Arconic Correlations
| ARNCDelisted Stock | USD 29.82 0.01 0.03% |
The current 90-days correlation between Arconic and Worthington Industries is 0.14 (i.e., Average diversification). The correlation of Arconic 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.
Arconic Correlation With Market
Significant diversification
The correlation between Arconic and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Arconic and DJI in the same portfolio, assuming nothing else is changed.
Arconic |
Moving together with Arconic Stock
| 0.74 | CSCO | Cisco Systems Aggressive Push | PairCorr |
| 0.61 | WMT | Walmart Aggressive Push | PairCorr |
| 0.72 | AXP | American Express Fiscal Year End 24th of January 2025 | PairCorr |
| 0.79 | HD | Home Depot | PairCorr |
| 0.81 | AA | Alcoa Corp Fiscal Year End 15th of January 2025 | PairCorr |
| 0.66 | GE | GE Aerospace Fiscal Year End 28th of January 2025 | PairCorr |
| 0.82 | CAT | Caterpillar Fiscal Year End 3rd of February 2025 | PairCorr |
| 0.64 | CVX | Chevron Corp Fiscal Year End 7th of February 2025 | PairCorr |
| 0.72 | T | ATT Inc Fiscal Year End 22nd of January 2025 | PairCorr |
Moving against Arconic Stock
| 0.7 | BA | Boeing Fiscal Year End 29th of January 2025 | PairCorr |
| 0.58 | MRK | Merck Company Fiscal Year End 6th of February 2025 | PairCorr |
| 0.58 | JNJ | Johnson Johnson Sell-off Trend | PairCorr |
| 0.33 | PFE | Pfizer Inc Fiscal Year End 4th of February 2025 | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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 Arconic Stock performing well and Arconic 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 Arconic'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| CRS | 1.94 | 0.20 | 0.15 | 0.21 | 2.10 | 5.44 | 13.31 | |||
| HAYN | 0.22 | 0.02 | (0.31) | 0.74 | 0.24 | 0.64 | 1.98 | |||
| WOR | 1.67 | (0.39) | 0.00 | (0.06) | 0.00 | 2.60 | 13.44 | |||
| RYI | 1.96 | 0.07 | 0.14 | 0.15 | 1.95 | 4.48 | 21.43 | |||
| NWPX | 1.63 | 0.18 | 0.17 | 0.25 | 1.07 | 3.47 | 12.92 | |||
| IIIN | 1.62 | (0.39) | 0.00 | (0.12) | 0.00 | 3.00 | 11.17 | |||
| ESAB | 1.53 | 0.15 | 0.13 | 0.22 | 1.43 | 3.42 | 15.01 | |||
| GIFI | 2.14 | 0.11 | 0.08 | 0.21 | 1.90 | 7.10 | 21.05 | |||
| MLI | 1.74 | 0.02 | 0.06 | 0.14 | 1.88 | 2.93 | 20.61 | |||
| TG | 2.02 | 0.13 | 0.05 | 0.21 | 3.69 | 5.86 | 31.25 |
Arconic Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Arconic stock to make a market-neutral strategy. Peer analysis of Arconic could also be used in its relative valuation, which is a method of valuing Arconic by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Arconic Corporate Management
| Margaret Billson | Independent Director | Profile | |
| Laurent Salah | Pres Systems | Profile | |
| Jacques Croisetiere | Independent Director | Profile | |
| Carol Eicher | Independent Director | Profile | |
| Melissa Miller | Chief Human Resource Officer, Executive Vice President | Profile | |
| Frederick Henderson | Independent Chairman of the Board | Profile | |
| Mark Vrablec | Executive Vice President Chief Commercial Officer | Profile |
Still Interested in Arconic?
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