Stantec Correlations

STN Stock

USD 106.28 1.00 0.95%

The current 90-days correlation between Stantec and EMCOR Group is 0.58 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Stantec moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Stantec moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Stantec Correlation With Market

Significant diversification

The correlation between Stantec and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Stantec and DJI in the same portfolio, assuming nothing else is changed.

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Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Stantec. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

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

Moving together with Stantec Stock

0.64	GFL	Gfl Environmental	Pair Corr
0.69	HNI	HNI Corp	Pair Corr
0.91	III	Information Services	Pair Corr
0.85	FVRR	Fiverr International	Pair Corr
0.79	ZONE	CleanCore Solutions Trending	Pair Corr
0.62	TOMZ	TOMI Environmental	Pair Corr
0.95	TTEK	Tetra Tech	Pair Corr
0.78	CSGS	CSG Systems International	Pair Corr
0.69	J	Jacobs Solutions	Pair Corr
0.69	R	Ryder System	Pair Corr
0.8	AL	Air Lease	Pair Corr
0.9	AP	Ampco Pittsburgh	Pair Corr
0.91	AZ	A2Z Smart Technologies	Pair Corr
0.8	BA	Boeing	Pair Corr
0.8	BV	BrightView Holdings	Pair Corr
0.92	CP	Canadian Pacific Railway	Pair Corr
0.83	CR	Crane Company	Pair Corr
0.88	CW	Curtiss Wright	Pair Corr
0.74	DE	Deere Company	Pair Corr

Moving against Stantec Stock

0.76	CDTG	CDT Environmental	Pair Corr
0.71	MAN	ManpowerGroup	Pair Corr
0.68	KFRC	Kforce Inc	Pair Corr
0.67	ASGN	ASGN Inc	Pair Corr
0.65	HSON	Hudson Global	Pair Corr
0.48	KC	Kingsoft Cloud Holdings	Pair Corr
0.48	ACCO	Acco Brands	Pair Corr
0.48	BLMZ	BloomZ Ordinary Shares	Pair Corr
0.37	CNDT	Conduent Tech Boost	Pair Corr
0.31	DLX	Deluxe	Pair Corr
0.8	MG	Mistras Group	Pair Corr
0.63	HI	Hillenbrand	Pair Corr
0.48	GP	GreenPower Motor	Pair Corr
0.42	OP	Oceanpal	Pair Corr
0.41	EH	Ehang Holdings	Pair Corr
0.37	TE	T1 Energy Symbol Change	Pair Corr

Related Correlations Analysis

	EME	FIX	PRIM	GVA	ROAD	ACM	MYRG	BLD	APG	DY
EME		0.99	0.93	0.96	0.97	0.98	0.88	-0.15	0.89	0.83	EME
FIX	0.99		0.89	0.97	0.98	0.98	0.87	-0.22	0.87	0.84	FIX
PRIM	0.93	0.89		0.82	0.86	0.92	0.84	-0.01	0.86	0.73	PRIM
GVA	0.96	0.97	0.82		0.98	0.95	0.82	-0.26	0.83	0.84	GVA
ROAD	0.97	0.98	0.86	0.98		0.97	0.86	-0.26	0.86	0.84	ROAD
ACM	0.98	0.98	0.92	0.95	0.97		0.88	-0.18	0.89	0.84	ACM
MYRG	0.88	0.87	0.84	0.82	0.86	0.88		-0.18	0.98	0.9	MYRG
BLD	-0.15	-0.22	-0.01	-0.26	-0.26	-0.18	-0.18		-0.18	-0.3	BLD
APG	0.89	0.87	0.86	0.83	0.86	0.89	0.98	-0.18		0.94	APG
DY	0.83	0.84	0.73	0.84	0.84	0.84	0.9	-0.3	0.94		DY
	EME	FIX	PRIM	GVA	ROAD	ACM	MYRG	BLD	APG	DY

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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	+ 0.99	EME
ACM	+ 0.98	EME
ROAD	+ 0.98	FIX
ACM	+ 0.98	FIX
ROAD	+ 0.98	GVA
APG	+ 0.98	MYRG

High negative correlations

DY	- 0.3	BLD
BLD	- 0.26	ROAD
BLD	- 0.26	GVA
BLD	- 0.22	FIX
APG	- 0.18	BLD
BLD	- 0.18	MYRG

Risk-Adjusted Indicators

There is a big difference between Stantec Stock performing well and Stantec 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 Stantec'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	2.05	0.50	0.19	(2.66)	2.32	(2.30)	4.28	(4.04)	14.62
FIX	2.64	0.82	0.25	(2.46)	2.56	(3.00)	5.64	(5.43)	19.95
PRIM	2.29	0.40	0.12	(4.98)	2.65	(2.47)	6.37	(5.66)	15.38
GVA	1.38	0.41	0.28	23.02	1.22	(1.74)	2.58	(2.66)	10.58
ROAD	2.45	0.81	0.29	(11.73)	2.28	(2.95)	5.16	(5.00)	18.79
ACM	1.16	0.24	0.16	7.46	1.23	(1.26)	2.11	(2.15)	11.18
MYRG	2.56	0.51	0.16	0.38	2.75	(2.82)	5.14	(5.73)	22.58
BLD	2.15	(0.03)	0.00	0.11	0.00	0.00	5.55	(4.12)	14.75
APG	1.66	0.44	0.19	0.36	1.85	(1.85)	3.97	(3.27)	13.50
DY	2.00	0.74	0.28	0.75	1.96	(2.31)	5.39	(3.14)	16.32

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