Arts Way Correlations

ARTW Stock

USD 1.66 0.01 0.61%

The current 90-days correlation between Arts Way Manufacturing and AmeraMex International is 0.04 (i.e., Significant diversification). The correlation of Arts Way 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.

Arts Way Correlation With Market

Modest diversification

The correlation between Arts Way Manufacturing Co and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Arts Way Manufacturing Co 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 Arts Way Manufacturing Co. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with Arts Stock

0.75	TWI	Titan International	Pair Corr
0.74	NKLA	Nikola Corp	Pair Corr
0.7	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr

Moving against Arts Stock

0.78	MNTX	Manitex International	Pair Corr
0.72	PCAR	PACCAR Inc Fiscal Year End 28th of January 2025	Pair Corr
0.71	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.66	AGCO	AGCO	Pair Corr
0.63	CNH	CNH Industrial NV Symbol Change	Pair Corr
0.57	UGRO	Urban Gro	Pair Corr
0.54	DE	Deere Company	Pair Corr
0.44	GENC	Gencor Industries	Pair Corr
0.44	HYFM	Hydrofarm Holdings	Pair Corr
0.36	OSK	Oshkosh	Pair Corr
0.83	NL	NL Industries	Pair Corr
0.79	BW	Babcock Wilcox Enter	Pair Corr
0.75	B	Barnes Group	Pair Corr
0.75	J	Jacobs Solutions	Pair Corr
0.75	CW	Curtiss Wright	Pair Corr
0.7	AZ	A2Z Smart Technologies	Pair Corr
0.69	IR	Ingersoll Rand	Pair Corr
0.58	DIST	Distoken Acquisition	Pair Corr
0.53	EH	Ehang Holdings	Pair Corr
0.52	R	Ryder System	Pair Corr
0.5	BV	BrightView Holdings	Pair Corr
0.5	DY	Dycom Industries	Pair Corr

Related Correlations Analysis

	FIRRF	AGGZF	AMMX	HIPH	AUSTF	ASTE	ALG	BIIAF	TGHLF	GRSO
FIRRF		0.0	0.0	0.0	0.0	0.0	0.0	-1.0	0.0	0.0	FIRRF
AGGZF	0.0		-0.04	0.05	0.78	-0.32	-0.18	0.0	-0.59	0.0	AGGZF
AMMX	0.0	-0.04		-0.09	-0.07	0.02	-0.03	0.0	0.1	0.0	AMMX
HIPH	0.0	0.05	-0.09		-0.1	0.35	0.36	0.0	-0.32	0.0	HIPH
AUSTF	0.0	0.78	-0.07	-0.1		-0.53	-0.42	0.0	-0.39	0.0	AUSTF
ASTE	0.0	-0.32	0.02	0.35	-0.53		0.94	0.0	-0.09	0.0	ASTE
ALG	0.0	-0.18	-0.03	0.36	-0.42	0.94		0.0	-0.17	0.0	ALG
BIIAF	-1.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	BIIAF
TGHLF	0.0	-0.59	0.1	-0.32	-0.39	-0.09	-0.17	0.0		0.0	TGHLF
GRSO	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		GRSO
	FIRRF	AGGZF	AMMX	HIPH	AUSTF	ASTE	ALG	BIIAF	TGHLF	GRSO

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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

ALG	+ 0.94	ASTE
AUSTF	+ 0.78	AGGZF
ALG	+ 0.36	HIPH
ASTE	+ 0.35	HIPH
TGHLF	+ 0.1	AMMX
HIPH	+ 0.05	AGGZF

High negative correlations

BIIAF	- 1.0	FIRRF
TGHLF	- 0.59	AGGZF
ASTE	- 0.53	AUSTF
ALG	- 0.42	AUSTF
TGHLF	- 0.39	AUSTF
TGHLF	- 0.32	HIPH

Risk-Adjusted Indicators

There is a big difference between Arts Stock performing well and Arts Way 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 Arts Way'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
FIRRF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AGGZF	0.70	(0.08)	0.00	2.54	0.00	0.00	0.79	(1.70)	14.61
AMMX	3.48	(0.41)	0.00	0.41	0.00	0.00	5.71	(7.14)	58.33
HIPH	1.49	(0.67)	0.00	0.98	0.00	0.00	0.00	0.00	50.00
AUSTF	1.24	(0.33)	0.00	(0.14)	0.00	0.00	0.00	0.00	68.68
ASTE	1.71	(0.14)	0.03	0.07	1.65	(2.13)	3.17	(2.45)	16.80
ALG	1.46	(0.09)	(0.01)	0.07	1.51	(1.57)	2.41	(2.40)	12.83
BIIAF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TGHLF	2.08	(0.02)	0.00	0.91	0.00	0.00	5.75	(3.90)	17.61
GRSO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Arts Way Corporate Management

Brian Wrightsman	Vice MFG	Profile
Emily Bailey	Marketing MFG	Profile
Michael Woods	Principal Accounting Officer, Controller	Profile
Michael CPA	Chief Officer	Profile
Mike Loux	Director MFG	Profile

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