Aqua Metals Correlations

AQMS Stock

USD 2.66 0.50 23.15%

The current 90-days correlation between Aqua Metals and LanzaTech Global is 0.17 (i.e., Average diversification). The correlation of Aqua Metals 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.

Aqua Metals Correlation With Market

Modest diversification

The correlation between Aqua Metals and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Aqua Metals 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 Aqua Metals. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

For more information on how to buy Aqua Stock please use our How to Invest in Aqua Metals guide.

Moving together with Aqua Stock

0.71	MG	Mistras Group	Pair Corr
0.8	DLHC	DLH Holdings Corp Fiscal Year End 4th of December 2024	Pair Corr
0.9	VCIG	VCI Global Limited	Pair Corr
0.62	VLTO	Veralto	Pair Corr
0.84	WHLM	Wilhelmina	Pair Corr
0.64	FORR	Forrester Research	Pair Corr
0.69	DSS	DSS Inc	Pair Corr
0.92	EFX	Equifax	Pair Corr
0.72	FCN	FTI Consulting	Pair Corr

Moving against Aqua Stock

0.86	SQ	Block Inc	Pair Corr
0.83	BR	Broadridge Financial	Pair Corr
0.81	NL	NL Industries	Pair Corr
0.8	WM	Waste Management	Pair Corr
0.76	KC	Kingsoft Cloud Holdings Trending	Pair Corr
0.76	LZ	LegalZoom	Pair Corr
0.76	DRVN	Driven Brands Holdings	Pair Corr
0.72	G	Genpact Limited	Pair Corr
0.69	VRSK	Verisk Analytics	Pair Corr
0.61	BV	BrightView Holdings	Pair Corr
0.92	EXLS	ExlService Holdings	Pair Corr
0.91	ADP	Automatic Data Processing Sell-off Trend	Pair Corr
0.87	FOUR	Shift4 Payments	Pair Corr
0.81	VSEC	VSE Corporation	Pair Corr
0.64	ARC	ARC Document Solutions	Pair Corr
0.63	WLDN	Willdan Group	Pair Corr
0.58	CBZ	CBIZ Inc	Pair Corr
0.47	ABM	ABM Industries Fiscal Year End 11th of December 2024	Pair Corr
0.38	DNB	Dun Bradstreet Holdings	Pair Corr
0.34	CIX	CompX International	Pair Corr
0.85	VVI	Viad Corp	Pair Corr
0.78	INOD	Innodata	Pair Corr
0.77	IIIV	i3 Verticals	Pair Corr
0.58	KAR	KAR Auction Services	Pair Corr
0.58	RBA	RB Global	Pair Corr
0.47	UNF	Unifirst	Pair Corr

Related Correlations Analysis

	LNZA	WM	CLH	HSC	CWST	SRCL	MEG	HCCI	WCN
LNZA		-0.3	0.26	0.01	-0.64	-0.61	0.16	-0.52	-0.68	LNZA
WM	-0.3		0.52	0.7	0.56	0.75	-0.62	0.86	0.48	WM
CLH	0.26	0.52		0.54	0.23	0.31	-0.38	0.39	0.14	CLH
HSC	0.01	0.7	0.54		0.25	0.48	-0.43	0.68	0.05	HSC
CWST	-0.64	0.56	0.23	0.25		0.52	-0.11	0.65	0.91	CWST
SRCL	-0.61	0.75	0.31	0.48	0.52		-0.73	0.86	0.51	SRCL
MEG	0.16	-0.62	-0.38	-0.43	-0.11	-0.73		-0.61	-0.11	MEG
HCCI	-0.52	0.86	0.39	0.68	0.65	0.86	-0.61		0.56	HCCI
WCN	-0.68	0.48	0.14	0.05	0.91	0.51	-0.11	0.56		WCN
	LNZA	WM	CLH	HSC	CWST	SRCL	MEG	HCCI	WCN

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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

WCN	+ 0.91	CWST
HCCI	+ 0.86	WM
HCCI	+ 0.86	SRCL
SRCL	+ 0.75	WM
HSC	+ 0.7	WM
HCCI	+ 0.68	HSC

High negative correlations

MEG	- 0.73	SRCL
WCN	- 0.68	LNZA
CWST	- 0.64	LNZA
MEG	- 0.62	WM
HCCI	- 0.61	MEG
SRCL	- 0.61	LNZA

Risk-Adjusted Indicators

There is a big difference between Aqua Stock performing well and Aqua Metals 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 Aqua Metals' 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
LNZA	4.81	(0.79)	0.00	(0.23)	0.00	0.00	9.95	(8.72)	28.44
WM	0.77	0.05	(0.01)	0.21	0.88	(0.80)	1.67	(1.75)	7.17
CLH	1.26	(0.10)	(0.01)	0.06	2.37	(1.16)	2.57	(1.99)	13.89
HSC	2.57	0.40	0.13	0.74	2.48	(2.95)	6.26	(3.78)	24.00
CWST	1.14	(0.07)	(0.02)	0.07	1.62	(1.14)	2.09	(2.60)	7.60
SRCL	1.09	0.44	0.54	1.22	0.00	(1.24)	2.30	(0.67)	30.56
MEG	3.62	(0.74)	0.00	(1.10)	0.00	0.00	7.60	(7.73)	27.87
HCCI	1.59	0.43	0.18	1.21	1.51	(1.77)	5.13	(3.24)	11.13
WCN	0.70	0.00	(0.08)	0.12	0.87	(0.73)	1.55	(1.55)	4.00

Aqua Metals Corporate Management

Kimberly Setliff	VP	Profile
David Regan	Director Marketing	Profile
Dave McMurtry	Chief Officer	Profile
Stephen Cotton	Chief Commercial Officer	Profile
Benjamin Taecker	Chief Officer	Profile
Eric West	Corporate Controller	Profile

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