Alamo Correlations

ALG Stock

USD 191.41 12.88 7.21%

The current 90-days correlation between Alamo Group and Aquagold International is -0.08 (i.e., Good diversification). The correlation of Alamo 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.

Alamo Correlation With Market

Poor diversification

The correlation between Alamo Group and DJI is 0.68 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alamo Group and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Alamo Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Alamo Group. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with Alamo Stock

0.76	DE	Deere Company Earnings Call This Week	Pair Corr
0.81	HY	Hyster Yale Materials Earnings Call This Week	Pair Corr
0.89	CAT	Caterpillar	Pair Corr
0.89	CNH	CNH Industrial NV Symbol Change	Pair Corr
0.66	LNN	Lindsay	Pair Corr
0.86	MTW	Manitowoc	Pair Corr
0.84	OSK	Oshkosh	Pair Corr
0.81	TEX	Terex	Pair Corr
0.9	TWI	Titan International	Pair Corr
0.65	WNC	Wabash National	Pair Corr
0.63	GENC	Gencor Industries	Pair Corr
0.82	PCAR	PACCAR Inc	Pair Corr
0.86	AGCO	AGCO	Pair Corr
0.69	SHYF	Shyft Group	Pair Corr
0.66	UGRO	Urban Gro	Pair Corr
0.67	G	Genpact Limited	Pair Corr
0.69	J	Jacobs Solutions	Pair Corr
0.86	BE	Bloom Energy Corp	Pair Corr
0.81	BW	Babcock Wilcox Enter	Pair Corr
0.64	CR	Crane Company	Pair Corr

Moving against Alamo Stock

0.44	DIST	Distoken Acquisition	Pair Corr
0.41	CEADW	CEA Industries Warrant	Pair Corr
0.43	GD	General Dynamics Sell-off Trend	Pair Corr
0.39	AZ	A2Z Smart Technologies	Pair Corr
0.37	NL	NL Industries Earnings Call This Week	Pair Corr
0.35	PC	Premium Catering	Pair Corr

Related Correlations Analysis

	AQUI	MSTSX	LBHIX	VIASP	RRTLX	OSHDF	70082LAB3	SITKF	RWAYL	SEGI
AQUI		0.22	0.24	-0.52	0.3	0.0	0.33	-0.52	-0.63	0.48	AQUI
MSTSX	0.22		0.9	0.13	0.98	0.0	0.5	-0.55	0.43	0.09	MSTSX
LBHIX	0.24	0.9		0.1	0.94	0.0	0.64	-0.67	0.37	0.23	LBHIX
VIASP	-0.52	0.13	0.1		0.09	0.0	-0.31	0.55	0.76	-0.52	VIASP
RRTLX	0.3	0.98	0.94	0.09		0.0	0.58	-0.61	0.37	0.14	RRTLX
OSHDF	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	OSHDF
70082LAB3	0.33	0.5	0.64	-0.31	0.58	0.0		-0.86	-0.03	0.4	70082LAB3
SITKF	-0.52	-0.55	-0.67	0.55	-0.61	0.0	-0.86		0.19	-0.56	SITKF
RWAYL	-0.63	0.43	0.37	0.76	0.37	0.0	-0.03	0.19		-0.46	RWAYL
SEGI	0.48	0.09	0.23	-0.52	0.14	0.0	0.4	-0.56	-0.46		SEGI
	AQUI	MSTSX	LBHIX	VIASP	RRTLX	OSHDF	70082LAB3	SITKF	RWAYL	SEGI

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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

RRTLX	+ 0.98	MSTSX
RRTLX	+ 0.94	LBHIX
LBHIX	+ 0.9	MSTSX
RWAYL	+ 0.76	VIASP
70082LAB3	+ 0.64	LBHIX
70082LAB3	+ 0.58	RRTLX

High negative correlations

SITKF	- 0.86	70082LAB3
SITKF	- 0.67	LBHIX
RWAYL	- 0.63	AQUI
SITKF	- 0.61	RRTLX
SEGI	- 0.56	SITKF
SITKF	- 0.55	MSTSX

Risk-Adjusted Indicators

There is a big difference between Alamo Stock performing well and Alamo 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 Alamo'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
AQUI	1.49	(0.77)	0.00	22.44	0.00	0.00	0.00	0.00	50.00
MSTSX	0.89	0.00	0.08	(0.11)	1.39	(0.91)	1.61	(1.54)	10.06
LBHIX	0.21	(0.01)	0.00	(0.49)	0.00	0.00	0.48	(0.48)	1.68
VIASP	0.63	0.12	0.27	1.29	0.67	(0.76)	1.81	(1.03)	4.84
RRTLX	0.44	(0.01)	0.13	0.22	0.66	(0.45)	0.76	(0.94)	4.11
OSHDF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
70082LAB3	1.32	(0.04)	0.00	(0.38)	0.00	0.00	2.71	(4.54)	20.47
SITKF	3.19	0.92	0.20	32.09	2.95	(4.97)	8.33	(6.67)	27.38
RWAYL	0.18	0.02	0.42	5.08	0.19	(0.21)	0.49	(0.40)	1.76
SEGI	9.58	0.20	0.02	(0.65)	12.05	(17.82)	20.00	(25.00)	61.90

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