Ametek Correlations

Stocks . UK . 
Stock . Ametek Inc
0HF7 Stock   183.87  1.44  0.79%   
The current 90-days correlation between Ametek Inc and Hyundai Motor is 0.02 (i.e., Significant diversification). The correlation of Ametek 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.

Ametek Correlation With Market

Significant diversification

The correlation between Ametek Inc and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ametek Inc and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Ametek could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Ametek 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 Ametek - 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 Ametek Inc to buy it.

Moving together with Ametek Stock

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  0.79HSBA HSBC Holdings PLCPairCorr
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Moving against Ametek Stock

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Related Correlations Analysis

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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   
SMSD
+ 0.98
SMSN
RIGD
+ 0.91
SMSN
RIGD
+ 0.9
SMSD
HYUD
+ 0.88
SMSN
HYUD
+ 0.88
SMSD
RIGD
+ 0.88
HYUD
  
High negative correlations   
HSBK
- 0.88
HYUD
HSBK
- 0.84
SMSN
HSBK
- 0.79
SMSD
HSBK
- 0.77
RIGD
0QYR
- 0.75
HYUD
0QYR
- 0.72
SMSD

Risk-Adjusted Indicators

There is a big difference between Ametek Stock performing well and Ametek 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 Ametek'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Ametek 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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Ametek Corporate Management

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