Argan Correlations

Stocks . USA . 
Stock . Argan Inc
AGX Stock  USD 148.17  10.17  7.37%   
The current 90-days correlation between Argan Inc and Arcosa Inc is 0.47 (i.e., Very weak diversification). The correlation of Argan 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Argan Correlation With Market

Weak diversification

The correlation between Argan Inc and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Argan Inc and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Argan Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with Argan Stock

  0.68J Jacobs SolutionsPairCorr
  0.79DY Dycom IndustriesPairCorr
  0.77ESOA Energy ServicesPairCorr
  0.67ACA Arcosa IncPairCorr
  0.8ACM Aecom TechnologyPairCorr
  0.78ECG Everus ConstructionPairCorr
  0.88EME EMCOR GroupPairCorr
  0.76FGL Founder Group LimitedPairCorr
  0.89FIX Comfort Systems USAPairCorr
  0.8FLR FluorPairCorr
  0.86GVA Granite ConstructionPairCorr
  0.84MTZ MasTec IncPairCorr
  0.69ORN Orion Group HoldingsPairCorr
  0.9PWR Quanta ServicesPairCorr
  0.65SKK PROSHARES ULTRASHORTPairCorr
  0.84GLDD Great Lakes DredgePairCorr
  0.88IESC IES HoldingsPairCorr
  0.8MYRG MYR GroupPairCorr
  0.69PGHL Primega Group HoldingsPairCorr
  0.78PRIM Primoris ServicesPairCorr
  0.89ROAD Construction PartnersPairCorr
  0.76AMRC AmerescoPairCorr
  0.73SHIM Shimmick CommonPairCorr
  0.89STRL Sterling ConstructionPairCorr
  0.61BBCP Concrete Pumping HoldingsPairCorr
  0.62BWMN Bowman ConsultingPairCorr

Moving against Argan Stock

  0.38JUNE Junee Limited OrdinaryPairCorr
  0.36G Genpact LimitedPairCorr
  0.35DE Deere CompanyPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Argan Stock performing well and Argan 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 Argan'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
ACA  1.97 (0.19) 0.00 (0.25) 0.00 
 0.00 
 3.52 
(3.87)
 14.37 
ROAD  2.70  0.00  0.00 (0.08) 0.00 
 0.00 
 4.90 
(5.84)
 16.21 
BLD  1.97 (0.03) 0.00 (0.11) 0.00 
 0.00 
 5.55 
(4.12)
 14.83 
FIX  3.51 (0.12) 0.00 (0.15) 0.00 
 0.00 
 5.89 
(7.36)
 31.92 
AMRC  4.24 (1.20) 0.00 (0.93) 0.00 
 0.00 
 7.14 
(8.12)
 41.36 
TPC  3.14  0.04  0.00 (0.06) 0.00 
 0.00 
 5.25 
(6.10)
 42.81 
GVA  1.59 (0.09) 0.00 (0.18) 0.00 
 0.00 
 2.58 
(3.86)
 8.39 
MTRX  2.77 (0.16) 0.00 (0.19) 0.00 
 0.00 
 5.92 
(6.77)
 18.13 
MYRG  2.81 (0.21) 0.00 (0.24) 0.00 
 0.00 
 5.14 
(5.85)
 16.92 
EME  2.64 (0.14) 0.00 (0.19) 0.00 
 0.00 
 4.48 
(4.78)
 24.49 

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2024 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY