Ampco Pittsburgh Correlations

AP Stock

USD 2.49 0.00 0.00%

The current 90-days correlation between Ampco Pittsburgh and TechPrecision Common is -0.09 (i.e., Good 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

Good diversification

The correlation between Ampco Pittsburgh and DJI is -0.06 (i.e., Good 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	RS	Reliance Steel Aluminum	Pair Corr
0.65	AML	Argus Metals Corp	Pair Corr
0.76	ARI	Arika Resources	Pair Corr
0.73	300337	Yinbang Clad Material	Pair Corr

Moving against Ampco Stock

0.81	HL	Hecla Mining	Pair Corr
0.78	SA	Seabridge Gold	Pair Corr
0.76	AA	Alcoa Corp	Pair Corr
0.76	AG	First Majestic Silver	Pair Corr
0.76	MT	ArcelorMittal SA ADR	Pair Corr
0.75	600988	Chifeng Jilong Gold	Pair Corr
0.74	TX	Ternium SA ADR	Pair Corr
0.7	B	Barrick Mining Symbol Change	Pair Corr
0.69	NG	NovaGold Resources	Pair Corr
0.66	AU	AngloGold Ashanti plc	Pair Corr
0.58	WIA	WIA Gold	Pair Corr
0.82	CUU	Copper Fox Metals	Pair Corr
0.77	VALE	Vale SA ADR	Pair Corr
0.76	GML	Gateway Mining	Pair Corr
0.71	SRK	Strike Resources	Pair Corr
0.65	R8R	REGENER8 Resources	Pair Corr
0.48	002237	Shandong Humon Smelting	Pair Corr
0.48	DV	Dolly Varden Silver	Pair Corr
0.37	MARI	Marimaca Copper Corp	Pair Corr
0.33	GCN	Goldcliff Resource Corp	Pair Corr
0.79	FEX	FENIX Resources	Pair Corr
0.79	300428	Lizhong Sitong Light	Pair Corr
0.75	600282	Nanjing Iron Steel	Pair Corr
0.75	MKO	Mako Mining Corp Earnings Call This Week	Pair Corr
0.72	PME	Sentry Select Primary	Pair Corr
0.58	AMX	Amex Exploration	Pair Corr

Related Correlations Analysis

	TPCS	CLIR	FLUX	HTLM	IPWR	GPUS	SIF	ADSE	BGSF	CSTE
TPCS		-0.48	0.03	0.67	0.46	0.64	0.57	0.24	0.08	0.88	TPCS
CLIR	-0.48		0.64	-0.78	-0.07	-0.18	-0.18	0.04	0.24	-0.35	CLIR
FLUX	0.03	0.64		-0.47	0.36	0.15	0.29	-0.01	0.28	0.26	FLUX
HTLM	0.67	-0.78	-0.47		0.2	0.47	0.27	0.27	-0.41	0.52	HTLM
IPWR	0.46	-0.07	0.36	0.2		0.5	0.6	-0.04	-0.05	0.54	IPWR
GPUS	0.64	-0.18	0.15	0.47	0.5		0.52	0.54	-0.09	0.69	GPUS
SIF	0.57	-0.18	0.29	0.27	0.6	0.52		-0.02	0.05	0.61	SIF
ADSE	0.24	0.04	-0.01	0.27	-0.04	0.54	-0.02		-0.04	0.26	ADSE
BGSF	0.08	0.24	0.28	-0.41	-0.05	-0.09	0.05	-0.04		0.24	BGSF
CSTE	0.88	-0.35	0.26	0.52	0.54	0.69	0.61	0.26	0.24		CSTE
	TPCS	CLIR	FLUX	HTLM	IPWR	GPUS	SIF	ADSE	BGSF	CSTE

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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

CSTE	+ 0.88	TPCS
CSTE	+ 0.69	GPUS
HTLM	+ 0.67	TPCS
GPUS	+ 0.64	TPCS
FLUX	+ 0.64	CLIR
CSTE	+ 0.61	SIF

High negative correlations

HTLM	- 0.78	CLIR
CLIR	- 0.48	TPCS
HTLM	- 0.47	FLUX
BGSF	- 0.41	HTLM
CSTE	- 0.35	CLIR
SIF	- 0.18	CLIR

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
TPCS	2.76	(0.32)	0.00	(0.84)	0.00	0.00	6.12	(5.45)	15.87
CLIR	5.39	0.87	0.17	0.45	4.75	(7.77)	14.46	(9.43)	50.29
FLUX	8.46	0.60	0.05	0.53	10.58	(9.34)	17.05	(17.39)	87.42
HTLM	2.66	(0.26)	0.00	0.56	0.00	0.00	5.14	(6.21)	14.13
IPWR	3.53	(0.31)	0.00	(0.09)	0.00	0.00	9.50	(8.13)	48.99
GPUS	7.80	(1.11)	0.00	(0.20)	0.00	0.00	21.62	(13.64)	49.89
SIF	2.32	(0.10)	0.00	(0.06)	0.00	0.00	4.69	(5.87)	13.26
ADSE	2.63	(0.20)	0.00	(0.39)	0.00	0.00	6.63	(7.06)	20.96
BGSF	2.91	0.53	0.14	(2.35)	3.26	(3.27)	8.26	(5.80)	30.04
CSTE	2.67	(0.78)	0.00	(0.54)	0.00	0.00	5.04	(6.12)	16.55

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