American Superconductor Correlations

AMSC Stock

USD 21.59 1.75 8.82%

The current 90-days correlation between American Superconductor and Graham is 0.37 (i.e., Weak diversification). The correlation of American Superconductor 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.

American Superconductor Correlation With Market

Weak diversification

The correlation between American Superconductor and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Superconductor 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 American Superconductor. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state.

For information on how to trade American Stock refer to our How to Trade American Stock guide.

Moving together with American Stock

0.64	BW	Babcock Wilcox Enter	Pair Corr
0.85	HI	Hillenbrand	Pair Corr
0.67	IR	Ingersoll Rand	Pair Corr
0.75	PH	Parker Hannifin	Pair Corr
0.64	RR	Richtech Robotics Class Buyout Trend	Pair Corr
0.78	ENOV	Enovis Corp	Pair Corr
0.79	CMI	Cummins	Pair Corr
0.73	CXT	Crane NXT	Pair Corr
0.71	DOV	Dover	Pair Corr
0.75	EMR	Emerson Electric	Pair Corr
0.9	FLS	Flowserve	Pair Corr
0.64	GHM	Graham	Pair Corr
0.79	ITT	ITT Inc	Pair Corr
0.62	MIR	Mirion Technologies	Pair Corr
0.69	XMTR	Xometry	Pair Corr
0.71	PNR	Pentair PLC	Pair Corr
0.62	ROK	Rockwell Automation	Pair Corr
0.83	SMR	Nuscale Power Corp	Pair Corr

Moving against American Stock

0.7	CYD	China Yuchai Interna	Pair Corr
0.34	HUHU	HUHUTECH International Trending	Pair Corr

Related Correlations Analysis

	NLLSF	GHM	WTS	CVV	DOV	GGG	ITW	PH	IEX	IVAC
NLLSF		-0.16	-0.19	0.08	-0.55	-0.44	-0.42	-0.52	-0.24	0.12	NLLSF
GHM	-0.16		-0.42	0.76	0.39	-0.22	-0.23	0.45	0.88	-0.89	GHM
WTS	-0.19	-0.42		-0.46	0.39	0.76	0.7	0.34	-0.33	0.43	WTS
CVV	0.08	0.76	-0.46		0.1	-0.31	-0.4	0.16	0.6	-0.76	CVV
DOV	-0.55	0.39	0.39	0.1		0.5	0.41	0.97	0.41	-0.28	DOV
GGG	-0.44	-0.22	0.76	-0.31	0.5		0.88	0.43	-0.1	0.24	GGG
ITW	-0.42	-0.23	0.7	-0.4	0.41	0.88		0.35	0.0	0.25	ITW
PH	-0.52	0.45	0.34	0.16	0.97	0.43	0.35		0.46	-0.33	PH
IEX	-0.24	0.88	-0.33	0.6	0.41	-0.1	0.0	0.46		-0.79	IEX
IVAC	0.12	-0.89	0.43	-0.76	-0.28	0.24	0.25	-0.33	-0.79		IVAC
	NLLSF	GHM	WTS	CVV	DOV	GGG	ITW	PH	IEX	IVAC

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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

PH	+ 0.97	DOV
IEX	+ 0.88	GHM
ITW	+ 0.88	GGG
CVV	+ 0.76	GHM
GGG	+ 0.76	WTS
ITW	+ 0.7	WTS

High negative correlations

IVAC	- 0.89	GHM
IVAC	- 0.79	IEX
IVAC	- 0.76	CVV
DOV	- 0.55	NLLSF
PH	- 0.52	NLLSF
CVV	- 0.46	WTS

Risk-Adjusted Indicators

There is a big difference between American Stock performing well and American Superconductor 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 American Superconductor'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
NLLSF	5.52	0.34	0.04	(0.70)	6.59	(8.29)	10.00	(10.00)	52.86
GHM	2.86	(0.34)	0.00	(0.19)	0.00	0.00	6.02	(6.47)	23.34
WTS	1.28	0.00	0.00	(0.03)	0.00	0.00	2.25	(2.46)	10.44
CVV	2.88	(0.24)	0.00	(1.03)	0.00	0.00	7.41	(7.01)	23.58
DOV	1.17	(0.06)	0.00	(0.09)	0.00	0.00	2.29	(2.85)	8.86
GGG	1.00	(0.03)	0.00	(0.07)	0.00	0.00	1.66	(2.25)	4.96
ITW	1.04	(0.04)	0.00	(0.09)	0.00	0.00	1.95	(2.48)	8.34
PH	1.32	(0.01)	0.00	(0.05)	0.00	0.00	2.42	(3.50)	10.15
IEX	1.14	(0.26)	0.00	(0.44)	0.00	0.00	1.95	(2.43)	12.03
IVAC	1.32	0.27	0.22	(0.81)	0.93	(1.89)	4.07	(2.31)	19.66

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