Aspen Aerogels Correlations

ASPN Stock

USD 7.04 0.11 1.59%

The current 90-days correlation between Aspen Aerogels and Ardmore Shpng is 0.22 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Aspen Aerogels moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Aspen Aerogels moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Aspen Aerogels Correlation With Market

Average diversification

The correlation between Aspen Aerogels and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Aspen Aerogels 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 Aspen Aerogels. 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.

To learn how to invest in Aspen Stock, please use our How to Invest in Aspen Aerogels guide.

Moving together with Aspen Stock

0.77	NX	Quanex Building Products	Pair Corr
0.76	OC	Owens Corning	Pair Corr
0.81	TT	Trane Technologies plc	Pair Corr
0.8	FBIN	Fortune Brands Innov	Pair Corr
0.79	CSL	Carlisle Companies	Pair Corr
0.79	GMS	GMS Inc	Pair Corr
0.73	LPX	Louisiana Pacific	Pair Corr
0.83	ILAG	Intelligent Living	Pair Corr
0.85	JELD	Jeld Wen Holding	Pair Corr
0.86	AAON	AAON Inc	Pair Corr
0.76	AEHL	Antelope Enterprise	Pair Corr
0.64	AIRJ	Montana Technologies	Pair Corr
0.68	APOG	Apogee Enterprises	Pair Corr
0.66	AZEK	Azek Company	Pair Corr
0.67	BLDR	Builders FirstSource	Pair Corr
0.84	TREX	Trex Company	Pair Corr
0.86	CSTE	Caesarstone	Pair Corr
0.83	J	Jacobs Solutions	Pair Corr
0.91	BV	BrightView Holdings	Pair Corr

Moving against Aspen Stock

0.59	JBI	Janus International	Pair Corr
0.6	ROCK	Gibraltar Industries Downward Rally	Pair Corr
0.86	EH	Ehang Holdings	Pair Corr
0.82	BZ	Kanzhun Ltd ADR	Pair Corr
0.72	DE	Deere Company	Pair Corr

Related Correlations Analysis

	APYX	CCS	ASC	AAT	ASGN
APYX		0.58	0.59	0.85	0.67	APYX
CCS	0.58		0.4	0.7	0.71	CCS
ASC	0.59	0.4		0.62	0.81	ASC
AAT	0.85	0.7	0.62		0.78	AAT
ASGN	0.67	0.71	0.81	0.78		ASGN
	APYX	CCS	ASC	AAT	ASGN

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Risk-Adjusted Indicators

There is a big difference between Aspen Stock performing well and Aspen Aerogels 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 Aspen Aerogels' 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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
APYX	3.32	(0.37)	(0.30)	6.42	(8.97)	19.92
CCS	1.73	(0.19)	(0.28)	4.10	(3.25)	8.95
ASC	2.03	(0.08)	(0.39)	5.08	(5.08)	13.83
AAT	1.39	(0.42)	4.31	2.44	(3.21)	9.27
ASGN	1.62	(0.40)	(0.55)	2.64	(4.79)	9.60

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