AptarGroup Correlations

ATR Stock

USD 146.98 0.68 0.46%

The current 90-days correlation between AptarGroup and Merit Medical Systems is 0.27 (i.e., Modest diversification). The correlation of AptarGroup 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.

AptarGroup Correlation With Market

Very weak diversification

The correlation between AptarGroup and DJI is 0.48 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AptarGroup 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 AptarGroup. 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.

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

Moving together with AptarGroup Stock

0.78	UPB	Upstream Bio, Downward Rally	Pair Corr
0.76	GELS	Gelteq Limited Ordinary	Pair Corr
0.64	HURA	TuHURA Biosciences Symbol Change	Pair Corr
0.69	MTVA	MetaVia Symbol Change	Pair Corr
0.66	NAYA	NAYA Biosciences, Symbol Change	Pair Corr

Moving against AptarGroup Stock

0.71	YCBD-PA	cbdMD Inc	Pair Corr
0.68	AVR	Anteris Technologies	Pair Corr
0.58	KDLYW	Kindly MD, Warrants	Pair Corr
0.45	EPRX	Eupraxia Pharmaceuticals	Pair Corr
0.36	STRRP	Star Equity Holdings Earnings Call Tomorrow	Pair Corr
0.72	MRNS	Marinus Pharmaceuticals	Pair Corr
0.65	MPLN	MULTIPLAN P Symbol Change	Pair Corr
0.56	MDCX	Medicus Pharma	Pair Corr
0.47	BDMDW	Baird Medical Investment	Pair Corr
0.43	TLX	Telix Pharmaceuticals	Pair Corr
0.8	NARI	Inari Medical	Pair Corr
0.8	XOMAO	XOMA	Pair Corr
0.69	XOMAP	XOMA Corp	Pair Corr
0.47	NEUP	Neuphoria Therapeutics Symbol Change	Pair Corr
0.37	BLACR	Bellevue Life Sciences	Pair Corr

Related Correlations Analysis

	HAE	MMSI	ANGO	NVST	AKYA	ATRC	ATRI	ICUI	COO	TFX
HAE		-0.51	-0.14	-0.22	0.44	-0.68	0.0	0.29	0.37	0.5	HAE
MMSI	-0.51		0.48	0.73	0.24	0.83	0.0	0.43	0.42	0.17	MMSI
ANGO	-0.14	0.48		0.5	0.67	0.61	0.0	0.62	0.37	0.4	ANGO
NVST	-0.22	0.73	0.5		0.5	0.69	0.0	0.73	0.65	0.59	NVST
AKYA	0.44	0.24	0.67	0.5		0.16	0.0	0.84	0.73	0.82	AKYA
ATRC	-0.68	0.83	0.61	0.69	0.16		0.0	0.32	0.29	0.03	ATRC
ATRI	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	ATRI
ICUI	0.29	0.43	0.62	0.73	0.84	0.32	0.0		0.72	0.86	ICUI
COO	0.37	0.42	0.37	0.65	0.73	0.29	0.0	0.72		0.7	COO
TFX	0.5	0.17	0.4	0.59	0.82	0.03	0.0	0.86	0.7		TFX
	HAE	MMSI	ANGO	NVST	AKYA	ATRC	ATRI	ICUI	COO	TFX

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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

TFX	+ 0.86	ICUI
ICUI	+ 0.84	AKYA
ATRC	+ 0.83	MMSI
TFX	+ 0.82	AKYA
NVST	+ 0.73	MMSI
ICUI	+ 0.73	NVST

High negative correlations

ATRC	- 0.68	HAE
MMSI	- 0.51	HAE
NVST	- 0.22	HAE
ANGO	- 0.14	HAE
TFX	- 0.0	ATRI
COO	- 0.0	ATRI

Risk-Adjusted Indicators

There is a big difference between AptarGroup Stock performing well and AptarGroup 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 AptarGroup'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
HAE	1.81	(0.32)	0.00	(0.74)	0.00	0.00	3.37	(4.20)	15.77
MMSI	1.25	0.04	0.00	(0.06)	0.00	0.00	2.91	(2.72)	7.42
ANGO	2.95	0.29	0.10	0.28	3.01	(3.70)	4.93	(4.95)	46.09
NVST	1.99	(0.09)	0.00	(0.16)	0.00	0.00	3.37	(4.20)	10.92
AKYA	3.84	(0.47)	0.00	4.82	0.00	0.00	6.61	(7.04)	25.17
ATRC	2.16	0.15	0.04	0.03	3.06	(2.08)	4.56	(4.77)	16.13
ATRI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ICUI	1.74	0.00	0.00	(0.10)	0.00	0.00	3.44	(3.61)	12.19
COO	1.38	(0.25)	0.00	(0.47)	0.00	0.00	2.11	(2.58)	9.15
TFX	1.54	(0.34)	0.00	(0.80)	0.00	0.00	2.59	(3.15)	24.93

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