons Stock

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Parsons Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

To learn how to invest in Parsons Stock, please use our How to Invest in Parsons Corp guide.

Moving together with Parsons Stock

0.73	CW	Curtiss Wright	Pair Corr
0.63	EH	Ehang Holdings Buyout Trend	Pair Corr
0.79	GD	General Dynamics	Pair Corr
0.67	DCO	Ducommun Incorporated Earnings Call This Week	Pair Corr
0.74	HII	Huntington Ingalls Earnings Call This Week	Pair Corr
0.8	LHX	L3Harris Technologies Sell-off Trend	Pair Corr
0.79	LMT	Lockheed Martin	Pair Corr
0.8	NOC	Northrop Grumman	Pair Corr
0.61	NPK	National Presto Indu	Pair Corr
0.74	PKE	Park Electrochemical	Pair Corr
0.67	TXT	Textron Earnings Call Today	Pair Corr
0.65	VVX	V2X Inc	Pair Corr
0.84	HOVR	New Horizon Aircraft	Pair Corr
0.85	BBD-B	Bombardier Earnings Call This Week	Pair Corr
0.78	MRCY	Mercury Systems Earnings Call This Week	Pair Corr

Moving against Parsons Stock

0.49	CVU	CPI Aerostructures	Pair Corr
0.41	BA	Boeing	Pair Corr
0.45	600685	CSSC Offshore Marine	Pair Corr
0.45	ASTC	Astrotech Corp	Pair Corr
0.45	AXON	Axon Enterprise Earnings Call This Week	Pair Corr
0.38	TDG	Transdigm Group Earnings Call This Week	Pair Corr
0.38	LNDNF	Lundin Energy AB Earnings Call This Week	Pair Corr
0.37	ISSC	Innovative Solutions and	Pair Corr
0.37	FTG	Firan Technology	Pair Corr
0.34	SPR	Spirit Aerosystems	Pair Corr

Related Correlations Analysis

	WTS	GTLS	RRX	SPXC	DCI	AOS	CR	CAE	AIT	TTEK
WTS		0.28	-0.05	-0.26	0.76	0.37	-0.47	-0.37	-0.16	-0.3	WTS
GTLS	0.28		-0.39	-0.24	0.69	-0.15	-0.69	0.27	-0.51	-0.66	GTLS
RRX	-0.05	-0.39		0.05	-0.21	0.1	0.57	0.08	0.48	0.25	RRX
SPXC	-0.26	-0.24	0.05		-0.31	-0.19	0.55	0.3	0.23	0.24	SPXC
DCI	0.76	0.69	-0.21	-0.31		-0.09	-0.67	-0.13	-0.52	-0.69	DCI
AOS	0.37	-0.15	0.1	-0.19	-0.09		-0.09	-0.23	0.52	0.44	AOS
CR	-0.47	-0.69	0.57	0.55	-0.67	-0.09		0.2	0.61	0.53	CR
CAE	-0.37	0.27	0.08	0.3	-0.13	-0.23	0.2		-0.01	-0.28	CAE
AIT	-0.16	-0.51	0.48	0.23	-0.52	0.52	0.61	-0.01		0.73	AIT
TTEK	-0.3	-0.66	0.25	0.24	-0.69	0.44	0.53	-0.28	0.73		TTEK
	WTS	GTLS	RRX	SPXC	DCI	AOS	CR	CAE	AIT	TTEK

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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

DCI	+ 0.76	WTS
TTEK	+ 0.73	AIT
DCI	+ 0.69	GTLS
AIT	+ 0.61	CR
CR	+ 0.57	RRX
CR	+ 0.55	SPXC

High negative correlations

TTEK	- 0.69	DCI
CR	- 0.69	GTLS
CR	- 0.67	DCI
TTEK	- 0.66	GTLS
AIT	- 0.52	DCI
AIT	- 0.51	GTLS

Risk-Adjusted Indicators

There is a big difference between Parsons Stock performing well and Parsons Corp 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 Parsons Corp'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
WTS	1.03	0.03	0.02	0.12	1.10	(1.16)	2.16	(1.87)	6.13
GTLS	0.14	(0.01)	(0.51)	(0.06)	0.15	(0.14)	0.30	(0.31)	0.74
RRX	1.96	(0.27)	0.00	(0.01)	0.00	0.00	4.09	(4.07)	15.32
SPXC	1.25	0.14	0.04	0.60	1.50	(1.28)	2.53	(2.31)	12.32
DCI	0.93	0.13	0.14	0.22	0.82	(1.10)	2.28	(1.89)	11.07
AOS	0.97	(0.23)	0.00	(0.12)	0.00	0.00	2.50	(2.58)	7.18
CR	1.07	(0.15)	0.00	(0.03)	0.00	0.00	2.01	(2.28)	6.29
CAE	1.10	(0.10)	0.00	(0.03)	0.00	0.00	2.41	(2.45)	8.37
AIT	1.26	(0.23)	0.00	(0.07)	0.00	0.00	2.88	(2.41)	9.56
TTEK	1.21	(0.32)	0.00	(0.29)	0.00	0.00	2.11	(2.68)	6.44

Parsons Corp Corporate Management

Debra Fiori	Chief People Officer	Profile
Susan Balaguer	Chief Human Resource Officer	Profile
Letitia Long	Independent Director	Profile
James Shappell	Managing Chairman	Profile
Dana Turturro	Senior Acquisition	Profile

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