Altair Engineering Correlations
| ALTRDelisted Stock | USD 111.85 0.05 0.04% |
The correlation of Altair Engineering 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.
Altair Engineering Correlation With Market
Very poor diversification
The correlation between Altair Engineering and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Altair Engineering and DJI in the same portfolio, assuming nothing else is changed.
Altair |
Moving together with Altair Stock
| 0.68 | KT | KT Corporation | PairCorr |
| 0.73 | CMA | Comerica Incorporated | PairCorr |
| 0.81 | WLK | Westlake Chemical | PairCorr |
| 0.78 | RHHVF | Roche Holding AG | PairCorr |
| 0.78 | ADEA | ADEIA P Tech Boost | PairCorr |
| 0.81 | KRKNF | Kraken Robotics | PairCorr |
| 0.71 | DAWN | Day One Biopharmaceu | PairCorr |
| 0.85 | STRS | Stratus Properties | PairCorr |
| 0.75 | NTRSO | Northern Trust | PairCorr |
| 0.77 | LNN | Lindsay | PairCorr |
| 0.75 | CING | Cingulate | PairCorr |
| 0.73 | GBOOY | Grupo Financiero Banorte | PairCorr |
| 0.8 | VOD | Vodafone Group PLC | PairCorr |
| 0.73 | SBYSF | Sibanye Stillwater | PairCorr |
| 0.8 | MFGCF | Mayfair Gold Corp | PairCorr |
| 0.8 | INGR | Ingredion Incorporated | PairCorr |
| 0.8 | IFS | Intercorp Financial | PairCorr |
| 0.84 | MEEEF | Metal Energy Corp | PairCorr |
| 0.69 | JNJ | Johnson Johnson | PairCorr |
| 0.63 | OTSKY | Otsuka Holdings | PairCorr |
| 0.65 | CLEGF | Coles Group Earnings Call Today | PairCorr |
| 0.75 | VKQ | Invesco Municipal Trust | PairCorr |
| 0.69 | TVFCF | Télévision Française | PairCorr |
| 0.66 | LTSK | Ladenburg Thalmann | PairCorr |
Moving against Altair Stock
Related Correlations Analysis
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Altair Stock performing well and Altair Engineering 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 Altair Engineering'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| PLAN | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| HCP | 0.19 | 0.03 | (0.35) | 1.55 | 0.00 | 0.53 | 1.16 | |||
| MSP | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| NEWR | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| NVEI | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| FEYE | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| SWDAF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| ESMT | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| GEN | 1.49 | (0.37) | 0.00 | (0.11) | 0.00 | 2.29 | 12.64 | |||
| PFPT | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Altair Engineering Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Altair Engineering stock to make a market-neutral strategy. Peer analysis of Altair Engineering could also be used in its relative valuation, which is a method of valuing Altair Engineering by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Altair Engineering Corporate Management
| Matthew Brown | Chief Officer | Profile | |
| Nelson Dias | Chief Officer | Profile | |
| Stephanie Buckner | Chief Officer | Profile | |
| Srikanth Mahalingam | Chief Officer | Profile | |
| Gilma Saravia | Chief Officer | Profile | |
| Martin Nichols | Chief Officer | Profile | |
| David Simon | Senior Relations | Profile |
Still Interested in Altair Engineering?
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