Alamo Correlations

ALG Stock

USD 176.91 1.10 0.62%

The current 90-days correlation between Alamo Group and Power Solutions International is 0.6 (i.e., Poor diversification). The correlation of Alamo 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.

Alamo Correlation With Market

Very poor diversification

The correlation between Alamo Group and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alamo Group and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Alamo Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Alamo Group. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with Alamo Stock

0.87	DCO	Deere Company	Pair Corr
0.87	KOMA	KOMATSU LTD SPONS	Pair Corr
0.93	PFI	Palfinger AG	Pair Corr
0.87	WA9	Wabash National	Pair Corr
0.89	ROI	Rosenbauer International	Pair Corr
0.91	37C	CNH Industrial NV	Pair Corr
0.67	WPRT	Westport Fuel Systems	Pair Corr
0.88	TXG	Terex	Pair Corr
0.83	1RG	REV Group	Pair Corr
0.62	K34	Konecranes Plc	Pair Corr
0.87	KOM1	Komatsu	Pair Corr
0.9	CAT	Caterpillar	Pair Corr
0.91	CMI	Cummins	Pair Corr
0.91	CYD	China Yuchai Interna	Pair Corr
0.66	FSS	Federal Signal	Pair Corr
0.9	GBX	Greenbrier Companies	Pair Corr
0.86	MLR	Miller Industries Earnings Call This Week	Pair Corr
0.88	MTW	Manitowoc	Pair Corr
0.94	OSK	Oshkosh	Pair Corr
0.9	TEX	Terex	Pair Corr
0.76	TRN	Trinity Industries	Pair Corr
0.85	MNGN	Manitowoc	Pair Corr
0.89	WAB	Westinghouse Air Brake	Pair Corr
0.86	WNC	Wabash National	Pair Corr
0.7	X5Q	COMER INDS SPA	Pair Corr
0.88	TZ4	Titan International	Pair Corr
0.9	HCMA	HITACHI CONSTRMACHADR/2	Pair Corr

Moving against Alamo Stock

0.87	BNC	CEA Industries Symbol Change	Pair Corr
0.44	WAC	Wacker Neuson SE	Pair Corr
0.92	FLD	Fold Holdings Class Earnings Call This Week	Pair Corr
0.84	HCAI	Huachen AI Parking	Pair Corr
0.78	GWPD	GP Solutions	Pair Corr
0.51	RAL	Ralliant Common	Pair Corr

Related Correlations Analysis

	PSIX	EPAC	HUBG	REVG	TRN	SBLK	UPWK	AMRC	BWLP	FA
PSIX		0.79	0.09	0.76	0.74	0.71	-0.67	0.23	0.77	-0.74	PSIX
EPAC	0.79		0.34	0.7	0.59	0.63	-0.53	-0.03	0.73	-0.56	EPAC
HUBG	0.09	0.34		0.05	-0.17	0.0	0.3	-0.46	0.16	0.26	HUBG
REVG	0.76	0.7	0.05		0.76	0.9	-0.79	0.28	0.9	-0.84	REVG
TRN	0.74	0.59	-0.17	0.76		0.85	-0.92	0.01	0.87	-0.85	TRN
SBLK	0.71	0.63	0.0	0.9	0.85		-0.86	0.17	0.95	-0.85	SBLK
UPWK	-0.67	-0.53	0.3	-0.79	-0.92	-0.86		-0.14	-0.84	0.89	UPWK
AMRC	0.23	-0.03	-0.46	0.28	0.01	0.17	-0.14		0.0	-0.36	AMRC
BWLP	0.77	0.73	0.16	0.9	0.87	0.95	-0.84	0.0		-0.8	BWLP
FA	-0.74	-0.56	0.26	-0.84	-0.85	-0.85	0.89	-0.36	-0.8		FA
	PSIX	EPAC	HUBG	REVG	TRN	SBLK	UPWK	AMRC	BWLP	FA

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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

BWLP	+ 0.95	SBLK
SBLK	+ 0.9	REVG
BWLP	+ 0.9	REVG
FA	+ 0.89	UPWK
BWLP	+ 0.87	TRN
SBLK	+ 0.85	TRN

High negative correlations

UPWK	- 0.92	TRN
UPWK	- 0.86	SBLK
FA	- 0.85	SBLK
FA	- 0.85	TRN
BWLP	- 0.84	UPWK
FA	- 0.84	REVG

Risk-Adjusted Indicators

There is a big difference between Alamo Stock performing well and Alamo 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 Alamo'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
PSIX	4.49	0.28	0.06	0.11	6.25	(5.03)	8.04	(6.26)	48.13
EPAC	1.48	0.05	0.03	0.07	2.12	(1.55)	3.65	(2.83)	12.80
HUBG	1.73	0.25	0.05	(0.44)	3.63	(1.68)	4.32	(2.28)	22.68
REVG	1.67	0.09	0.02	(0.25)	2.49	(1.70)	3.47	(3.10)	10.23
TRN	1.40	0.44	0.30	(0.96)	0.90	(1.69)	2.93	(1.93)	13.36
SBLK	1.48	0.41	0.17	(57.57)	1.80	(1.57)	3.63	(2.54)	9.64
UPWK	3.02	(0.54)	0.00	(0.30)	0.00	0.00	6.70	(6.58)	26.37
AMRC	2.50	(0.34)	0.00	(0.10)	0.00	0.00	4.66	(5.97)	25.96
BWLP	1.65	0.65	0.35	1.68	1.30	(1.98)	4.28	(2.52)	8.20
FA	2.79	(0.19)	0.00	(0.05)	0.00	0.00	4.29	(7.24)	24.33

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