AstroNova Correlations

ALOT Stock  USD 11.22  0.06  0.53%   
The current 90-days correlation between AstroNova and Identiv is 0.21 (i.e., Modest diversification). The correlation of AstroNova 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.

AstroNova Correlation With Market

Modest diversification

The correlation between AstroNova and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AstroNova 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 AstroNova. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.
For more information on how to buy AstroNova Stock please use our How to Invest in AstroNova guide.

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Moving against AstroNova Stock

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Related Correlations Analysis

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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   
ALNTPDYN
ALNTKTCC
PDYNKTCC
CSPIAGMH
KTCCTACT
INVETACT
  
High negative correlations   
CSPIALNT
CSPIPDYN
CSPIKTCC
PDYNAGMH
KTCCAGMH
ALNTAGMH

Risk-Adjusted Indicators

There is a big difference between AstroNova Stock performing well and AstroNova 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 AstroNova'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.

AstroNova Corporate Management