Air Industries Correlations

AIRI Stock

USD 4.14 0.09 2.13%

The current 90-days correlation between Air Industries Group and SIFCO Industries is 0.43 (i.e., Very weak diversification). The correlation of Air Industries 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.

Air Industries Correlation With Market

Average diversification

The correlation between Air Industries Group 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 Air Industries Group and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Air Industries Group. 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.

Moving together with Air Stock

0.85	GD	General Dynamics	Pair Corr
0.61	VSEC	VSE Corporation	Pair Corr
0.74	LHX	L3Harris Technologies	Pair Corr
0.69	LMT	Lockheed Martin	Pair Corr
0.75	NOC	Northrop Grumman	Pair Corr
0.81	RGR	Sturm Ruger Earnings Call This Week	Pair Corr

Moving against Air Stock

0.81	CAE	CAE Inc Upward Rally	Pair Corr
0.6	BA-PA	Boeing	Pair Corr
0.6	EVEX	Eve Holding	Pair Corr
0.59	BA	Boeing	Pair Corr
0.52	PL	Planet Labs PBC	Pair Corr
0.52	SATLW	Satellogic Warrant	Pair Corr
0.49	ESLT	Elbit Systems	Pair Corr
0.48	AZ	A2Z Smart Technologies	Pair Corr
0.46	CVU	CPI Aerostructures	Pair Corr
0.41	DPRO	Draganfly Downward Rally	Pair Corr
0.31	HXL	Hexcel	Pair Corr
0.72	RKLB	Rocket Lab USA Aggressive Push	Pair Corr
0.66	SPR	Spirit Aerosystems	Pair Corr
0.65	ACHR	Archer Aviation Earnings Call This Week	Pair Corr
0.6	NPK	National Presto Indu Earnings Call Tomorrow	Pair Corr
0.59	AOUT	American Outdoor Brands	Pair Corr
0.54	PRZO	ParaZero Technologies	Pair Corr
0.54	SATL	Satellogic V	Pair Corr
0.49	RDW	Redwire Corp	Pair Corr
0.49	LUNRW	Intuitive Machines	Pair Corr
0.45	MNTSW	Momentus	Pair Corr

Related Correlations Analysis

	SIF	CVU	VSEC	NPK	ISSC	TATT	BRSI	AZ	AIR
SIF		-0.06	0.34	-0.08	-0.06	0.02	-0.02	0.08	0.25	SIF
CVU	-0.06		-0.58	0.76	0.85	0.84	-0.6	0.25	0.32	CVU
VSEC	0.34	-0.58		-0.8	-0.4	-0.58	0.7	-0.3	0.42	VSEC
NPK	-0.08	0.76	-0.8		0.66	0.87	-0.93	0.35	-0.18	NPK
ISSC	-0.06	0.85	-0.4	0.66		0.84	-0.51	0.19	0.35	ISSC
TATT	0.02	0.84	-0.58	0.87	0.84		-0.8	0.44	0.07	TATT
BRSI	-0.02	-0.6	0.7	-0.93	-0.51	-0.8		-0.39	0.26	BRSI
AZ	0.08	0.25	-0.3	0.35	0.19	0.44	-0.39		-0.25	AZ
AIR	0.25	0.32	0.42	-0.18	0.35	0.07	0.26	-0.25		AIR
	SIF	CVU	VSEC	NPK	ISSC	TATT	BRSI	AZ	AIR

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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

TATT	+ 0.87	NPK
ISSC	+ 0.85	CVU
TATT	+ 0.84	CVU
TATT	+ 0.84	ISSC
NPK	+ 0.76	CVU
BRSI	+ 0.7	VSEC

High negative correlations

BRSI	- 0.93	NPK
BRSI	- 0.8	TATT
NPK	- 0.8	VSEC
BRSI	- 0.6	CVU
TATT	- 0.58	VSEC
VSEC	- 0.58	CVU

Risk-Adjusted Indicators

There is a big difference between Air Stock performing well and Air Industries 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 Air Industries' 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
SIF	2.53	0.17	0.04	(0.87)	4.07	(2.88)	5.22	(4.64)	28.04
CVU	3.09	0.50	0.14	0.57	3.24	(4.02)	7.12	(5.51)	22.57
VSEC	1.73	(0.27)	0.00	(1.37)	0.00	0.00	3.31	(5.52)	12.42
NPK	1.17	0.40	0.32	1.02	0.88	(1.36)	2.81	(1.83)	7.54
ISSC	2.31	0.28	0.07	0.36	3.65	(2.52)	5.14	(4.94)	19.13
TATT	3.04	0.72	0.20	(30.41)	3.22	(3.47)	6.94	(5.18)	24.00
BRSI	1.79	(0.92)	0.00	(0.89)	0.00	0.00	0.00	0.00	60.00
AZ	2.80	0.25	0.08	3.43	3.10	(3.24)	7.44	(5.26)	20.65
AIR	1.36	(0.02)	0.00	(0.04)	0.00	0.00	2.55	(2.60)	11.40

Air Industries Corporate Executives

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

Scott Glassman

Principal CFO

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