Astrotech Corp Correlations

ASTC Stock  USD 6.54  0.13  2.03%   
The current 90-days correlation between Astrotech Corp and SIFCO Industries is 0.18 (i.e., Average diversification). The correlation of Astrotech Corp 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.

Astrotech Corp Correlation With Market

Good diversification

The correlation between Astrotech Corp and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Astrotech Corp 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 Astrotech Corp. 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.
For information on how to trade Astrotech Stock refer to our How to Trade Astrotech Stock guide.

Moving together with Astrotech Stock

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  0.67COHR CoherentPairCorr

Moving against Astrotech Stock

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  0.63ESE ESCO TechnologiesPairCorr
  0.45WRAP Wrap TechnologiesPairCorr
  0.4SVREW SaverOne 2014PairCorr
  0.37LGL LGL GroupPairCorr
  0.35GRMN Garmin Sell-off TrendPairCorr
  0.31TDY Teledyne TechnologiesPairCorr
  0.64G Genpact LimitedPairCorr
  0.35BR Broadridge FinancialPairCorr

Related Correlations Analysis

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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   
CODASIF
PKESIF
TATTCVU
CODAPKE
PKECVU
SIFCVU
  
High negative correlations   
CODAATRO
ATROSIF
ATROPKE
ATROCVU
ATROKITT
MRCYCODA

Risk-Adjusted Indicators

There is a big difference between Astrotech Stock performing well and Astrotech Corp 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 Astrotech Corp'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.

Astrotech Corp Corporate Management