Ampco Pittsburgh Correlations

AP Stock

USD 2.25 0.04 1.75%

The current 90-days correlation between Ampco Pittsburgh and Tredegar is 0.06 (i.e., Significant diversification). The correlation of Ampco Pittsburgh 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.

Ampco Pittsburgh Correlation With Market

Average diversification

The correlation between Ampco Pittsburgh and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ampco Pittsburgh and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Ampco Stock

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

To learn how to invest in Ampco Stock, please use our How to Invest in Ampco Pittsburgh guide.

Moving together with Ampco Stock

0.68	ESAB	ESAB Corp	Pair Corr
0.71	SGBX	SG Blocks	Pair Corr
0.75	AZ	A2Z Smart Technologies	Pair Corr
0.86	BV	BrightView Holdings	Pair Corr
0.74	CR	Crane Company	Pair Corr
0.82	DE	Deere Company	Pair Corr
0.81	FA	First Advantage Corp	Pair Corr

Moving against Ampco Stock

0.83	AL	Air Lease	Pair Corr
0.83	BW	Babcock Wilcox Enter	Pair Corr
0.78	BE	Bloom Energy Corp	Pair Corr
0.77	MLI	Mueller Industries	Pair Corr
0.75	CMPOW	CompoSecure	Pair Corr
0.75	CMPO	CompoSecure	Pair Corr
0.7	PRLB	Proto Labs	Pair Corr
0.63	IIIN	Insteel Industries	Pair Corr
0.59	R	Ryder System	Pair Corr
0.47	TPCS	TechPrecision Common	Pair Corr
0.44	HIHO	Highway Holdings	Pair Corr
0.42	GIFI	Gulf Island Fabrication	Pair Corr
0.39	RYI	Ryerson Holding Corp	Pair Corr
0.36	J	Jacobs Solutions	Pair Corr
0.81	RR	Richtech Robotics Class Aggressive Push	Pair Corr
0.79	PL	Planet Labs PBC	Pair Corr
0.79	TE	T1 Energy Symbol Change	Pair Corr
0.76	MG	Mistras Group	Pair Corr
0.73	HI	Hillenbrand	Pair Corr
0.62	LZ	LegalZoom	Pair Corr
0.6	GE	GE Aerospace	Pair Corr
0.6	SB	Safe Bulkers	Pair Corr
0.59	CW	Curtiss Wright	Pair Corr
0.57	PH	Parker Hannifin	Pair Corr
0.56	GD	General Dynamics	Pair Corr
0.32	KC	Kingsoft Cloud Holdings	Pair Corr

Related Correlations Analysis

	GIFI	TG	ESAB	IIIN	ALG	AXR	AIN	ARL	DCO
GIFI		0.09	-0.14	0.51	-0.33	-0.06	-0.07	0.47	0.16	GIFI
TG	0.09		0.79	-0.09	0.3	0.09	0.62	-0.47	-0.44	TG
ESAB	-0.14	0.79		-0.37	0.54	-0.26	0.65	-0.71	-0.47	ESAB
IIIN	0.51	-0.09	-0.37		-0.31	0.24	-0.06	0.74	0.13	IIIN
ALG	-0.33	0.3	0.54	-0.31		-0.56	0.69	-0.74	-0.47	ALG
AXR	-0.06	0.09	-0.26	0.24	-0.56		-0.42	0.43	0.22	AXR
AIN	-0.07	0.62	0.65	-0.06	0.69	-0.42		-0.59	-0.52	AIN
ARL	0.47	-0.47	-0.71	0.74	-0.74	0.43	-0.59		0.45	ARL
DCO	0.16	-0.44	-0.47	0.13	-0.47	0.22	-0.52	0.45		DCO
	GIFI	TG	ESAB	IIIN	ALG	AXR	AIN	ARL	DCO

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

ESAB	+ 0.79	TG
ARL	+ 0.74	IIIN
AIN	+ 0.69	ALG
AIN	+ 0.65	ESAB
AIN	+ 0.62	TG
ALG	+ 0.54	ESAB

High negative correlations

ARL	- 0.74	ALG
ARL	- 0.71	ESAB
ARL	- 0.59	AIN
AXR	- 0.56	ALG
DCO	- 0.52	AIN
DCO	- 0.47	ALG

Risk-Adjusted Indicators

There is a big difference between Ampco Stock performing well and Ampco Pittsburgh 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 Ampco Pittsburgh'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
GIFI	1.60	0.14	0.06	0.28	1.72	(1.98)	4.21	(3.27)	9.70
TG	1.55	(0.12)	0.00	0.34	0.00	0.00	2.79	(3.22)	14.87
ESAB	1.57	(0.10)	0.00	(0.32)	0.00	0.00	3.15	(2.48)	20.68
IIIN	1.27	(0.08)	(0.02)	0.01	1.76	(1.38)	2.88	(2.19)	9.13
ALG	1.14	(0.32)	0.00	(0.14)	0.00	0.00	2.50	(2.62)	7.87
AXR	2.15	0.22	0.07	1.19	2.27	(2.77)	6.43	(3.88)	18.02
AIN	1.70	(0.49)	0.00	(0.16)	0.00	0.00	3.11	(2.55)	26.39
ARL	2.24	0.22	0.06	0.37	2.73	(2.65)	5.79	(5.35)	16.09
DCO	1.36	0.11	0.07	0.18	1.38	(1.55)	3.43	(2.11)	8.43

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