AAON Correlations

AAON Stock

USD 135.56 3.51 2.66%

The current 90-days correlation between AAON Inc and Quanex Building Products is 0.17 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as AAON moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if AAON Inc moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

AAON Correlation With Market

Very weak diversification

The correlation between AAON Inc 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 AAON Inc 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 AAON Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving together with AAON Stock

0.73	NX	Quanex Building Products Fiscal Year End 12th of December 2024	Pair Corr
0.92	OC	Owens Corning	Pair Corr
0.89	TT	Trane Technologies plc	Pair Corr
0.62	VKSC	Viskase Companies	Pair Corr
0.95	AWI	Armstrong World Indu	Pair Corr
0.82	GMS	GMS Inc	Pair Corr
0.97	JCI	Johnson Controls Int Fiscal Year End 10th of December 2024	Pair Corr
0.81	LII	Lennox International	Pair Corr
0.85	LPX	Louisiana Pacific	Pair Corr
0.83	PPIH	Perma Pipe Internati	Pair Corr
0.9	APOG	Apogee Enterprises	Pair Corr
0.74	AZEK	Azek Company Fiscal Year End 26th of November 2024	Pair Corr
0.79	TILE	Interface	Pair Corr
0.69	TREX	Trex Company	Pair Corr
0.78	B	Barnes Group	Pair Corr
0.81	J	Jacobs Solutions	Pair Corr
0.92	R	Ryder System	Pair Corr
0.88	DIST	Distoken Acquisition	Pair Corr
0.72	AL	Air Lease	Pair Corr

Moving against AAON Stock

0.8	ASPN	Aspen Aerogels	Pair Corr
0.79	JBI	Janus International	Pair Corr
0.78	AEHL	Antelope Enterprise	Pair Corr
0.63	APT	Alpha Pro Tech	Pair Corr
0.53	JELD	Jeld Wen Holding	Pair Corr
0.46	WMS	Advanced Drainage Systems	Pair Corr
0.4	AIRJW	Montana Technologies Symbol Change	Pair Corr
0.33	AFIIQ	Armstrong Flooring	Pair Corr
0.79	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.76	CSTE	Caesarstone	Pair Corr
0.72	CP	Canadian Pacific Railway	Pair Corr
0.62	MG	Mistras Group	Pair Corr
0.39	FA	First Advantage Corp	Pair Corr
0.35	AP	Ampco Pittsburgh	Pair Corr
0.31	FC	Franklin Covey	Pair Corr

Related Correlations Analysis

	NX	ROCK	AWI	BECN	JBI	TREX	APOG	TT	MAS	JELD
NX		0.22	0.79	0.77	-0.53	0.51	0.78	0.67	0.19	-0.44	NX
ROCK	0.22		0.45	0.35	-0.33	0.66	0.42	0.46	0.22	-0.17	ROCK
AWI	0.79	0.45		0.91	-0.82	0.67	0.93	0.86	0.13	-0.61	AWI
BECN	0.77	0.35	0.91		-0.68	0.5	0.88	0.75	0.0	-0.63	BECN
JBI	-0.53	-0.33	-0.82	-0.68		-0.73	-0.68	-0.56	0.2	0.7	JBI
TREX	0.51	0.66	0.67	0.5	-0.73		0.54	0.5	0.08	-0.39	TREX
APOG	0.78	0.42	0.93	0.88	-0.68	0.54		0.87	0.29	-0.44	APOG
TT	0.67	0.46	0.86	0.75	-0.56	0.5	0.87		0.49	-0.24	TT
MAS	0.19	0.22	0.13	0.0	0.2	0.08	0.29	0.49		0.63	MAS
JELD	-0.44	-0.17	-0.61	-0.63	0.7	-0.39	-0.44	-0.24	0.63		JELD
	NX	ROCK	AWI	BECN	JBI	TREX	APOG	TT	MAS	JELD

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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

APOG	+ 0.93	AWI
BECN	+ 0.91	AWI
APOG	+ 0.88	BECN
TT	+ 0.87	APOG
TT	+ 0.86	AWI
AWI	+ 0.79	NX

High negative correlations

JBI	- 0.82	AWI
TREX	- 0.73	JBI
APOG	- 0.68	JBI
JBI	- 0.68	BECN
JELD	- 0.63	BECN
JELD	- 0.61	AWI

Risk-Adjusted Indicators

There is a big difference between AAON Stock performing well and AAON 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 AAON'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
NX	1.98	0.10	0.03	0.21	2.56	(2.28)	4.43	(2.75)	32.55
ROCK	1.46	(0.03)	0.01	0.07	1.62	(1.66)	2.88	(2.19)	8.68
AWI	0.93	0.28	0.26	0.35	0.56	(1.04)	2.35	(1.38)	5.22
BECN	1.74	0.27	0.16	0.28	1.54	(1.99)	3.74	(2.18)	11.44
JBI	2.06	(0.71)	0.00	(0.26)	0.00	0.00	3.00	(4.22)	33.52
TREX	1.54	0.03	0.02	0.12	1.86	(1.67)	3.40	(2.93)	10.25
APOG	1.93	0.24	0.19	0.19	1.57	(2.46)	3.73	(2.93)	28.75
TT	1.03	0.18	0.11	0.29	1.24	(1.12)	2.36	(1.84)	6.50
MAS	0.89	(0.03)	(0.06)	0.03	1.15	(0.88)	1.64	(1.94)	6.15
JELD	2.39	(0.47)	0.00	(0.22)	0.00	0.00	3.93	(5.43)	37.15

AAON Corporate Management

Stephen Wakefield	VP Oklahoma	Profile
Christopher Eason	Chief Officer	Profile
Joseph CFA	Director Relations	Profile
Luke Bomer	Secretary	Profile

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