AstroNova Correlations

ALOT Stock

USD 11.51 0.22 1.88%

The current 90-days correlation between AstroNova and Key Tronic is 0.22 (i.e., Modest diversification). The correlation of AstroNova 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.

AstroNova Correlation With Market

Modest diversification

The correlation between AstroNova and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AstroNova 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 AstroNova. 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.

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

Moving together with AstroNova Stock

0.61	DM	Desktop Metal Tech Boost	Pair Corr
0.67	HPQ	HP Inc	Pair Corr
0.66	MSI	Motorola Solutions Earnings Call This Week	Pair Corr
0.65	WDC	Western Digital	Pair Corr
0.61	NTAP	NetApp Inc	Pair Corr
0.63	S	SentinelOne	Pair Corr
0.64	ENTG	Entegris	Pair Corr
0.73	KNW	Know Labs	Pair Corr

Moving against AstroNova Stock

0.47	ANET	Arista Networks	Pair Corr
0.46	JNPR	Juniper Networks	Pair Corr
0.45	QBTS	D Wave Quantum	Pair Corr
0.44	NTGR	NETGEAR	Pair Corr
0.43	NOK	Nokia Corp ADR	Pair Corr
0.39	PSTG	Pure Storage	Pair Corr
0.63	FCUV	Focus Universal	Pair Corr
0.54	TER	Teradyne Downward Rally	Pair Corr
0.49	CLFD	Clearfield	Pair Corr
0.48	CIEN	Ciena Corp	Pair Corr
0.48	KLAC	KLA Tencor	Pair Corr

Related Correlations Analysis

	KTCC	INVE	RCAT	STRC	TACT	AGMH	QMCO
KTCC		0.07	-0.76	0.66	-0.39	0.86	-0.81	KTCC
INVE	0.07		0.22	0.13	-0.22	0.21	-0.06	INVE
RCAT	-0.76	0.22		-0.33	0.15	-0.63	0.83	RCAT
STRC	0.66	0.13	-0.33		-0.66	0.72	-0.31	STRC
TACT	-0.39	-0.22	0.15	-0.66		-0.58	0.13	TACT
AGMH	0.86	0.21	-0.63	0.72	-0.58		-0.65	AGMH
QMCO	-0.81	-0.06	0.83	-0.31	0.13	-0.65		QMCO
	KTCC	INVE	RCAT	STRC	TACT	AGMH	QMCO

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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

AGMH	+ 0.86	KTCC
QMCO	+ 0.83	RCAT
AGMH	+ 0.72	STRC
STRC	+ 0.66	KTCC
RCAT	+ 0.22	INVE
AGMH	+ 0.21	INVE

High negative correlations

QMCO	- 0.81	KTCC
RCAT	- 0.76	KTCC
TACT	- 0.66	STRC
QMCO	- 0.65	AGMH
AGMH	- 0.63	RCAT
AGMH	- 0.58	TACT

Risk-Adjusted Indicators

There is a big difference between AstroNova Stock performing well and AstroNova 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 AstroNova'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
KTCC	2.10	(0.70)	0.00	(1.51)	0.00	0.00	4.08	(6.21)	12.17
INVE	2.35	(0.11)	0.00	(0.05)	0.00	0.00	5.12	(4.16)	16.14
RCAT	8.66	2.21	0.28	0.83	7.46	(10.42)	22.88	(13.15)	50.11
STRC	5.00	(0.50)	0.00	1.10	0.00	0.00	12.89	(9.77)	54.79
TACT	1.57	0.03	(0.01)	0.17	1.67	(1.74)	3.93	(2.45)	9.47
AGMH	3.92	(0.74)	0.00	1.22	0.00	0.00	7.09	(10.00)	35.59
QMCO	19.23	5.60	0.37	1.26	12.77	(23.10)	49.98	(28.26)	193.01

AstroNova Corporate Management

Thomas DeByle	Treasurer VP	Profile
Thomas CPA	Treasurer VP	Profile
Peter Rosenblum	Secretary	Profile
Matthew Cook	Vice Development	Profile
Daniel Clevenger	Secretary	Profile

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