Stantec Correlations

STN Stock

USD 84.52 0.87 1.02%

The current 90-days correlation between Stantec and WSP Global is -0.01 (i.e., Good 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

Weak diversification

The correlation between Stantec and DJI is 0.32 (i.e., Weak 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.

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	G	Genpact Limited	Pair Corr
0.81	BR	Broadridge Financial	Pair Corr
0.78	KC	Kingsoft Cloud Holdings Tech Boost	Pair Corr
0.64	LZ	LegalZoom	Pair Corr
0.85	NL	NL Industries	Pair Corr
0.8	SQ	Block Inc	Pair Corr
0.76	WM	Waste Management	Pair Corr
0.67	DRVN	Driven Brands Holdings	Pair Corr
0.67	VRSK	Verisk Analytics	Pair Corr
0.7	VSEC	VSE Corporation	Pair Corr
0.63	EEFT	Euronet Worldwide	Pair Corr
0.79	EXLS	ExlService Holdings	Pair Corr
0.81	ABM	ABM Industries Earnings Call Today	Pair Corr
0.84	AXR	AMREP	Pair Corr
0.69	CBZ	CBIZ Inc	Pair Corr
0.88	FOUR	Shift4 Payments	Pair Corr
0.62	DLX	Deluxe	Pair Corr
0.74	HNI	HNI Corp	Pair Corr
0.62	KAR	KAR Auction Services	Pair Corr

Moving against Stantec Stock

0.67	DLHC	DLH Holdings Corp	Pair Corr
0.61	VCIG	VCI Global Limited	Pair Corr
0.53	WHLM	Wilhelmina	Pair Corr
0.45	FC	Franklin Covey	Pair Corr
0.41	MG	Mistras Group	Pair Corr
0.4	EXPO	Exponent	Pair Corr
0.37	FORR	Forrester Research	Pair Corr
0.71	DSS	DSS Inc	Pair Corr
0.7	EFX	Equifax	Pair Corr
0.7	BLMZ	BloomZ Ordinary Shares	Pair Corr
0.65	HDSN	Hudson Technologies	Pair Corr
0.47	FCN	FTI Consulting	Pair Corr
0.34	CDTG	CDT Environmental	Pair Corr

Related Correlations Analysis

	WSPOF	FIX	MYRG	MTRX	GVA	AMRC	ROAD	GLDD	KBR	EME
WSPOF		0.28	0.3	0.19	0.19	-0.07	0.28	0.58	0.61	0.26	WSPOF
FIX	0.28		0.92	0.94	0.93	-0.68	0.93	0.89	-0.18	0.96	FIX
MYRG	0.3	0.92		0.9	0.97	-0.8	0.96	0.87	-0.2	0.93	MYRG
MTRX	0.19	0.94	0.9		0.94	-0.69	0.91	0.83	-0.22	0.94	MTRX
GVA	0.19	0.93	0.97	0.94		-0.78	0.97	0.84	-0.23	0.97	GVA
AMRC	-0.07	-0.68	-0.8	-0.69	-0.78		-0.79	-0.67	0.3	-0.7	AMRC
ROAD	0.28	0.93	0.96	0.91	0.97	-0.79		0.85	-0.23	0.93	ROAD
GLDD	0.58	0.89	0.87	0.83	0.84	-0.67	0.85		0.13	0.89	GLDD
KBR	0.61	-0.18	-0.2	-0.22	-0.23	0.3	-0.23	0.13		-0.1	KBR
EME	0.26	0.96	0.93	0.94	0.97	-0.7	0.93	0.89	-0.1		EME
	WSPOF	FIX	MYRG	MTRX	GVA	AMRC	ROAD	GLDD	KBR	EME

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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

GVA	+ 0.97	MYRG
ROAD	+ 0.97	GVA
EME	+ 0.97	GVA
EME	+ 0.96	FIX
ROAD	+ 0.96	MYRG
MTRX	+ 0.94	FIX

High negative correlations

AMRC	- 0.8	MYRG
ROAD	- 0.79	AMRC
AMRC	- 0.78	GVA
EME	- 0.7	AMRC
AMRC	- 0.69	MTRX
AMRC	- 0.68	FIX

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
WSPOF	0.60	0.09	0.00	0.48	0.66	(1.07)	2.42	(1.01)	7.16
FIX	1.73	0.41	0.17	0.33	2.41	(1.90)	5.28	(3.47)	17.05
MYRG	2.00	0.71	0.45	0.54	1.13	(2.51)	5.71	(2.79)	17.58
MTRX	1.95	0.29	0.23	0.25	1.52	(2.48)	4.54	(2.63)	19.14
GVA	1.04	0.31	0.35	0.40	0.45	(1.34)	2.88	(1.39)	6.37
AMRC	3.37	(0.12)	0.00	(0.40)	0.00	0.00	6.57	(7.52)	25.04
ROAD	2.28	0.56	0.36	0.36	1.49	(2.89)	6.10	(3.31)	18.01
GLDD	1.40	0.30	0.25	0.32	1.10	(1.74)	3.82	(2.47)	11.23
KBR	1.19	(0.19)	0.00	(0.03)	0.00	0.00	2.54	(2.30)	16.92
EME	1.31	0.27	0.15	0.34	1.60	(1.45)	3.31	(2.67)	11.47

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