Alpha Pro Correlations

APT Stock

USD 5.40 0.16 3.05%

The current 90-days correlation between Alpha Pro Tech and Trex Company is 0.11 (i.e., Average diversification). The correlation of Alpha Pro 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.

Alpha Pro Correlation With Market

Significant diversification

The correlation between Alpha Pro Tech and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alpha Pro Tech 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 Alpha Pro Tech. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with Alpha Stock

0.75	JBI	Janus International	Pair Corr
0.7	WMS	Advanced Drainage Systems	Pair Corr
0.62	AEHL	Antelope Enterprise	Pair Corr
0.68	ASPN	Aspen Aerogels	Pair Corr
0.63	CSTE	Caesarstone	Pair Corr

Moving against Alpha Stock

0.63	AAON	AAON Inc	Pair Corr
0.61	PPIH	Perma Pipe Internati	Pair Corr
0.61	TILE	Interface	Pair Corr
0.6	JCI	Johnson Controls Int Fiscal Year End 10th of December 2024	Pair Corr
0.58	AZEK	Azek Company Fiscal Year End 26th of November 2024	Pair Corr
0.57	AWI	Armstrong World Indu	Pair Corr
0.57	LPX	Louisiana Pacific	Pair Corr
0.49	TT	Trane Technologies plc	Pair Corr
0.45	LII	Lennox International	Pair Corr
0.44	APOG	Apogee Enterprises	Pair Corr
0.42	OC	Owens Corning	Pair Corr
0.41	ANSLY	Ansell Ltd ADR	Pair Corr
0.41	ROCK	Gibraltar Industries	Pair Corr
0.35	AIRJ	Montana Technologies Symbol Change	Pair Corr
0.33	ILAG	Intelligent Living	Pair Corr
0.68	DIST	Distoken Acquisition	Pair Corr
0.58	CR	Crane Company	Pair Corr
0.56	R	Ryder System	Pair Corr
0.53	LZ	LegalZoom	Pair Corr
0.52	AZ	A2Z Smart Technologies	Pair Corr
0.5	TREX	Trex Company	Pair Corr
0.48	BE	Bloom Energy Corp Trending	Pair Corr
0.44	IR	Ingersoll Rand Sell-off Trend	Pair Corr

Related Correlations Analysis

	TREX	NX	AWI	ROCK	APOG	JBI	TILE	ASPN	AAON	AZEK
TREX		0.51	0.67	0.66	0.54	-0.73	0.65	-0.46	0.69	0.8	TREX
NX	0.51		0.79	0.22	0.78	-0.53	0.64	-0.67	0.73	0.42	NX
AWI	0.67	0.79		0.45	0.93	-0.82	0.86	-0.85	0.95	0.68	AWI
ROCK	0.66	0.22	0.45		0.42	-0.33	0.5	-0.15	0.48	0.75	ROCK
APOG	0.54	0.78	0.93	0.42		-0.68	0.72	-0.77	0.9	0.56	APOG
JBI	-0.73	-0.53	-0.82	-0.33	-0.68		-0.78	0.87	-0.79	-0.55	JBI
TILE	0.65	0.64	0.86	0.5	0.72	-0.78		-0.73	0.79	0.6	TILE
ASPN	-0.46	-0.67	-0.85	-0.15	-0.77	0.87	-0.73		-0.8	-0.39	ASPN
AAON	0.69	0.73	0.95	0.48	0.9	-0.79	0.79	-0.8		0.74	AAON
AZEK	0.8	0.42	0.68	0.75	0.56	-0.55	0.6	-0.39	0.74		AZEK
	TREX	NX	AWI	ROCK	APOG	JBI	TILE	ASPN	AAON	AZEK

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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

AAON	+ 0.95	AWI
APOG	+ 0.93	AWI
AAON	+ 0.9	APOG
ASPN	+ 0.87	JBI
TILE	+ 0.86	AWI
AZEK	+ 0.8	TREX

High negative correlations

ASPN	- 0.85	AWI
JBI	- 0.82	AWI
AAON	- 0.8	ASPN
AAON	- 0.79	JBI
TILE	- 0.78	JBI
ASPN	- 0.77	APOG

Risk-Adjusted Indicators

There is a big difference between Alpha Stock performing well and Alpha Pro 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 Alpha Pro'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
TREX	1.54	0.03	0.02	0.12	1.86	(1.67)	3.40	(2.93)	10.25
NX	1.98	0.10	0.03	0.21	2.56	(2.28)	4.43	(2.75)	32.55
AWI	0.93	0.28	0.26	0.35	0.56	(1.04)	2.35	(1.38)	5.22
ROCK	1.46	(0.03)	0.01	0.07	1.62	(1.66)	2.88	(2.19)	8.68
APOG	1.93	0.24	0.19	0.19	1.57	(2.46)	3.73	(2.93)	28.75
JBI	2.06	(0.71)	0.00	(0.26)	0.00	0.00	3.00	(4.22)	33.52
TILE	2.03	0.50	0.32	0.33	1.28	(2.47)	3.44	(2.83)	34.53
ASPN	3.41	(1.27)	0.00	(0.51)	0.00	0.00	5.36	(8.46)	27.28
AAON	1.81	0.46	0.32	0.33	1.25	(2.34)	5.69	(2.25)	18.32
AZEK	1.34	0.18	0.10	0.29	1.44	(1.44)	3.56	(2.33)	9.05

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