Aqua Metals Correlations

AQMS Stock

USD 1.98 0.08 3.88%

The correlation of Aqua Metals 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.

Aqua Metals Correlation With Market

Good diversification

The correlation between Aqua Metals and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Aqua Metals 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 Aqua Metals. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

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

Moving together with Aqua Stock

0.62

DSS

DSS Inc Earnings Call This Week

Pair Corr

Moving against Aqua Stock

0.47	VSEC	VSE Corporation	Pair Corr
0.45	LZ	LegalZoom	Pair Corr
0.41	DRVN	Driven Brands Holdings	Pair Corr
0.38	MG	Mistras Group	Pair Corr
0.32	BR	Broadridge Financial	Pair Corr
0.32	VIRC	Virco Manufacturing	Pair Corr
0.36	EFX	Equifax	Pair Corr
0.35	KAR	KAR Auction Services	Pair Corr

Related Correlations Analysis

	LNZA	WM	CLH	HSC	CWST	SRCL	MEG	HCCI	WCN
LNZA		-0.85	0.57	0.0	-0.26	0.0	0.35	0.0	-0.86	LNZA
WM	-0.85		-0.56	0.0	0.6	0.0	-0.25	0.0	0.97	WM
CLH	0.57	-0.56		0.0	-0.22	0.0	0.63	0.0	-0.42	CLH
HSC	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	HSC
CWST	-0.26	0.6	-0.22	0.0		0.0	0.0	0.0	0.56	CWST
SRCL	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	SRCL
MEG	0.35	-0.25	0.63	0.0	0.0	0.0		0.0	-0.13	MEG
HCCI	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	HCCI
WCN	-0.86	0.97	-0.42	0.0	0.56	0.0	-0.13	0.0		WCN
	LNZA	WM	CLH	HSC	CWST	SRCL	MEG	HCCI	WCN

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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

WCN	+ 0.97	WM
MEG	+ 0.63	CLH
CWST	+ 0.6	WM
CLH	+ 0.57	LNZA
WCN	+ 0.56	CWST
MEG	+ 0.35	LNZA

High negative correlations

WCN	- 0.86	LNZA
WM	- 0.85	LNZA
CLH	- 0.56	WM
WCN	- 0.42	CLH
CWST	- 0.26	LNZA
MEG	- 0.25	WM

Risk-Adjusted Indicators

There is a big difference between Aqua Stock performing well and Aqua Metals 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 Aqua Metals' 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
LNZA	8.18	(0.22)	0.00	(0.15)	0.00	0.00	28.75	(14.37)	49.92
WM	0.76	0.21	0.26	0.32	0.69	(0.77)	1.59	(1.64)	8.07
CLH	1.18	(0.24)	0.00	(0.48)	0.00	0.00	2.12	(3.13)	7.28
HSC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CWST	1.31	0.10	0.10	0.05	1.32	(1.59)	3.28	(2.02)	7.44
SRCL	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MEG	3.81	0.11	0.04	1.34	5.02	(3.99)	7.20	(9.77)	48.62
HCCI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
WCN	0.76	0.16	0.23	0.31	0.73	(0.78)	2.03	(1.50)	5.46

Aqua Metals Corporate Management

Kimberly Setliff	VP	Profile
David Regan	Director Marketing	Profile
Dave McMurtry	Chief Officer	Profile
Stephen Cotton	Chief Commercial Officer	Profile
Benjamin Taecker	Chief Officer	Profile
Eric West	Corporate Controller	Profile

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