American Superconductor Correlations
| AMSC Stock | USD 27.54 1.59 6.13% |
The correlation of American Superconductor 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.
American Superconductor Correlation With Market
Very good diversification
The correlation between American Superconductor and DJI is -0.27 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Superconductor and DJI in the same portfolio, assuming nothing else is changed.
Moving together with American Stock
Moving against American Stock
| 0.58 | JNJ | Johnson Johnson | PairCorr |
| 0.48 | SHPHF | Sihuan Pharmaceutical | PairCorr |
| 0.47 | FCAP | First Capital Normal Trading | PairCorr |
| 0.4 | NFG | National Fuel Gas | PairCorr |
| 0.34 | BIMT | Bitmis Corp | PairCorr |
| 0.65 | MRK | Merck Company Aggressive Push | PairCorr |
| 0.56 | PFE | Pfizer Inc Aggressive Push | PairCorr |
| 0.55 | MCD | McDonalds Earnings Call This Week | PairCorr |
| 0.36 | XOM | Exxon Mobil Corp Aggressive Push | PairCorr |
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 American Stock performing well and American Superconductor 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 American Superconductor'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| NCTKF | 0.23 | (0.13) | 0.00 | (1.10) | 0.00 | 0.00 | 7.54 | |||
| SXI | 1.60 | 0.00 | 0.01 | 0.03 | 2.03 | 3.21 | 12.69 | |||
| SOHVF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| THKLF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| IRRHF | 0.20 | (0.11) | 0.00 | 1.08 | 0.00 | 0.00 | 4.79 | |||
| KRDXF | 0.74 | (0.13) | 0.00 | 1.70 | 0.00 | 2.24 | 12.18 | |||
| JGHAF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| MIURF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| XMTR | 3.18 | 0.39 | 0.09 | 0.31 | 3.65 | 5.19 | 38.74 | |||
| PSIX | 3.93 | (0.31) | 0.00 | (0.09) | 0.00 | 7.68 | 24.47 |