Alamo Correlations

ALG Stock

USD 202.69 0.54 0.27%

The current 90-days correlation between Alamo Group and Power Solutions International is 0.42 (i.e., Very weak 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 metropolitan statistical area.

Moving together with Alamo Stock

0.73	VELO	Velo3D	Pair Corr
0.87	CAT	Caterpillar	Pair Corr
0.79	CMI	Cummins	Pair Corr
0.82	GBX	Greenbrier Companies	Pair Corr
0.77	MTW	Manitowoc Earnings Call This Week	Pair Corr
0.9	OSK	Oshkosh	Pair Corr
0.89	TEX	Terex	Pair Corr
0.9	WAB	Westinghouse Air Brake	Pair Corr
0.81	WNC	Wabash National	Pair Corr
0.78	6WW	WIMFARM SA EO	Pair Corr
0.63	AFN	Ag Growth International	Pair Corr
0.85	PCAR	PACCAR Inc	Pair Corr
0.9	PLOW	Douglas Dynamics	Pair Corr
0.79	HCM	Hitachi Construction	Pair Corr
0.89	REVG	Rev Group	Pair Corr
0.91	ASTE	Astec Industries	Pair Corr
0.85	RILYL	B Riley Financial	Pair Corr
0.82	TFLM	TFLM	Pair Corr
0.78	FIBK	First Interstate Ban	Pair Corr
0.85	APETF	Alpha Esports Tech	Pair Corr

Moving against Alamo Stock

0.37	BNC	CEA Industries Symbol Change	Pair Corr
0.33	ALH	Alliance Laundry Holdings	Pair Corr
0.77	PBCRY	Bank Central Asia	Pair Corr
0.59	PBCRF	PT Bank Central	Pair Corr
0.48	RVSN	Rail Vision	Pair Corr
0.48	ALL	Allstate Earnings Call This Week	Pair Corr
0.31	NVNIW	Nvni Group Limited	Pair Corr

Related Correlations Analysis

	PSIX	EPAC	HUBG	REVG	TRN	SBLK	UPWK	AMRC	BWLP	FA
PSIX		0.75	0.36	0.64	0.37	0.23	-0.04	0.32	0.57	-0.01	PSIX
EPAC	0.75		0.47	0.65	0.4	0.33	-0.02	0.04	0.67	0.06	EPAC
HUBG	0.36	0.47		0.84	0.87	0.72	0.62	-0.55	0.71	0.43	HUBG
REVG	0.64	0.65	0.84		0.65	0.63	0.4	-0.31	0.8	0.29	REVG
TRN	0.37	0.4	0.87	0.65		0.57	0.54	-0.46	0.56	0.36	TRN
SBLK	0.23	0.33	0.72	0.63	0.57		0.28	-0.21	0.78	-0.11	SBLK
UPWK	-0.04	-0.02	0.62	0.4	0.54	0.28		-0.46	0.02	0.69	UPWK
AMRC	0.32	0.04	-0.55	-0.31	-0.46	-0.21	-0.46		-0.19	-0.46	AMRC
BWLP	0.57	0.67	0.71	0.8	0.56	0.78	0.02	-0.19		-0.12	BWLP
FA	-0.01	0.06	0.43	0.29	0.36	-0.11	0.69	-0.46	-0.12		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

TRN	+ 0.87	HUBG
REVG	+ 0.84	HUBG
BWLP	+ 0.8	REVG
BWLP	+ 0.78	SBLK
EPAC	+ 0.75	PSIX
SBLK	+ 0.72	HUBG

High negative correlations

AMRC	- 0.55	HUBG
FA	- 0.46	AMRC
AMRC	- 0.46	UPWK
AMRC	- 0.46	TRN
AMRC	- 0.31	REVG
AMRC	- 0.21	SBLK

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	3.93	(0.31)	0.00	(0.09)	0.00	0.00	7.68	(8.26)	24.47
EPAC	1.46	(0.01)	0.00	0.03	2.05	(1.61)	3.65	(2.83)	12.80
HUBG	1.38	0.46	0.33	0.35	0.97	(1.67)	4.32	(1.95)	6.55
REVG	1.67	0.08	0.02	(0.39)	2.49	(1.70)	3.47	(3.10)	10.23
TRN	1.28	0.14	0.09	0.19	1.36	(1.42)	2.93	(2.66)	13.36
SBLK	1.40	0.26	0.12	2.30	1.82	(1.46)	3.15	(2.54)	9.64
UPWK	3.01	0.21	0.06	0.38	3.34	(3.24)	7.03	(5.83)	21.77
AMRC	2.47	(0.62)	0.00	(0.31)	0.00	0.00	4.12	(6.38)	11.79
BWLP	1.53	0.30	0.14	(2.57)	1.63	(1.70)	4.00	(2.78)	7.74
FA	2.31	(0.09)	0.00	(0.01)	0.00	0.00	4.29	(5.23)	15.08

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