Aspen Aerogels Correlations

ASPN Stock

USD 14.31 0.31 2.21%

The current 90-days correlation between Aspen Aerogels and Ardmore Shpng is 0.29 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Aspen Aerogels moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Aspen Aerogels moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Aspen Aerogels Correlation With Market

Weak diversification

The correlation between Aspen Aerogels and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Aspen Aerogels 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 Aspen Aerogels. 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.

To learn how to invest in Aspen Stock, please use our How to Invest in Aspen Aerogels guide.

Moving together with Aspen Stock

0.67	APT	Alpha Pro Tech	Pair Corr
0.87	JBI	Janus International	Pair Corr
0.66	WMS	Advanced Drainage Systems	Pair Corr
0.74	JELD	Jeld Wen Holding	Pair Corr
0.76	AEHL	Antelope Enterprise	Pair Corr
0.89	CSTE	Caesarstone	Pair Corr
0.61	AP	Ampco Pittsburgh	Pair Corr

Moving against Aspen Stock

0.86	AWI	Armstrong World Indu	Pair Corr
0.81	AAON	AAON Inc	Pair Corr
0.77	APOG	Apogee Enterprises	Pair Corr
0.76	JCI	Johnson Controls Int Fiscal Year End 10th of December 2024	Pair Corr
0.75	OC	Owens Corning	Pair Corr
0.73	PPIH	Perma Pipe Internati	Pair Corr
0.69	NX	Quanex Building Products Fiscal Year End 12th of December 2024	Pair Corr
0.68	ANSLY	Ansell Ltd ADR	Pair Corr
0.67	TT	Trane Technologies plc	Pair Corr
0.6	GMS	GMS Inc	Pair Corr
0.6	AIRJ	Montana Technologies Symbol Change	Pair Corr
0.59	LII	Lennox International	Pair Corr
0.56	LPX	Louisiana Pacific	Pair Corr
0.44	VKSC	Viskase Companies	Pair Corr
0.43	AZEK	Azek Company Fiscal Year End 26th of November 2024	Pair Corr
0.92	AZ	A2Z Smart Technologies	Pair Corr
0.77	CW	Curtiss Wright	Pair Corr
0.76	BR	Broadridge Financial	Pair Corr
0.72	B	Barnes Group	Pair Corr
0.7	R	Ryder System	Pair Corr
0.7	CR	Crane Company	Pair Corr
0.69	KC	Kingsoft Cloud Holdings Trending	Pair Corr
0.68	J	Jacobs Solutions	Pair Corr
0.66	G	Genpact Limited	Pair Corr
0.61	IR	Ingersoll Rand	Pair Corr

Related Correlations Analysis

	APYX	CCS	ASC	AAT	ASGN
APYX		-0.4	-0.34	0.05	-0.04	APYX
CCS	-0.4		0.89	-0.36	0.31	CCS
ASC	-0.34	0.89		-0.63	0.23	ASC
AAT	0.05	-0.36	-0.63		0.19	AAT
ASGN	-0.04	0.31	0.23	0.19		ASGN
	APYX	CCS	ASC	AAT	ASGN

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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

ASC	+ 0.89	CCS
ASGN	+ 0.31	CCS
ASGN	+ 0.23	ASC
ASGN	+ 0.19	AAT
AAT	+ 0.05	APYX

High negative correlations

AAT	- 0.63	ASC
CCS	- 0.4	APYX
AAT	- 0.36	CCS
ASC	- 0.34	APYX
ASGN	- 0.04	APYX

Risk-Adjusted Indicators

There is a big difference between Aspen Stock performing well and Aspen Aerogels 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 Aspen Aerogels' 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
APYX	3.24	0.17	0.04	0.30	3.27	(4.40)	9.38	(6.45)	32.02
CCS	1.61	(0.22)	0.00	(0.15)	0.00	0.00	3.41	(3.86)	13.05
ASC	1.52	(0.69)	0.00	(1.79)	0.00	0.00	2.41	(3.86)	10.54
AAT	0.99	0.06	0.01	0.22	1.15	(1.08)	2.21	(2.03)	5.32
ASGN	1.52	(0.29)	0.00	(0.02)	0.00	0.00	3.32	(3.35)	13.02

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