AstroNova Correlations

ALOT Stock

USD 10.64 0.10 0.93%

The correlation of AstroNova 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.

AstroNova Correlation With Market

Modest diversification

The correlation between AstroNova and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AstroNova 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 AstroNova. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

For more information on how to buy AstroNova Stock please use our How to Invest in AstroNova guide.

Moving together with AstroNova Stock

0.82	DM	Desktop Metal Tech Boost	Pair Corr
0.62	FN	Fabrinet	Pair Corr
0.64	KE	Kimball Electronics	Pair Corr
0.68	KN	Knowles Cor	Pair Corr
0.73	DSWL	Deswell Industries	Pair Corr
0.92	EBON	Ebang International	Pair Corr
0.71	EHGO	Eshallgo Class A	Pair Corr
0.83	EXTR	Extreme Networks	Pair Corr
0.72	APH	Amphenol	Pair Corr
0.74	BDC	Belden Inc	Pair Corr
0.78	BHE	Benchmark Electronics	Pair Corr
0.83	CTS	CTS Corporation	Pair Corr
0.63	HPQ	HP Inc	Pair Corr
0.76	IDN	Intellicheck Mobilisa Earnings Call Today	Pair Corr
0.67	MEI	Methode Electronics	Pair Corr
0.61	MSI	Motorola Solutions	Pair Corr

Moving against AstroNova Stock

0.67	FKWL	Franklin Wireless Corp	Pair Corr
0.35	FFIV	F5 Networks	Pair Corr
0.67	NOK	Nokia Corp ADR Aggressive Push	Pair Corr
0.57	OST	Ostin Technology	Pair Corr
0.46	SNT	Senstar Technologies	Pair Corr
0.45	DLB	Dolby Laboratories	Pair Corr
0.44	OCC	Optical Cable	Pair Corr
0.4	GAUZ	Gauzy Ordinary	Pair Corr

Related Correlations Analysis

	KTCC	INVE	RCAT	STRC	TACT	AGMH	QMCO
KTCC		0.83	0.59	0.0	0.35	0.95	0.54	KTCC
INVE	0.83		0.33	0.0	0.19	0.78	0.31	INVE
RCAT	0.59	0.33		0.0	0.53	0.69	0.77	RCAT
STRC	0.0	0.0	0.0		0.0	0.0	0.0	STRC
TACT	0.35	0.19	0.53	0.0		0.44	0.17	TACT
AGMH	0.95	0.78	0.69	0.0	0.44		0.64	AGMH
QMCO	0.54	0.31	0.77	0.0	0.17	0.64		QMCO
	KTCC	INVE	RCAT	STRC	TACT	AGMH	QMCO

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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

AGMH	+ 0.95	KTCC
INVE	+ 0.83	KTCC
AGMH	+ 0.78	INVE
QMCO	+ 0.77	RCAT
AGMH	+ 0.69	RCAT
QMCO	+ 0.64	AGMH

High negative correlations

QMCO	- 0.0	STRC
AGMH	- 0.0	STRC
TACT	- 0.0	STRC
STRC	- 0.0	RCAT
STRC	- 0.0	INVE
STRC	- 0.0	KTCC

Risk-Adjusted Indicators

There is a big difference between AstroNova Stock performing well and AstroNova 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 AstroNova'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
KTCC	2.70	(0.95)	0.00	3.23	0.00	0.00	4.35	(7.67)	17.39
INVE	2.19	(0.21)	0.00	(0.40)	0.00	0.00	5.56	(4.68)	13.28
RCAT	6.83	0.04	0.00	(0.08)	0.00	0.00	15.04	(11.05)	42.69
STRC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TACT	1.54	0.00	0.00	(0.10)	0.00	0.00	3.23	(2.84)	10.91
AGMH	8.77	(3.26)	0.00	6.64	0.00	0.00	7.69	(27.27)	147.27
QMCO	13.74	2.24	0.17	1.22	11.69	(18.63)	40.09	(16.08)	193.01

AstroNova Corporate Management

Thomas DeByle	Treasurer VP	Profile
Thomas CPA	Treasurer VP	Profile
Peter Rosenblum	Secretary	Profile
Matthew Cook	Vice Development	Profile
Daniel Clevenger	Secretary	Profile

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