Atlas Copco Correlations

ATLPF Stock

USD 18.33 1.48 8.78%

The current 90-days correlation between Atlas Copco AB and Atlas Copco ADR is 0.37 (i.e., Weak diversification). The correlation of Atlas Copco 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.

Atlas Copco Correlation With Market

Average diversification

The correlation between Atlas Copco AB and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Atlas Copco AB and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Atlas Copco could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Atlas Copco when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Atlas Copco - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Atlas Copco AB to buy it.

Moving together with Atlas Pink Sheet

0.65	SBGSY	Schneider Electric	Pair Corr
0.61	SBGSF	Schneider Electric	Pair Corr
0.66	BTE	Baytex Energy Corp Aggressive Push	Pair Corr
0.75	RR	Richtech Robotics Class Trending	Pair Corr
0.69	UI	Ubiquiti Networks	Pair Corr
0.79	EONR	EON Resources	Pair Corr

Moving against Atlas Pink Sheet

0.83	NSFDF	NXT Energy Solutions	Pair Corr
0.41	GLABF	Gemina Laboratories	Pair Corr
0.31	WSNAF	Wesana Health Holdings	Pair Corr

Related Correlations Analysis

	AMROF	ATLCY	ALFVF	ATLKY	ABLZF	ESOCF	KNYJY
AMROF		-0.7	-0.59	-0.66	-0.46	-0.37	-0.65	AMROF
ATLCY	-0.7		0.79	0.99	0.56	0.41	0.87	ATLCY
ALFVF	-0.59	0.79		0.76	0.77	0.47	0.84	ALFVF
ATLKY	-0.66	0.99	0.76		0.47	0.32	0.86	ATLKY
ABLZF	-0.46	0.56	0.77	0.47		0.77	0.5	ABLZF
ESOCF	-0.37	0.41	0.47	0.32	0.77		0.28	ESOCF
KNYJY	-0.65	0.87	0.84	0.86	0.5	0.28		KNYJY
	AMROF	ATLCY	ALFVF	ATLKY	ABLZF	ESOCF	KNYJY

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

ATLKY	+ 0.99	ATLCY
KNYJY	+ 0.87	ATLCY
KNYJY	+ 0.86	ATLKY
KNYJY	+ 0.84	ALFVF
ALFVF	+ 0.79	ATLCY
ABLZF	+ 0.77	ALFVF

High negative correlations

ATLCY	- 0.7	AMROF
ATLKY	- 0.66	AMROF
KNYJY	- 0.65	AMROF
ALFVF	- 0.59	AMROF
ABLZF	- 0.46	AMROF
ESOCF	- 0.37	AMROF

Risk-Adjusted Indicators

There is a big difference between Atlas Pink Sheet performing well and Atlas Copco 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 Atlas Copco'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
AMROF	4.69	(0.07)	0.00	0.17	0.00	0.00	13.33	(12.50)	33.91
ATLCY	1.42	0.07	0.04	0.12	1.75	(1.54)	2.91	(2.06)	9.74
ALFVF	0.59	0.27	0.00	0.90	0.00	0.00	0.00	0.00	19.85
ATLKY	1.44	0.06	0.04	0.11	1.97	(1.51)	2.83	(2.18)	11.00
ABLZF	1.56	0.30	0.16	0.72	1.34	(1.87)	3.69	(3.11)	9.48
ESOCF	1.04	0.08	0.03	0.22	1.19	(1.23)	2.59	(2.14)	7.57
KNYJY	0.86	(0.01)	(0.02)	0.06	1.20	(0.92)	1.74	(1.78)	5.89

Be your own money manager

Our tools can tell you how much better you can do entering a position in Atlas Copco without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Atlas Copco Corporate Management

Mats Hgberg	Chief VP	Profile
Peter Kinnart	VP CFO	Profile
Cecilia Sandberg	VP Officer	Profile
Sara Liljedal	VP Officer	Profile
Lars Eklof	Pres Systems	Profile
Eva Klasen	VP Officer	Profile
Daniel Althoff	VP Relations	Profile

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