Altra Industrial Correlations

Summary

AIMCDelisted Stock

USD 61.98 0.00 0.00%

The current 90-days correlation between Altra Industrial Motion and Franklin Electric Co is 0.04 (i.e., Significant diversification). The correlation of Altra Industrial 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.

Altra Industrial Correlation With Market

Significant diversification

The correlation between Altra Industrial Motion and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Altra Industrial Motion and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with Altra Stock

0.94	MSB	Mesabi Trust	Pair Corr
0.64	NTNX	Nutanix Earnings Call Today	Pair Corr
0.83	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.72	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.64	BAC	Bank of America Aggressive Push	Pair Corr
0.7	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.66	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr
0.89	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.88	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.81	T	ATT Inc Sell-off Trend	Pair Corr
0.81	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.81	WMT	Walmart Aggressive Push	Pair Corr
0.8	HPQ	HP Inc	Pair Corr

Moving against Altra Stock

0.78	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.63	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.42	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.38	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	FELE	DCI	JBT	ITT	GGG	YOKEY	YOKEF	NNDNF	VWDRY	FANUY
FELE		0.79	0.5	0.86	0.86	-0.46	0.47	-0.14	-0.58	0.11	FELE
DCI	0.79		0.83	0.81	0.74	-0.77	0.54	-0.28	-0.81	-0.19	DCI
JBT	0.5	0.83		0.68	0.58	-0.79	0.59	-0.3	-0.88	-0.46	JBT
ITT	0.86	0.81	0.68		0.89	-0.64	0.77	-0.24	-0.68	-0.15	ITT
GGG	0.86	0.74	0.58	0.89		-0.57	0.6	-0.2	-0.67	-0.07	GGG
YOKEY	-0.46	-0.77	-0.79	-0.64	-0.57		-0.56	0.23	0.79	0.52	YOKEY
YOKEF	0.47	0.54	0.59	0.77	0.6	-0.56		-0.03	-0.44	-0.38	YOKEF
NNDNF	-0.14	-0.28	-0.3	-0.24	-0.2	0.23	-0.03		0.38	0.15	NNDNF
VWDRY	-0.58	-0.81	-0.88	-0.68	-0.67	0.79	-0.44	0.38		0.45	VWDRY
FANUY	0.11	-0.19	-0.46	-0.15	-0.07	0.52	-0.38	0.15	0.45		FANUY
	FELE	DCI	JBT	ITT	GGG	YOKEY	YOKEF	NNDNF	VWDRY	FANUY

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

GGG	+ 0.89	ITT
ITT	+ 0.86	FELE
GGG	+ 0.86	FELE
JBT	+ 0.83	DCI
ITT	+ 0.81	DCI
DCI	+ 0.79	FELE

High negative correlations

VWDRY	- 0.88	JBT
VWDRY	- 0.81	DCI
YOKEY	- 0.79	JBT
YOKEY	- 0.77	DCI
VWDRY	- 0.68	ITT
VWDRY	- 0.67	GGG

Risk-Adjusted Indicators

There is a big difference between Altra Stock performing well and Altra Industrial 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 Altra Industrial'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
FELE	1.17	(0.09)	0.00	0.07	1.47	(1.33)	2.27	(1.54)	11.41
DCI	0.81	(0.04)	(0.05)	0.07	0.96	(0.91)	1.89	(1.67)	4.00
JBT	1.80	0.43	0.20	0.69	1.48	(1.98)	3.68	(2.61)	21.44
ITT	1.15	0.04	0.08	0.14	1.18	(1.31)	2.61	(1.53)	9.06
GGG	0.89	0.04	0.06	0.15	0.80	(1.00)	1.69	(1.47)	7.51
YOKEY	1.27	(0.08)	0.00	0.65	0.00	0.00	2.62	(4.21)	28.13
YOKEF	0.23	0.09	0.00	0.88	0.00	0.00	0.00	0.00	7.64
NNDNF	9.18	1.58	0.06	(0.20)	11.17	(11.76)	17.82	(15.64)	153.44
VWDRY	2.13	(0.57)	0.00	0.59	0.00	0.00	2.68	(4.92)	18.47
FANUY	1.38	(0.13)	0.00	(1.30)	0.00	0.00	2.89	(2.90)	8.65

View Altra Industrial Related Equities

Franklin Electric Co Donaldson John Bean Technologies ITT Inc Graco Inc Yokogawa Electric Corp Yokogawa Electric Nidec Vestas Wind Systems Fanuc Schneider Electric SA Sandvik AB ADR Ingersoll Rand Berkshire Grey Luxfer Holdings PLC

Risk & Return

Correlation

Still Interested in Altra Industrial Motion?

Investing in delisted delisted stocks can be risky, as the stock is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC