Air Industries Correlations

AIRI Stock

USD 3.86 0.13 3.26%

The current 90-days correlation between Air Industries Group and SIFCO Industries is 0.46 (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 0.12 (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

0.8	CW	Curtiss Wright	Pair Corr
0.62	DPRO	Draganfly Earnings Call Today	Pair Corr
0.71	VTSI	VirTra Inc Earnings Call This Week	Pair Corr
0.65	EVEX	Eve Holding	Pair Corr
0.62	CVU	CPI Aerostructures	Pair Corr
0.71	DCO	Ducommun Incorporated	Pair Corr
0.67	DRS	Leonardo DRS, Common	Pair Corr
0.64	HXL	Hexcel	Pair Corr
0.73	PKE	Park Electrochemical	Pair Corr
0.78	SIF	SIFCO Industries	Pair Corr
0.68	TXT	Textron	Pair Corr

Moving against Air Stock

0.8	RGR	Sturm Ruger	Pair Corr
0.7	EH	Ehang Holdings	Pair Corr
0.62	ERJ	Embraer SA ADR Downward Rally	Pair Corr
0.54	ESLT	Elbit Systems	Pair Corr
0.52	RTX	Raytheon Technologies	Pair Corr
0.45	HWM	Howmet Aerospace	Pair Corr
0.37	SATLW	Satellogic Warrant	Pair Corr
0.37	HEI	Heico	Pair Corr
0.36	AZ	A2Z Smart Technologies	Pair Corr
0.33	CAE	CAE Inc	Pair Corr
0.66	TGI	Triumph Group	Pair Corr
0.52	SARO	StandardAero,	Pair Corr
0.35	TDG	Transdigm Group	Pair Corr
0.33	POWWP	Ammo Preferred Potential Growth	Pair Corr

Related Correlations Analysis

	SIF	CVU	VSEC	NPK	ISSC	TATT	BRSI	AZ	AIR
SIF		0.7	-0.68	0.45	0.75	0.56	0.0	-0.16	0.07	SIF
CVU	0.7		-0.49	0.47	0.9	0.82	0.0	-0.16	0.53	CVU
VSEC	-0.68	-0.49		-0.49	-0.44	-0.21	0.0	0.11	0.25	VSEC
NPK	0.45	0.47	-0.49		0.43	0.45	0.0	0.21	-0.01	NPK
ISSC	0.75	0.9	-0.44	0.43		0.87	0.0	-0.2	0.48	ISSC
TATT	0.56	0.82	-0.21	0.45	0.87		0.0	-0.02	0.5	TATT
BRSI	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	BRSI
AZ	-0.16	-0.16	0.11	0.21	-0.2	-0.02	0.0		-0.24	AZ
AIR	0.07	0.53	0.25	-0.01	0.48	0.5	0.0	-0.24		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

ISSC	+ 0.9	CVU
TATT	+ 0.87	ISSC
TATT	+ 0.82	CVU
ISSC	+ 0.75	SIF
CVU	+ 0.7	SIF
TATT	+ 0.56	SIF

High negative correlations

VSEC	- 0.68	SIF
NPK	- 0.49	VSEC
VSEC	- 0.49	CVU
ISSC	- 0.44	VSEC
AIR	- 0.24	AZ
TATT	- 0.21	VSEC

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	(0.41)	0.00	1.92	0.00	0.00	3.33	(4.74)	28.96
CVU	3.08	0.03	0.02	(0.61)	3.42	(3.55)	6.95	(5.51)	24.65
VSEC	2.04	0.28	0.10	0.42	2.68	(2.06)	4.50	(5.29)	21.51
NPK	1.15	(0.01)	0.00	(0.05)	0.00	0.00	1.78	(2.41)	9.22
ISSC	2.86	(0.07)	0.00	(0.08)	0.00	0.00	5.14	(5.85)	32.27
TATT	2.72	0.03	0.01	0.00	3.89	(2.57)	5.79	(6.65)	17.31
BRSI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AZ	3.38	0.08	0.03	0.28	3.95	(3.92)	7.44	(7.91)	21.12
AIR	1.24	0.17	0.11	0.22	1.42	(1.28)	2.55	(2.75)	12.14

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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