Alpha Pro Correlations

APT Stock

USD 5.08 0.06 1.17%

The current 90-days correlation between Alpha Pro Tech and Atlas Engineered Products is 0.05 (i.e., Significant diversification). The correlation of Alpha Pro 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.

Alpha Pro Correlation With Market

Significant diversification

The correlation between Alpha Pro Tech and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alpha Pro Tech 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 Alpha Pro Tech. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving against Alpha Stock

0.49	ROCK	Gibraltar Industries	Pair Corr
0.38	JBI	Janus International	Pair Corr
0.32	SWIM	Latham Group	Pair Corr
0.5	BZ	Kanzhun Ltd ADR	Pair Corr
0.35	LZ	LegalZoom	Pair Corr

Related Correlations Analysis

	TREX	NX	AWI	ROCK	APOG	TVPKF	TPRKY	AFIIQ	JBI	TILE
TREX		0.79	0.39	-0.3	0.64	0.0	0.83	0.0	-0.26	0.95	TREX
NX	0.79		0.16	-0.09	0.88	0.0	0.66	0.0	-0.44	0.84	NX
AWI	0.39	0.16		0.29	-0.11	0.0	0.48	0.0	0.47	0.17	AWI
ROCK	-0.3	-0.09	0.29		-0.09	0.0	-0.28	0.0	0.45	-0.4	ROCK
APOG	0.64	0.88	-0.11	-0.09		0.0	0.56	0.0	-0.5	0.73	APOG
TVPKF	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	TVPKF
TPRKY	0.83	0.66	0.48	-0.28	0.56	0.0		0.0	-0.15	0.78	TPRKY
AFIIQ	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	AFIIQ
JBI	-0.26	-0.44	0.47	0.45	-0.5	0.0	-0.15	0.0		-0.42	JBI
TILE	0.95	0.84	0.17	-0.4	0.73	0.0	0.78	0.0	-0.42		TILE
	TREX	NX	AWI	ROCK	APOG	TVPKF	TPRKY	AFIIQ	JBI	TILE

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

TILE	+ 0.95	TREX
APOG	+ 0.88	NX
TILE	+ 0.84	NX
TPRKY	+ 0.83	TREX
NX	+ 0.79	TREX
TILE	+ 0.78	TPRKY

High negative correlations

JBI	- 0.5	APOG
JBI	- 0.44	NX
TILE	- 0.42	JBI
TILE	- 0.4	ROCK
ROCK	- 0.3	TREX
TPRKY	- 0.28	ROCK

Risk-Adjusted Indicators

There is a big difference between Alpha Stock performing well and Alpha Pro 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 Alpha Pro'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
TREX	1.73	(0.32)	0.00	(0.28)	0.00	0.00	2.68	(4.07)	12.61
NX	2.35	(0.43)	0.00	(0.41)	0.00	0.00	4.08	(4.81)	17.75
AWI	1.22	(0.05)	0.00	(0.11)	0.00	0.00	2.26	(2.25)	8.90
ROCK	1.53	0.01	0.00	(0.07)	0.00	0.00	3.06	(3.45)	15.02
APOG	1.82	(0.66)	0.00	(0.67)	0.00	0.00	3.11	(3.74)	20.51
TVPKF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TPRKY	1.51	(0.17)	0.00	(0.27)	0.00	0.00	2.78	(3.22)	19.09
AFIIQ	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
JBI	2.11	0.22	0.08	0.12	2.55	(2.32)	5.26	(5.02)	19.17
TILE	1.64	(0.33)	0.00	(0.38)	0.00	0.00	3.16	(4.73)	15.09

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC