Ampco Pittsburgh Correlations

AP Stock

USD 3.55 0.21 5.59%

The current 90-days correlation between Ampco Pittsburgh and Gulf Island Fabrication 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

Very weak diversification

The correlation between Ampco Pittsburgh and DJI is 0.43 (i.e., Very weak 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 american community survey.

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

Moving together with Ampco Stock

0.76	TG	Tredegar	Pair Corr
0.88	ATI	Allegheny Technologies Earnings Call This Week	Pair Corr
0.78	CRS	Carpenter Technology Earnings Call This Week	Pair Corr
0.76	MEC	Mayville Engineering	Pair Corr
0.64	MLI	Mueller Industries	Pair Corr
0.77	WOR	Worthington Industries	Pair Corr
0.62	MTEN	Mingteng International	Pair Corr
0.84	CMPOW	CompoSecure	Pair Corr
0.66	SGBX	SG Blocks	Pair Corr
0.7	TPCS	TechPrecision Common	Pair Corr
0.85	CMPO	CompoSecure Earnings Call This Week	Pair Corr
0.71	J	Jacobs Solutions	Pair Corr
0.61	R	Ryder System Earnings Call Today	Pair Corr
0.83	AL	Air Lease	Pair Corr
0.72	AZ	A2Z Smart Technologies	Pair Corr
0.83	BA	Boeing Earnings Call This Week	Pair Corr
0.65	BE	Bloom Energy Corp Earnings Call This Week	Pair Corr
0.72	BV	BrightView Holdings	Pair Corr
0.83	BW	Babcock Wilcox Enter	Pair Corr
0.83	BZ	Kanzhun Ltd ADR	Pair Corr
0.78	CP	Canadian Pacific Railway Earnings Call This Week	Pair Corr
0.76	CR	Crane Company Earnings Call This Week	Pair Corr
0.85	CW	Curtiss Wright	Pair Corr
0.8	DE	Deere Company	Pair Corr
0.87	DY	Dycom Industries	Pair Corr
0.81	FA	First Advantage Corp	Pair Corr
0.9	GE	GE Aerospace	Pair Corr

Moving against Ampco Stock

0.76	MG	Mistras Group Earnings Call This Week	Pair Corr
0.7	NL	NL Industries	Pair Corr
0.34	GP	GreenPower Motor	Pair Corr

Related Correlations Analysis

	GIFI	TG	ESAB	IIIN	ALG	AXR	AIN	ARL	DCO
GIFI		0.2	-0.13	0.1	0.1	0.25	0.21	-0.03	0.31	GIFI
TG	0.2		0.58	0.85	0.93	-0.29	0.8	0.69	0.9	TG
ESAB	-0.13	0.58		0.69	0.52	-0.11	0.46	0.17	0.43	ESAB
IIIN	0.1	0.85	0.69		0.8	-0.08	0.76	0.5	0.74	IIIN
ALG	0.1	0.93	0.52	0.8		-0.27	0.87	0.74	0.93	ALG
AXR	0.25	-0.29	-0.11	-0.08	-0.27		-0.06	-0.49	-0.2	AXR
AIN	0.21	0.8	0.46	0.76	0.87	-0.06		0.49	0.84	AIN
ARL	-0.03	0.69	0.17	0.5	0.74	-0.49	0.49		0.62	ARL
DCO	0.31	0.9	0.43	0.74	0.93	-0.2	0.84	0.62		DCO
	GIFI	TG	ESAB	IIIN	ALG	AXR	AIN	ARL	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

ALG	+ 0.93	TG
DCO	+ 0.93	ALG
DCO	+ 0.9	TG
AIN	+ 0.87	ALG
IIIN	+ 0.85	TG
DCO	+ 0.84	AIN

High negative correlations

ARL	- 0.49	AXR
AXR	- 0.29	TG
AXR	- 0.27	ALG
DCO	- 0.2	AXR
ESAB	- 0.13	GIFI
AXR	- 0.11	ESAB

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	1.65	0.11	(0.02)	1.01	2.63	(1.70)	3.88	(3.87)	18.12
TG	1.48	0.19	0.09	0.42	1.40	(1.57)	3.30	(2.63)	9.06
ESAB	1.27	0.00	0.02	0.20	1.20	(1.55)	3.16	(2.35)	8.05
IIIN	1.59	0.62	0.19	(0.99)	1.22	(2.06)	2.91	(1.94)	20.12
ALG	1.17	0.20	0.17	0.39	0.78	(1.41)	2.90	(1.86)	9.25
AXR	2.04	0.02	0.00	0.15	0.00	0.00	5.23	(3.96)	17.23
AIN	1.22	0.20	(0.02)	(1.18)	1.61	(1.17)	3.02	(2.45)	9.44
ARL	2.62	0.16	0.01	0.65	3.02	(2.95)	5.02	(5.12)	16.23
DCO	1.27	0.61	0.32	1.44	0.80	(1.54)	3.95	(2.08)	8.99

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