Allient Correlations

ALNT Stock

65.84 1.29 1.92%

The current 90-days correlation between Allient and Daktronics is 0.32 (i.e., Weak diversification). The correlation of Allient 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.

Allient Correlation With Market

Very poor diversification

The correlation between Allient and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Allient and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Allient Stock

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

For more information on how to buy Allient Stock please use our How to Invest in Allient guide.

Moving together with Allient Stock

0.86	ST	Sensata Technologies	Pair Corr
0.87	P4L	PREFORMED LINE PROD	Pair Corr
0.91	VICR	Vicor Tech Boost	Pair Corr
0.7	4LG	LANDISGYR GROUP AG	Pair Corr
0.62	ELVA	Electrovaya	Pair Corr
0.83	WATT	Energous	Pair Corr
0.61	ALDBT	DBT SA	Pair Corr
0.95	AME	Ametek Inc	Pair Corr
0.92	EMR	Emerson Electric	Pair Corr
0.88	ENS	Enersys	Pair Corr
0.93	ESP	Espey Mfg Electronics	Pair Corr
0.79	ETN	Eaton PLC	Pair Corr
0.85	NVT	nVent Electric PLC	Pair Corr
0.89	NXT	Nextracker Class A	Pair Corr
0.96	RBC	RBC Bearings	Pair Corr

Moving against Allient Stock

0.88	0LT	Leoch International	Pair Corr
0.87	PN	Skycorp Solar Group	Pair Corr
0.83	AYI	Acuity Brands	Pair Corr
0.81	2V3	VPower Group Interna	Pair Corr
0.71	ENVX	Enovix Corp	Pair Corr
0.61	EAF	GrafTech International	Pair Corr
0.54	EFOI	Energy Focu	Pair Corr
0.48	ELPW	Elong Power Holding	Pair Corr
0.32	FLUX	Flux Power Holdings	Pair Corr
0.85	XLE1	LEGEND POWER SYS Earnings Call This Week	Pair Corr
0.84	AQ8	Acuity Brands	Pair Corr
0.83	MLITN	Italy Innovazioni SpA	Pair Corr
0.82	GWH	ESS Tech	Pair Corr
0.7	2F0	AB Fagerhult	Pair Corr
0.65	STI	Solidion Technology	Pair Corr
0.54	HMM-A	Hammond Manufacturing Earnings Call This Week	Pair Corr
0.36	XCH	XCHG Limited American	Pair Corr
0.31	ZEO	Zeo Energy Corp	Pair Corr

Related Correlations Analysis

	DAKT	PENG	SCSC	NTGR	LYTS	RDWR	BKSY	CTS	ARQQ	SSYS
DAKT		-0.39	-0.62	-0.87	0.86	0.47	0.28	0.93	-0.87	0.68	DAKT
PENG	-0.39		0.32	0.46	-0.33	-0.13	-0.03	-0.39	0.55	-0.24	PENG
SCSC	-0.62	0.32		0.42	-0.36	-0.35	0.08	-0.51	0.65	-0.16	SCSC
NTGR	-0.87	0.46	0.42		-0.89	-0.42	-0.48	-0.9	0.84	-0.79	NTGR
LYTS	0.86	-0.33	-0.36	-0.89		0.55	0.43	0.95	-0.75	0.83	LYTS
RDWR	0.47	-0.13	-0.35	-0.42	0.55		0.41	0.62	-0.37	0.62	RDWR
BKSY	0.28	-0.03	0.08	-0.48	0.43	0.41		0.37	-0.02	0.79	BKSY
CTS	0.93	-0.39	-0.51	-0.9	0.95	0.62	0.37		-0.81	0.81	CTS
ARQQ	-0.87	0.55	0.65	0.84	-0.75	-0.37	-0.02	-0.81		-0.44	ARQQ
SSYS	0.68	-0.24	-0.16	-0.79	0.83	0.62	0.79	0.81	-0.44		SSYS
	DAKT	PENG	SCSC	NTGR	LYTS	RDWR	BKSY	CTS	ARQQ	SSYS

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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

CTS	+ 0.95	LYTS
CTS	+ 0.93	DAKT
LYTS	+ 0.86	DAKT
ARQQ	+ 0.84	NTGR
SSYS	+ 0.83	LYTS
SSYS	+ 0.81	CTS

High negative correlations

CTS	- 0.9	NTGR
LYTS	- 0.89	NTGR
ARQQ	- 0.87	DAKT
NTGR	- 0.87	DAKT
ARQQ	- 0.81	CTS
SSYS	- 0.79	NTGR

Risk-Adjusted Indicators

There is a big difference between Allient Stock performing well and Allient 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 Allient'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
DAKT	1.88	0.47	0.23	0.42	1.69	(2.29)	3.82	(2.85)	24.79
PENG	2.32	0.27	0.06	6.41	3.18	(2.67)	5.14	(3.52)	20.51
SCSC	1.71	(0.23)	0.00	(0.04)	0.00	0.00	2.79	(3.87)	22.44
NTGR	1.55	(0.35)	0.00	(0.35)	0.00	0.00	2.58	(3.45)	10.74
LYTS	1.60	0.17	0.11	0.20	1.74	(1.88)	3.36	(2.73)	21.02
RDWR	1.55	(0.01)	0.00	0.07	2.27	(1.52)	3.26	(3.69)	12.65
BKSY	4.96	0.30	0.07	0.21	5.72	(5.46)	10.49	(10.23)	24.47
CTS	1.38	0.25	0.17	0.26	1.27	(1.47)	3.33	(2.54)	7.98
ARQQ	4.12	(0.76)	0.00	(0.12)	0.00	0.00	7.88	(9.18)	25.62
SSYS	2.29	0.02	0.06	0.09	2.18	(2.75)	6.06	(3.70)	19.51

Allient Corporate Management

Helmut Pirthauer	VP Group	Profile
Steve Warzala	Corporate Officer	Profile
Joseph JD	Secretary	Profile
Nicholas Hoffman	Secretary	Profile
Joseph Kubarek	Secretary	Profile

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