Astronics Correlations

ATRO Stock

USD 34.56 0.39 1.12%

The current 90-days correlation between Astronics and Ducommun Incorporated is 0.4 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Astronics moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Astronics moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Astronics Correlation With Market

Weak diversification

The correlation between Astronics and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Astronics and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Astronics Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Astronics. 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 Astronics Stock, please use our How to Invest in Astronics guide.

Moving together with Astronics Stock

0.86	AZ	A2Z Smart Technologies	Pair Corr
0.86	BA	Boeing	Pair Corr
0.96	CW	Curtiss Wright	Pair Corr
0.94	GE	GE Aerospace Earnings Call This Week	Pair Corr
0.78	PL	Planet Labs PBC	Pair Corr
0.85	BA-PA	Boeing	Pair Corr
0.88	VSEC	VSE Corporation	Pair Corr
0.92	VTSI	VirTra Inc	Pair Corr
0.7	ESLT	Elbit Systems	Pair Corr
0.79	EVEX	Eve Holding Downward Rally	Pair Corr
0.84	EVTL	Vertical Aerospace Trending	Pair Corr
0.88	AIR	AAR Corp	Pair Corr
0.75	CAE	CAE Inc	Pair Corr
0.9	DCO	Ducommun Incorporated	Pair Corr
0.9	DRS	Leonardo DRS, Common	Pair Corr
0.65	ERJ	Embraer SA ADR	Pair Corr
0.91	HEI	Heico	Pair Corr
0.93	HWM	Howmet Aerospace	Pair Corr
0.83	HXL	Hexcel Earnings Call This Week	Pair Corr
0.88	LHX	L3Harris Technologies Earnings Call This Week	Pair Corr
0.68	NPK	National Presto Indu Earnings Call This Week	Pair Corr
0.87	RDW	Redwire Corp	Pair Corr
0.9	RTX	Raytheon Technologies Earnings Call This Week	Pair Corr
0.8	SIF	SIFCO Industries	Pair Corr
0.82	SPR	Spirit Aerosystems	Pair Corr
0.73	TDG	Transdigm Group	Pair Corr
0.88	TGI	Triumph Group Sell-off Trend	Pair Corr
0.87	TXT	Textron Earnings Call This Week	Pair Corr
0.92	WWD	Woodward	Pair Corr

Moving against Astronics Stock

0.47	SATLW	Satellogic Warrant	Pair Corr
0.45	RGR	Sturm Ruger	Pair Corr
0.44	VVX	V2X Inc	Pair Corr

Related Correlations Analysis

	PKE	ISSC	DCO	NPK	TGI	ATNI	ASTE
PKE		0.75	0.75	0.84	0.51	0.42	0.31	PKE
ISSC	0.75		0.97	0.87	0.8	0.14	0.62	ISSC
DCO	0.75	0.97		0.89	0.79	0.18	0.66	DCO
NPK	0.84	0.87	0.89		0.59	0.52	0.44	NPK
TGI	0.51	0.8	0.79	0.59		-0.22	0.82	TGI
ATNI	0.42	0.14	0.18	0.52	-0.22		-0.34	ATNI
ASTE	0.31	0.62	0.66	0.44	0.82	-0.34		ASTE
	PKE	ISSC	DCO	NPK	TGI	ATNI	ASTE

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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

DCO	+ 0.97	ISSC
NPK	+ 0.89	DCO
NPK	+ 0.87	ISSC
NPK	+ 0.84	PKE
ASTE	+ 0.82	TGI
TGI	+ 0.8	ISSC

High negative correlations

ASTE	- 0.34	ATNI
ATNI	- 0.22	TGI

Risk-Adjusted Indicators

There is a big difference between Astronics Stock performing well and Astronics 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 Astronics' 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
PKE	1.52	0.52	0.38	0.85	0.72	(1.90)	3.99	(2.17)	9.11
ISSC	3.22	1.50	0.59	1.62	1.72	(4.21)	8.36	(3.71)	39.02
DCO	1.22	0.66	0.39	1.49	0.69	(1.48)	3.95	(1.69)	8.99
NPK	1.52	0.26	0.15	0.39	1.27	(1.74)	3.90	(2.26)	11.00
TGI	0.17	0.04	(0.38)	0.51	0.00	(0.21)	0.51	(0.23)	1.20
ATNI	2.07	(0.04)	(0.02)	0.08	3.39	(2.02)	4.44	(3.26)	18.81
ASTE	1.63	(0.01)	0.03	0.12	1.63	(1.98)	4.04	(3.49)	10.72

Astronics Corporate Executives

Elected by the shareholders, the Astronics' board of directors comprises two types of representatives: Astronics inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Astronics. The board's role is to monitor Astronics' management team and ensure that shareholders' interests are well served. Astronics' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Astronics' outside directors are responsible for providing unbiased perspectives on the board's policies.

David Burney

CFO, Executive VP and Secretary

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