Alamo Correlations

ALG Stock

USD 216.04 1.11 0.51%

The current 90-days correlation between Alamo Group and Lindsay is 0.03 (i.e., Significant 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

Significant diversification

The correlation between Alamo Group and DJI is 0.01 (i.e., Significant 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

0.84	DE	Deere Company	Pair Corr
0.63	HY	Hyster Yale Materials	Pair Corr
0.94	CAT	Caterpillar	Pair Corr
0.86	CNH	CNH Industrial NV	Pair Corr
0.78	LNN	Lindsay	Pair Corr
0.97	MTW	Manitowoc	Pair Corr
0.95	OSK	Oshkosh	Pair Corr
0.94	TEX	Terex Earnings Call This Week	Pair Corr
0.84	TWI	Titan International Earnings Call This Week	Pair Corr
0.89	GENC	Gencor Industries	Pair Corr
0.64	HYFM	Hydrofarm Holdings	Pair Corr
0.77	PCAR	PACCAR Inc	Pair Corr
0.94	REVG	Rev Group	Pair Corr
0.88	AGCO	AGCO	Pair Corr
0.71	ARTW	Arts Way Manufacturing	Pair Corr
0.73	ASTE	Astec Industries	Pair Corr
0.84	SHYF	Shyft Group Earnings Call Today	Pair Corr
0.86	J	Jacobs Solutions	Pair Corr
0.87	R	Ryder System Earnings Call Tomorrow	Pair Corr
0.67	DIST	Distoken Acquisition	Pair Corr
0.89	AL	Air Lease	Pair Corr
0.79	AP	Ampco Pittsburgh Upward Rally	Pair Corr
0.91	AZ	A2Z Smart Technologies	Pair Corr
0.87	BA	Boeing Earnings Call This Week	Pair Corr
0.87	BE	Bloom Energy Corp Earnings Call This Week	Pair Corr
0.77	BV	BrightView Holdings	Pair Corr
0.9	BW	Babcock Wilcox Enter	Pair Corr
0.89	BZ	Kanzhun Ltd ADR	Pair Corr
0.84	CP	Canadian Pacific Railway Earnings Call This Week	Pair Corr
0.91	CR	Crane Company Earnings Call This Week	Pair Corr
0.97	CW	Curtiss Wright	Pair Corr
0.94	DY	Dycom Industries	Pair Corr
0.77	FA	First Advantage Corp	Pair Corr

Moving against Alamo Stock

0.8	UGRO	Urban Gro	Pair Corr
0.54	GP	GreenPower Motor	Pair Corr
0.84	NL	NL Industries	Pair Corr
0.78	PC	Premium Catering	Pair Corr
0.74	MG	Mistras Group Earnings Call This Week	Pair Corr

Related Correlations Analysis

	LNN	CMCO	ASTE	SHYF	AGCO	AIN	SXI	DCO
LNN		0.58	0.9	0.55	0.86	0.76	0.82	0.68	LNN
CMCO	0.58		0.73	-0.05	0.64	0.42	0.54	0.16	CMCO
ASTE	0.9	0.73		0.38	0.86	0.71	0.84	0.59	ASTE
SHYF	0.55	-0.05	0.38		0.64	0.78	0.59	0.92	SHYF
AGCO	0.86	0.64	0.86	0.64		0.8	0.9	0.81	AGCO
AIN	0.76	0.42	0.71	0.78	0.8		0.77	0.85	AIN
SXI	0.82	0.54	0.84	0.59	0.9	0.77		0.76	SXI
DCO	0.68	0.16	0.59	0.92	0.81	0.85	0.76		DCO
	LNN	CMCO	ASTE	SHYF	AGCO	AIN	SXI	DCO

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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

DCO	+ 0.92	SHYF
ASTE	+ 0.9	LNN
SXI	+ 0.9	AGCO
AGCO	+ 0.86	LNN
AGCO	+ 0.86	ASTE
DCO	+ 0.85	AIN

High negative correlations

SHYF

- 0.05

CMCO

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
LNN	1.09	0.00	(0.02)	0.17	0.99	(1.28)	2.74	(1.65)	6.45
CMCO	2.67	(0.10)	0.04	0.13	3.38	(2.78)	7.62	(5.22)	20.23
ASTE	1.65	(0.03)	0.03	0.15	1.61	(1.98)	4.04	(3.49)	10.72
SHYF	2.93	0.56	0.13	2.27	3.13	(3.35)	5.04	(6.16)	32.72
AGCO	1.56	0.29	0.19	0.41	1.28	(1.85)	4.14	(2.28)	14.35
AIN	1.22	(0.02)	0.00	0.15	1.61	(1.17)	3.02	(2.45)	9.44
SXI	1.58	0.02	0.04	0.18	1.66	(1.73)	3.09	(3.05)	12.94
DCO	1.26	0.61	0.33	1.46	0.81	(1.50)	3.95	(2.08)	8.99

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