Alpha Pro Correlations

APT Stock

USD 4.50 0.05 1.12%

The current 90-days correlation between Alpha Pro Tech and Caesarstone is -0.11 (i.e., Good 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

Weak diversification

The correlation between Alpha Pro Tech and DJI is 0.39 (i.e., Weak 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.

Build AI portfolio with Alpha Stock

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 inflation.

Moving together with Alpha Stock

0.65	OC	Owens Corning	Pair Corr
0.76	002918	Monalisa Group	Pair Corr
0.61	MAS	Masco Sell-off Trend	Pair Corr
0.61	NCL	Northann Corp	Pair Corr
0.66	WXM	WF International	Pair Corr
0.67	200055	China Fangda Group	Pair Corr
0.7	IIIN	Insteel Industries	Pair Corr
0.73	JCTC	Jewett Cameron Trading	Pair Corr
0.65	JELD	Jeld Wen Holding	Pair Corr

Moving against Alpha Stock

0.59	JCI	Johnson Controls Int	Pair Corr
0.5	CSW	CSW Industrials, Symbol Change	Pair Corr
0.42	MPP	Metro Performance Glass	Pair Corr
0.76	603828	Suzhou Kelida Bldg	Pair Corr
0.73	NXR	Norcros Plc	Pair Corr
0.56	300093	Gansu Golden Glass	Pair Corr
0.48	WMS	Advanced Drainage Systems	Pair Corr
0.42	EMB	Embelton	Pair Corr
0.69	002372	Zhejiang Weixing New	Pair Corr
0.58	002162	Everjoy Health Group	Pair Corr

Related Correlations Analysis

	CSTE	BRIA	ADSE	RYOJ	MAGH	HTLM	SPCB	DPRO	FLUX	PPSI
CSTE		-0.03	0.74	-0.38	0.48	-0.28	0.13	0.02	-0.02	0.21	CSTE
BRIA	-0.03		-0.36	-0.43	-0.79	0.8	0.77	0.42	0.7	0.53	BRIA
ADSE	0.74	-0.36		-0.26	0.76	-0.54	-0.27	-0.23	-0.47	-0.22	ADSE
RYOJ	-0.38	-0.43	-0.26		0.1	-0.25	-0.33	-0.23	-0.06	-0.17	RYOJ
MAGH	0.48	-0.79	0.76	0.1		-0.8	-0.67	-0.51	-0.71	-0.56	MAGH
HTLM	-0.28	0.8	-0.54	-0.25	-0.8		0.53	0.47	0.6	0.45	HTLM
SPCB	0.13	0.77	-0.27	-0.33	-0.67	0.53		0.3	0.59	0.68	SPCB
DPRO	0.02	0.42	-0.23	-0.23	-0.51	0.47	0.3		0.69	0.7	DPRO
FLUX	-0.02	0.7	-0.47	-0.06	-0.71	0.6	0.59	0.69		0.74	FLUX
PPSI	0.21	0.53	-0.22	-0.17	-0.56	0.45	0.68	0.7	0.74		PPSI
	CSTE	BRIA	ADSE	RYOJ	MAGH	HTLM	SPCB	DPRO	FLUX	PPSI

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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

HTLM	+ 0.8	BRIA
SPCB	+ 0.77	BRIA
MAGH	+ 0.76	ADSE
ADSE	+ 0.74	CSTE
PPSI	+ 0.74	FLUX
FLUX	+ 0.7	BRIA

High negative correlations

HTLM	- 0.8	MAGH
MAGH	- 0.79	BRIA
FLUX	- 0.71	MAGH
SPCB	- 0.67	MAGH
PPSI	- 0.56	MAGH
HTLM	- 0.54	ADSE

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
CSTE	4.40	0.23	0.06	0.20	4.34	(6.18)	10.29	(7.48)	38.10
BRIA	1.77	(0.42)	0.00	(1.19)	0.00	0.00	3.14	(3.74)	13.13
ADSE	2.25	0.27	0.11	0.33	2.23	(2.82)	5.43	(3.37)	20.96
RYOJ	10.07	2.45	0.26	(16.05)	7.96	(13.98)	13.02	(15.26)	173.11
MAGH	5.98	2.94	0.52	(1.35)	3.05	(9.39)	25.78	(5.59)	44.43
HTLM	3.62	(0.40)	0.00	0.70	0.00	0.00	6.83	(6.83)	26.61
SPCB	3.32	(0.44)	0.00	(0.18)	0.00	0.00	5.72	(6.02)	23.83
DPRO	6.82	0.53	0.09	0.22	7.01	(7.80)	14.74	(11.13)	34.84
FLUX	7.26	(0.67)	0.00	(0.26)	0.00	0.00	15.15	(17.39)	66.61
PPSI	3.03	(0.25)	0.00	(0.02)	0.00	0.00	5.93	(6.91)	16.24

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