Alpha Pro Correlations

APT Stock

USD 4.70 0.04 0.84%

The current 90-days correlation between Alpha Pro Tech and Atlas Engineered Products is -0.15 (i.e., Good diversification). The correlation of Alpha Pro 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.

Alpha Pro Correlation With Market

Average diversification

The correlation between Alpha Pro Tech and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alpha Pro Tech and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Alpha Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Alpha Pro Tech. 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.

Moving together with Alpha Stock

0.79	TT	Trane Technologies plc	Pair Corr
0.81	AWI	Armstrong World Indu	Pair Corr
0.69	GMS	GMS Inc	Pair Corr
0.76	JBI	Janus International	Pair Corr
0.84	JCI	Johnson Controls Int	Pair Corr
0.65	ILAG	Intelligent Living	Pair Corr
0.71	PPIH	Perma Pipe Internati Downward Rally	Pair Corr
0.7	ROCK	Gibraltar Industries	Pair Corr
0.77	ARLO	Arlo Technologies	Pair Corr
0.72	AZEK	Azek Company	Pair Corr
0.73	SWIM	Latham Group	Pair Corr
0.76	TILE	Interface	Pair Corr
0.72	CARR	Carrier Global Corp	Pair Corr
0.77	J	Jacobs Solutions	Pair Corr
0.68	R	Ryder System Earnings Call Next Week	Pair Corr
0.65	DIST	Distoken Acquisition	Pair Corr
0.81	AL	Air Lease	Pair Corr
0.74	AP	Ampco Pittsburgh	Pair Corr
0.76	AZ	A2Z Smart Technologies	Pair Corr
0.82	BA	Boeing Sell-off Trend	Pair Corr

Moving against Alpha Stock

0.83	STAI	ScanTech AI Systems	Pair Corr
0.56	JELD	Jeld Wen Holding	Pair Corr
0.39	APOG	Apogee Enterprises	Pair Corr
0.38	AIRJ	Montana Technologies	Pair Corr
0.79	CSTE	Caesarstone	Pair Corr
0.46	GP	GreenPower Motor	Pair Corr

Related Correlations Analysis

	AFIIQ	APEUF	ARLO	AZEK	CODX	LAKE	NNVC	PPIH	VIR
AFIIQ		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	AFIIQ
APEUF	0.0		0.54	0.54	-0.43	-0.43	0.23	0.57	0.13	APEUF
ARLO	0.0	0.54		0.74	-0.81	-0.37	0.46	0.77	-0.42	ARLO
AZEK	0.0	0.54	0.74		-0.76	-0.4	0.28	0.78	-0.44	AZEK
CODX	0.0	-0.43	-0.81	-0.76		0.17	-0.62	-0.63	0.55	CODX
LAKE	0.0	-0.43	-0.37	-0.4	0.17		0.25	-0.72	-0.3	LAKE
NNVC	0.0	0.23	0.46	0.28	-0.62	0.25		0.13	-0.38	NNVC
PPIH	0.0	0.57	0.77	0.78	-0.63	-0.72	0.13		-0.08	PPIH
VIR	0.0	0.13	-0.42	-0.44	0.55	-0.3	-0.38	-0.08		VIR
	AFIIQ	APEUF	ARLO	AZEK	CODX	LAKE	NNVC	PPIH	VIR

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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

PPIH	+ 0.78	AZEK
PPIH	+ 0.77	ARLO
AZEK	+ 0.74	ARLO
PPIH	+ 0.57	APEUF
VIR	+ 0.55	CODX
ARLO	+ 0.54	APEUF

High negative correlations

CODX	- 0.81	ARLO
CODX	- 0.76	AZEK
PPIH	- 0.72	LAKE
PPIH	- 0.63	CODX
NNVC	- 0.62	CODX
VIR	- 0.44	AZEK

Risk-Adjusted Indicators

There is a big difference between Alpha Stock performing well and Alpha Pro 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 Alpha Pro'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
AFIIQ	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
APEUF	1.91	0.07	0.00	0.26	1.68	(4.33)	6.15	(3.51)	14.35
ARLO	2.07	0.74	0.37	0.87	1.44	(2.65)	4.15	(2.63)	21.94
AZEK	1.43	0.16	0.04	1.52	1.41	(1.81)	2.63	(2.43)	11.69
CODX	4.05	(0.24)	0.00	(0.39)	0.00	0.00	8.00	(7.89)	26.71
LAKE	2.77	(0.56)	0.00	(0.21)	0.00	0.00	5.15	(7.19)	29.60
NNVC	4.08	0.51	0.10	1.07	4.06	(5.39)	13.71	(6.41)	33.09
PPIH	4.31	1.78	0.48	(1.19)	2.36	(5.96)	18.94	(5.78)	33.89
VIR	2.87	(0.26)	0.00	(0.03)	0.00	0.00	5.83	(5.91)	16.68

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