American Superconductor Correlations

AMSC Stock

USD 33.21 1.63 5.16%

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

Good diversification

The correlation between American Superconductor and DJI is -0.13 (i.e., 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.

Build AI portfolio with American Stock

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

For information on how to trade American Stock refer to our How to Trade American Stock guide.

Moving together with American Stock

0.75

ETN

Eaton PLC

Pair Corr

Moving against American Stock

0.81	PPERY	Bank Mandiri Persero	Pair Corr
0.77	FTV	Fortive Corp	Pair Corr
0.73	ADAMI	New York Mortgage Symbol Change	Pair Corr
0.72	JPSTF	JAPAN POST BANK	Pair Corr
0.63	KO	Coca Cola	Pair Corr
0.59	MBFJF	Mitsubishi UFJ Financial	Pair Corr
0.57	ESP	Espey Mfg Electronics	Pair Corr
0.55	PPERF	Bank Mandiri Persero	Pair Corr
0.52	PTBRY	Bank Negara Indonesia Normal Trading	Pair Corr
0.51	MZHOF	Mizuho Financial Normal Trading	Pair Corr
0.34	PBCRY	Bank Central Asia	Pair Corr
0.83	TRV	The Travelers Companies	Pair Corr
0.75	CSCO	Cisco Systems	Pair Corr
0.63	PFE	Pfizer Inc Sell-off Trend	Pair Corr
0.58	CAT	Caterpillar	Pair Corr
0.58	BAC	Bank of America	Pair Corr
0.57	AXP	American Express	Pair Corr
0.51	AA	Alcoa Corp	Pair Corr
0.51	MCD	McDonalds	Pair Corr
0.51	MMM	3M Company	Pair Corr
0.5	IBM	International Business	Pair Corr
0.48	WMT	Walmart Common Stock Sell-off Trend	Pair Corr
0.48	VZ	Verizon Communications	Pair Corr

Related Correlations Analysis

	NCTKF	SXI	SOHVF	THKLF	IRRHF	KRDXF	JGHAF	MIURF	XMTR	PSIX
NCTKF		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	NCTKF
SXI	0.0		0.0	0.0	0.08	-0.08	0.0	0.0	-0.08	-0.09	SXI
SOHVF	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	SOHVF
THKLF	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	THKLF
IRRHF	0.0	0.08	0.0	0.0		0.64	0.0	0.0	-0.56	0.32	IRRHF
KRDXF	0.0	-0.08	0.0	0.0	0.64		0.0	0.0	-0.68	0.73	KRDXF
JGHAF	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	JGHAF
MIURF	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	MIURF
XMTR	0.0	-0.08	0.0	0.0	-0.56	-0.68	0.0	0.0		-0.38	XMTR
PSIX	0.0	-0.09	0.0	0.0	0.32	0.73	0.0	0.0	-0.38		PSIX
	NCTKF	SXI	SOHVF	THKLF	IRRHF	KRDXF	JGHAF	MIURF	XMTR	PSIX

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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

PSIX	+ 0.73	KRDXF
KRDXF	+ 0.64	IRRHF
PSIX	+ 0.32	IRRHF
IRRHF	+ 0.08	SXI
SXI	+ 0.0	NCTKF
SOHVF	+ 0.0	NCTKF

High negative correlations

XMTR	- 0.68	KRDXF
XMTR	- 0.56	IRRHF
PSIX	- 0.38	XMTR
PSIX	- 0.09	SXI
XMTR	- 0.08	SXI
KRDXF	- 0.08	SXI

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	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SXI	1.62	0.18	0.04	(0.60)	1.96	(1.62)	3.70	(2.71)	12.69
SOHVF	0.00	0.00	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	0.00	0.00
IRRHF	0.21	(0.11)	0.00	0.90	0.00	0.00	0.00	0.00	4.79
KRDXF	0.87	(0.30)	0.00	(0.36)	0.00	0.00	0.82	(2.17)	12.18
JGHAF	0.00	0.00	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	0.00	0.00
XMTR	3.08	0.59	0.10	(0.37)	3.41	(3.21)	5.19	(6.97)	38.74
PSIX	4.13	(0.54)	0.00	(0.11)	0.00	0.00	7.71	(8.26)	29.92

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