AstroNova Correlations

ALOT Stock

USD 9.31 0.01 0.11%

The current 90-days correlation between AstroNova and Planet Image International is 0.09 (i.e., Significant 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

Poor diversification

The correlation between AstroNova and DJI is 0.68 (i.e., Poor 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.

Build AI portfolio with AstroNova Stock

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 metropolitan statistical area.

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

Moving together with AstroNova Stock

0.65	OSS	One Stop Systems	Pair Corr
0.64	STX	Seagate Technology PLC	Pair Corr
0.73	WDC	Western Digital	Pair Corr
0.82	ALCBX	Cibox Interctive	Pair Corr
0.71	WBT	Weebit Nano	Pair Corr

Moving against AstroNova Stock

0.84	HPQ	HP Inc Earnings Call This Week	Pair Corr
0.77	LOGI	Logitech International	Pair Corr
0.76	ALDRV	Drone Volt SA	Pair Corr
0.72	AAPL	Apple Inc CDR	Pair Corr
0.51	XRX	Xerox Corp	Pair Corr
0.51	5PD	Prodways Group SA	Pair Corr
0.49	KODK	Eastman Kodak	Pair Corr
0.47	MLOCT	Octopus Robots SA	Pair Corr
0.44	IONQ	IONQ Inc Buyout Trend	Pair Corr
0.42	LHL1	Lenovo Group Limited Earnings Call Tomorrow	Pair Corr
0.38	FWDI	Forward Industries Symbol Change	Pair Corr
0.31	XAR	Xaar plc	Pair Corr
0.78	LOGN	Logitech International	Pair Corr
0.76	TACT	TransAct Technologies	Pair Corr
0.74	NTAP	NetApp Inc	Pair Corr
0.7	BOXL	Boxlight Corp Class	Pair Corr
0.69	AAPL	Apple Inc	Pair Corr
0.68	CRSR	Corsair Gaming Trending	Pair Corr
0.68	DELL	Dell Technologies	Pair Corr
0.67	GUI	Guillemot SA	Pair Corr
0.58	QMCO	Quantum	Pair Corr
0.54	TBCH	Turtle Beach	Pair Corr
0.52	PMTS	CPI Card Group	Pair Corr

Related Correlations Analysis

	YIBO	QMCO	MSAI	UAVS	AMPG	INVE	TACT	ZENV	SNCR	QH
YIBO		0.58	0.61	0.09	0.09	0.27	0.51	0.64	-0.42	0.23	YIBO
QMCO	0.58		0.4	0.38	0.36	0.45	0.71	0.61	-0.18	0.59	QMCO
MSAI	0.61	0.4		0.1	-0.36	0.38	0.66	0.85	-0.8	0.14	MSAI
UAVS	0.09	0.38	0.1		0.63	0.19	0.19	-0.04	-0.06	-0.09	UAVS
AMPG	0.09	0.36	-0.36	0.63		-0.02	-0.03	-0.27	0.28	-0.04	AMPG
INVE	0.27	0.45	0.38	0.19	-0.02		0.4	0.36	-0.05	0.43	INVE
TACT	0.51	0.71	0.66	0.19	-0.03	0.4		0.78	-0.62	0.4	TACT
ZENV	0.64	0.61	0.85	-0.04	-0.27	0.36	0.78		-0.74	0.42	ZENV
SNCR	-0.42	-0.18	-0.8	-0.06	0.28	-0.05	-0.62	-0.74		0.08	SNCR
QH	0.23	0.59	0.14	-0.09	-0.04	0.43	0.4	0.42	0.08		QH
	YIBO	QMCO	MSAI	UAVS	AMPG	INVE	TACT	ZENV	SNCR	QH

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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

ZENV	+ 0.85	MSAI
ZENV	+ 0.78	TACT
TACT	+ 0.71	QMCO
TACT	+ 0.66	MSAI
ZENV	+ 0.64	YIBO
AMPG	+ 0.63	UAVS

High negative correlations

SNCR	- 0.8	MSAI
SNCR	- 0.74	ZENV
SNCR	- 0.62	TACT
SNCR	- 0.42	YIBO
AMPG	- 0.36	MSAI
ZENV	- 0.27	AMPG

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
YIBO	4.00	(0.43)	0.00	(0.87)	0.00	0.00	7.48	(9.09)	54.49
QMCO	4.19	(0.60)	0.00	(0.10)	0.00	0.00	8.53	(8.39)	27.14
MSAI	5.99	(2.06)	0.00	(0.43)	0.00	0.00	11.11	(15.91)	41.43
UAVS	6.77	(0.28)	0.00	0.00	0.00	0.00	15.73	(9.70)	66.75
AMPG	4.33	0.01	0.01	0.06	4.61	(4.89)	11.28	(6.67)	31.09
INVE	2.48	(0.30)	0.00	(0.86)	0.00	0.00	4.62	(5.23)	15.58
TACT	2.39	(0.25)	0.00	(0.42)	0.00	0.00	6.34	(4.62)	17.73
ZENV	2.50	(0.68)	0.00	(1.80)	0.00	0.00	4.67	(7.09)	15.64
SNCR	2.68	0.93	0.34	1.10	1.57	(3.15)	5.57	(4.76)	66.10
QH	5.47	0.45	0.07	0.37	6.33	(6.56)	20.61	(10.27)	65.89

AstroNova Corporate Management

Thomas DeByle	Treasurer VP	Profile
Thomas CPA	Treasurer VP	Profile
Jorik Ittmann	Senior Identification	Profile
Matthew Cook	Vice Development	Profile
Michelle Graban	Deputy Resources	Profile
Raj Ramasamy	Chief Officer	Profile
Peter Rosenblum	Secretary	Profile

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